At 07:15 PM 9/4/98 -0700, you wrote: >Certainly someone in the Psroots area will have encountered this problem. I >haven't until just today. > >I recently made contact with a large family contingent in Alberta, and went >to their family reunion last month. Many pictures were taken, and I'd like >copies of them. Of course, I expect to pay for the copies, but was >immediately stymied by the thought of how can I send them money? > >I'd bet their banks charge a fee for converting money, or at least for >processing a US check. I expect more financial transactions among us for >similar reimbursables, both directions. I want to avoid those fees if possible. > >Or is this not a problem? My bank would charge admission to their building >as soon as they figure out how to do it. I can just see their eyes light up >when I bring in a check drawn on a Canadian bank.... > >I hope this is a trivial problem. Thanks for the advice! > >Marty Marty & all - In my past life, I was the Operations Officer in the International Division at Puget Sound Bank, in charge of the computer network and in charge of the Foreign Exchange area. I traded in foreign currencies and set the bank's foreign exchange rates each day. So I have a tiny bit of experience on the topic. ;-) Canada has a dual-banking system. They have bank accounts available in both Canadian and US dollars. Often the rates are more favorable for them to convert the US$ to C$, than it would be for us to do the reverse here in the US. And they rarely charge their customers a fee for doing these types of transactions. Here in the US, most often you will be charged a small fee in order to obtain a draft in Canadian funds, or a draft in US funds on a Canadian bank. In addition to the fee, you would be subject to the exchange rate set by your bank that day. Some banks have a fee for exchanging currency as well. However, many banks in areas along the Canadian border will exchange currency without a fee. In general, with all foreign exchange transactions you will get the best exchange rate by using your Visa credit card. The Visa charges are put together in bulk and traded in several thousand dollar increments, thus obtaining a preferred rate. The Visa company passes the preferred rate on to the customers, showing up on your Visa statement with the US equivalent going against your balance. We use our own Visa card in all our transactions online and overseas, and are quite happy with the results and the exchange rates we receive. The absolute best transaction for you, if possible to do, would be to use your Visa card. If you cannot use a Visa credit card, the next best solution, especially for small transactions, would be for you to ask the people in Canada how much they need in US funds (based on their bank's exchange rates), then send your personal check to them and have them deposit it at their bank in Canada. This way the best exchange rate is obtained and there would be no additional fees at either end. Good luck, Cyndi