hey guys, i know this seems lazy and i could've just made a simple call! well i'm at school right now and very busy with all those midterms and stuff

anyhow, just wondering if we can deposit USD paycheque through bank machine? because the amount we enter in on the machine is CAD, right? so how do i convert that amount from USD to CAD since the rates changes all the time?

or do i have to goto a teller and deposit it?

thanks haha

 

Go to a teller, i I think if you with CIBC you can enter american though.

Better to go to the teller and work it out that way.

 

just go to a teller because your exchange rate most likely wont be the same as the banks

 

in some atm...some have the american funds option but most of the time its better to go through a teller so they can tell you the exact foreign exchange.

 

You cannot deposit an US cheque into a CDN account. You need to deposit it into a US account. The ATM's do not do the conversion for you. What will happen if you deposit it, your account will be frozen until you contact the branch you deposit the funds into and they will then tell you, you cannot deposit a US cheque into a CDN account.

Take it to the branch and have them convert it for you. It won't take long.

 

thanks for the advice

does anyone uses "PC Financial Account" here?
because they don't exactly have a teller, but the pc debit card will work on all cibc machines...

maybe i'll go talk to that pc financial guy again later... =)

 

i have pcfinancial...

and im pretty sure you can enter it through the machine... I know CIBC you can enter american cash in it and it does the conversion for you. And since PC is pretty much CIBC you can do it...

But better call first but Im 99% sure.

 

you can deposit a US cheque or money into the bank machine... you enter in the CDN amount and when they process your envelope, they will convert the US amt to CDN and make an adjustment to your account for the difference... BUT if you deposit into the machine, most likely they will put a hold on the cheque because it takes longer for US cheques (yes, even if it's a money order) to be verified and cleared... if you want it to go into your US account you should do it at the teller because when you do it at the ATM they will automatically put it into your CDN account... this may not be for all banks so to make sure you should call your own bank 1-800 number...

hope that helps!!