Best option to send money to Canada from USA?


#1

What would be the best way to send USD into Canada ?
Is there any limit on the max amount that can be sent at once ?
Arey there any tax/legal implications?


#2

RBC US is the US brank of the Canadian RBC they are a great option to bank with if you need to transfer money. Also, TD has a similar setup or you can just use wire transfers. Check with the bank if they have some kind of limit for safety. It’s legal to transfer your own money.


#3

ok cool. Will check them out.


#4

After you open a bank account with a Canadian bank you can transfer money from your bank to their using wire transfer like you would do from US to any other country (using SWIFT code, account number etc.). Usually there’s additional fee for this. Alternately you could take cash or cash equivalent instruments such as cashiers check, MO etc into Canada yourself and deposit. You have to declare any cash/cash-like instruments if they’re over CAD 10,000.