Post: #1

Does anyone here know any way to transfer funds from an American account to a Canadian one? The only option I am hearing is a wire transfer which costs about 35 dollars (in South Florida).

Any other options would be appreciated.

Gracias, mi hombres.

Post: #2

You can mail someone a check and have them cash it or deposit it into your account.
Someone you trust, family member.

You can upload money to Paypal and then transfer to a different account as well.

Post: #3

I will charge you $20

Post: #4

(08-02-2012 02:38 PM)Parlay44 Wrote:  You can mail someone a check and have them cash it or deposit it into your account.
Someone you trust, family member.

You can upload money to Paypal and then transfer to a different account as well.

I can transfer from paypal to a Canadian bank acct?

Post: #5

(08-02-2012 02:57 PM)Moma Wrote:  

(08-02-2012 02:38 PM)Parlay44 Wrote:  You can mail someone a check and have them cash it or deposit it into your account.
Someone you trust, family member.

You can upload money to Paypal and then transfer to a different account as well.

I can transfer from paypal to a Canadian bank acct?

Paypal is international. I don't see why you wouldn't be able to. You can upload money from a credit card to it as well.

Post: #6

I have transferred money to someone in Canada from US using PayPal. No problems. They receive it in their paypal account, then they transfer it to their personal Canadian account.

Post: #7

(08-04-2012 08:33 AM)Menace Wrote:  I have transferred money to someone in Canada from US using PayPal. No problems. They receive it in their paypal account, then they transfer it to their personal Canadian account.

Paypal will charge you a percentage. And to be honest I don't really trust paypal.

As far as I know, RBC Bank has branches in the USA and in Canada. If you're in USA and have an RBC account, you can walk into your branch and tell them you want to open an account in Canada. I am a Canadian, and when I needed to open an account in a USA bank I did it through my local RBC Branch in Toronto without ever having to go to the USA.

Once the USA account was set up, I could transfer money back and forth EASY!! You can open an RBC American dollars account in Canada and transfer money from both accounts back and forth without losing a penny because of the exchange rate. I transferred money from the USA bank account into the Canadian (U.S. dollar) bank account, and then transferred from my Canadian U.S. dollar bank account to the Canadian regular account. The exchange rate gave me like $200 Canadians extra. But that was a while back.

I hope this helps you man. And good luck.

Post: #8

Pretty much what 23Billion said. Don't attempt to perform this kind of transaction through Paypal, especially if you're dealing with a large sum. Not only because you'll likely have fees to pay, but they are notoriously unreliable, and if they decide to freeze your account for whatever reason, you may have to kiss your money goodbye. The horror stories are out there.

I have both USD & CAD accounts at my bank (BMO). I can transfer money from one account to the other very easily in real time with no fee to pay, only the exchange rate. It's a nice little option to have when one currency is doing better than the other.

Check your bank's website, I'm sure they have all the info.

Post: #9

Yeah man I personally know a person who lost over 6 Grand to paypal. He did two transactions when he received money, and once the money was in his account paypal froze it right away. I have U.S. roaming on my plan so he used my phone to call them and was on hold for like 30 to 40 minutes at a time. He never saw his money!! Just remember that paypal is NOT a bank!

I have also read/heard from people that once you link your bank account with paypal, the 'user agreement' allows them to withdraw money from your account!!! And that the only way is to close your bank account and open another one. There are legit stories out there about this.

(09-01-2012 01:03 PM)captaingeneric Wrote:  Pretty much what 23Billion said. Don't attempt to perform this kind of transaction through Paypal, especially if you're dealing with a large sum. Not only because you'll likely have fees to pay, but they are notoriously unreliable, and if they decide to freeze your account for whatever reason, you may have to kiss your money goodbye. The horror stories are out there.

I have both USD & CAD accounts at my bank (BMO). I can transfer money from one account to the other very easily in real time with no fee to pay, only the exchange rate. It's a nice little option to have when one currency is doing better than the other.

Check your bank's website, I'm sure they have all the info.

Post: #10

Moma, you should be able to open an American account with a Canadian bank down there, which could make the process easier. I know that the last time I was in south Florida (Fort Lauderdale, last April), I saw quite a few Toronto Dominion (TD) banks down there.