Neteller ING DIRECT Canada

[chapstick]

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

[Disconnected]

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.

[chapstick]

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.

[mephisto]

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.

[StacysMom]

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.

[ChuckyB]

[ 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?

[PatInTheHat]

Also in the same boat as you chapstick

[DK47]

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

[Senk]

[ 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.

[maxtower]

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