Can I have US$ from my US sales deposited in my US$ Canadian bank account?
Hi!
I sell mostly on Amazon.CA but sell a bit on .COM too.
I have a US$ bank account (Canadian) and was wondering if my US$ from my .COM sales could be sent to it instead of being converted in CAD$ in my CAD$ bank account.
I often use US$ and I'm really throwing money out the window by having it converted twice back and forth.
Can I have US$ from my US sales deposited in my US$ Canadian bank account?
Hi!
I sell mostly on Amazon.CA but sell a bit on .COM too.
I have a US$ bank account (Canadian) and was wondering if my US$ from my .COM sales could be sent to it instead of being converted in CAD$ in my CAD$ bank account.
I often use US$ and I'm really throwing money out the window by having it converted twice back and forth.
15 replies
Seller_XVSrq0moPpW5c
I'm also a Canadian seller but have a few items listed across the US marketplace. From my experience, you can only connect a US funds account if the bank is actually located in the US. I attempted to connect a TD US$ account but was unsuccessful. If anyone else has information on how to get this to work I'd be open to getting that feedback as well.
If you're close to a border it doesn't take much to go to a local bank branch and open an account there, that's what I'm considering doing.
Seller_VmDB28EfiWru4
You need a US transit number bank account in order to get US$. You could either drive down to US and open an account or use either RBC or TD's US US$ bank accounts. TD provides personal account whereas RBC provides business account.
Seller_MQQBHDfSDIKMC
You can use Wise to open multi-currency account and have US funds deposited there. Wise also will give you a Visa/Mastercard debit card connected to the account, so you can use it to pay directly from there in US funds, no conversions.
Another option is to open BMO Harris account, it just takes longer.
Seller_rTAxflJvPFLKc
try wise, you can open CA account and US account the same time, CA account is in Canada, and US account in the US, and you can move the funds around, their ex rate is also the best
Seller_MYY5uBmeYyehr
What do you think will happen with my next US$ deposit that's now linked to my US$ Canadian account?
Will it be converted twice from US$ to CA$ by Amazon and then from CA$ to US$ by my bank?
So, in the end, I'll have like 6-7% less US$ than Amazon sent because of the conversion rate being applied twice in the transfer?
Seller_MYY5uBmeYyehr
I'm starting to get a little nervous...
It's been 5 days since both my .CA and .COM payments were made.
Usually, both amounts show up in the same time in my CA$ account.
The amount from .CA has cleared 4 days ago but there still no signs of the .COM amount in my US$ account...
On .COM seller central, it says the payment has been made and is not pending.
Seller_MYY5uBmeYyehr
I called my bank and with the trace ID given from Amazon, they were able to tell me the transfer was refused and the amount was being returned to Amazon.com
It was refused because the currency was different. Amazon.com was trying to deposit a CA$ amount in my US$ bank account.
Do you think the amount will re-appear in my Amazon.com Seller Central account?
@Ricardo_Amazon Could you have a quick look into this? I'm really worried about my funds now (~5700$) and would like to know if I need to do something to get my funds back or if I just need to wait.
Seller_MYY5uBmeYyehr
The founds were returned to my account and I was able to change the deposit bank account - all is good! Thanks!
