Neteller ING DIRECT Canada
 

Do any Canadians here using Neteller (in US funds) have it linked to an ING Direct US dollar account?

My goal is to (i) move money away from Neteller into some sort of interest bearing account or investment, and (ii) keep the funds in US dollars, and (iii) avoid having to forward a cheque from Neteller or the Poker site to the bank.

Thanks

Re: Neteller ING DIRECT Canada
 

I live in the US, but I wanted to link Neteller to a higher yielding account.

Neteller told me that you cannot link a Neteller account to an internet-only bank. The CS rep said sometimes it goes through, and sometimes it doesn't. But, if they're aware of it, they won't do it. He said that it was to help prevent fraud, and that your Neteller account should be linked to a B&M bank.

He also said that this was a restriction on their end, and nothing the bank prevents (my take was that it doesn't matter whether the bank can do ACH or checking transactions). I asked specifically about ING, and he said it probably wouldn't work.

I don't know how accurate that is, but I decided to leave my current setup in place, and just move funds between my checking account and an online bank myself. A little more hassle, but not that big of a deal I guess.

Re: Neteller ING DIRECT Canada
 

Thanks for the info. The problem here is that I can't seem to get a US dollar bank account with B&M bank in Canada without paying outrageous fees.

How are Canadians dealing with their poker money? Since I travel to the US at least twice a year, I'd rather keep it in US funds, and since it's a good chunk of change, I'd like to earn a little interest on it.

Re: Neteller ING DIRECT Canada
 

The loonie is consistently climbing to new highs. Better to keep most of your BR in Canadian dollars, you make money by just letting it sit in our own currency.

Prediction: Canadian dollar to be at par with the U.S. greenback as soon as oil hits 90 bucks sometime in 2007.

Re: Neteller ING DIRECT Canada
 

I have been using IGM pay from my party account to ING, works like a charm evne showed up in 1 business day last time.

Re: Neteller ING DIRECT Canada
 

[ QUOTE ]
How are Canadians dealing with their poker money? Since I travel to the US at least twice a year, I'd rather keep it in US funds, and since it's a good chunk of change, I'd like to earn a little interest on it.

[/ QUOTE ]

I don't cash out US$ - CAD through Neteller. Party Poker has a much better conversion rate. It's been about a penny higher than the going rate US$-CAD. Thus, way higher than what Neteller pays (going rate - 1.9% or whatever).

Once I get it from Party, it goes into my Canadian dollar ING account. That's the best I've come up with. But I don't have a real need for US$ once my money's come off the net.

The question that occurs to me is: Would you be saving money paying the US$ account fees 12 months a year? Or would the twice-yearly conversion fees for a lump sum be cheaper?

Re: Neteller ING DIRECT Canada
 

Also in the same boat as you chapstick

Re: Neteller ING DIRECT Canada
 

Don't they put like week long holds on deposits though?

Re: Neteller ING DIRECT Canada
 

[ QUOTE ]
Do any Canadians here using Neteller (in US funds) have it linked to an ING Direct US dollar account?

My goal is to (i) move money away from Neteller into some sort of interest bearing account or investment, and (ii) keep the funds in US dollars, and (iii) avoid having to forward a cheque from Neteller or the Poker site to the bank.

Thanks

[/ QUOTE ]

Neteller won't transfer US dollars to any bank in Canada.
I set up a US dollar acct at a major Canadian bank in December with the intention of transferring money from Neteller to the account but I was informed by Neteller that they can't/won't do it.

Re: Neteller ING DIRECT Canada
 

American Bank has an online prescence as well as brick and mortar. I have used them only as an online bank though. Maybe it will work. The checking account pays decent interest. www.pcbanker.com

Re: Neteller ING DIRECT Canada
 

[ QUOTE ]
Thanks for the info. The problem here is that I can't seem to get a US dollar bank account with B&M bank in Canada without paying outrageous fees.

How are Canadians dealing with their poker money? Since I travel to the US at least twice a year, I'd rather keep it in US funds, and since it's a good chunk of change, I'd like to earn a little interest on it.

[/ QUOTE ]


i set up my Neteller account in us dollars (so don't get interest but i don't have a large br).

i also managed to get my royal bank (can dollars) checking account hooked up with my neteller account.

since, i was unable to do this at first (as i was told you need a U.S. address to hook up your account with a U.S. dollars account) i did the following:

-open neteller account

-hook up/verify your bank account with them (takes a few days)

-once account is verified tell them you want to change the currency to US dollars....in my case they opened a new one and closed the old one

-initially the bank stuff wasn't transfered but after a phone call it was fine


call them on the phone as the customer service is truly excellent (also instead of waiting on hold you can have them call you back). it took me 4 phone calls but since i was able to get through immediately most times it didn't take that long.

now all poker money remains in us dollars.

i have just got the neteller bank card for withdrawals in canada or us.

cheers,
sean

Re: Neteller ING DIRECT Canada
 

Chapstick,

There's really no easy way to do what you're asking. Believe me I've checked. I have a checking & savings account in a US bank and the same in a Canadian bank. But since I actually reside in Canada now I can't get my online money to my US account. I've found it's easiest just to do an EFT between the banks whenever I desire to do so with any reasonable amount. You could check around to compare different Canadian USD account fees and do that if you find something reasonable. For me though I just keep the US acct's now to cover my taxes. It's sort of an insurance policy for me to keep tax money in both rather than betting on the exchange. Although frankly I'm glad I transferred most of my US acct to Canadian when I did b/c I've made money as the exchange rate has steadily gotten better for the CAD. I honestly don't expect that to change with the oil industry still strong. But you never know for sure. Anyway, the Canadian banks have USD acct's just for people like you. But a lot of people I know here (Canadians) that travel to the US frequently find it less expensive and much more convenient to just open a US account in the US. You should be able to do this if you desire with a passport and other basic forms of ID (driver's license, etc.). If you do that it's your money and you could move back and forth I'm assuming between there and an interest bearing ING USD account.

But Neteller/FirePay have strict rules against transferring money to an account for a Canadian that isn't in CAD. I can't even do what your asking as a US citizen.

BTW Party >>> CAD account is the way to go. For some reason Party always seems to give a favorable exchange rate.

Chief