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Global Transfers
November 27, 2020
2:55 pm
Redfish
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Forum Posts: 2
Member Since:
June 20, 2019
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Hi everyone,

After reading Peter's article on EQ or Scotia Global Transfer, I would like to share one recent experience.

I tried Global Transfer with a Canadian bank with no problem.
The money is transferred to an account in a US Bank.
The incoming funds shown "Wire Transfer".
Fortunately, this US Bank account is a premier account that does not charge for incoming wire transfer.
If it were not a premier account, it might have charged USD $15 for an incoming wire transfer.

Perhaps others can share their experience on whether charges were made on incoming funds.

Thanks.

November 27, 2020
3:14 pm
Peter
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May 15, 2007
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That's a pretty key detail. Thanks for sharing.

When I've transferred with TransferWise (which EQ Bank uses) they use ACH. With OFX, they typically use ACH, although one time a transfer defaulted to a wire and I contacted them to change a setting to make sure it always transferred as ACH moving forward.

November 27, 2020
5:16 pm
topgun
Member
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Forum Posts: 388
Member Since:
September 6, 2020
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Redfish said
Hi everyone,

After reading Peter's article on EQ or Scotia Global Transfer, I would like to share one recent experience.

I tried Global Transfer with a Canadian bank with no problem.
The money is transferred to an account in a US Bank.
The incoming funds shown "Wire Transfer".
Fortunately, this US Bank account is a premier account that does not charge for incoming wire transfer.
If it were not a premier account, it might have charged USD $15 for an incoming wire transfer.

Perhaps others can share their experience on whether charges were made on incoming funds.

Thanks.  

I setup a USD dividend to my Canadian USD bank account on a quarterly basis. The US bank charged $10 USD for the transfer. The Canadian bank charged $15 USD for deposit. I admit the Canadian bank would refund the $15 USD if I called them. Not much left for me. I cancelled the feature. I get a USD check.

Have a Great Day

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