Banking between US and Canada - Help!

[Benni]

I'm going to B's in April to marry and stay there for 3 months. Then back and forth over the months until my Permanent Residency comes through.

I get a Social Security check every month and am trying to figure out the best way to transfer it to Canada.

I talked with PayPal (I have a US PayPal account) and these are the steps they said I needed to take:

--First is to open a Canada checking account when I get there
-- Then open a Canada PayPal account.
--Transfer my check from my US bank to my US PayPal account
--Transfer that to my Canada PayPal account
--Transfer it from Canada PayPal to my Canadian bank.

Jeez! That's a lot of steps!! Anyone have advice on an easier way to do this?

[snow_girl]

That seems like a pretty easy way to me. Do you have online banking? You could just use your visa for everything and then pay it off online with your US account.

[Benni]

Do you have online banking? You could just use your visa for everything and then pay it off online with your US account.

Yes, I have online banking. Not sure I understand what you mean -- use my debit card for everything??

[snow_girl]

Do you have a credit card? Use your credit card in Canada instead of incurring bank charges by withdrawing money. Then go on your online banking and pay off your credit card with the social security check that goes into your bank account.

[Benni]

My bank doesn't charge for withdrawals and I try not to use my credit card except for emergencies plus it has such high interest. But, that might work. Have to think about it. Thanks!

[dizzyupthemeg]

My SO just opened an American account with RBC. It makes transferring money to each other so much easier. Could you look into getting a Canadian and American account with them? Have SSA deposit your money to the American account and just transfer that to the Canadian one.

[Benni]

I didn't know you could do that -- 2 accounts at one bank. Thanks!

I don't want to change where my SS pay is deposited, though, until I actually move to CA to live there. The paperwork takes too long and is so involved.
I'd rather just do it once when I'm there permanently.

[snow_girl]

If you move to Canada permanently, won't your SS checks stop?

[Benni]

No they won't stop. That's why I opted for Permanent Residency rather than Citizenship to CA.

That means I am a resident of both countries and still have the benefits from each. The only thing I can't do, in Canada, is vote -- don't care about that.

[ioanna]

For me it's two accounts, one for each country. I withdraw from the ATM and deposit into my US account; it costs me less in fees than to do a transfer (and I don't need to wait.)

My suggestion would be to see which way costs less in fees and go for that!

[Benni]

I withdraw from the ATM and deposit into my US account;

I don't understand -- withdraw from which ATM?

[snow_girl]

I don't understand -- withdraw from which ATM?

Not really sure what you don't understand? You withdraw the money from an ATM in Canada with your US bank card.

[Benni]

Oh! So, I just leave my SS pay in the US bank and use the debit card in Canada just like I do here?

[snow_girl]

Oh! So, I just leave my SS pay in the US bank and use the debit card in Canada just like I do here?

Correct

[Benni]

Oh my! I've been making it more complicated than need be! I called my bank and they said all I have to do is call them before I leave for Canada and let them know I'll be using it there. They'll put a note on my account and all will be good to go.

I feel like an idiot