Hi johny99,
There's no need for you to open an office in the States (which would
cost you money as well). You can have PayPal deposit US$ in a US
account to avoid their exchange fees by using one of the options below
(both use RBC (Royal Bank) in Canada but it may be possible to use
option one with your current bank, it would be worth a try.
OPTION ONE
You can use a regular Canadian based US$ RCB account with PayPal, it
is just a matter of knowing how to type in your account and transit
number. I don't know if this would work with other banks, you could
try it before switching to RBC. When you set up your PayPal account,
choose U.S. and when it asks for your account number put your transit
number (5 digits) and account number (7 digits), so that your account
number shows up as a 12 digit number [more details in my last link].
OPTION TWO
You should be able to open an actual US account with the Canadian
Royal Bank. It is called the RBC Centura and is an actual U.S. bank
based in North Carolina so you will have a U.S. bank account for your
PayPal deposits. Using online banking, you will be able to transfer
money between your Canadian and U.S. accounts.
RBC Access USA is available in two comprehensive, convenient,
hassle-free packages, each with its own advantages. Simply review the
chart found below and choose the one that is right for you based on
your unique needs."
To find out more about RBC Access USA, ask a personal banker at any
RBC Royal Bank branch or call 1-800-ROYALŪ 5-3 (1-800-769-2553).
http://www.rbcroyalbank.com/RBC:Q-Z@8Y71A8cAAGE4-@0/usbanking/access-usa-details.html
U.S. Banking for Canadians
http://www.rbcroyalbank.com/RBC:Q-Z@8Y71A8cAAGE4-@0/usbanking/index.html
READ MORE DETAILS ABOUT BOTH OPTIONS AT THE FOLLOWING LINK
Canadian Paper Money Forum ? Lists ? Reference Guides
Paypal (Ebay) - $US Balances- in Canada
http://www.cdnpapermoney.com/cgi-bin/yabb/YaBB.pl?board=Reference;action=display;num=1121389847
I was happy to find this for you. If you have any questions, please
post a clarification request and wait for me to respond before
closing/rating my answer.
Thank you,
hummer
Google Search Terms Used:
RBC Centura canada paypal
canadian u.s. bank account paypal |
Request for Answer Clarification by
johny99-ga
on
19 Feb 2006 18:09 PST
Looks good to us, we will be working on the bank work tomorrow,
Thanks
johny99
|
Clarification of Answer by
hummer-ga
on
19 Feb 2006 19:37 PST
Thanks for the update, johny99, I'll look forward to hearing how you
make out. hummer
|
Request for Answer Clarification by
johny99-ga
on
20 Feb 2006 20:09 PST
Hi Hummer,
We went to Royal bank to open a account & were disappointed as they
said only personal name accounts can be opened here for Centura
accounts, they dont do that for business accounts, and its no good for
us, we also found out from Bank of Montreal & Scotia bank both said
they cannot do it !!
We have to look for some other source,
Thanks
Johny
|
Clarification of Answer by
hummer-ga
on
21 Feb 2006 06:03 PST
Hi Johny,
Hmmm, perhaps I misunderstood your question? I understood that you
wanted to continue using PayPal but that you just needed a way to
transfer the money into a US$ account ("get the funds transferred into
our US $ account in Canada"). If I was correct, then I don't
understand why you tried to open a business account with RBC. To solve
your problem (and still use PayPal), you only need a US$ account which
PayPal will accept, it doesn't need to be a business account. The
simplest thing to do would be to open a personal RBC US$ account and
try punching in the 12 digit number at PayPal as described. If that
doesn't work, open a Centura account.
Will look forward to your reply,
hummer
|
Request for Answer Clarification by
johny99-ga
on
23 Feb 2006 18:23 PST
The reason we need the business account, we are a incorporated company
& we cannot have any account on our personal name, let me know if
there is any other thing we can do,
Thanks
Johny
|
Clarification of Answer by
hummer-ga
on
24 Feb 2006 07:43 PST
Hi johny,
Right you are, sorry I didn't realize that the business is a corporation.
Here are two alternatives to PayPal:
1) PsiGate
"Canadian merchants processing in US dollars are required to have a US
dollar bank account at their local Canadian Bank."
Is a business bank account is required?
"Yes, you must have a business bank account in order for PSiGate to
provide merchant accounts. We will electronically deposit your
Canadian/US funds directly into the appropriate account(s)."
http://www.psigate.com/faq.asp
PsiGate
"We do not require any initial deposits for our Canadian Internet
Merchant accounts and our discount rate is very competitive. We do
however require a rolling merchant reserve fund of up to 5%. This
allows Internet Businesses to receive a Merchant ID with very little
upfront investment. All that PSiGate requires is a check of your
credit history and trade references."
http://www.psigate.com/merchantaccount.asp
PsiGate
6725-6 Millcreek Rd
Mississauga, Ontario L5N 5V2
ph 905-567-4000
toll free 1-877-374-9444
fax 905-567-4001
http://www.psigate.com/contact.asp
2) PayNet
"If you have a business in Canada with a predominately U.S. customer
base and you wish to accept credit cards, Visa, MasterCard, and charge
your customers in U.S. dollars, you have come to the right place.
PayNet Merchant Services Inc., is an agent of Harris Trust & Savings
Bank, Chicago, Il, (which is owned by the Bank of Montreal, in
Canada), we are in a unique position to offer Canadian business owners
the ability to have their own U.S. dollar merchant account and accept
Visa and MasterCard from their website or place of business."
"You need to have a U.S. bank account. We can help you get one or you
may use any bank in the United States. Note: U.S. dollar Canadian
bank accounts do not qualify. The bank must be located in the United
States."
"Cardholders will be billed in $U.S. and merchants will be credited in $U.S."
http://canada-merchant-accounts.com/
"We can assist you in obtaining a US bank account with Harris Bank,
Member FDIC. Upon submitting your merchant account application, we
will also apply for a business checking account for you if you need
one. It does take 5 to 7 business days to obtain the US checking
account."
Question: I have tried to obtain a US bank account but am unable to
because I am not a US citizen or I do not have a US social security
number. Can I still apply for US checking account?
"Answer: Yes, Harris Bank is the member acquiring bank (Member of Visa
and MasterCard associations), which credit card transactions are
settled for your merchant account. They have agreed to establish
checking accounts for Canadian merchants who also apply for a merchant
account."
http://canada-merchant-accounts.com/bankaccount.htm
It is possible that you would be able to get your own U.S. business
bank account. Depending on where you are located, call the nearest
U.S. bank and ask. All that may be needed is a U.S. mailing address
(not a P.O. box) and a quick trip down to apply. This would allow you
to continue using PayPal if you prefer.
Three mail forwarders (US address for your bank statements, etc, plus
they would forward your mail to you in Canada):
Access USA
http://www.myus.com/
Mail Forwarding Network
http://www.mailnetwork.com/
USA Box
http://www.usabox.com/
Are we getting close?
hummer
|
Request for Answer Clarification by
johny99-ga
on
24 Feb 2006 18:09 PST
Thanks Hummer, will check this and get back to you !
Johny
|
Clarification of Answer by
hummer-ga
on
24 Feb 2006 19:13 PST
Johny,
Okey dokey - good luck!
hummer
|
