Sending money to USA?? | GTAMotorcycle.com

Sending money to USA??

oioioi

oioioi

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What is the best/easiest/cheapest way to send funds to someone in USA?
Not a retail or e-commerce business, but an individual.

Sat someone wants to buy something privately.
I have done it once before via PayPal but the conversation/fees was not cheap.
 
How much money and how much trust? Xe.com can do a wire if you know their account information. No charge for wire and decent exchange rate.
 
400-700 USD.
Not a family member so not sure if getting an account number will be possible.
 
Hmmmmm .

Sounds easy and doable from my side but not sure if I can get the seller to agree to it.

Would having a US bank account here help. In a Canadian bank or not really.
 
oioioi said:
Would having a US bank account here help.
Click to expand...
It would help in the conversion to USD, won't help getting the money to them. You'd need a USD account IN the US.
Paypal will be the easiest, or Venmo. If you go through the bank you'll pay for the transfer, about $32 for me, plus conversion fees.
 
I bought a bike from Texas in 2016 without stepping foot in the state. A friend a few hours away offered to bring it up with him since he was coming up later in the year anyway. My friend arrived, inspected, and called me confirming all looked good. He passed the phone to the seller and I Paypal'ed the funds with almost instant confirmation, and then my friend loaded it onto his truck.

I considered numerous options including Western Union, but Paypal worked out to be the best option for that scenario.
 
oioioi said:
Hmmmmm .

Sounds easy and doable from my side but not sure if I can get the seller to agree to it.

Would having a US bank account here help. In a Canadian bank or not really.
Click to expand...
If you have a TD account in Canada, you can use TD Global transfer through your web banking (EasyWeb), there are no fees.

  • VISA Direct: Send funds to a US VISA debit, VISA credit or re-loadable prepaid Visa card. Typically 20 minutes, can take up to 24 hours for some banks to post. Transfer is done thru VISA.

  • TD Global transfer sends directly to any US bank account. You need acct and routing number for the destination. The destination bank has the funds almost instantly -- but can take from 1 to 48 HRS to post. It uses the US ACH system.
If you have a USD account with US funds, you can send from there. If not, you can send from any CAD deposit/LOC/Credit Card account and TD charges you their standard wicket fee for converting CAD to USD.
 
Are you going to be doing this often enough that you can justify the time and hassle of setting up a USD account? When I was sending a lot of money back and forth regularly I had a TD Waterhouse USD account that was linked to my PayPal account and then I was able to avoid their attrocious USD/CAD exchange rates as I just paid basically the live exchange plus .25% or something like that. Mad Mike offers some insight on that above.

But if this is a one time thing, the hassle involved in doing all that to save maybe $50 or whatever in the end, not worth it.

You could also just draw a USD bank draft from one of our major banks (TD is a good option as they have a USA presence as well) and mail it...this assumes you trust the person on the other end to not rip you off as you are sending basically the equivalent of cash in the mail. They can just deposit it at their ATM or bank and done deal for them.
 
I don't expect to do it often, only once in a while when I need something out of the USA at a good deal.

Looks like it is more hassle than its probably worth for a one-time transaction.

Maybe if I am in the USA for a few days visiting family I may set up an account but I am not sure if that's even possible as a Canadian citizen.
 
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