Setting up US cross border acct

[martik777]

When setting up my bank acct, my RBC US bank is not shown, only the CAD RBC bank is available. Is there any way to have my funds deposited to my US bank acct?  Or are all USD converted to CAD now with the new system and at what exchange rate?

Thanks

[reallynicestamps]

The RBCBank  and TDNorth, both American banks which are widely used by Canadian snowbirds and businesses, cannot be attached to the newly introduced Managed Payments.

Is there any way to have my funds deposited to my US bank acct?

No.

There have been some optimistic remarks and fewer promises, but so far nothing concrete.

and at what exchange rate?

Exchange rates vary daily, even hourly.

The MP rates seem to be reasonably similar to what we got from Paypal when we did not have an American bank to deposit our USD in.

And PP's rates are reasonably similar to credit card rates.

[martik777]

Thanks, Is it possible to deposit to a CAD bank with a US$ acct? I use my USD funds now for USD purchases. If they deposit in CAD I'll have to convert back to USD which will cost me in exchg fees TWICE!

[kawartha-ephemera]

@martik777 

@reallynicestamps 

It may be wothwhile to review recent MP messages. I received one from them today that provided a link for those wishing to receive their disbursements in USD. Don't know what sort of rabbit hole awaits those brave enough to follow the link.

Screenshot below with the bit about receiving funds in USD circled in red.

[marnotom!]

Spitballin’ as usual, but my guess is that the registration process is more or less the same on the other end of that link but with some information on US dollar accounts on Canadian soil, something that many Canadian sellers probably won’t have at this stage of the game.

My Canadian-based US dollar account has been gathering dust since eBay limited the use of paper payments.

[kawartha-ephemera]

Another spitballin' comment, I don't see how sellers can register for MP USD accounts that they know absolutely nothing about and as of right now do not exist. I am thinking perhaps they want accounts that desire funds disbursed in USD to commit to that now, thereby extending Paypal payments until their MP solution arrives. Who knows ???