ramsaymike
Niagara
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We are soon headed for the RGV - our first winter. I am trying to work out some of the basics. We have US accounts at 3 Canadian banks and a US Mastercard. So far so good. I have now been told that I can not get access to my US accounts at US ATMs. I can get access to my Canadian accounts but would end up paying a conversion fee which seems totally pointless as I have the US funds.
So how do I get cash other than bringing a fistfull? Other options?
Thanks. Mike.
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pianotuna
Regina, SK, Canada
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Hi ramsaymike,
I have a credit card and I prepay it and then do cash advances. They do not charge a "transaction" fee for the conversion.
ramsaymike wrote:We are soon headed for the RGV - our first winter. I am trying to work out some of the basics. We have US accounts at 3 Canadian banks and a US Mastercard. So far so good. I have now been told that I can not get access to my US accounts at US ATMs. I can get access to my Canadian accounts but would end up paying a conversion fee which seems totally pointless as I have the US funds.
So how do I get cash other than bringing a fistfull? Other options?
Thanks. Mike.
Regards, Don
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You can't take the Fisherman out of this Camper
Ontario, Canada
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Take cash for the first couple of weeks (or use the credit card). When you arrive.. open an account at a local US bank and make a deposit from your Canadian US $ account to your new account in the US bank. We opened an account in Florida last year (there are no service charges on ours) and that's how we do it. Along with our new US bank account we received a debit/credit card that we can use all over the US. Keep in mind that when you make your deposit into the US bank that it will take about 5-10 days for the cheque to clear so make sure you have enough cash to last until then.
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2chiefsRus
USA Somewhere
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Have you asked about using a debit card for purchases and getting cash back? That is how we got Canadian funds at Walmart this summer while we were doing the reverse trip.
Dave & Kathy
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Retiredblade
Western, Pa
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ramsaymike wrote:We are soon headed for the RGV - our first winter. I am trying to work out some of the basics. We have US accounts at 3 Canadian banks and a US Mastercard. So far so good. I have now been told that I can not get access to my US accounts at US ATMs. I can get access to my Canadian accounts but would end up paying a conversion fee which seems totally pointless as I have the US funds.
So how do I get cash other than bringing a fistfull? Other options?
Thanks. Mike.
Hey Mike,
Bring plenty of cash, tell you friend to do the same, help your neighbors to the South get out of this recession!
Sam
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Goodturn
Ontario Canada
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We are buying US travellers cheques and will deposit them in a Bank of America account, then use their debit card to withdraw and pay as we go. Travellers cheques are free to me as I'm over 60, and they're safer than carrying cash. We are attempting to cost average our US dollars by purchasing our travellers cheques when our $ is up. Also, there is no account fee or minimum balance when we use travellers cheques.
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Fizz
Ottawa, Canada
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A US bank account in your home bank is only good for keeping any left over US cash you bring back with you.
We usually convert a few hundred dollars to get us going then we rely on ATMs and WallMart.
My bank (Scotia) has an agreement with Bank of America where they don't charge a fee for using their ATM.
It's really no different from home.
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D&E Johnson
Ontario, Canada/Quartzsite, Arizona
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we headin' out this weekend, bringing money for the US!!!! and we'll spent it too..LOL..
We have a Bank of America checking acct, with the visa check card-which is like our debit only better..
We didn't open a US acct at a Canadian bank just for the reason you stated..No access to your money..we never get travelers checks, no one wants to take them..
As Fizz said, BofA is hooked in with Scotia. no atm fees. You can use you Canadian debit card for cash back at Walmart. The exchange is excellent right now. Last Feb it was 1.32 to the dollar-and not in our favor..so at about 1.05 its great. Have fun and don't worry about the exxchange, its only money.
Dona
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Goodturn
Ontario Canada
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I believe Bank of America will accept travellers cheques. Any definite knowledge to the contrary on this?
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quartzster
Winnipeg
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pianotuna wrote:Hi ramsaymike,
I have a credit card and I prepay it and then do cash advances. They do not charge a "transaction" fee for the conversion.
So because you prepay it you pay no interest charges or fees of any kind? If you did not prepay you would be paying high interest fees at the moment the cash withdrawal is taken
Which credit card?
* This post was
edited 10/20/09 06:24pm by quartzster *
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