PayPal --- add a USD bank account possible??
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10-26-2004 02:14 PM
There's got to be a way around this. My question, then, is what are my possible options of depositing my US balance from PayPal into a USD account? I thought I heard someone say something about transferring it through some middle-man company... but I don't recall all the details.
What do all you other sellers do? Do you deposit Canadian Dollars into your accounts, and take the currency exchange hit too?
Re: PayPal --- add a USD bank account possible??
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11-23-2004 06:35 PM
Re: PayPal --- add a USD bank account possible??
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11-25-2004 01:45 PM
Andrew
Re: PayPal --- add a USD bank account possible??
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11-25-2004 07:08 PM
Re: PayPal --- add a USD bank account possible??
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11-25-2004 07:20 PM
You'll probably receive another mail from them in a few days with more information. From my experience, banks send PINs in separate mails and with no other information for security reasons.
Ernie.
Re: PayPal --- add a USD bank account possible??
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11-26-2004 12:38 AM
Re: PayPal --- add a USD bank account possible??
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11-26-2004 07:32 PM
Re: PayPal --- add a USD bank account possible??
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11-27-2004 02:01 AM
It's weird I received the PIN first. Usually the PIN would be mailed much later than other things. Maybe this is the American style.
I'll update when something happens---good or bad.
Andrew
Re: PayPal --- add a USD bank account possible??
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11-27-2004 10:21 AM
By the way, as mentioned I signed up for the cheapest account which is free with $700 US min. balance in your account at all times. That's around $800 CDN with today's exchange rates. Otherwise, it's $3.95 US service charge. Cheques and tell transactions are free, and I was asked whether I would like cheques right away.
The last and only other bank I looked at was HSBC which does have banking worldwide but seemed not as popular as the RBC Centura I guess. Now that I think about it, I should have looked at it more, esp if it has completely free banking with no minimum balance. On the website it shows you get a free gift when you open a chequing account also. All the other banks like ScotiaBank, TD, Bank of Montreal, etc. are out of luck for US banking.
Update: Well, went on the HSBC website and gave them a call. Apparantly there are no fees and no min. balance for their US banking account. I should have went for that instead 😞 They said the only options of opening a US account from Canada is to visit the branch at Niagara Fall, New York (fastest) or by mail. So I opted for them to send me the sign up package. They say it will take 10-14 days to process your documentation. Likely same time as RBC Centura. The only downside some people may not like is that all deposits must be mailed in since no CDN branch can process them as the systems are different. I actually prefer it this way since the branches always close too early for me anyway. Here is the link to the account (no online sign up for us) :
http://us.hsbc.com/personal/checking/freechecking.html?code=web1
So now I've called RBC and left the guy a message to cancel my RBC Centura account, less than 24 hours after signing up. What a hassle. I think I'm out of luck for my CDN account at RBC since I'm guessing they already did a credit check if the account is already open and on the system. So make sure you know clearly which account you're applying for and if any fees or min. balance is involved, and don't make the same mistake as me.
Re: PayPal --- add a USD bank account possible??
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11-29-2004 03:20 PM
Andrew
Re: PayPal --- add a USD bank account possible??
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11-29-2004 05:06 PM
Re: PayPal --- add a USD bank account possible??
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11-30-2004 10:46 AM
Because according to here ... https://www1.tdwaterhouse.com/oao-web/tradingPlatformSelect.jsp
It says this right at the bottom :
"Customers residing outside the U.S. should contact a TD Waterhouse representative at 212-344-2525."
And the online form was made for US addresses only. Maybe you were lucky and got it just before they shut us out.
Re: PayPal --- add a USD bank account possible??
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12-02-2004 04:02 PM
They said it's activated and they setup online banking for me over the phone. It's done. Totally 20 days.
Andrew
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12-02-2004 04:20 PM
Andrew
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12-04-2004 03:27 AM
Re: PayPal --- add a USD bank account possible??
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12-04-2004 10:51 AM
Malcolm
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12-04-2004 12:47 PM
Re: PayPal --- add a USD bank account possible??
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12-04-2004 02:15 PM
So do alot of Canadian Banks however how they practise in each country depends on the banking rules of that country and even though you may find branches with the name of the bank on the building, in many countries the foreign banks cannot own a majority of stock in the bank.
In Canada there are different Charters for Banks and the Charters set out the rules that they are permitted to do business. Charters set out who can operate retail branches and handle cash transactions amongst individuals, or which banks can negotiate and facilitate structured financial deals amongst corporations etc.
I'm not going to go into detail here nor should you try to learn all about it unless you want to take a course in International Banking and you find it that facinating.
Malcolm
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12-10-2004 01:05 PM
I had to call Centura and ask them for my information to get it. It's not a very good process to get started, but once you get it all setup, you can do Online banking with Centura and all that so it does indeed get better.
Plus, you no doubt have an RBC Canadian account as well...you can add Centura as a tab in your Canadian Online Banking so you can manage both accounts from one portal...and transfer funds instantly between Centura and your Canadian based US$ account.
Re: PayPal --- add a USD bank account possible??
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12-13-2004 01:50 PM
Now I need to route my Paypal money to my us bank and then transfer that to my Canadian US acct
what a pain!
Re: PayPal --- add a USD bank account possible??
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12-13-2004 02:44 PM
