Author Topic: Canada to US USD transfer? (Read 7115 times)

Thingywingy · « **on:** December 05, 2018, 02:01:01 PM »

Anyone know of a way to send $ from a Canadian USD account to a US based account? Does PayPal Canada allow you to connect a USD account? I want to avoid any foreign conversion fees.

Ergel · « **Reply #1 on:** December 05, 2018, 02:11:44 PM »

Quote from: Thingywingy on December 05, 2018, 02:01:01 PM

Anyone know of a way to send $ from a Canadian USD account to a US based account? Does PayPal Canada allow you to connect a USD account? I want to avoid any foreign conversion fees.

Why can't you send a wire?

Thingywingy · « **Reply #2 on:** December 05, 2018, 02:15:03 PM »

Quote from: Ergel on December 05, 2018, 02:11:44 PM

Why can't you send a wire?

i don’t want to pay a wire fee.

It seems that even with a USD account, PayPal insists on converting the money to Canadian $ and charging their very high conversion rate. Googling around I see that some have been able to avoid the fee by listing their Canadian bank as a US bank and adding their “US” routing number. Anyone have experience with this?

It’s explained here. I’m trying to figure out how to find the routing number for TD Bank of Canada. It’s confusing because I believe they operate as a different entity then TD Bank in the US (which is a subsidiary.)

Alexsei · « **Reply #3 on:** December 05, 2018, 02:35:48 PM »

Transfer Wise

(if you wish PM me for a referral)

BTW where are you banking?

Yehudaa · « **Reply #4 on:** December 05, 2018, 02:39:41 PM »

Quote from: Thingywingy on December 05, 2018, 02:01:01 PM

Anyone know of a way to send $ from a Canadian USD account to a US based account? Does PayPal Canada allow you to connect a USD account? I want to avoid any foreign conversion fees.

TD Canada Trust USD accounts can send free wire transfers to TD Bank US accounts if you link them. (I don't know how to link them, as I opened my TD USA account with ID verification from TD Canada Trust, so I think they just linked it then, but I imagine you can call and link a pre-existing TD US account)

They actually charge a wire transfer fee and then refund it a day or two later.

Yehudaa · « **Reply #5 on:** December 05, 2018, 02:47:15 PM »

Quote from: Alexsei on December 05, 2018, 02:35:48 PM

Transfer Wise

(if you wish PM me for a referral)

BTW where are you banking?

I use Transferwise for CAD-USD, I didn't know you could use it for USD-USD.

Btw, for CAD-USD I just got a Stack Mastercard. It's a no-fee prepaid credit card that you load with CAD and then there are no FX fees or cash advance fees so it comes out to basically the mid market rate. Only useful if you have access to a USD ATM (i.e. not so useful if you live in Canada). It's only a soft pull on your Canadian credit file. (PM me for a Stack referral if needed.)

And they refund your Amazon Prime (Canada) membership for the first year

.

Thingywingy · « **Reply #6 on:** December 05, 2018, 02:49:21 PM »

Quote from: Yehudaa on December 05, 2018, 02:39:41 PM

TD Canada Trust USD accounts can send free wire transfers to TD Bank US accounts if you link them. (I don't know how to link them, as I opened my TD USA account with ID verification from TD Canada Trust, so I think they just linked it then, but I imagine you can call and link a pre-existing TD US account)

They actually charge a wire transfer fee and then refund it a day or two later.

Do the two accounts have to be under same name? In my case it’s a family member.

Thingywingy · « **Reply #7 on:** December 05, 2018, 02:52:57 PM »

Quote from: Alexsei on December 05, 2018, 02:35:48 PM

Transfer Wise

(if you wish PM me for a referral)

BTW where are you banking?

Can you send from Canadian USD account? What are the fees? Website shows calculator that only show rates when converting.

Alexsei · « **Reply #8 on:** December 05, 2018, 02:56:06 PM »

With TD you can send visa direct up to $1000

Alexsei · « **Reply #9 on:** December 05, 2018, 02:56:42 PM »

Quote from: Thingywingy on December 05, 2018, 02:52:57 PM

Can you send from Canadian USD account? What are the fees? Website shows calculator that only show rates when converting.

You are probably right, i was lazy reading your needs...

Yehudaa · « **Reply #10 on:** December 05, 2018, 02:58:49 PM »

Quote from: Thingywingy on December 05, 2018, 02:49:21 PM

Do the two accounts have to be under same name? In my case it’s a family member.

I assume they do have to match. But if all else fails, you can just write yourself a check from the TD Canada USD account and deposit it in your TD US account, no?

Thingywingy · « **Reply #11 on:** December 05, 2018, 03:30:56 PM »

Quote from: Yehudaa on December 05, 2018, 02:58:49 PM

I assume they do have to match. But if all else fails, you can just write yourself a check from the TD Canada USD account and deposit it in your TD US account, no?

Can you make that deposit in a Canadian branch? The checkbook is in Canada.

Yehudaa · « **Reply #12 on:** December 05, 2018, 03:43:47 PM »

Quote from: Thingywingy on December 05, 2018, 03:30:56 PM

Can you make that deposit in a Canadian branch? The checkbook is in Canada.

No, as far as I know. But if you feel comfortable maybe you can give your TD US login info to whichever relative in Canada has the checkbook and they can write the check and mobile deposit it into your account.

I'm not sure this would work, as I know TD Canada won't take a mobile deposit on any cheque that draws on a bank outside of Canada (in-branch deposit only), but maybe the reverse does work. It might be worth a try.

Yehudaa · « **Reply #13 on:** December 05, 2018, 03:47:17 PM »

Quote from: Thingywingy on December 05, 2018, 03:30:56 PM

Can you make that deposit in a Canadian branch? The checkbook is in Canada.

Confirmed that you can't:

https://www.tdbank.com/tdhelps/default.aspx/can-i-use-a-canadian-td-bank-to-deposit-funds-into-my-american-td-bank-account/v/38185985/

Thingywingy · « **Reply #14 on:** December 05, 2018, 04:43:19 PM »

Quote from: Yehudaa on December 05, 2018, 03:47:17 PM

Confirmed that you can't:

https://www.tdbank.com/tdhelps/default.aspx/can-i-use-a-canadian-td-bank-to-deposit-funds-into-my-american-td-bank-account/v/38185985/

Thanks.

Quote from: Yehudaa on December 05, 2018, 03:43:47 PM

No, as far as I know. But if you feel comfortable maybe you can give your TD US login info to whichever relative in Canada has the checkbook and they can write the check and mobile deposit it into your account.

I'm not sure this would work, as I know TD Canada won't take a mobile deposit on any cheque that draws on a bank outside of Canada (in-branch deposit only), but maybe the reverse does work. It might be worth a try.

As of now I don't bank with TD in the US; I bank with Chase. Anyone know if Chase mobile will accept a Canadian USD check? (I know that Chase mobile doesn't accept a TD Bank money order/cashiers check).

Quote from: Thingywingy on December 05, 2018, 02:15:03 PM

It’s explained here. I’m trying to figure out how to find the routing number for TD Bank of Canada. It’s confusing because I believe they operate as a different entity then TD Bank in the US (which is a subsidiary.)

Anyone know TD Bank Canada US routing number? or how I can find it?

Thingywingy · « **Reply #15 on:** December 05, 2018, 05:27:37 PM »

There has been discussion in the past about transferring from a CAD account to a US based bank using xe.com. I have used them a few times years ago (last time a had a Canadian CC:) Anyone know if you can setup a Canadian based USD account with them?

m.m. · « **Reply #16 on:** December 07, 2018, 01:22:03 AM »

It was a while since I last needed to do it, but regarding the td canada to td america, is free, just dont expect the best rate, and the larger the transfer, the better the rate.
Don't have the link, but can be done online, but over the phone can be done in greater amounts.
I remember getting a booklet in td canada branch with the link to it, and te phone number for it.

Yehudaa · « **Reply #17 on:** December 07, 2018, 07:48:37 AM »

Quote from: m.m. on December 07, 2018, 01:22:03 AM

It was a while since I last needed to do it, but regarding the td canada to td america, is free, just dont expect the best rate, and the larger the transfer, the better the rate.
Don't have the link, but can be done online, but over the phone can be done in greater amounts.
I remember getting a booklet in td canada branch with the link to it, and te phone number for it.

You're right that it's not a great rate for CAD-USD. I was talking about transferring from a TD Canada USD account to a TD USA account (I believe that's what OP was asking about), so there's no exchange rate involved. But if transferring from CAD, you're right, I wouldn't use TD. I'd do it with Transferwise or a Stack Mastercard (if I have access to a USD ATM).

Thingywingy · « **Reply #18 on:** December 07, 2018, 08:07:59 AM »

Quote from: Yehudaa on December 07, 2018, 07:48:37 AM

You're right that it's not a great rate for CAD-USD. I was talking about transferring from a TD Canada USD account to a TD USA account (I believe that's what OP was asking about)...

Exactly!

4yourinfo · « **Reply #19 on:** August 07, 2019, 12:44:33 PM »

Can someone tell me what would be my best option to empty my cad in Scotiabank and transfer it to usd I'm in the USA - The 2 options I'm seeing is transferwise or stack MasterCard which one would be better? Anything else out there? Thanks