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-   -   This is how to add a US Dollar account of Canadian Bank to Paypal (https://www.aspkin.com/forums/subscriber-discussions/15088-how-add-us-dollar-account-canadian-bank-paypal.html)

suza 12-07-2009 04:27 PM

This is how to add a US Dollar account of Canadian Bank to Paypal
 
I’d like to share this Information here, hopefuly i twill help.
Opening a US Dollars account with a Canadian based Bank Like RBC is simple, but add it to Paypal and verify it may need some tricks to know as I leaned from my last experience.
I already own 1 Check account and 2 Savings accounts with RBC, last days I opened a Personal US Dollar account inorder to use it with a New PP account. So I went and added the bank account informations as the following :

Country : Canada
Bank Name : Royal Bank of Canada
Account type : Checking
Bank Transit Name : (I put the same transit I have with my other RBC accounts)
Institution Number : ###
Account Number : #######

Then I clicked to confirm and was waiting for PP deposits, but nothing happened, after 5 days, I received an Email from PP saying the Bank account is INCORRECT.

After a search on the web I knew that the right way to use a US$ RBC (Or other Canadian Bank) account is the following :

1. In the Add a Bank Account page, select “United States” as Country and type in “Royal Bank of Canada” as the Bank Name.

2. Enter the 9-digit routing number exactly as suggested by the graphic. Royal Bank’s routing number is “026004093″.

3.Since the trick is to get the account number correct, ignore the example suggested by the graphic. Instead, enter the five-digit transit number of your account followed by your actual account number. You can also get the exact sequence of numbers (transit number followed by account number) from your monthly statement or online.

4.Re-enter the account number and click Continue. Wait for PayPal to make two small deposits into your bank account and then confirm that you have added the bank account successfully in PayPal by entering how much was deposited.


I followed the steps above, and got the account Verified!! I tried it with a second US$ RBC account, and it worked again.;)

shipill 01-02-2010 01:06 AM

canadian paypal or US paypal ?

Burning 01-02-2010 07:41 PM

This is useful when using with amazon since you need to have a usa bank on amazon.com

s7evin 01-11-2010 11:31 PM

Quote:

Originally Posted by shipill (Post 117481)
canadian paypal or US paypal ?

I want to know too.

suza 01-17-2010 02:15 PM

Quote:

Originally Posted by s7evin (Post 119016)
I want to know too.

This is for a Canadian PP

ekoez 08-24-2010 09:47 PM

So after using this method, am I able to both add funds to my PayPal account in US Dollars from the US Dollar Bank Account and also withdraw money into my US Dollar Canadian Bank Account from PayPal in US Dollars?

JEM 09-07-2010 04:39 PM

What is the advantage of having USD$ account
 
I know about the USd accounts offered at rbc , however not sure what the advantage would be to you to have one, as opposed to a canadian funds account?

would it work for Amazon???

Burning 09-09-2010 03:12 PM

Quote:

Originally Posted by JEM (Post 164483)
I know about the USd accounts offered at rbc , however not sure what the advantage would be to you to have one, as opposed to a canadian funds account?

would it work for Amazon???

The point of a USD bank account is to avoid the paypal conversion fee if you withdraw USD into your CAD bank account.

Also, Amazon USA require you to have a USD account...

rsot 09-09-2010 03:32 PM

Exactly, Burning, exactly. The conversion kills all across the board...

JEM 09-09-2010 10:59 PM

Quote:

Originally Posted by Burning (Post 164947)
The point of a USD bank account is to avoid the paypal conversion fee if you withdraw USD into your CAD bank account.

Also, Amazon USA require you to have a USD account...

would you not just get burned by the bank rate conversion instead of the paypal one - or is the bank's better??

Nice to know it can be used for Amazon too- I got a BOA account back then for Amazon

Burning 09-10-2010 07:45 PM

Quote:

Originally Posted by JEM (Post 165034)
would you not just get burned by the bank rate conversion instead of the paypal one - or is the bank's better??

Nice to know it can be used for Amazon too- I got a BOA account back then for Amazon

THATS THE WHOLE POINT OF A USD ACCCOUNT!

If the account is in USD, then you won't have to pay the hungry banks or paypal...

By having a USD bank account, your helping paypal and the banks make less profit...

alikayani 09-30-2012 10:26 AM

Yesterday I opened an USD saving account at BMO , since then I have tried countless time to add it with my paypal but it's getting denied , as suggested above I selected country USA then I am putting bmo rounting no 000106259 then account no ..... but it's keep getting denied that this is not a rounting no of USA account , what should I do , please help !

BiN4RY 09-30-2012 12:56 PM

That's because BMO doesn't have a US division to begin with. The "routing" number you provided isn't a routing number at all, it's merely the institution number and a transit number concatenated into one string.
RBC is the only bank that works with this method where their USD accounts are found in the same database within the oversea divisions.

rsot 10-01-2012 04:16 AM

@BiN4RY, actually BMO does have a US division now...but it owns Harris Bank. Very nice bank - worth looking into - I recommend :thumb:


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