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  1. #26
    Join Date
    Jan 2002
    Location
    Toronto, Canada
    Posts
    11,052
    Yes, in Canada it's transit number not routing number...

    Vito
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  2. #27
    I'm meeting with RBC tommorrow to try and get an account setup in us funds which can also have deposits done as a us account (using a routing number). Other places that seem to offer it are BMO, HSBC & TD. I hope it works out . I guess I can walk down the street to the next bank if the person just didn't know what they were talking about...

    (I'm trying to avoid PayPal converting my funds to CAD).
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  3. #28
    Join Date
    Jan 2002
    Location
    Toronto, Canada
    Posts
    11,052
    ddent, please post the results of your meeting. I'm interested. Right now, even though I have a Canadian $ account and a US $ account at TD Canada Trust, I still am forced to deposit Paypal funds into my Canadian account in Canadian funds. I would much rather prefer to deposit into my US account and transfer when I see a favorable exchange rate.

    Let us know, OK?

    Vito
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  4. #29
    Will do
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  5. #30
    Join Date
    Apr 2003
    Location
    Toronto, Canada
    Posts
    112
    If you have a Canadian bank account in US dollar funds, will paypal activate your account without you ALSO adding a credit card?

    I do not have (or want) a credit card, and have a US dollar account at TD Canada Trust.

    (I tried to write to paypal about the issue, but my site isn't set up yet so I used a free email account... I'm still very upset that they bounced my support request just because I used a hotmail address.)

  6. #31
    Originally posted by vito
    That's what I would've thought. But the "supervisor" on the phone said no.

    Hmmf. Some supervisor, huh??

    Vito

    Just a quick note. I called a company I had a domain registered with once to have it unlocked so I could transfer it. They told me they didn't have control over the domain. I then faxed them the receipt regarding the sale of this domain, and they said " Oh, well your receipt must be wrong because we don't show it in our computers "....supervisors are not always right. They are just there to SOUND like they are right!

  7. #32
    Join Date
    Jan 2003
    Posts
    968
    Originally posted by ddent
    Will do
    What were the results of your bank meeting? Vito must've forgotten to follow up on this.

  8. #33
    Join Date
    Jan 2002
    Location
    Toronto, Canada
    Posts
    11,052
    You're right, tandem. I forgot.
    And yes, I would be interested in the results of the meeting.

    Care to share, ddent?

    Vito
    DemoDemo.com - Flash tutorials since 2002
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  9. #34
    Absoloutely. Inconclusive at the *moment*, but very very promising. I have manged to get $100 US in to my US account at Royal, and haven't paid any fees to do so. There are a few details I need to work out. More to details to follow when I have more certainty.
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  10. #35
    Join Date
    Jan 2002
    Location
    Toronto, Canada
    Posts
    11,052
    Geez, well that makes me very very confused. Earlier today I spoke with the International Department at Paypal. They unequivocally said that currently the only account to which they can deposit is my Canadian currency account in Canada. They said that the problem is that although my other account is drawn on US currency, it is physically located in Canada. If I had an account in a bank located in the US, it would not be a problem.

    The only thing that might make sense is that perhaps Royal Bank has actual physical presence in the US?

    I'm sooooooooooo confused...

    Vito
    DemoDemo.com - Flash tutorials since 2002
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  11. #36
    It works with correspondent banks.

    However, that said, they *should* be able to do IDD to *any* Canadian US dollar account, they just don't want to I guess so they can make $ off currency conversion.

    As I say, more details to come soon .
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  12. #37
    Join Date
    Apr 2003
    Location
    Toronto, Canada
    Posts
    112
    Any details yet?

  13. #38
    OK, I've finally gotten around to posting some information. See 'My PayPal USD->CAD currency conversion avoidance quest' in the 'Running a Web Hosting Biz' forum.

    Regards,

    Daniel Dent
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  14. #39
    Join Date
    Aug 2001
    Posts
    4,028
    lol, what a premature post that was on my part My aunt works in the CIBC and told me countless times that they could do this... I closed all accounts, opened all my CIBC and then learned they couldn't.

    I just said screw it and now get my checks each month.

  15. #40
    Join Date
    Jan 2002
    Location
    Canada
    Posts
    57
    Originally posted by Mekhu
    lol, what a premature post that was on my part My aunt works in the CIBC and told me countless times that they could do this... I closed all accounts, opened all my CIBC and then learned they couldn't.

    I just said screw it and now get my checks each month.

    That's really strange as I transfer $$ from PayPal to a CIBC account on almost a daily basis. Below is the receipt I get from Paypal. Takes about 3-4 days before the $$ is actually in your account. Never set up anything wth my bank..just added my bank account info onto my PayPal account.

    --------------

    Withdraw Funds to a Bank Account (ID #78B076138M72xxxxx)

    Name:
    Bank Account

    US Dollar Amount:
    -$120.00
    PayPal transaction fee:
    -$0.55
    Net U.S. Dollars:
    -$119.45
    Exchange Rate:
    X 1.51040
    Total :
    C $180.41

    Date:
    March 4, 2003
    Time:
    9:23:47
    Status:
    Completed


    Funding Source:
    Canadian Imperial Bank of Commerce Checking (Canada) XXXXXX1618

  16. #41
    Join Date
    Apr 2003
    Location
    Toronto, Canada
    Posts
    112
    If you have a Canadian US-dollar account, do you still need a credit card in order to open a paypal account?

    Thanks.
    DStar

  17. #42
    Join Date
    Jan 2002
    Location
    Canada
    Posts
    57
    Originally posted by DStar
    If you have a Canadian US-dollar account, do you still need a credit card in order to open a paypal account?

    Thanks.
    I use my CC with Paypal to handle any overages, but I'm not sure if one is required. I'm sure you'll find out if you fill out their signup form.

    Although I've never had a problem with PayPal, it seems that others have so you may want to do a search here.

  18. #43
    Join Date
    Apr 2003
    Location
    Toronto, Canada
    Posts
    112
    No, you can't find out from the signup form.

    For another business, I tried to add a Canadian bank account, and three months later after several tech support calls, was still unsure of why my account hadn't been activated yet. (At the time I signed up, they said on the front page "just add a credit card or bank account" - yeah right.)

    For US accounts, they say you can add a bank account to be activated, but must add a credit card to be verified.

    No information on US-dollar Canadian accounts. I don't want to sign up and go through another three months of hassle just to find out I've given my bank information out for nothing.

    I've written to them and have had no response, so was hoping someone had experience of it.

    Their customer service is obviously not that great, but what are the alternatives that are easy for customers to use and don't require me to have a credit card? *Shrug*

    (I'd need at least $2000 US in collateral for a credit card, and that money would be better off going into my business if I had it. )
    DStar

  19. #44
    Can anyone post what the proper transit number is for CIBC when accepting money from Paypal?

    I "think" I read here that it may be a different transit number than what would normally be used.

    Thanks.

  20. #45
    Join Date
    Oct 2000
    Location
    Toronto
    Posts
    1,110
    Well the TRANSIT number is the BRANCH #. So, it all depends on what branch you're with.

    The institution # for CIBC is the same, but branch/transit # is different.

  21. #46
    I realize this thread died quite awhile ago, but I had a related question.

    I live in Canada and have an account with BMO. I also have a paypal account. To date, I can't figure out how to add my BMO bank account to my paypal account. The Transit/Institution numbers I have from BMO don't match the same format as the ones needed by the add bank account form in Paypal.

    Anyone have any ideas? Perhaps I'm missing out on something obvious.

  22. #47
    Join Date
    Dec 2004
    Location
    Canada
    Posts
    345
    You should have no problem adding BMO to your paypal account, it worked fine for me while I was with them

  23. #48
    Well, that's good news. Hopefully I'll be able to get mine working as well.


    I should add I have a savings, not a checking account.

    Paypal asks for:
    A 5 digit bank transit number
    A three digit institution number
    and a 1-12 digit account number.

    My bank statements provide me with a four digit transit number and a seven digit, hyphen seperated account number. (####-###)

  24. #49
    Join Date
    Aug 2004
    Location
    Toronto
    Posts
    144
    Regarding your question on BMO, I'm going to attempt to answer, but my feeling is your best bet might be to call them for the information. I have one savings account linked to my PP account with no issue. Or better yet, ask your bank for a few cheques, just tell them you would like them for direct deposit purposes -- they will usually give you a few. Yes, you CAN get cheques on a savings account.

    If you do get ahold of some, here's what you would be looking for:

    On most standard cheques, there is 3 blocks of numbers. ie:

    001: 12345::123:123456

    The first block is the cheque number. In my example, it would be cheque #01. The Transit Number would be 12345. The next block, 123, is the "Institution Number". For example, PC Financial's Institution Number is 326. The Final string is your account number.

    Hope I've been some help.
    :: Kevin
    :: Dotniagara Professional Web Hosting Since 2006.

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