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Peter Stahl
08-22-2006, 7:22 PM
How would you go about paying someone who lives in Canada. If I pay them by check will the bank in Canada treat my check like it's american currency and do the right exchange rate etc. This is a private person to person transaction. I know they do the conversion if you use you credit card.

Doug Jones from Oregon
08-22-2006, 7:29 PM
Peter..the banks are pretty much used to seeing checks from the states and handle the conversion just fine.

What I have done in the past is noting on the check, US FUNDS anywhere in the body.

Doug

Michael Cody
08-22-2006, 7:34 PM
How would you go about paying someone who lives in Canada. If I pay them by check will the bank in Canada treat my check like it's american currency and do the right exchange rate etc. This is a private person to person transaction. I know they do the conversion if you use you credit card.

This is my opinion as an Ebay Seller and buyer:

1. Paypal -- best and most convenient
2. US International Postal Money Order -- safest
3. Western Union - pain the rear but they do international money orders

When you pay by Money Order or Western Union -- you calc the rate of exchange and pay the correct amount in US dollars. IE your seller should already expect a price in US currency not Canadian. The bank does not then do currency conversion for you. A lot of Canadian banks will handle American funds in checks drawn on American banks, but not all. They will charge a currency exchange and a service charge normally. Me I vote for Paypal first. But a USPS International Money order is OK.. "MAKE SURE YOU GET AN INTERNATIONAL MONEY ORDER!!!!" when you go to the post office, most banks in CA will not take a domestic one.

Rick Doyle
08-22-2006, 9:44 PM
How would you go about paying someone who lives in Canada. If I pay them by check will the bank in Canada treat my check like it's american currency and do the right exchange rate etc. This is a private person to person transaction. I know they do the conversion if you use you credit card.
Hi Peter,

Any Canadian bank will handle the transaction seamlessly. If the cheque is written on an American Bank, which is what you're talking about, the money will be deposited in the payee's account in U.S. Funds at the current day's exchange rate.

You don't have to write anything special on the cheque - just do whatever you would normally do when you write a cheque in the U.S.

Rick

p.s. if you want to test this out - just send me a cheque and I'll let you know how it worked out, o.k.?:)

Steve Evans
08-22-2006, 9:51 PM
Rick

I have a US$ checking account so that I don't get hit with that little spread between buying and selling currency. It helps a little bit.

Steve

Steve Clardy
08-22-2006, 9:51 PM
If I get something from canada, [ebay], they usually ask me to send a international money order.

Ben Grunow
08-22-2006, 10:13 PM
Send em some LaBatts Blue or Molson.

Peter Stahl
08-22-2006, 10:17 PM
Thanks for the replys. Think I just send the check, sounds like it should be ok. The person I'm dealing with is someone my daughter knew while she was stationed up there.

Art Mulder
08-22-2006, 10:20 PM
p.s. if you want to test this out - just send me a cheque and I'll let you know how it worked out, o.k.?:)

Now now, Rick, that isn't scientific. He needs to collect several data points. I'll offer my services as well. Send me a checque and I'll verify the transaction for you...:rolleyes:

Seriously, I'm surprised at Michael's comments. I've never had a problem doing a Canadian Money <-> US Money conversion at a Canadian bank. (Perhaps the smaller credit unions might not be set up for it...) I can walk into any branch of my bank, and ask for US cash, and get it. I can give them a checque from my Grandma (birthday money :p) and tell them it is drawn on a US bank, and they'll deposit it (or cash it) into my account and make the exchange right then and there.

My bank http://www.tdcanadatrust.com/ has a "Foreign Exchange" link right on their main page, and they tell you what you'll get charged for the exchange.

Actually... item #2 and #3 from Michael's note are still in US funds, so it'll still require the bank to do a currency conversion for the recipient. (so is paypal, but the user may not actually take the money out)

Rick Doyle
08-22-2006, 10:30 PM
If I get something from canada, [ebay], they usually ask me to send a international money order.
That's pretty much what I get too when I buy off of ebay - in Canada or the U.S. They want Paypal, a Credit Card or a Money Order. Nobody trusts personal cheques unless you know the individual.

Michael Cody
08-23-2006, 5:12 PM
Seriously, I'm surprised at Michael's comments. I've never had a problem doing a Canadian Money <-> US Money conversion at a Canadian bank. (Perhaps the smaller credit unions might not be set up for it...) I can walk into any branch of my bank, and ask for US cash, and get it. I can give them a checque from my Grandma (birthday money :p) and tell them it is drawn on a US bank, and they'll deposit it (or cash it) into my account and make the exchange right then and there.


In my defense:p, I did say most banks handle the conversion fine, "but not all". I've bought from Canada in 20-30 exchanges on Ebay w/o problems. I always send them US funds calc'd for the exchange rate the day I mail the funds. IE. today for 75$ Canadian, I would send them 67.56$ in US funds via International US Postal Money Order ... you are correct it's in US funds but it deposits and is exchanged. That is why I like Paypal... they handle it all for you.. I would never send a personal check.

In fact I would never send a personal check anywhere, there is way to much info on a check for me to give it to a stranger via mail! There is no security on an ACH (automated clearing house) transaction and all the info they need to withdraw money directly from your account is on every check you write. Not to mention most sellers will not take them either - at least on Ebay. Paypal is best for this IMNSHO.

Rick Doyle
08-23-2006, 5:23 PM
I agree with you there Mike - I seldom write a cheque to anyone anymore. I pay my bills thru my Bank's Internet system and I use Paypal, a credit card or cash for most everything else. I only carry about 2 blank cheques around in my wallet anymore - just for emergencies.

Robert Mickley
08-23-2006, 9:07 PM
Now now, Rick, that isn't scientific. He needs to collect several data points. I'll offer my services as well. Send me a checque and I'll verify the transaction for you...:rolleyes:


Better send me one to, you need a control check to test aginst the others. :D :D :D