A question for Canadians. Besides Paypal, what are you favorite apps / online banking systems for receiving funds from the US (or the rest of the world) and why? 1 1

[VintageComics]

Any input is appreciated.

[VintageComics]

Nobody?

Canada, where are you??

[THE_BEYONDER]

[MetalPSI]

Having just made a purchase over paypal the other day for the first time in YEARS, I too would love to know an alternative.

A $155 USD transaction came to $222 CDN.

My butt hurts

[Artboy99]

conversion currently adds about 34%.

RBC has the ability to open a bank account that is in the USA that would allow for usa transactions. Can link it electronically to your canadian rbc acct.

For international I dont know of anything else.

I am using Paypal

[MetalPSI]

9 minutes ago, Artboy99 said:

conversion currently adds about 34%.

RBC has the ability to open a bank account that is in the USA that would allow for usa transactions. Can link it electronically to your canadian rbc acct.

For international I dont know of anything else.

I am using Paypal

Are there extra fees for using it as a regular chequing account for US purchases? Or just the exchange rate?

[Artboy99]

34 minutes ago, IkewithMike said:

Are there extra fees for using it as a regular chequing account for US purchases? Or just the exchange rate?

it isnt free, costs $3.95 us per month.

The account is in the USA so holds us dollars. You only exchange if you are converting it to Canadian when you transfer funds to Canadian accounts.

You can also access it with an atm card if you are ever in the USA 

https://www.rbcbank.com/index.html

Does paypal cost you $3.95 per month usd?

Depends on usage.

Edited February 22, 2020 by Artboy99

[VintageComics]

44 minutes ago, Artboy99 said:

RBC has the ability to open a bank account that is in the USA that would allow for usa transactions. Can link it electronically to your canadian rbc acct.

If you're talking about the RBC USA personal account, they will crack down on you if you are using it for large transaction which they consider business transactions. It's only meant for personal banking.

They expect you to open a proper business account for stuff like buying and selling stuff, even if you are not a registered business.

[VintageComics]

I heard @chromium (who is in Belgium) talk about Revolut but have not heard of anyone else mention it from Canada.

Venmo?

Google Pay?

Do these work in Canada?

Any others?

[Artboy99]

3 minutes ago, VintageComics said:

If you're talking about the RBC USA personal account, they will crack down on you if you are using it for large transaction which they consider business transactions. It's only meant for personal banking.

They expect you to open a proper business account for stuff like buying and selling stuff, even if you are not a registered business.

no the USA personal is still based in Canada. This is a us based account.

[VintageComics]

13 minutes ago, Artboy99 said:

This is a us based account.

We are both talking about the US based account. It's based in Georgia (or North Carolina - I can't remember which as it used to be both).

I've held this account for probably 15 years but when the US started tightening anti money laundering laws a few years ago they sent out a notice and forced all people doing 'business' to cease doing so and move to a proper business account or expect their accounts to be shut down without notice. If you didn't receive the notice, it was only because you weren't moving enough funds to move the radar for them.

But it is just a personal account.

When I looked into business accounts, they wanted (at the time - I believe it has changed since) to have $100K in the account at all times. Ridiculous.

[Artboy99]

1 hour ago, VintageComics said:

We are both talking about the US based account. It's based in Georgia (or North Carolina - I can't remember which as it used to be both).

I've held this account for probably 15 years but when the US started tightening anti money laundering laws a few years ago they sent out a notice and forced all people doing 'business' to cease doing so and move to a proper business account or expect their accounts to be shut down without notice. If you didn't receive the notice, it was only because you weren't moving enough funds to move the radar for them.

But it is just a personal account.

When I looked into business accounts, they wanted (at the time - I believe it has changed since) to have $100K in the account at all times. Ridiculous.

ok, good info. So paypal is still the way to go.

[ivegotneatstuff]

 

Sorry I couldn't resist

Edited February 23, 2020 by ivegotneatstuff

[PunisherPunisherPunisher]

PayPal is easy to use but gees they hammer you with exchange rate prices if buying from overseas

[VintageComics]

On 2/23/2020 at 12:06 PM, PunisherPunisherPunisher said:

PayPal is easy to use but gees they hammer you with exchange rate prices if buying from overseas

Yes.

[Krismusic]

yeah I stuck and still using paypal for my US transactions.. if there is something better for Canada would love to know about it.

[theCapraAegagrus]

Move to America.

[comicginger1789]

If buying in volume, I can see how Paypal would get annoying and costly. I don't buy enough to where it affects me and I also don't have any other means to acquire comics other than ebay anyways due to being 8+ hours from any major metropolises. So if I have to pay a tad extra here and there, I am okay provided I still get my comic fix.