$3,000 USD from a US bank account to a Canadian bank account
July 30, 2019 6:29 AM   Subscribe

Other than PayPal and Venmo, how can somebody in the States get $3,000 USD to my personal Canadian bank account? They refuse to use Venmo or PayPal. Distance prohibits a cash transaction.
posted by anonymous to Work & Money (13 answers total) 2 users marked this as a favorite
 
International wire transfer.
posted by chesty_a_arthur at 6:30 AM on July 30, 2019 [9 favorites]


Yeah, wire transfer. It'll cost a few bucks on both ends -- about 5 years ago, Scotiabank charged me about $10 to receive international wire transfers, as an example of the scale of the fee you should expect.
posted by jacquilynne at 6:31 AM on July 30, 2019 [2 favorites]


These should hopefully clear the same day, will have some fees attached, but are done between the banks in question using very established methods, rather than a third-party fintech. It's not sexy but it is the best way. You maybe could do it on the bank website but can definitely call them.
posted by chesty_a_arthur at 6:32 AM on July 30, 2019 [3 favorites]


Apple Pay?
posted by terrapin at 6:36 AM on July 30, 2019


I had a good experience with TransferWise . It's also the NerdWallet recommended service. NerdWallet's overview of international transfer options is here.
posted by Mr.Know-it-some at 6:37 AM on July 30, 2019 [8 favorites]


Also good experience of TransferWise.
posted by einekleine at 6:48 AM on July 30, 2019 [1 favorite]


TransferWise.
posted by JoeZydeco at 6:52 AM on July 30, 2019 [1 favorite]


Transferwise.
posted by nerdfish at 7:08 AM on July 30, 2019 [1 favorite]


I had a wire transfer disappear into limbo for about eight weeks once because the US bank did not know how to deal with a Canadian bank. This was in the eighties. I do not have any information to know if they are better now or not.

Consider having a personal cheque or a postal money order or a bank money order over-nighted. It could actually turn out to be faster, even allowing for waiting for the cheque to clear their bank if you get sent a cheque. No Canadian bank every seems to have a problem understanding that a US money order of any sort is in US funds and should be converted into Canadian. The person sending the money will have to get the right postage for sending a letter to Canada, of course, but that should be as simple as asking at the post office counter. Your sender could stop at the post office for the money order and the postage/overnight fees and do it with only a single errand.
posted by Jane the Brown at 8:15 AM on July 30, 2019


Nthing Transferwise
posted by atlantica at 8:37 AM on July 30, 2019


Cheques work if the sender is tech-averse, but every Canadian bank I've worked with will sit on the funds for 30 days.
posted by scruss at 8:54 AM on July 30, 2019 [1 favorite]


western union?
posted by patnok at 10:02 AM on July 30, 2019


The simplest option would be the international wire transfer as people mentioned.

If you're with Royal Bank, you can open up a US bank account through their American branch. Then it's simple to transfer money between the US bank & your Canadian accounts. I do this all the time.
posted by Mobilisinmobili at 9:47 AM on July 31, 2019 [1 favorite]


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