Hi,
I was wondering if I were to sell a pair of cuffs from the U.S. and a buyer in Canada sends me a check for $300, once deposited, would I get $300 US in my bank or will I get more $$ or less$$?
His check is from the Royal Bank of Canada.
I could check international rates and such, but thought it wise to ask here first.
L

You might get a fee from the bank to convert the check over.

Good point!
I will have to factor that into the works!
Thank you
L

300.00 CAD = 253.068 USD
Canada Dollars United States Dollars


1 CAD = 0.843561 USD 1 USD = 1.18545 CAD


You would receive $253. You get be out $43.00US?

Sounds like I am getting scammed by this deal.
I am glad that I came to this board first.
Thank you Kevin...I appreciate the info!

L

If the check has a bank address in the US under a 'Payable at' or similar field and it has the MICR text at the bottom, then it would be treated as a US check. This does not sound like it, especially if the amount is in $ Canadian. This goes for foreign checks that come from US$ accounts.

Be careful in cashing a foreign check, it could cost you up to $100US. This amout is pretty fixed regardless of the amount on the check.

Canadian banks can issue checks payable in the US. Ask for them to get a check payable in the US from their bank.

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I have been buying handcuffs from the US for years and i always send US money orders.Sending a checque means you have to wait for it to clear and i would rather you have your money ASAP.Even a bank draft from canada to the US might need to clear,also checks in canada are in canadian dollars.Ask the buyer to send you a money order if he wants it that bad he will pay the money order fee.I know if i want something i usually get it (unless im out bid)I wont even except a checque from my friends and most are police officers.

LINDSAY & ALL ::: DO NOT accept a CANADIAN BANK CHECK of any kind !!!! as it will be in CANADIAN DOLLARS PERIOD -- EVEN IF it is written U.S dollars.... only accept cash or money orders or certified or cashiers checks in U.S. FUNDS... plus 99.9% of U.S. banks will charge you from $8. to $30.. to COLLECT the $$$ .... joe

I've always had them send Postal Money Orders, you get the amount on the MO and the post office does not charge a fee.

The slight downside is if you live in a smaller town the teller may not have the amount available in their drawer. Usually I have to hit them up just before closing.

And then there are some dealers one should never send any money to in any currency or you run the risk of them ripping you off and not sending what you paid for or not issuing a refund of any type.