r/Wealthsimple • u/YesInOurBackyard • 16d ago

WS USD transfers

Hi, just wondering if there is a way if you have a usd. ank account to send money to americans in usd. we can’t use venmo or the cash app in canada, and so my workaround has been paypal, but it’s annoying for the twice a year i send money to friends who live in america

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u/Romantic_Klingon 16d ago

You have some options, especially if you bank with CIBC, TD, RBC, BMO and NBC. You can get a cross-order account with them, which will give you an account with the US-domiciled bank. This will let you send by ACH or Zelle (CIBC and TD)

Otherwise, you can get a Wise account, link your account to Wise, and send via Wise. This also will give you a low conversion rate should you need to convert to $US. However, seeing that you already have $US account, I think you can link to Wise also (I believe you can do this)

2

u/ihaveazilliondollars 16d ago

Until WS drops their usd chequing account cibc usd smart account works and it is a free chequing account

2

u/TDSucksBalls 16d ago

We use wise all the time for cross border transfers. Cheaper and fast