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To Canadians- does CIBC accept electronic money transfers from Paypal?

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  #1  
Old 03-23-2003, 06:51 PM
GeorgeC GeorgeC is offline
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To Canadians- does CIBC accept electronic money transfers from Paypal?


I have some money (US funds) in my Paypal account, and apparently I can only receive that money through electronic transfer to my bank account, which is CIBC. Does CIBC by default support electronic transfers from Paypal? I reside in Canada, obviously.

Thanks,



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  #2  
Old 03-23-2003, 06:56 PM
vito vito is offline
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I don't see why you would have a problem with that. I withdraw $$ from my Paypal account into my TD Canada Trust account on a regular basis. Just go into your Paypal account and enter your banking info. Make sure that you match all the bank account info very carefully. As well, be sure you clearly specify the name registered to the bank account. If there are any errors, you are in for a delay.

Once set up, you can withdraw whenever you want (there is a fee for every withdrawl, so don't do it too often). It normally takes about 4 business days before I see a withdrawal end up in my bank account.

Good luck.

Vito

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  #3  
Old 03-23-2003, 06:59 PM
GeorgeC GeorgeC is offline
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Thanks Vito. My main concern is CIBC, which doesn't seem as high tech as some of the other banks like Royal or TD.

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  #4  
Old 03-23-2003, 07:06 PM
vito vito is offline
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CIBC seems pretty much one of the big banks so I'm pretty sure you'd have no problems. They have online banking (https://www.pcbanking.cibc.com/english/servlet/SignOn ) as well as all the other services offered by the other majors, so it should be OK. To be safe, though, just give your local branch a call tomorrow and I'm sure they will confirm that it's OK.

Vito

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  #5  
Old 03-23-2003, 07:15 PM
vito vito is offline
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Yup, I'd put money on the fact that you can transfer $$ from Paypal to CIBC.

They're already involved in handling email-based funds transfer:

http://www.pcbanking.cibc.com/englis.../TestDrive.jsp

Vito

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  #6  
Old 03-23-2003, 07:19 PM
GeorgeC GeorgeC is offline
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Thanks Vito for all the help. If there's someone who has a CIBC account and uses Paypal as well, a final confirmation would be appreciated as well.

  #7  
Old 03-23-2003, 07:37 PM
vito vito is offline
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Wow, what a shocker. While I was sitting here doing my work, I called the CIBC HelpLine. Was on hold for 15 minutes - who cares, it was on speakerphone (and toll free).

The guy didn't even know what Paypal was. He had to go and ask one of his supervisors. Answer: CIBC does not currently handle Paypal transfers...

I'm glad I didn't place that bet...

Vito

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  #8  
Old 03-23-2003, 07:48 PM
Spingen Spingen is offline
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It works fine, I use CIBC and thats where my money from paypal goes. Its just a direct deposit, I don't see why you thought CIBC would have been different then any other bank.

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  #9  
Old 03-23-2003, 07:50 PM
vito vito is offline
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That's what I would've thought. But the "supervisor" on the phone said no.

Hmmf. Some supervisor, huh??

Vito

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  #10  
Old 03-23-2003, 07:50 PM
GeorgeC GeorgeC is offline
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Wow that is a shocker indeed Vito. See, I told you CIBC isn't exactly high tech Maybe I'll still call tomorrow to confirm, but so far it's not going good. Damn.

Edit- Opps just read the other response as well. LOL so much confusion. Guess I'll just call tomorrow and clear things up for good.


Last edited by GeorgeC; 03-23-2003 at 07:55 PM.
  #11  
Old 03-23-2003, 07:51 PM
Spingen Spingen is offline
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Supervisor doesn't mean smart If they have never heard of it then obviously it won't work

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  #12  
Old 03-23-2003, 07:52 PM
Spingen Spingen is offline
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Quote:
Originally posted by easybyte
Wow that is a shocker indeed Vito. See, I told you CIBC isn't exactly high tech Maybe I'll still call tomorrow to confirm, but so far it's not going good. Damn.
Easybyte, I just said it works fine. Just add the your bank account information to your PayPal account, make the transfer, in 5 business days you will see your money. Done and Done.

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  #13  
Old 03-23-2003, 07:53 PM
vito vito is offline
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Well, as Spingen said, he uses Paypal with his CIBC account and all is good. So likely I just got a guy on the phone with room-temperature IQ.

Looks like you're in luck!

Vito

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  #14  
Old 03-23-2003, 09:59 PM
Mekhu Mekhu is offline
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CIBC may not be the most high tech, but they're the only bank whom I could get direct deposit from 2checkout.com to work with!!!

  #15  
Old 03-23-2003, 10:24 PM
trustedurl.com trustedurl.com is offline
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Quote:
Originally posted by Mekhu
CIBC may not be the most high tech, but they're the only bank whom I could get direct deposit from 2checkout.com to work with!!!
how were you able to do this?? AFAIK they're not capable of doing that yet.... tell me the secret!

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