Depositing into Canadian bank account

[ErikaB 0]

I'm pretty ignorant about the US banking system. Does anyone know how difficult it is to deposit money into a Canadian bank account (specifically, Royal Bank) from their spouse's bank (specifically, US Bank)? I assume it's possible. What information is needed other than the account number?

Thank you.

[Emancipation 2]

My US bank won't talk nicely to the CDN banks

BUT I know there are some who will do international wire transfers (which is what you are looking for)..

But most of us around here us Custom House www.customhouse.com to transfer monies between CDN & US accounts..

There is some set up required but when you use the EFT (electronic funds transfers) it is FREE

[Jashley820 0]

My US bank won't talk nicely to the CDN banks

BUT I know there are some who will do international wire transfers (which is what you are looking for)..

But most of us around here us Custom House www.customhouse.com to transfer monies between CDN & US accounts..

There is some set up required but when you use the EFT (electronic funds transfers) it is FREE

Good topic...I need to start making payments to my Line of Credit in Canada and I'm not sure how to do it. All I know is that I hope the exchange rate works in my favour so I can pay it off faster

[ErikaB 0]

Yeah, that's the same reason I need to do it too. Ugh. Though the exchange rate barely makes a dent anymore.

I'll look into your suggestion, Emancipation. Thanks. (Though any other options are always good )

[payxibka 10,045]

Can you set it up so they will post payments against your US Bank Debit/Check Card? That by far would be the cheapest and you typically get a good exchange rate on top of it as well....

[misa 2]

I also vote for Custom House. After it's all set up, it's virtually painless. Takes about 3 business days for the transfer to go through but there are no additional fees and the exchange rate is always the current exchange rate. You can even check and refresh the exchange rate before you initiate the "transfer" (technically it's buying and selling currency through EFT).

[ErikaB 0]

Can you set it up so they will post payments against your US Bank Debit/Check Card? That by far would be the cheapest and you typically get a good exchange rate on top of it as well....

Pretty sure that's not possible, that it only works through my bank account. With that said, I don't want to do that anyway. I'm currently only paying the interest on this line of credit (it's a student line of credit), but I'll have to start paying down principle within a couple of months. And money is far too tight to be putting those kinds of automatic withdrawals on my husband's only bank account. The joys of not being allowed to work. Ah well.

Edited September 13, 2007 by ErikaB

[Kathryn41 3,205]

I think Custom House appears to be the most effective way to go. For me, I worked out an arrangement before hand with a representative of my TD bank and I just mailed her cheques directly to her attention which she then deposited into my account on my behalf. There weren't a lot so the arrangement worked really well for me.

[Keisha 0]

I'm pretty ignorant about the US banking system. Does anyone know how difficult it is to deposit money into a Canadian bank account (specifically, Royal Bank) from their spouse's bank (specifically, US Bank)? I assume it's possible. What information is needed other than the account number?

Thank you.

I had the same question as you, and I also have an account with the RBC, so that's what I know.

You can wire money from a US bank account to RB, for me it would cost $40.

Or your husband can buy a money order from his bank, it cost us $2, to the order of you put your name, and mail it to RB asking them to deposit it on your account, and tell them the # of your account. That's what I did, and RB said that they would have to clear it first, and it might take 2 weeks.

If it is more than $1000, than your husband can buy a Bank Draft, and you mail it to RB. Good luck!

[Krikit 1,164]

I had the same question as you, and I also have an account with the RBC, so that's what I know.

You can wire money from a US bank account to RB, for me it would cost $40.

Or your husband can buy a money order from his bank, it cost us $2, to the order of you put your name, and mail it to RB asking them to deposit it on your account, and tell them the # of your account. That's what I did, and RB said that they would have to clear it first, and it might take 2 weeks.

If it is more than $1000, than your husband can buy a Bank Draft, and you mail it to RB. Good luck!

Gosh. I don't want to sound rude or anything but why would anyone go through all that when they can just do electronic transfers through Custom House for free?

[Flames9_RN 358]

CustomHouse works great!! It it "BI" it goes both ways,lol

http://customhouse.com/ the actual login page appears as: https://vantage.customhouse.com/cgi-bin/Login.cgi

[CutienPurg 0]

i couldnt figure customhouse out......i swear i must be an idiot

[Krikit 1,164]

i couldnt figure customhouse out......i swear i must be an idiot

Just talk to one of their reps. They'll walk you through it. They really are nice, professional, and very helpful.

[Flames9_RN 358]

Its very easy to do once u get the hang of it, and their reps are awesome.

[L_n_O 3]

question: my fiancee and I have used paypal in the past to send money between our accounts..

is custom house *better*? or should I just keep using paypal?

Edited September 14, 2007 by liz_legend 'n Ol