5 replies to this topic

[Sharoon]

Does anyone know any bank that offers online or a way to transfer funds from California bank to a Canadian Bank? If we mail a cheque from California to Canada there is a 21 day hold because it's out of country. This is something we'd like to set up and do regularly for bill payments in Canada even though we're living in California. I should also indicate that we are working through Visa's in USA and could be here for sometime. We'll need to transfer funds monthly.

Any ideas, tips, etc. would be appreciated.

[markber]

Hi Sharoon,

Do you have a Canadian Bank account? Who is your Canadian payee (in general: Canadian credit card, Canadian bank, etc)?

Thanks,

Mark

Does anyone know any bank that offers online or a way to transfer funds from California bank to a Canadian Bank? If we mail a cheque from California to Canada there is a 21 day hold because it's out of country. This is something we'd like to set up and do regularly for bill payments in Canada even though we're living in California.

Any ideas, tips, etc. would be appreciated.

[Sharoon]

Hi Mark thanks for your quick reply.

We are living and working in California. We have a couple of Canadian banking institutions we use. The one that seems to be able to give us mostly what we need, but not totally is at TD Canada Trust. There we have a US Advantage Visa Card, Canadian fund bank account as well as a US Fund bank account.

We're looking for a way that we would transfer US funds to this TD Canada US fund account.

We'd been willing to open/change banks either in USA or Canada to make this possible.

Someone suggested wire transfers, but I'm not sure how much this would cost.

Also, it would be nice to be able to transfer the funds and not lose too much on a transfer cost.

Thanks so much for any help you can offer.


Sharoon

Hi Sharoon,

Do you have a Canadian Bank account? Who is your Canadian payee (in general: Canadian credit card, Canadian bank, etc)?

Thanks,

Mark

[markber]

Sharoon,

If you have a Canadian bank account or/and can be approved for both US and Canadian bank accounts, then it is possible

1) You can use XETRADE to move money from your existing US account to your Canadian bank account and back.

2) If you do not have a RBC account, you can open RBC account in Canada and RBC Centura bank in US. Online transfers between these two banks are free.

3) You can use PayPal for US Bank <->PayPal<->Canada Bank. Although, if you are going to transfer really large amounts, the rumors are that PayPal may not like this.

4) Check if TD Banknorth ( http://www.tdbanknorth.com/ ) offer transfer to/from TD Canada Trust

5) BCPbank has both Canadian and US branches. You may want to check if they offer transfers between their Canadian and US accounts.

6) HSBC bank offers transfers among HSBC accounts in different countries (including US and Canada). But my impression was that they are kind of expensive (~$30 per transfer?)

7) Citibank offers global transfers between Citibank accounts in different countries but they are not free (used to be ~$10 or so per transfer).


Hopefully, one these ways will work for you.

Mark

Hi Mark thanks for your quick reply.

We are living and working in California. We have a couple of Canadian banking institutions we use. The one that seems to be able to give us mostly what we need, but not totally is at TD Canada Trust. There we have a US Advantage Visa Card, Canadian fund bank account as well as a US Fund bank account.

We're looking for a way that we would transfer US funds to this TD Canada US fund account.

We'd been willing to open/change banks either in USA or Canada to make this possible.

Someone suggested wire transfers, but I'm not sure how much this would cost.

Also, it would be nice to be able to transfer the funds and not lose too much on a transfer cost.

Thanks so much for any help you can offer.


Sharoon

Hi Sharoon,

Do you have a Canadian Bank account? Who is your Canadian payee (in general: Canadian credit card, Canadian bank, etc)?

Thanks,

Mark

[Sharoon]

Thanks Mark, we'll look into your suggestions. I appreciate your time.

We did check into the RBC, but the closest one to me is in Texas, I'm in CA.

There's a couple of options you've offered I hadn't heard of, so perhaps with any luck one of these might work.

Thanks again.

I'll let you know if we find the solution.

Sharoon

[markber]

Hi Sharoon,


You can open a Centura account by mail, you do not have to have a Centura bank branch in your city. If you need to move money to Centura bank, you can use free ACH transfers from an online bank like Farm Bureau Bank. Or I heard (but have not verified yet) that Citibank offers free outgoing (as well as incoming) ACH transfers these days. You can also use bill payment of your current bank to make bill payments to your Centura Bank account. However, if you do not want to deal with a web of banks and bank transfers, XETRADE (Canada based company) is probably a better solution for you.

Cheers,

Mark

Thanks Mark, we'll look into your suggestions. I appreciate your time.

We did check into the RBC, but the closest one to me is in Texas, I'm in CA.

There's a couple of options you've offered I hadn't heard of, so perhaps with any luck one of these might work.

Thanks again.

I'll let you know if we find the solution.

Sharoon