Hi

I was wondering if anyone in Canada is dealing with Worldpay.

Specifically what are the options for receiving settlements into a Canadian bank account. I understand settlement is via wire transfer which in its own has quite a high charge from the banks themselves.

My local bank informs me the minimum charge is at CAD$25.00 (!)just to receive the transfer. Another Canadian bank I don't deal with is quoting CAD$15.00 per transfer.

Worldpay pays out weekly, so per month these costs are at around $60-100 :eek:

I'm very curious to know what everyone is doing to cut there costs and if there are alternatives.

Cheques? Or does Worldpay have an account in a local Canadian bank and the costs are more like a electronic fund transfer bank to bank locally in Canada?

Regards,
Nic

Contact Worldpay and ask them to pay once a month. This will solve your problem - you cannot waive incoming wire transfer fee.

Ahhh, ok... that's excellent.

Thanks.

Try dealing with RBC instead. Their incoming wire charge is only $10.

Another thing to do is to increase the remittance amount to a high amount so that these fees will only constitute a small percentage of the funds.

I am in Canada and using epay2000.com

Payouts occur when you request them. You have total control over the payout process. This works well for me as I am in Canada and their fees for bank wires are low.

You can also get paid by check, which costs nothing, unless you want the check sent to you overnight by Fedex.

Overall, they are a pretty good company.

Highly recommended.

A|J,

Thanks for the pointer to RBC. That's the lowest by far :)

Had a look at ePay2000 but they're reselling model reminds me of 2CO and i've read terrible horror stories on them.

I know that's hardly fair to put them in the same boat so I won't disregard them. Thanks for the headsup to another provider here in Canada.

I deal with CIBC and RBC, they both charge $10 only for each incoming wire