Money Transfer Issue in the US

Winter 2006 CSANews Issue 61  |  Posted date : Jun 01, 2007.Back to list

Dear Bird Talk,

Please check the following information and alert our fellow Snowbirds of the following problems. I have been trying to transfer money from my Canadian bank U.S. Dollar account into my account in the Chase Bank in Arizona. They have instituted a new policy whereby it now takes fro 4 to 6 weeks to make this simple transfer. In my case it was by cheque but they tell me a draft is worse. This seems completely unreasonable to me and also to representatives of my TD Bank in Canada. As of this moment I still do not have the money transferred into my U.S. account although it was pulled from my Canadian account weeks ago I am trying to find a solution to this as it is very inconvenient and also costly as I had to take out a loan to carry me over until it arrives. Chase is the only bank I know that has started this policy but it should be stopped before it spreads. After numerous calls to Chase centre in Houston and trips to local bank I have had no satisfaction. I believe members of our organization should be made aware of this problem and pressure used wherever possible to stop this procedure.

Thanks
Dave Lundberg Casa Grande, Arizona.

Response:
Our first, and only, suggestion would be to take advantage of the CSA Snowbird Currency Exchange Program. There is no fee for a Lifetime Member and only $2 CAD per transfer for a regular member. There are rarely any additional charges at the bank as they treat our transfer as a payroll deposit.