Depositing into Canadian bank account

[Krikit 1,165]

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?

Is there a fee associated with paypal?

[L_n_O 3]

ya..

I just remembered that part

it's a percentage.. =(

------------------------------------------

What am I supposed to put for:

Credit References

Company name: *

Contact name: *

Phone:

are they looking for where I work??? (cuz I'd rather not have them call my work!!) or a credit card reference???

Edited September 14, 2007 by liz_legend 'n Ol

[Krikit 1,165]

What am I supposed to put for:

Credit References

Company name: *

Contact name: *

Phone:

where I work??? (cuz I'd rather not have them call my work!!)

or a credit card reference???

Hmmm. I don't remember having to answer all that. And I certainly wasn't working at the time. LOL. Lemme look up my original application and I'll get back to you.

[misa 2]

Liz, are you talking about custom house?

I remember just putting down:

Credit References

Company name: Bank Name

Contact name: Branch Manager

Phone: Branch phone number

[Krikit 1,165]

Hmmm. I can't find anything in the application that requests that information, so I'm not sure what you're looking at. Did you contact a rep directly? I received all the forms and documentation via email after speaking on the phone with them.

[L_n_O 3]

ok.. did that

now I wait for an email I guess...

[Krikit 1,165]

ok.. did that

now I wait for an email I guess...

[misa 2]

ok.. did that

now I wait for an email I guess...

You should get an email soon. And you have to fax stuff to them too. Then they'll email you with a time of when they'll call you and ask you specific questions (they'll tell you by email what you'll need to confirm on the phone). I think that's the sequence.

Anyway, they're very nice and helpful on the phone.

[L_n_O 3]

#######, there's faxing stuff involved?? sigh..

more paperwork!! don't they know we're doing a visa!!

[Krikit 1,165]

#######, there's faxing stuff involved?? sigh..

more paperwork!! don't they know we're doing a visa!!

Fun Fun Fun!

You have to scan and send them two pieces of ID, a signed profile, and a signed and initialed copy of their terms and conditions. Very minor compared to the visa process. Besides.... you've had lots of practice now. And they make it pretty painless. It's really not that bad.

[dearheart 0]

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?

I have been testing things out with paypal. I currently have a US account and a PC Financial. It takes a fair bit of time and I think my fee was .50 That was on $100. I just transfered a larger amount so we will see what kind of fee is associated with that. If you have the time, paypal maybe the way to go. But from what I hear about Custom house it sounds better. Since you bank with RBC the other option may be to open a Centura account in the States and link it with your RBC. Then you can transfer money for free also. That is what we are in the midst of doing. Although, Centura is taking a long time to process this. It's been two weeks now and I am still waiting to hear something. ugh.

[trailmix 77]

I'm sure you guys have covered this question before, but is the exchange rate generally better than the banks? (for custom house that is)

[misa 2]

I'm sure you guys have covered this question before, but is the exchange rate generally better than the banks? (for custom house that is)

Not sure what the bank charges for buying and selling currency but Custom House uses the exact exchange rate at that second and no fees for transfers (i.e., buying and selling currency).

Edited September 14, 2007 by misa

[Flames9_RN 358]

When I first started out, the first few time I compared the bank rate(wachovia), and CustomHouse was better.

[Krikit 1,165]

The exchange rate at Custom House is absolutely hands down better than the banks. Not only do the banks give you a lower rate of exchange, they also charge you a hefty service fee to do it. They were the ones who actually told me I'd be better off doing it this way.