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since ‎Dec-17-2019
ColNas
ColNas Contributor
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Re: Move USD from PayPal to USD account in Canada

by ColNas Contributor in Transactions
‎Dec-21-2019 09:15 PM
1 Kudo
‎Dec-21-2019 09:15 PM
1 Kudo
Thank you Jon. I’ve contacted my bank and will be opening a US based account. Luckily my bank TD operates in both countries so I will then be able to move the USD back over to my Canada based US account. Cheers. ... View more

Re: Move USD from PayPal to USD account in Canada

by ColNas Contributor in Transactions
‎Dec-17-2019 06:32 PM
5 Kudos
‎Dec-17-2019 06:32 PM
5 Kudos
I have just run into the same problem. I opened a Money Pool to give my wedding guests an easier way to send gift funds. These were to be used for our upcoming honey moon. When I checked our balance I was surprised to see that it was in USD. I don’t recall ever being asked about currency, and I set the account up here in Canada... Anyways I thought this would be fine as we need USD for the honeymoon anyway. Until I tried to link my USD bank account. I find it ridiculous that Canadian banks have such a hard time working with USD. The accounting gymnastics required to move CND money into a registered USD stock trading account *within the same institution* are something to behold... Anyways I’m really annoyed that I can’t simply withdraw my USD and spend it as intended without paying 2X exchange fees. I’ll look into the credit card idea another user mentioned below, but I feel that this whole thing is absurd. ... View more
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