Deposit a canadian check in a US bank

[Yomtl 0]

Hi!

I still haven't received my tax return from Revenu Quebec and I'll be moving to Florida next week....most probably before receiving that tax return. Although I'll have my mail transfered to my new address in Florida I was wondering if I will be able to deposit the tax return check (labelled in canadian dollars) at my bank in Florida? (I am a client of the Royal Bank of Canada and I also opened an account with their american branch RBC Centura).

Thanks for your help!

[Delicia 1]

Yes, the bank will have no issues depositing the check. They will give you the U.S. dollars per their conversion rate on the date of deposit. Sometimes, they will hold the check (make it unanavaile) for a period of time until the check clears.

[Emancipation 2]

Yes, the bank will have no issues depositing the check. They will give you the U.S. dollars per their conversion rate on the date of deposit. Sometimes, they will hold the check (make it unanavaile) for a period of time until the check clears.

Really?? that's not been my experience.. at all..

Navy federal won't cash a CDN check - Period.

BOA will - but they will hold the funds for 2 weeks, use a 3rd party intemediary for the exchange and clearing and don't seem to want to disclose how much in fees it will cost or what they will give for an exchange rate.

I kept my CDN bank account open and send checks to it via mail, or have my mother deposit them for me on the CDN side.. Then i use Custom Clearing House (NO FEES) to transfer the funds back to the US..

I'd call Centura.. they'd be able to tell you right away

Edited June 20, 2008 by Emancipation

[derekkj 0]

Wachovia will technically cash your cdn check for you. They will also try and charge a $75 PER CHECK international bank fee.

We use Custom House and love it! No fees, usually a better exchange rate and only takes a few days to transfer funds.

[Cassie 8]

Yeah, I deal with a small credit union and they can't deal with American cheques at all without a major fee or holdup. So anytime my grandma wants to give me money for a gift, she gives it to my Mom and it gets deposited in my Canadian account and I either transfer it here, or leave it there for spending money when I go to Canada for a trip.

American banks for the most part don't like dealing with Canadian cheques -- major fees, etc etc. Since you are using Centura, it may be easier.

[aravis227 1]

I had a personal check from Canada that I deposited into my bank account with absolutely no problem and no fees (they did hold it for two business days to ensure it would clear). They took a few cents liberty with the exchange rate...but it wasn't significant (it amounted to about $9...but the USD was already like five cents weaker and it was a pretty big check).

Edited June 20, 2008 by aravis227

[Flames9_RN 358]

It all varies on the easiness, and it even varies from the same various branches from the same bank company!! Soem banks wil charge you a fee. soem wil give you a crappy exchange rate, some will do both, so best to ask before they start doing the transaction! Thats why I kept a cdn bank account open, left my Cdn bank card with my folks to deposit cdn cheques, and started using Customhouse.com to exchange $$$.

[Reba 2]

You shouldn't have a problem with RBC at all, they are a Canadian company, and for the most part, cater to Canadian populations in any town/city where they have a branch. Some even employ ex-pat Canadians and bring Canucks down for specific jobs (I know some folks in Charlotte who work for RBC).

Banking in the US with a US bank is hit or miss at best of times. The credit union I bank with here is finally getting into the late 20th century and installing card swipers at the tellers. But they're still not using them At least they'll take a Canadian cheque though. They usually hold it for about a week until it clears and I have to fill out extra deposit forms for it. They don't keep foreign currencies though. Pain in the butt that is.

[Krikit 1,164]

Suntrust SUUUUUUUUUUCCCKKSSS for cashing Canadian cheques! Don't EVER use them. They're evil.

Luckily you're using RBC. Trailmix uses them.... perhaps she knows what they're like.

[jonandmary 0]

Never tried it.

A thought for those in the midwest (chicago area) ... Harris is owned by Bank of Montreal. That might be an easy in, but who knows. There are no RBC's up here

[trailmix 77]

Suntrust SUUUUUUUUUUCCCKKSSS for cashing Canadian cheques! Don't EVER use them. They're evil.

Luckily you're using RBC. Trailmix uses them.... perhaps she knows what they're like.

We do have both an RBC account in Canada and an RBC Centura account - I have never tried to deposit anything Canadian though. As someone mentioned, it's probably best to call them and if you don't get the answer you want, as Reba mentioned, they (Centura) do have some Canadians working for them so you might want to ask to speak with one of them.

Since you can transfer money directly from your Canadian account to your U.S. account and the other way around, you would think it shouldn't be a problem

Edited June 22, 2008 by trailmix

[Marilyn. 340]

Yes, the bank will have no issues depositing the check. They will give you the U.S. dollars per their conversion rate on the date of deposit. Sometimes, they will hold the check (make it unanavaile) for a period of time until the check clears.

Really?? that's not been my experience.. at all..

Navy federal won't cash a CDN check - Period.

BOA will - but they will hold the funds for 2 weeks, use a 3rd party intemediary for the exchange and clearing and don't seem to want to disclose how much in fees it will cost or what they will give for an exchange rate.

I kept my CDN bank account open and send checks to it via mail, or have my mother deposit them for me on the CDN side.. Then i use Custom Clearing House (NO FEES) to transfer the funds back to the US..

I'd call Centura.. they'd be able to tell you right away

this is what I did..

I added my mom to my account and left it open.. although what I should have done right aways was close down the chequing part of my account and just leave the savings open.. which I did about a year or so after I moved here.. with the chequing they would take a service fee out every month and with the savings account they would only take out a service fee if the account was used...

my mom likes the fact that when she wants to send me money she can just deposit it into that account and I just use my ATM card to take the money out down here...

[SonoranSongbird 3]

I'm glad I saw this thread. This is something I thought would not be a problem--I assumed they would hold the check to wait for it to clear for perhaps longer than they hold out of state checks from my parents, but I didn't expect it to be a big deal otherwise. I asked my bank and it seems direct deposit works fine but they have some major malfunction about actual physical checks. She said something about having to collect it from the bank on which it was drwan, though---what does that mean? Does it just mean it's going to be held for extra time to clear or that it can't be done at all, period?

[Reba 2]

It means they'll hold the funds until they've cleared from the originating bank in Canada.

[MissStacey 1]

I've deposited several cheques in my US account at Capital one. Each time they charged an 8 dollar fee and held it for so many days until it cleared.