Quote:
Originally Posted by Nufy
before I go to the Bank and ask...
I have a check and am expecting another from United Airlines as compensation for lost luggage.
There is no indication as to whether the check is in US or CDN funds...
Can the bank tell...
If in US funds will I have to open a US bank account ?
It might be worth it as the second check will be coming as well.
Thanks.
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The account the check (
) draws from will determine whether the funds are in US$ or CA$ and your bank should be able to tell.
If it's a US check, from a US company, chances are high it will be in US$.
You do not have to open a US$ account to deposit US$. Your bank will charge you a less-than-favourable forex rate, but unless the check(s) are 5++ figures, it's not enough to justify opening a new account, the time involved, the fees, etc... Besides that, once the US funds are in your US account, the rate charged to transfer them into a CA$ account is usually the same they would have charged in the first place.