All Questions
50
questions
0
votes
0
answers
76
views
USA to CA transfer
I am located in Canada. My friend was sending me some money. She is located in South Carolina and sending via bank to bank transfer. Transfer was made two weeks ago and still has not been received on ...
- 1
0
votes
1
answer
218
views
Does anyone know where the rules for printing/writing checks are defined?
I know this is somewhat offtopic, but I'm really not sure where else to ask:
I've got an idea for (mildly) improving check security. Something similar has been done in the past, but that was decades ...
- 49.1k
0
votes
1
answer
14k
views
What is the IBAN number of an account in Canada?
I need to make a wire transfer from Europe to Canada through the banks.
Europe is using IBAN code system for wire transfer. It has a 26 digit code.
Canada is using SWIFT code system for wire transfer. ...
- 101
3
votes
1
answer
4k
views
Is the Interac e-Transfer email-to-bank-account mapping unique?
A mechanism (Interac) in the Canadian banking system permits people to send amounts less than $3,000 over email.
This also works for transferring funds between two accounts held by the same person at ...
- 133
-1
votes
1
answer
2k
views
How can I provide proof of ownership of a bank account?
I set up a gambling account ended up making a large amount of money. I have verified my ID and proof of address and I want to withdraw, but I need a proof of ownership of the bank account that funded ...
- 157
16
votes
6
answers
5k
views
While transitioning to a new (online) bank is it OK to have my money split between two banks?
I used to keep all my money with one bank. I recently opened an account with another bank and have slowly been transitioning towards them. I have multiple jobs and sources of income. Now when someone ...
- 497
4
votes
1
answer
312
views
What is the difference between a checking account and savings account?
I understand the exact difference will vary from bank to bank. But in general, I understand that savings accounts have a higher interest than checking. So if it's that simple why not always use the ...
- 1,119
0
votes
0
answers
60
views
How to setup a canadian CIBC bank account, from the US?
I am an international student (US citizen currently residing in the US). I will be going to university in Toronto Canada in a couple of weeks. I have arranged to pay rent for a single room apartment, ...
1
vote
1
answer
701
views
Is it suspicious to send $10K via Interac e-Transfer by dividing it into 4 transfers of $2.5K each?
At my bank, there is a $3,000 daily limit and $10,000 weekly limit on Interac e-Transfers. Will the bank or regulatory authorities be suspicious if I decide to use Interac e-Transfer to send $10,000 (...
- 17.1k
0
votes
1
answer
1k
views
Can a stolen Government cheque be cashed by someone else?
I received a trillium check in the mail, I didn't sign it yet. The cheque was stolen and I want to know if she signs the cheque and deposits it into her ATM can she withdrawal the money right away?
0
votes
0
answers
81
views
Canadian and PayPal account linked to US bank
If a Canadian citizen has a US fund bank account in Canada, can they open a PayPal account and link the US fund bank account to it? They will not have a US address since they only have the US bank ...
- 1
1
vote
1
answer
290
views
Cashing a UK Bank issued check in US Dollars in Canada
I have a cheque from a UK Bank I need to deposit. I live in Canada. The funds on the cheque are in USD. My Canadian Bank isn't able to accept the cheque since the funds are issued by a UK bank but ...
- 11
1
vote
1
answer
217
views
Will I have a problem buying a large bank draft with wrong address on my ID?
I'm in the middle of a cash real estate purchase and will need a fairly large (close to $100k) bank draft in the next few days. I just realized the address on my photo ID is out of date, and my bank ...
- 586
3
votes
1
answer
954
views
Is there a limit to how large a bill I can pay from a bank account?
If I have a checking account, can I use it pay large bills using online banking without encountering any difficulties? I intend to pay a bill of $20k+ to an educational institution. It will be a bill ...
- 17.1k
0
votes
0
answers
69
views
Is a non-resident allowed to receive money transfers from other non-residents to help them pay for things in Canada?
Suppose a parent has two children: child A and child B. Both children are 18+. The parent, child A, and child B are all non-citizens and non-residents of Canada; they do not live in Canada. Child A ...
- 17.1k
25
votes
8
answers
7k
views
Selling a House Upfront Or Collecting An Income Over Time?
Suppose that you have a house worth $500,000.00 that is gifted to you and this house is completely paid off. The people who want to purchase this house will need to go to the bank to get a loan so ...
- 399
2
votes
1
answer
410
views
Can the CRA peek into the amount of a Canadian bank account forthwith?
I mean without any search warrants or court orders.
I ask because for the 2018 tax year, my brother in Grade 12 earned a total income of $500 CAD from only interest. The bank issued a T5 statement ...
user40269
1
vote
1
answer
82
views
Do I need to live in Canada to have a bank account in Canada?
I live in the US. I am considering opening a bank account in Canada.
Do I need to live in Canada to have a bank account in Canada?
If so, am I required to file tax in Canada?
- 1,117
19
votes
4
answers
7k
views
If I have given my bank details to someone by email what should I do now? [duplicate]
I have given someone my bank account details including my home address and phone number by email, supposedly so that money can be transferred into my account.
I am now quite sure this is a scam.
...
- 199
0
votes
0
answers
76
views
Is the amount of a pull (from the receiving institution) limited?
User 'DanLynch' defines 'push' and 'pull':
If you do a "push", the money will be removed from the sending account immediately, and will usually arrive in the receiving account in 1 to 3 ...
user10763
0
votes
1
answer
613
views
Why does DICO insure until $250K, but CDIC until $100K?
This question doesn't duplicate this other that doesn't compare CDIC with DICO. As of Dec 6 2018:
DICO [Deposit Insurance Corporation of Ontario] insures deposits up to $250,000.
We CDIC insure ...
user10763
1
vote
0
answers
396
views
As a US Citizen can I open a Canadian bank account without my social security number?
As I stated in the title: will I need to provide my Social Security Number if I choose to open a bank in Canada as a US Citizen?
- 11
5
votes
1
answer
193
views
Power of Attorney on Bank Account - Anything to Watch out For?
In planning for their later years in life, my parents want to have me become power of attorney, and to have control of their banking accounts, etc.
They are still of sound mind, etc, and I wouldn't ...
- 206
1
vote
1
answer
249
views
In Canada, is it legal to transfer Adsense earnings to free tax account?
As long as you respect the free tax account limit, is it legal and correct to transfer Adsense earnings to free tax account in Canada?
My objective is to not pay taxes on Adsense earnings.
Note : ...
- 141
1
vote
2
answers
3k
views
How can I transfer money from my Canada Scotia bank account to any bank account
Presently I'm in the U.S and I have some money in my Canadian Scotia bank account. How can i transfer a large sum of money from my Scotia bank account to another bank using my online banking
- 21
2
votes
2
answers
364
views
Long term investing alternative to mutual funds
Background
I'm trying to figure out what is the best way to supplement my RRSP for
retirement. In Canada, I can contribute roughly 18% of my annual income (up to
an annual maximum of about $26,230.00)...
- 163
32
votes
4
answers
7k
views
Why do most banks in Canada charge monthly fee?
I am not sure about other countries, but here in the UK we mostly don't need to pay a monthly fee. But I was a bit surprised to learn that most Canadian banks do charge monthly fees that some of them ...
- 439
0
votes
1
answer
132
views
How to choose a bank?
Once you move to a new country (Canada or USA), how to choose a bank to open an account? What are the important factor if you are also looking for the mortgage etc. after few years?
- 101
-2
votes
2
answers
200
views
How to deposit a cheque issued to an associate in my business into my business account?
A customer paid with a cheque made out to an associate in my business instead of the business name. How can I deposit this cheque into my business account ?
- 19
1
vote
1
answer
692
views
getting paid for work in Canada to a U.S bank account?
So I'll be temporarily transferred to one of our company's offices in Canada for about a year.
Can I be paid to my U.S bank account just so I won't have to transfer the money back to the U.S when I ...
- 11