When to transfer money?

[VeeNDee 44]

I was reading the post about selling the house and started wondering - when is the best time to transfer money down. I am moving down this December assuming my visa appointment goes well, and I was hoping to avoid having to file taxes for the year of 2013 in Canada and just deal with 2012. However I'm not getting married until January, and I assume earning interest in my account in January means I would have to file taxes for 2013 (I will definitely be earning interest - I get a T something slip for that each year for taxes).

My other question is how to transfer the money - if I am understanding correctly I can't open a bank account until I have an SSN - and I also can't be added to my fiance's account without the SSN as well (we met with his bank and they said they would let me be added on after the SSN) - and I won't be applying for that SSN until after I move down about a week into December... do you think it is likely there will be enough time to transfer the money before the new year? Especially since it's the middle of Christmas season? For the SSN do they give you the number you need right away? What I mean is, if I file for an SSN will I be able to tell the bank the information they need that day or do I need to wait to hear back from the SSN people... sorry, I'm just a bit confused on all of this.

[NikLR 13,227]

Get him to see if you can be added onto his account by filling out an iw8ben. That way you don't need a SSN. If not you guys can try opening another account at a bank that doesn't require you to have an SSN. I think other members have mentioned Chase for example.

[codygrace 14]

I got an account with PNC with my SIN

[Flames9_RN 358]

When dealing with banks, it can vary from branch to branch! 1 Wachovia bank said I needed a SSN--Another 1 didn't!! Just more to add to the frustrations,lol

[at long last 58]

Hi There

I opened an account with Bank of America and at first they said I needed the SSN but then I went up the ladder and founbd out you can open one without they just have to manually input a code for that. Also they will want to know how you got the money..

I had really no major issues. I also have an account here in Canada (Royal Bank)which has a US account on it as well withseparate debit cards and everything and you can transfer money back and forth.

Terri

[Texas22 50]

Last November when I was visiting my fiance we went to his bank (Extraco) and we opened a joint account there, and I don't even live there yet. They filled out some sort of special form and for my SSN they just marked all 8's. They said we could change it once I move down there and get my actual SSN#.

Good Luck to You!

[NikLR 13,227]

the iw8ben is the form.. it basically states that because we live in Canada, we're not taxable due to a tax treaty, on income made in Canada. Pretty sure my husband's USAA bankers know what they're doing when it comes to this since it is a military bank and military need to be able to bank all over the world and do marry people not in the USA.

[Colleens 40]

I was reading the post about selling the house and started wondering - when is the best time to transfer money down. I am moving down this December assuming my visa appointment goes well, and I was hoping to avoid having to file taxes for the year of 2013 in Canada and just deal with 2012. However I'm not getting married until January, and I assume earning interest in my account in January means I would have to file taxes for 2013 (I will definitely be earning interest - I get a T something slip for that each year for taxes).

My other question is how to transfer the money - if I am understanding correctly I can't open a bank account until I have an SSN - and I also can't be added to my fiance's account without the SSN as well (we met with his bank and they said they would let me be added on after the SSN) - and I won't be applying for that SSN until after I move down about a week into December... do you think it is likely there will be enough time to transfer the money before the new year? Especially since it's the middle of Christmas season? For the SSN do they give you the number you need right away? What I mean is, if I file for an SSN will I be able to tell the bank the information they need that day or do I need to wait to hear back from the SSN people... sorry, I'm just a bit confused on all of this.

Go to an RBC branch and open an RBC USA account (which is an american bank, although it doesn't have branches...much like PC banking, but it does have online and mobile banking options). You can open it from Canada without a SSN. And if you open a canadian RBC account you can link the 2 online and transfer money back and forth with no fees. It works out well if you have things like tax returns. You can have it direct deposited to your Canadian account and then simply transfer it online...no waiting!