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Lulumom

US tuition payments for international/Canadian students

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Lulumom

Hi, I hope it is okay to ask this here. I am curious to learn about the experience that parents/guardians have had with transferring tuition/residence payments internationally, i.e. from Canada to the US. What has been the preferred approach i.e. a credit card payment or an international transfer? Also, when attending a year round residential program, has your DD/DS find it helpful to open a local/US bank account or did they use their Canadian credit/debit card for living/ongoing expenses? Thank you!

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Thyme

Hi lulumom. We opened a US bank account with RBC. They have an American wing to their operations and that saved us a lot in fees. It was very easy to open and manage. The main thing to remember is avoid going to ATMs. They ding you each time. It took some reminding but DK finally got the hang of planning ahead and keeping enough cash on hand. RBC have him a debit card which helped a lot too. 

 

With the accommodation I phoned each month and paid over the phone. Took about a year to recover from the shock associated with seeing the currency converted each month on my credit card bill!

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Amie

I agree with Thyme about RBC.  DD is American and attending a Canadian university.  We tried a couple of other ways, but with RBC transferring money was relatively easy and we got a reasonable exchange rate without so many fees.

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Lulumom

Thank you so much Thyme and Amie! This is very helpful.

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mom2

Ditto here.  We opened a US bank account when our dd spent time in the US.  She paid her rent by cheque.  For this dd, the local bank was located in between the school and her apartment, so avoiding other bank ATMs was easier.

Another daughter also studied in the US, but she was 21 when she went so opened the account on her own.  I don't remember exactly how she transferred funds - must have had the local bank here transfer money. 

 

 

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