Quote:
Originally Posted by calgarywinning
Banks charge at least 2% fee + 1.10 when exchange is around 1.10% of real dollar value.
Wise is not accepted by Canadian banks, which is a form of monopoly. So You can't Wise US funds into your CDN bank US acct.
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The don't make it easy, but it is possible. I provided my Wise CAD banking details to Tangerine and Simplii, and I now have my Wise account set up as an external account on both. I can move money to and from Wise without any fees at all, as long as I keep it in CAD. It is basically a bank to bank transfer between my bank and Wise's Canadian partner bank (which was People's Trust or something like that).
Tangerine was easy - I just put the Wise account details in and had to verify two transactions of a few cents each. Done.
Simplii was more of a hassle. I had to get an original, signed, stamped letter from a "teller" at Wise. They happily obliged and mailed it to me, which I sent on to Simplii. They eventually added my Wise account as an external account as well.
You mention that yours is a USD account at a Canadian bank, so that might complicate things.