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.

Dave Lundberg Casa Grande, Arizona.

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.