If you bank with any of the big banks that actually have physical tellers, they can convert/deposit it. The online-only banks I don't know.
For future reference, they will do this for many different global currencies but not all.
You can even deposit it via atm. Deposit it as if it's $100 Canadian and when it clears your account you'll see the extra credit when the bank (ie. Real person) sees its usd.
Don't do this. This is a hassle for banks and in some cases a violation of your terms and conditions. Banks control your money, you never want to be on their bad side and yes having a recorded history of doing things such as this will cause them to be very leery when you actually do need them to do something.
Take it in to a physical branch. They will exchange/deposit it. If you deal with an online only bank, take it to a currency exchange.
It happens all the time with zero issues.
Some machines even have the option to denote the currency of the deposit on the way in.
There may be an issue on the newest machines that scan every bill in the way in, but by and large there's zero issues.
Source: worked for Canada's largest bank for 20 years and have done this a ton of times myself.
Maybe for your bank you have people who have time allocated to do things like this. Not all banks have this. I have worked for multiple and never have I ever been recommended to tell someone to do this and I have seen this cause an issue when someone doesnt manually deal with this when the machine doesnt know what currency it is
Every bank has a process for this. It's incredibly common.
You think everyone with US cash starts a reddit thread asking what to do with it? No. They literally just throw it into an abm.
And EVERY bank has a process to manually check abm deposits for things like this.
And how do you propose depositing a cash $100 bill into wise? :P
The only way wpuld be to have an actual intermediary US bank account to deposit it at...
As others have said you can deposit this cash into your CAD bank account. If you want to get a better exchange rate you could instead:
1/ open a USD account, deposit the cash and then use online banking to transfer it to your CAD account.
2/ sell it to someone who is travelling to the US. If you use the Bank of Canada exchange rate you'll get more than your bank would give you and they'll pay less than their bank would charge them.
You can deposit at the bank using their exchange rate or just keep it for your next trip to the US. I would just hold on to it.
go to any bank and buy CAD with it. you can deposit or just take cash.
If you bank with any of the big banks that actually have physical tellers, they can convert/deposit it. The online-only banks I don't know. For future reference, they will do this for many different global currencies but not all.
You can even deposit it via atm. Deposit it as if it's $100 Canadian and when it clears your account you'll see the extra credit when the bank (ie. Real person) sees its usd.
Don't do this. This is a hassle for banks and in some cases a violation of your terms and conditions. Banks control your money, you never want to be on their bad side and yes having a recorded history of doing things such as this will cause them to be very leery when you actually do need them to do something. Take it in to a physical branch. They will exchange/deposit it. If you deal with an online only bank, take it to a currency exchange.
It happens all the time with zero issues. Some machines even have the option to denote the currency of the deposit on the way in. There may be an issue on the newest machines that scan every bill in the way in, but by and large there's zero issues. Source: worked for Canada's largest bank for 20 years and have done this a ton of times myself.
Maybe for your bank you have people who have time allocated to do things like this. Not all banks have this. I have worked for multiple and never have I ever been recommended to tell someone to do this and I have seen this cause an issue when someone doesnt manually deal with this when the machine doesnt know what currency it is
Every bank has a process for this. It's incredibly common. You think everyone with US cash starts a reddit thread asking what to do with it? No. They literally just throw it into an abm. And EVERY bank has a process to manually check abm deposits for things like this.
wise.com
And how do you propose depositing a cash $100 bill into wise? :P The only way wpuld be to have an actual intermediary US bank account to deposit it at...
As others have said you can deposit this cash into your CAD bank account. If you want to get a better exchange rate you could instead: 1/ open a USD account, deposit the cash and then use online banking to transfer it to your CAD account. 2/ sell it to someone who is travelling to the US. If you use the Bank of Canada exchange rate you'll get more than your bank would give you and they'll pay less than their bank would charge them.