Paypal or ????

[lil mama 7]

Can someone that uses paypal please explain how I can deposit US funds and convert CDN to US? are the fees not high to do that ?..... what are my other options should I just transfer $ to my fiancee bank account???? or open a US bank account here in Canada and get a US visa as well? im confused and would like to hear as I cannot open a US bank account without a SSN and dont want to pay high transaction fees

[JillA 2]

www.customhouse.com

FREE service and the best ever

[Udella&Wiz 325]

Can someone that uses paypal please explain how I can deposit US funds and convert CDN to US? are the fees not high to do that ?..... what are my other options should I just transfer $ to my fiancee bank account???? or open a US bank account here in Canada and get a US visa as well? im confused and would like to hear as I cannot open a US bank account without a SSN and dont want to pay high transaction fees

You need to take a look at the treads relating to transferring money and establishing credit (for opening a credit card here). There are plenty of experiences ot draw on.

Someone will mention Customhouse as a good safe way to transfer money I'm sure....I haven't heard of anyone using paypal to transfer their moeny down here though - who knows, maybe it's possible.

You may need to be added to your fiance's bank account first once you move

[domegirl1978 1]

My fiance sends me money through paypal all the time. He just transfers the money from his U.S. bank account to me and I get the invoice. On my side, my Paypal account is connected to my bank here in Montreal so I just transfer the funds into there and it automatically gets changed from U.S. dollars to Canadian dollars. I've never had a problem with it. The most he's ever sent me at one time is about 600$. The fees are minimal and of course there is also the exchange rate to consider as well.

[trailmix 77]

Can someone that uses paypal please explain how I can deposit US funds and convert CDN to US? are the fees not high to do that ?..... what are my other options should I just transfer $ to my fiancee bank account???? or open a US bank account here in Canada and get a US visa as well? im confused and would like to hear as I cannot open a US bank account without a SSN and dont want to pay high transaction fees

I've only used paypal for ebay stuff - their fees are too high in my opinion and I wouldn't consider using them for just transferring funds, but I suppose it is worth looking at - but why would you want to pay fees when you don't have to?

You have a few options. The first I would suggest, for transferring money to your fiancee - is customhouse. Check out this thread for more info on that:

Custom House Currency Exchange, How Safe are they

You can also open a U.S. account in Canada. The only two I am familiar with are TD and RBC. With TD you can open a U.S. dollar account and get a U.S. dollar visa and pay that visa from your U.S. dollar account. They don't offer a debit card with this account. If you are just looking for a place to park your U.S. money and you also have a Canadian account with them, this is kind of handy, you can check the rate on the amount you want to transfer in to U.S. dollars before you make the trade, online.

With RBC you can open both a U.S. account (in the U.S.) and Canadian account (in Canada) and transfer money from account to account - however, it probably won't be handy for you if you aren't going to live in Florida or Georgia as they have very few branches in the U.S. - they probably also offer just a regular 'in Canada' U.S. dollar account as well, like the TD does, I haven't really looked at that.

Edited August 21, 2009 by trailmix