This is a quick page about the cost of money orders (also known as bank drafts) at the major Canadian banks, as well as a few big credit unions for comparison. Keep in mind, this is 2010 data.
See this page regarding Canada Post Postal Money Orders.
TD Bank Draft: $7.50 in the currency of the draft
CIBC Bank Draft: $7.50
RBC Bank Draft: $6.50 each, any currency. They cannot sell US$ denominated money orders to non-RBC clients due to unspecified US Banking laws (which I have a feeling don't prohibit such issuance)
ScotiaBank Bank Draft: $6.50, any currency
BMO Bank Draft: $6.50
Of course, you may have some preferential deal with your bank to get free money orders/bank drafts. If you did, you probably didn't end up at this website anyway :)
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Thanks for this interesting and reliable post. Many individuals who are selling things door-to-door are perfectly honest and have a tough job. However, not all are, and some wish to do more than just to get you hopelessly addicted to infernally delicious cookies. A number of door-to-door frauds are being documented nationwide, so the amount of them active in many areas might be increasing. Some people end up needing installment loans to get by until the month is over after a scam.
Thanks for this interesting
Thanks for this interesting and reliable post. Many individuals who are selling things door-to-door are perfectly honest and have a tough job. However, not all are, and some wish to do more than just to get you hopelessly addicted to infernally delicious cookies. A number of door-to-door frauds are being documented nationwide, so the amount of them active in many areas might be increasing. Some people end up needing installment loans to get by until the month is over after a scam.
Bank Draft/Money Order Cost Fee @ Canadian Banks: TD, BMO, RBC,
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Hi Dan, Do you know of any
Hi Dan,
Do you know of any banks in Canada where you can process a bank draft/money order without holding an account with them i.e. paying in cash ? I know that you can do a postal money order with Canada Post, but are there any banks which let you do this without an account as well ?
Thanks,
Peter
Somehow, I think any bank
Somehow, I think any bank should do this for you, especially if it isn't for a very large amount.
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