Canadian Expat wanting to buy bitcoin using CAD with a Canadian bank account

Bitcoin Questions and AnswersCategory: General questionsCanadian Expat wanting to buy bitcoin using CAD with a Canadian bank account

Josh Skurnik asked 1 year ago

I moved to the US a year and a half ago, and my money is just sitting in my Canadian savings account. All of these exchanges require a utility bill showing a Canadian address, and the P2P exchange sellers want a Western Union or Money Gram, which is tough to do from the US when it’s a Canadian bank. Any one have some advice?

1 Answers
Steven Hay answered 1 year ago

Hi Josh,
 
I’m not too clued up on this subject but isn’t it possible to open an account with a US bank which allows you to bring in your CAD as USD? I believe this is known as cross-border banking and I’ve seen several Canadian banks offer it as a service. Of course, I’m not sure that banks offering this in the US will be compatible with your Canadian bank…
 
Essentially, I think the easiest method will be to bring some CAD over to the US, whether you use PayPal or wire¬† transfer to fund a new US-based bank account. If it’s not possible for you to open an account with a US bank, perhaps bring it into a trusted friend’s account and have them purchase the Bitcoin for you.

Bitcoin Video Crash Course 

Dummy-proof explainer videos enjoyed by over 100,000 students. One email a day for 7 days, short and educational, guaranteed.

We hate spam as much as you do. You can unsubscribe with one click.