Money Transfer from Canada to US Using TD?

[__caitlin 2]

So we are looking for the fastest and cheapest way for my Canadian husband to be able to transfer money to me (a USC). In searching the forums I saw that a lot of people recommended CustomHouse, which at the time of the postings was described as having no fees. But I've recently looked at CustomHouse's website and saw that they do have fees - $5 for an EFT, which isn't that much, but I will use it if there are no better options.

My husband and I both have TD bank accounts in our respective countries. My questions are:

1. Can I add my name to his Canadian account to turn it into a joint account even though I'm not a Canadian citizen?
   
2. What is the best way (if possible) to transfer funds from the Canadian account to the American?
   
3. How long does it take? Are there fees?
   

Thank you!

[HelterSkelter24 0]

Hello,

Have you talked to your bank? Im with td as well, and they told me there isn't a fee for transferring money from TD account to TD account, even when its across the boarder. Something about a courtesy thing between them, when i transferred money i only had to pay the exchange rate (you might get a better exchange rate some where else then add american funds to your account before you transfer it) . Also when i was in the states, i withdrew money from my Canadian account from a td bank. I was expecting there to be fees but there wasn't any.

I dont know if that helps you, but good luck

[burnabrenna 19]

My husband just added me to his TD account even though I'm not a Canadian citizen, and it was no problem. They actually don't even require you to be married to add your name to the account.

I'm not sure about the transfer part, so hopefully someone else can help with that.

[bsd058 296]

I wire transfer directly from my TD account to my wife's Chase account. Costs like $35 or something like that. You just have to tell them what it's for. I say family bills since it's our rent payment. But they do Visa Debit cards now that she could possibly use without having to worry about $35 wire transfer fees.

Edited March 13, 2013 by bsd058

[Krikit 1,164]

CustomHouse is a pita now. I used to recommend them but, ever since they were bought out by Western Union, their service is horrible.

Your husband can check with his branch to find out the answer to your first question. In order to have no-fee electronic transfers at TD, both accounts need to be your own. So, in other words, your husband will need to be on the TD America account in order for him to make a no-fee e-transfer to it... and vice versa. If done before 2:00 p.m. on a business day (M-F) it will show up in the other account the same day or the next business day at the latest.

Best advice is for each of you to go into your branch and sit down with someone. They are quite helpful.

[Ms Hogan 295]

Call TD and ask them. They know better than we do

I have RBC account here in Canada and one in U.S. that I opened by going to a Canadian branch. I then called in to make it a joint account with my U.S. husband. He transfer money to it from his PNC account and it takes about 3-5 days to go through each time.

[Krikit 1,164]

Call TD and ask them. They know better than we do

Okay. But I am speaking as the owner of both TD CanadaTrust and TD America accounts who regularly makes electronic transfers.

[Ms Hogan 295]

CustomHouse is a pita now. I used to recommend them but, ever since they were bought out by Western Union, their service is horrible.

Your husband can check with his branch to find out the answer to your first question. In order to have no-fee electronic transfers at TD, both accounts need to be your own. So, in other words, your husband will need to be on the TD America account in order for him to make a no-fee e-transfer to it... and vice versa. If done before 2:00 p.m. on a business day (M-F) it will show up in the other account the same day or the next business day at the latest.

Best advice is for each of you to go into your branch and sit down with someone. They are quite helpful.

Does this work though if he doesn't have a TD account and already banks with someone else? Or is he using his TD account for all his banking now? Just curious. I can transfer money instantly between my RBC Canada and US accounts but my husband moving money from his PNC account to our joint U.S. account is what takes a couple business days to go through.

[hikergirl 277]

MsHogan: why doesn’t your husband write you a check and use the RBC app to deposit it straight into the US Account. It seems like it would be more expedient that way.

Caitlin: I haven’t transferred between my two TD accounts yet like Krikit has, but it seems to me like you should try calling the dedicated cross-border banking section and see if it can be done and easily & cheaply without any account changes.

But, you may want to ask how to get joint accounts if that is what you guys are looking for in the future as it will help with the financial mingling.

Edited March 13, 2013 by hikergirl

[Ms Hogan 295]

MsHogan: why doesn’t your husband write you a check and use the RBC app to deposit it straight into the US Account. It seems like it would be more expedient that way.

I don't know how quickly that goes through. Can you shed some more light on that? I know you mentioned it before.

[hikergirl 277]

I don't know how quickly that goes through. Can you shed some more light on that? I know you mentioned it before.

http://www.rbcbank.com/products-and-services/cid-297481.html

I am not sure how long it took hubby’s check to clear or whether or not they “hold” the funds like they sometimes do in Canada. He had deposited a third party check straight into the account from his iPhone using an app.

[Ms Hogan 295]

http://www.rbcbank.com/products-and-services/cid-297481.html

I am not sure how long it took hubby’s check to clear or whether or not they “hold” the funds like they sometimes do in Canada. He had deposited a third party check straight into the account from his iPhone using an app.

Maybe I'll test it. Will you ask your husband how long it took to process? If it isn't any faster it won't matter much.

[lilacvioletiris 11]

We transfer funds using EFT every month and there isn't a 5 fee unless that is from your bank receiving the EFT. We have used CustomHouse for the last 2.5 years and have been happy with the service.

[ValerieA 350]

We transfer funds using EFT every month and there isn't a 5 fee unless that is from your bank receiving the EFT. We have used CustomHouse for the last 2.5 years and have been happy with the service.

For existing customers, the fee goes into effect on April 1st. They have sent me a few emails about it. I just arranged for my last free one. For new customers, it went into effect sometime late in 2012, I believe.

[Flames9_RN 358]

For existing customers, the fee goes into effect on April 1st. They have sent me a few emails about it. I just arranged for my last free one. For new customers, it went into effect sometime late in 2012, I believe.

Yes Customhouse Fees are changing!! They used to be a great company, then Western Union bought them and it has been downhill ever since!! The exchange rate has (in my opinion) gotten worse. I know when I first started using it and was transferring over some large sums of money, the banks could not come close, but not so sure that is the case any more. But always in ones best interest to phone around.