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Bank Draft in Canadian Dollars?

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  • 19-05-2013 7:31pm
    #1
    ride-the-spiral
    Registered Users Posts: 1,263 ✭✭✭


    I'm going to Canada for 3 months next sunday and we have our accommodation sorted. The person we're renting from wants a security deposit and she said that the way she usually does it is by taking a cheque and usually just returning the cheque at the end of the stay. However neither me nor my partner have chequebooks for our accounts.

    It seems that the easiest way to it would be just to get a bank draft for the amount. However, I just want to make sure (If necessary) she will be able to cash the bank draft in Canada?

    Also, is it possible to get the draft here such that it will be for "$500" as opposed to the (current) equivalent in euros?

    EDIT: It seems I've misunderstood what a bank draft actually is. So for a bank draft, the money is taken out of your account straight away, correct? That's not exactly ideal for the situation as I have to have a $2500 in my account on arrival in Canada, so can't really take that much out of my account before I get over there. Is there anything I can get which acts as a cheque then?


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    #2
    ravima
    Registered Users Posts: 848 ✭✭✭ravima


    Yes. Your bank should be able to give you a bank draft drawn on a Canadian bank for whatever sum you want. Landlord will then be able to lodge to her account.

    On the return trip however, if you are given a Canadian dollar cheque for return of deposit, it will take an age to clear in Ireland and there will be fees involved.


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    #3
    galwayjohn89
    Closed Accounts Posts: 1,930 ✭✭✭galwayjohn89


    Firstly the $2,500 doesn't need to be in your account if you have $500 in bank draft and $2000 cash you'll be fine. Although none of us were asked for proof of funds.

    You can go into a cash money and get a bank drift over there but again you would pay upfront. Alternatively open up a back account and ask for a cheque book over there


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    #4
    spacebar5000
    Registered Users Posts: 4 ✭spacebar5000


    hi guys, I'm leaving next wednesday, do i need to prove i have money in my irish account
    then they expect to transfer to a Canadian bank when you touch down?


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    #5
    galwayjohn89
    Closed Accounts Posts: 1,930 ✭✭✭galwayjohn89


    We never got asked for any proof of funds. I'd imagine a bank statement from Ireland would be enough.


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