Q about depositing a Canadian Chq in the US.

[L_n_O 3]

Well, the work place doesn't do direct deposit, F'ers!

So, I'm gonna get my final cheque mailed to me in the US and then what???

Cuz I guess I can ask them to write CDN FUNDS in the memo line.. but I know some US banks don't deposit Canadian cheques. (Had a problem with Ol once)

Any experiences you want to share?

(PS, I want to avoid having my parents get involved and doing stuff.. too much of a pain)

[misa 2]

There's no easy way around it as U.S. banks are very difficult when it comes to Canadian cheques. Keep your Canadian account open especially if you're applying for EI. I don't think they'll do direct deposit with U.S. banks.

So... if you keep your Canadian account open, you can mail the cheque to your home branch and ask them to deposit it or ask a friend to do it for you (any branch of the same bank).

My sister deposits all my cheques for me and I gave her my ATM card since I don't need it here. I just transfer all my Canadian money to my U.S. account through Custom House.

[Flames9_RN 358]

Every USA bank is different, so you would have to goto your bank and ask. I had huge hassles at Wachovia depositing a Cdn cheque, Luckily the bank manager took pity on me and sort of assigned a teller to me,lol They didnt charge me a fee, BUT the exchange rate wasn't that great. If I went to another teller or branch, they wanted to charge me a $75 fee!! Plus at first they would put like a 10 day hold on the $$$$ (they have to send it away to their international branch) So it was a huge pain. And if that teller that knew what to do wasn't there, I just walked out and came back on another time! Thats why i ended up going with Customhouse!! gave my family my bank card! Would mail home any Cdn cheques, they deposited my $$$ into my CDn acct, then used Customhouse to transfer the $$$$.

[L_n_O 3]

HAHA ya right

I just called my bank (President's Choice Financial - operated by CIBC) and they told me I can send the cheque to this mail in deposit address and they can do it.

But they said if I plan on moving to the states permanently, I have to close my account which means I have to pay off my $5000 line of credit in FULL now.

ya

okay.

[djc 0]

It must depend on where you live and what bank you use. I use National City and Charter One. For National City, they just give you whatever the exchange rate is, minus however many percent they steal and it takes three days. For Charter One, I think they wanted to charge me a flat fee of $15, give me a crappy rate, AND it would take for-ever to go through.

I can see how CIBC wants you to pay back your line of credit now, before you move, because they can't come after you if you stop paying!! BUT, you can have a regular banking account (checking/ATM services).

... I think.....

[Kathryn41 3,205]

Wow. I had no problems with TD Canada Trust at all. In fact, they helped me transfer the accounts to ones that had the smallest user fees that would be most suitable for keeping it open but living in the US, and I still have the line of credit attached to the account as well. I chose to receive mailed statements and they arrive regularly plus they assisted me in setting it up for managing on-line as well. You may wish to see if you can open an account at a another bank that will allow you to keep it open while you are still in Canada.

[Krikit 1,165]

I've had the same experience as Kathryn wrt TD Canada Trust.

HOWEVER, read this post and you will see why I heartily recommend you don't cash Canadian cheques at US banks.

[Flames9_RN 358]

I have a PC acct. I just changed my addy to my parents address!! They told me as wel lthat I would have to close my acct. As far as they are concerned I live in Sk!!

[misa 2]

I also changed my address with my bank to my sister's address in Canada. Same with my Canadian credit cards. I'm still paying them off (don't use them though) but I don't want to close them out since I don't have any credit cards in the U.S. to use in case of an emergency.

Edited September 19, 2007 by misa

[L_n_O 3]

Ya,.. I moved back home with my parents in march to save for the big move..

so... "I'm going to live with my parents forever!!"

as far as PC is concerned =)