Comments on: Transferring US Dollar Funds out of PayPal http://www.canadiancapitalist.com/transferring-us-dollar-funds-out-of-paypal/ Helping you invest and prosper Sat, 20 Mar 2010 11:57:22 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Xe http://www.canadiancapitalist.com/transferring-us-dollar-funds-out-of-paypal/#comment-213326 Xe Wed, 17 Mar 2010 23:28:42 +0000 http://www.canadiancapitalist.com/2007/08/22/transferring-us-dollar-funds-out-of-paypal#comment-213326 Frogblender said: use XE.com – these guys are great. Use xe to withdraw from RBC USD, and deposit to RBC CAD: I tried this with $10 USD, it took 4 business days: 0.85% (might get even better with amounts much larger than $10). You are talking about this feature ? : http://www.xe.com/fx/ Frogblender said:

use XE.com – these guys are great. Use xe to withdraw from RBC USD, and deposit to RBC CAD: I tried this with $10 USD, it took 4 business days: 0.85% (might get even better with amounts much larger than $10).

You are talking about this feature ? :
http://www.xe.com/fx/

]]> By: Danny http://www.canadiancapitalist.com/transferring-us-dollar-funds-out-of-paypal/#comment-213162 Danny Mon, 15 Mar 2010 20:22:52 +0000 http://www.canadiancapitalist.com/2007/08/22/transferring-us-dollar-funds-out-of-paypal#comment-213162 Hi there! This is to CONFIRM I've had success today (15-March-2010) with a PERSONAL USD account at RBC following the above ORIGINAL instructions and the original routing number provided in the article. It took 2 days for the PayPal transaction (two amounts) to come in, works without a glitch! THANK YOU!!! Danny Hi there!

This is to CONFIRM I’ve had success today (15-March-2010) with a PERSONAL USD account at RBC following the above ORIGINAL instructions and the original routing number provided in the article. It took 2 days for the PayPal transaction (two amounts) to come in, works without a glitch!

THANK YOU!!!

Danny

]]> By: Matthias http://www.canadiancapitalist.com/transferring-us-dollar-funds-out-of-paypal/#comment-213014 Matthias Sat, 13 Mar 2010 01:28:10 +0000 http://www.canadiancapitalist.com/2007/08/22/transferring-us-dollar-funds-out-of-paypal#comment-213014 Well, i have a solution that works for me now, and its not dependent on RBC selectively implementing their policy. Basically, when I called around, none of the canadian banks was willing to give me a US based account if I wasn't a snowbird or something similar. But Harris bank, in Chicago, will open accounts for Canadians without visiting in person. I have transferred my PayPal money into that, then used XE currency converter to move it into my regular Canadian bank account. Unfortunately, the rate I get with XE is about 1.3% off the rate it shows when you just do a quick currency conversion, even when converting $5000. Banks and PayPal tend to take about 2.5%. So I'm only saving 1.2% over letting PayPal do the conversion for me at the 2.5% loss. Well, i have a solution that works for me now, and its not dependent on RBC selectively implementing their policy. Basically, when I called around, none of the canadian banks was willing to give me a US based account if I wasn’t a snowbird or something similar.

But Harris bank, in Chicago, will open accounts for Canadians without visiting in person. I have transferred my PayPal money into that, then used XE currency converter to move it into my regular Canadian bank account.

Unfortunately, the rate I get with XE is about 1.3% off the rate it shows when you just do a quick currency conversion, even when converting $5000. Banks and PayPal tend to take about 2.5%. So I’m only saving 1.2% over letting PayPal do the conversion for me at the 2.5% loss.

]]> By: Paula Sue http://www.canadiancapitalist.com/transferring-us-dollar-funds-out-of-paypal/#comment-213013 Paula Sue Sat, 13 Mar 2010 01:02:19 +0000 http://www.canadiancapitalist.com/2007/08/22/transferring-us-dollar-funds-out-of-paypal#comment-213013 Your suggestion worked like a charm for me because I happened to have a US dollar account with RBC. Bjut where did you get the routing code from? PayPal themselves had told me this couldn't be done. I have a US dollar account with another financial institution and wonder if I can link it with PayPal the same way - and therefore would need to know how to go about getting a US-style routing code for this account, even though it's a US dollar account based in a Canadian financial institution. Your suggestion worked like a charm for me because I happened to have a US dollar account with RBC. Bjut where did you get the routing code from? PayPal themselves had told me this couldn’t be done. I have a US dollar account with another financial institution and wonder if I can link it with PayPal the same way – and therefore would need to know how to go about getting a US-style routing code for this account, even though it’s a US dollar account based in a Canadian financial institution.

]]> By: r1chard http://www.canadiancapitalist.com/transferring-us-dollar-funds-out-of-paypal/#comment-211867 r1chard Fri, 26 Feb 2010 10:22:28 +0000 http://www.canadiancapitalist.com/2007/08/22/transferring-us-dollar-funds-out-of-paypal#comment-211867 US funds I transfered from my PayPal account to my RBC USD Personal Account finally came in. Here's the timeline: Monday - I opened my USD account, and enrolled it to PP. Tuesday - PP sent 2 small amounts which I used to verify my bank account to PP. I sent $200 to my USD account from my PP. Wednesday - PP reflected that the transfer is completed but nothing yet on my bank. Thursday - Money arrived on my USD account. PS. Transfer is a lot faster than sending to my Canadian bank account. US funds I transfered from my PayPal account to my RBC USD Personal Account finally came in. Here’s the timeline:

Monday – I opened my USD account, and enrolled it to PP.
Tuesday – PP sent 2 small amounts which I used to verify my bank account to PP. I sent $200 to my USD account from my PP.
Wednesday – PP reflected that the transfer is completed but nothing yet on my bank.
Thursday – Money arrived on my USD account.
PS. Transfer is a lot faster than sending to my Canadian bank account.

]]> By: Squawkfox http://www.canadiancapitalist.com/transferring-us-dollar-funds-out-of-paypal/#comment-211339 Squawkfox Fri, 19 Feb 2010 17:00:34 +0000 http://www.canadiancapitalist.com/2007/08/22/transferring-us-dollar-funds-out-of-paypal#comment-211339 You only get one transaction a month with the eSavings account. After your freebie, you pay big $$$$. So stick with the US Personal account if you need two or more transactions a month. You only get one transaction a month with the eSavings account. After your freebie, you pay big $$$$. So stick with the US Personal account if you need two or more transactions a month.

]]> By: Scienide http://www.canadiancapitalist.com/transferring-us-dollar-funds-out-of-paypal/#comment-211338 Scienide Fri, 19 Feb 2010 16:57:17 +0000 http://www.canadiancapitalist.com/2007/08/22/transferring-us-dollar-funds-out-of-paypal#comment-211338 So the only difference between the US Personal account and High interest savings is the monthly fee? I'm guessing you get more transactions with the personal acct. So the only difference between the US Personal account and High interest savings is the monthly fee? I’m guessing you get more transactions with the personal acct.

]]> By: Squawkfox http://www.canadiancapitalist.com/transferring-us-dollar-funds-out-of-paypal/#comment-211337 Squawkfox Fri, 19 Feb 2010 16:54:36 +0000 http://www.canadiancapitalist.com/2007/08/22/transferring-us-dollar-funds-out-of-paypal#comment-211337 @Scienide I opened an RBC High Interest eSavings account to avoid the fees associated with the US Personal Account. The RBC High Interest eSavings account worked when I linked it to my Paypal account. @Scienide I opened an RBC High Interest eSavings account to avoid the fees associated with the US Personal Account. The RBC High Interest eSavings account worked when I linked it to my Paypal account.

]]> By: Scienide http://www.canadiancapitalist.com/transferring-us-dollar-funds-out-of-paypal/#comment-211336 Scienide Fri, 19 Feb 2010 16:49:24 +0000 http://www.canadiancapitalist.com/2007/08/22/transferring-us-dollar-funds-out-of-paypal#comment-211336 From what I've read, RBC is the only one where this US personal acct trick works. I think you should be able to open just a US personal acct, but you may want a Canadian RBC acct as well to transfer funds into unless you're just going to withdraw it all and do something else with it... Does anyone know if there's a minimum monthly balance that can be kept with the RBC US personal acct to avoid the monthly fee? From what I’ve read, RBC is the only one where this US personal acct trick works. I think you should be able to open just a US personal acct, but you may want a Canadian RBC acct as well to transfer funds into unless you’re just going to withdraw it all and do something else with it…

Does anyone know if there’s a minimum monthly balance that can be kept with the RBC US personal acct to avoid the monthly fee?

]]> By: r1chard http://www.canadiancapitalist.com/transferring-us-dollar-funds-out-of-paypal/#comment-211304 r1chard Fri, 19 Feb 2010 05:12:37 +0000 http://www.canadiancapitalist.com/2007/08/22/transferring-us-dollar-funds-out-of-paypal#comment-211304 Hi Kookie and Scienide, In RBC, do I only need to open a US Personal Account (Canadian based US Acct) at the least? So I don't need to open any Canadian Dollar Chequing Acct to start with, just (directly) the US Personal Account? Thanks.. r1chard PS. I just opened a USD acct yesterday with my CIBC, only to find out today that it can not be linked to my PP acct. How frustrating. Hi Kookie and Scienide,

In RBC, do I only need to open a US Personal Account (Canadian based US Acct) at the least?
So I don’t need to open any Canadian Dollar Chequing Acct to start with, just (directly) the US Personal Account?

Thanks..

r1chard

PS. I just opened a USD acct yesterday with my CIBC, only to find out today that it can not be linked to my PP acct. How frustrating.

]]>