How to Write a Check in Canadian Dollars

 If you're planning to move to Canada, then learning how to write a check in Canadian dollars is a must! Banks process over a billion checks each year, and it's important to understand what a cheque is before writing one. Unlike American cheques, Canadian checks must be spelled out in full. The payor and the drawer, or drawer and payor, must sign the cheque, which is then either cashed or deposited in the receiver's bank account.



While Canada's cheque usage is decreasing, making payments via cheques is still popular in some places. Despite the drop in recent years, cheques are still used by some commercial entities. In fact, a commercial cheque is worth on average $7128 Canadian dollars, while a personal cheque is worth just $396. The same goes for paying your mortgage. It is common for landlords to insist on a postdated cheque for the rent.

In some instances, you might have to write "USD" on your cheque, but the bank will convert it into CAD and credit your account. If your payor has a bank account in a different currency, you may need to write "USD" next to the cheque so that it will appear in their name. Depending on the value of your cheque, you might even be able to make a nice profit.

If you're traveling to Canada, writing a check in Canadian dollars can be an easy and convenient way to receive your money. You can deposit it in your bank in Canada through an ATM, or you can visit a check-cashing store in your country. Just make sure you're careful about fees and exchange rates! There are several options for cashing Canadian checks in the U.S., and cashing them at a Canadian bank branch can be less expensive and easier.

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