Best way(s) to send US dollars to Canada?

[Svnla]

Hi all,

A friend (in US) just called and asked me how to send some money (not much, a few thousands dollars, $5 to $6 thousands USD max) to his relatives in Canada (Vancouver I think).

What is the best way to send US dollars to Canada? I have never done that so have no idea.

Can he just send a check in USD and his relative will able to cash in Canada (after pay a fee to converse to Canada dollars)?

Any good suggestions will be appreciated. TIA.

Edit: Oh, he and his relatives are not very sassy in techno stuffs so no Paypal, GooglePay, and other fancy stuffs.

 

[T9D]

That's only like $50 in Canada.

I think they send the beaver or moose mail down at the end of the month.

For real though, paypal.

 

[someone16]

A check works, but usually a hold will be on the check for up to 20 business days.

Western Union should be good, but the sender does have to pay a small fee.

 

[Svnla]

T9D - they are not tech savy, so no paypal or any other tech stuffs.

somone16 - I did hear about check, does the receiver have to pay anything to converse the USD of the check into Canadian dollars?

 

[Oyeve]

Pack mule.

 

[Scotteq]

Just wire it from the sender's bank. Sender will need the recipient' account information. Sender will need to pay a fee.

 

[sdifox]

wire it

 

[rommelrommel]

x3 - wire it

 

[Tiamat]

Direct acct to acct transfer.

 

[Eug]

Direct transfer is best, or else a certified check or bank draft (subject to hold).

Note that if it's to a Canadian dollar account, then that can be a big source of lost money in terms of exchange rates. Regular accounts typically have mediocre forex rates, that have commissions a percent or two higher than cheap ones.

What I do is have a US dollar account, so I can accept direct US dollar transfers. I also get a better "commercial" forex rates as one of the perks of my "premium" US dollar account. Take a look here:

https://www.tdcommercialbanking.com/fx/rates/index.jsp

US DOLLARS 1.0614 1.0062
US BORDERLESS PLAN 1.0496 1.018

If you sell US$5000 and convert it to CAD for a regular account, you get CAD$5031.
If you sell US$5000 and convert it to CAD on a premium account, you get CAD$5090.

That "premium" rate isn't stellar, but it still means almost $60 better than the regular rate.

 

[Murloc]

third worlders usually use western union, I bet that doesn't require much tech knowledge.

Also can't you just deposit it directly on their account?

 

[sdifox]

third worlders usually use western union, I bet that doesn't require much tech knowledge.

Also can't you just deposit it directly on their account?

Neither Canada nor USA is third world.

 

[Iron Woode]

Nigerian Prince?