| Any Canadian Blues Out There? 15:16 - May 13 with 569 views | Kropotkin123 |
Relocating in a couple of months. I have a Wise (ex Transferwise) account. I have a Canadian bank account on it. But it says I can only receive money via EFTs... Domestic wire transfer, OBT and SWIFT are not yet supported, as it has only recently been added.
Struggling to understand how companies commonly pay staff and whether getting an additional bank account should be a priority. So thought I'd try my luck on here, as google and YouTube are failing me.
Any ideas? |  |
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| Any Canadian Blues Out There? on 16:09 - May 13 with 471 views | stringy |
English but based in Canada (ON) since 2007; e-transferring money to Europe via my CIBC account is possible for amounts over $100 but a fee, not sure I've received any money from Europe to know how much you lose on rates and fees.
Is it a matter of still being paid from UK and wishing to diminish costs? In that case I'd speak directly to your bank, bit of a roulette in terms of when to move money and I'd suggest a large amount in one go (then stop looking at exchange rates as they'll invariably get better, sod's law) rather than a death-by-a-thousand-cuts of small transfers.
Example of latter, I work in Greece and UK all summer and for every cashpoint use (drawing on Canadian bank account) it's pretty much $10 for each transaction ($5 here and $5 there).
Good luck! |  | | |
| Any Canadian Blues Out There? on 16:31 - May 13 with 430 views | Kropotkin123 |
| Any Canadian Blues Out There? on 16:09 - May 13 by stringy |
English but based in Canada (ON) since 2007; e-transferring money to Europe via my CIBC account is possible for amounts over $100 but a fee, not sure I've received any money from Europe to know how much you lose on rates and fees.
Is it a matter of still being paid from UK and wishing to diminish costs? In that case I'd speak directly to your bank, bit of a roulette in terms of when to move money and I'd suggest a large amount in one go (then stop looking at exchange rates as they'll invariably get better, sod's law) rather than a death-by-a-thousand-cuts of small transfers.
Example of latter, I work in Greece and UK all summer and for every cashpoint use (drawing on Canadian bank account) it's pretty much $10 for each transaction ($5 here and $5 there).
Good luck! |
I'll be paid in Canada by a Canadian company. But I'll have money that I'll move over slowly over time.
I guess the main motivators are
- Not paying bank fees
- Having an app-first bank account
- Avoidance of it being something I have to set up upon arrival, so I can focus on other things
- Having an international account - I have family in France, US and the UK it makes things easier to have a EUR, USD and GBP on one account (and going forward CAD)
Amongst Canadian banks, Tangerine ticks the most boxes for me personally. But if I didn't have to mess around with that to begin with, then I would delay it. | |
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| Any Canadian Blues Out There? on 18:09 - May 13 with 369 views | davray9 |
| Any Canadian Blues Out There? on 16:31 - May 13 by Kropotkin123 |
I'll be paid in Canada by a Canadian company. But I'll have money that I'll move over slowly over time.
I guess the main motivators are
- Not paying bank fees
- Having an app-first bank account
- Avoidance of it being something I have to set up upon arrival, so I can focus on other things
- Having an international account - I have family in France, US and the UK it makes things easier to have a EUR, USD and GBP on one account (and going forward CAD)
Amongst Canadian banks, Tangerine ticks the most boxes for me personally. But if I didn't have to mess around with that to begin with, then I would delay it. |
Have sent you a DM... |  | | |
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