Personal Finance

HOw do i get money from Harris bank in USA to Canada?

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  • Apr 3rd, 2011 2:45 am
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Deal Addict
Jan 14, 2009
1072 posts
77 upvotes

HOw do i get money from Harris bank in USA to Canada?

I know one option is to withdraw cash from bmo instant tellers. Could I just right a harris cheque to myself and deposit in my scotia bank account? I can then transfer to my ing direct US account. Ing was offering 1 Percent which beat the harris rate. Im selling quite a bit of stuff on ebay which is generating US dollars. Is money very safe in US banks? Im guessing they are not insured like in Canada.
1 reply
Deal Addict
Feb 7, 2002
1755 posts
264 upvotes
GTA
US dollars in US banks are insured by the FDIC. They are not insured in Canada by the CDIC, unless they are converted to Canadian dollars.

An easy option for transferring money between your bank in the US to a US dollar account here is with cheques. But if you want to convert it to Canadian, use an FX place like XE trade. They're quick and their fees are included in their exchange rates.
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