What's the best bank to deposit US$ cheques in Canada? - GoFuckYourself.com

nickutis · 10-24-2010, 09:12 PM

Any banks with better fees than pcfinancial charging 15$ per foreign currency cheque?

Agent 488 · 10-24-2010, 09:21 PM

scotiabank is like 2-3 bucks. but they can be retards about holds. to me anyway.

Yngwie · 10-24-2010, 09:26 PM

Quote:

Originally Posted by nickutis

Any banks with better fees than pcfinancial charging 15$ per foreign currency cheque?

pcfinancial is shit. Try Royal Bank or TD.

kaori · 10-24-2010, 09:33 PM

Just open a US account - no charge to deposit cheques...
then transfer it to your CAD account after...

shake · 10-24-2010, 09:49 PM

We use CIBC with USD bank account - no fee. Also have a USD credit card too which we pay directly to avoid conversion fees when not needed.

nickutis · 10-24-2010, 09:51 PM

Quote:

Originally Posted by Yngwie

pcfinancial is shit. Try Royal Bank or TD.

RBC:

Cheques written in currency other than that of the account $15.00 in currency of account

TD:

5$

Not sure about opening US account though.. Guess that's a really good idea even with 15-20$ monthly account fee, since depositing cheques are free or 1$ per item

Fucksakes · 10-24-2010, 10:02 PM

I dont ever recall being charged and I am with TD

Yngwie · 10-24-2010, 10:19 PM

Quote:

Originally Posted by nickutis

RBC:

Cheques written in currency other than that of the account $15.00 in currency of account

TD:

5$

Not sure about opening US account though.. Guess that's a really good idea even with 15-20$ monthly account fee, since depositing cheques are free or 1$ per item

When I had an account with the Royal Bank I never paid fees like that. Of course, I haven't had an account with them in about 5 years so things may have changed. I just know that when I would deposit cheques there were no fees and no hold/freeze, but as I said, the rules may have changed.

Linguist · 10-24-2010, 10:22 PM

Neither TD or BMO ever charged me.

However BMO has a retarded rule of a mandatory 30-day hold for foreign checks. TD's hold is 15 days.

Best advice for Canadian banks, make friends with a teller. Check holding is 100% discretion of the teller. I've deposited $5k+ USD checks at BMO with no hold. When I'm not depositing at my home branch, I get 30-day holds for $60 checks. That's when I tell them to fuck off and march to TD or to the home branch.

the Shemp · 10-24-2010, 10:48 PM

i bank at the local credit union...no charge for USA checks and no hold back...

amateurcanada · 10-24-2010, 10:50 PM

No doubt, TD - US currency account - 0

Tempest · 10-24-2010, 10:53 PM

Pretty sure that the standard policy for most banks is to hold the check for X days and they also tend to charge some fees for them... But if you have a reputation with them they'll start to waive them.

BMO charged some outrageous fee per check and would hold for 20 business days. Once you've built up a rep with your local bank, they'll stop the hold for you.. Also, opening a US account does away with the fees... However, I think you have to open it as a business, unless you're in good with them and they're willing to do you a favour.

Scotiabank doesn't charge me anything but they will hold them until you build up a rep.. However, they also have this "cashback" thing so they won't hold the first $X of the checks deposited.

facialfreak · 10-25-2010, 12:30 AM

TD here .... not only is their fees schedule very competitive, but their hours ROCK -- they are open Sundays now too!

Sexier · 10-25-2010, 01:35 AM

Used BMO , $2 dollars charge per cheque

BlackCrayon · 10-25-2010, 04:35 AM

i use td. US account + their borderless plan means zero fee for cashing checks and i even get a better rate than those without the borderless plan. use the same branch for 6 months or so with no bounced checks and they probably won't hold them either. i been depositing checks there for 10 years and never had one held. sometimes certain tellers want to hold them but i just put up a bit of a stink, tell them i've never had any held and they always let it go once they see i do this reguarly.

JFK · 10-25-2010, 05:13 AM

Quote:

Originally Posted by facialfreak

TD here .... not only is their fees schedule very competitive, but their hours ROCK -- they are open Sundays now too!

where are you located, TD here isnt open on sundays. We have a US acct at TD as well

Quagmire · 10-25-2010, 05:47 AM

charged? wtf. I have never been charged to deposit any foreign currency cheques with TD.

Agent 488 · 10-25-2010, 07:15 AM

some much of it is up to the tellers, which frustrates me and made me switch to epass in the first place. sometimes there is no hold, sometimes 7 biz days, sometimes 20 (official policy).

sometimes the check fees vary. sometimes a few bucks, sometimes they don't notice they are american so nothing.

sometimes they are interested in what i do and are nice other times they treat me like in just got paid from bin laden.

i find there is much discrepancy between the official policy and what the tellers enforce. so those who say there are no fees or holds you might have just been going to that bank since you were a paper boy or something.

Bomber8888 · 10-25-2010, 07:18 AM

I've never been charged for depositing a U.S check.. open up a TD borderless acct

EonBlue · 10-25-2010, 07:31 AM

I use ING Direct. No fees ever. 15 day hold. Transfer funds out to my TD account.

TheLegacy · 10-25-2010, 07:38 AM

I use TD bank and had scotia - Royal, all of them basically said if you open a US bank account with them that there are no charges then just transfer it into your CA account

Phoenix · 10-25-2010, 07:58 AM

open a us checking account....td...no fees...and no holds...if you have a good credit rating...or something..they checked me out at first many years ago....but since...never a hold

Angry Jew Cat - Banned for Life · 10-25-2010, 08:08 AM

Quote:

Originally Posted by the Shemp

i bank at the local credit union...no charge for USA checks and no hold back...

same. 8char

fris · 10-25-2010, 08:18 AM

i use TD best evar

pimp3611 · 10-25-2010, 08:20 AM

I use a TD borderless account. You also get the best exchange rate when transferring USD -> CND with TD's online banking.

Only shitty thing about TD is you have to actually go in the bank and get it line to deposit checks which is a waste of time.

I use to bank at CIBC and would deposit all my US checks at the ATM (which was also less better because I didn't have to listen to nosy fucking tellers asking me what I do)

HBKKH · 10-25-2010, 10:29 AM

royal will hold for a month until you can get access to the funds.

garce · 10-25-2010, 12:18 PM

I bank at TD and they haven't held any of my $US cheques since 1999. They don't charge me any fees to deposit them, either.

If a new teller that I don't know tries to pull any of this, I just ask to speak with someone that I do know and it gets cleared up real quick.

10-24-2010, 09:12 PM	#1
nickutis Confirmed User Join Date: Dec 2002 Posts: 719	What's the best bank to deposit US$ cheques in Canada? Any banks with better fees than pcfinancial charging 15$ per foreign currency cheque?

10-24-2010, 09:49 PM	#5
shake frc Industry Role: Join Date: Jul 2003 Location: Bitcoin wallet Posts: 4,663	We use CIBC with USD bank account - no fee. Also have a USD credit card too which we pay directly to avoid conversion fees when not needed. __________________ Crazy fast VPS for $10 a month. Try with $20 free credit

10-24-2010, 10:22 PM	#9
Linguist Confirmed User Join Date: Apr 2004 Location: Toronto, ON Posts: 1,706	Neither TD or BMO ever charged me. However BMO has a retarded rule of a mandatory 30-day hold for foreign checks. TD's hold is 15 days. Best advice for Canadian banks, make friends with a teller. Check holding is 100% discretion of the teller. I've deposited $5k+ USD checks at BMO with no hold. When I'm not depositing at my home branch, I get 30-day holds for $60 checks. That's when I tell them to fuck off and march to TD or to the home branch. __________________ 315-310

10-24-2010, 10:48 PM	#10
the Shemp congrats to the winners Industry Role: Join Date: Nov 2001 Location: Echo Beach Posts: 10,891	i bank at the local credit union...no charge for USA checks and no hold back... __________________ i use Vacares...so should you Submit your picture galleries to my site...Outlaw TGP

10-24-2010, 10:50 PM	#11
amateurcanada Confirmed User Industry Role: Join Date: Jul 2001 Posts: 3,766	No doubt, TD - US currency account - 0 __________________ be our partner - join nichepartners today will.assum.producer @ AmateurCanada.com / icq: 30146166 / facebook.com/will.assum / #amateurcanada

10-24-2010, 09:21 PM	#2
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	scotiabank is like 2-3 bucks. but they can be retards about holds. to me anyway.

10-24-2010, 09:33 PM	#4
kaori Confirmed User Join Date: Apr 2005 Location: Montreal Posts: 1,569	Just open a US account - no charge to deposit cheques... then transfer it to your CAD account after...

10-24-2010, 10:02 PM	#7
Fucksakes Shit... Fuck! What the Hell? Industry Role: Join Date: Dec 2003 Posts: 7,567	I dont ever recall being charged and I am with TD

10-24-2010, 10:53 PM	#12
Tempest Too lazy to set a custom title Industry Role: Join Date: May 2004 Location: West Coast, Canada. Posts: 10,217	Pretty sure that the standard policy for most banks is to hold the check for X days and they also tend to charge some fees for them... But if you have a reputation with them they'll start to waive them. BMO charged some outrageous fee per check and would hold for 20 business days. Once you've built up a rep with your local bank, they'll stop the hold for you.. Also, opening a US account does away with the fees... However, I think you have to open it as a business, unless you're in good with them and they're willing to do you a favour. Scotiabank doesn't charge me anything but they will hold them until you build up a rep.. However, they also have this "cashback" thing so they won't hold the first $X of the checks deposited.

10-25-2010, 12:30 AM	#13
facialfreak Confirmed User Join Date: Feb 2005 Location: Montreal Posts: 3,018	TD here .... not only is their fees schedule very competitive, but their hours ROCK -- they are open Sundays now too! __________________ Managed Shared Hosting starting at $4.99/mo Managed VPS starting at $29.99/mo

10-25-2010, 01:35 AM	#14
Sexier Confirmed User Industry Role: Join Date: Sep 2010 Location: Celt-Iberia Posts: 364	Used BMO , $2 dollars charge per cheque __________________ Webmasters Contact: \| skype: jp_sexier

10-25-2010, 04:35 AM	#15
BlackCrayon Too lazy to set a custom title Join Date: Jun 2003 Location: Ottawa Posts: 19,631	i use td. US account + their borderless plan means zero fee for cashing checks and i even get a better rate than those without the borderless plan. use the same branch for 6 months or so with no bounced checks and they probably won't hold them either. i been depositing checks there for 10 years and never had one held. sometimes certain tellers want to hold them but i just put up a bit of a stink, tell them i've never had any held and they always let it go once they see i do this reguarly. __________________ you don't know you're wearing a leash if you sit by the peg all day.. Last edited by BlackCrayon; 10-25-2010 at 04:37 AM..

10-25-2010, 05:47 AM	#17
Quagmire Confirmed User Join Date: Jul 2005 Location: Stinkin' up your bathroom Posts: 6,490	charged? wtf. I have never been charged to deposit any foreign currency cheques with TD. __________________

10-25-2010, 07:15 AM	#18
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	some much of it is up to the tellers, which frustrates me and made me switch to epass in the first place. sometimes there is no hold, sometimes 7 biz days, sometimes 20 (official policy). sometimes the check fees vary. sometimes a few bucks, sometimes they don't notice they are american so nothing. sometimes they are interested in what i do and are nice other times they treat me like in just got paid from bin laden. i find there is much discrepancy between the official policy and what the tellers enforce. so those who say there are no fees or holds you might have just been going to that bank since you were a paper boy or something.

10-25-2010, 07:18 AM	#19
Bomber8888 Confirmed User Join Date: Mar 2004 Location: Toronto Posts: 1,444	I've never been charged for depositing a U.S check.. open up a TD borderless acct __________________ Icq - 403858640 bomber.jason AT gmail dot com

10-25-2010, 07:31 AM	#20
EonBlue Apocalypse Industry Role: Join Date: May 2007 Location: Limbo Posts: 3,043	I use ING Direct. No fees ever. 15 day hold. Transfer funds out to my TD account.

10-25-2010, 07:38 AM	#21
TheLegacy SEO Connoisseur Industry Role: Join Date: Apr 2003 Location: Brantford, Ontario Posts: 16,516	I use TD bank and had scotia - Royal, all of them basically said if you open a US bank account with them that there are no charges then just transfer it into your CA account __________________ SEO Connoisseur Microsoft Teams: Robert Warren SEO Telegram: @TheLegacy54 RobertWarrenSEO.com

10-25-2010, 07:58 AM	#22
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,457	open a us checking account....td...no fees...and no holds...if you have a good credit rating...or something..they checked me out at first many years ago....but since...never a hold __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

10-25-2010, 08:18 AM	#24
fris Too lazy to set a custom title Industry Role: Join Date: Aug 2002 Posts: 55,304	i use TD best evar __________________ Since 1999: 69 Adult Industry awards for Best Hosting Company and professional excellence. WP Stuff

10-25-2010, 08:20 AM	#25
pimp3611 Confirmed User Join Date: Aug 2005 Location: Canada Posts: 357	I use a TD borderless account. You also get the best exchange rate when transferring USD -> CND with TD's online banking. Only shitty thing about TD is you have to actually go in the bank and get it line to deposit checks which is a waste of time. I use to bank at CIBC and would deposit all my US checks at the ATM (which was also less better because I didn't have to listen to nosy fucking tellers asking me what I do) __________________ :: ICQ: 272 198 634 ::

10-25-2010, 10:29 AM	#26
HBKKH Confirmed User Join Date: Jan 2008 Posts: 1,013	royal will hold for a month until you can get access to the funds. __________________ Seo and content marketing

10-25-2010, 12:18 PM	#27
garce Confirmed User Industry Role: Join Date: Oct 2001 Location: Toronto Posts: 7,103	I bank at TD and they haven't held any of my $US cheques since 1999. They don't charge me any fees to deposit them, either. If a new teller that I don't know tries to pull any of this, I just ask to speak with someone that I do know and it gets cleared up real quick.