List of eWallets for Canadians

[savvy76]

[ QUOTE ]
Alright so my bank sucks, doesn't have a SWIFT code, and requires me to use Scotia Banks SWIFT code, then they issue a bank draft to my bank.

Obviously a lot of hassle which I don't want to go through. I'm an affiliate too so I make frequent withdrawals.

So I figure I will sign up with a new bank. I won't be using it for internet banking or anything like that - the one I am with has hot rates so I stick with them. But it'll be to accept withdrawals from moneybookers et al, then just use my debit card to withdraw. I live downtown Kingston and have most banks at my disposal(Bank of Montreal, CIBC, Scotia, TD etc) so any recommendations would be appreciated.

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I really don't think it matters much what bank you use, I'd be more concerned with the level of account activity you plan on. Figure out the number of deposits/withdrawals and find the account plan that's cheapest.

I use Scotia, no real loyalty, I just ended up there. They made the wire transfer process easy to MB, I can't speak for anywhere else.

You might also want to consider the credit cards that are accepted at gaming sites to help you choose the bank. If RBC, as mentioned earlier, doesn't accept gaming CC transactions (and you want a CC and account at the same place for convenience sake, that is) then you may want to look at the other ones.

So that's my really long winded explanation for; go with the cheapest and most convenient. lol

Hope it was helpful.

[Alexos]

So which bank is the cheapest for account activity of 1 wire transaction per month from moneybookers, c2p, or epasseporte?

Would be really helpful if somebody already searched this info, thx!!

[savvy76]

[ QUOTE ]
So which bank is the cheapest for account activity of 1 wire transaction per month from moneybookers, c2p, or epasseporte?

Would be really helpful if somebody already searched this info, thx!!

[/ QUOTE ]

There are obviously a lot of other things to consider (exchange rates, for example) but in terms of basic banking here are how the majors stack up (in brief).

Bank of Nova Scotia: $3.95/mo for 12 transactions
Royal Bank: Pay as you go chequing: No account fee, $1.00 for each assisted transaction, $0.50 for each automated transaction.
TD Canada Trust: $3.95/mo for 10 transactions
Bank of Montreal: $4.00/mo for 10 transactions
National Bank: $5.50/mo for 20 transactions (There may be a cheaper option but their online system is difficult to navigate for information)

There are also some accounts that offer free banking if you keep your account balance above a certain amount. If you plan on doing that, your main issue, I believe, will be the exchange rate that you get from each bank.

The Bank of Canada rate yesterday was:
19/04/07 20/04/07
Can/US closing 1.1295 1.1230

and here's what the banks gave:
Scotia 1.14 (pays) 1.10(receives)
RBC 1.1444 (pays) 1.10(receives)
TD 1.1468(pays) 1.103(receives)
National (not sure, awful website)
BMO 1.13(pays) 1.11 (recieves)

I hope I got that right, frankly I just go with whatever my bank offers.

[Alexos]

Thx a lot!

[savvy76]

[ QUOTE ]
Thx a lot!

[/ QUOTE ]

Np, it's good to know the options.

I'm sure there are a bunch of really good credit unions and trusts out there with great rates but people will have to do their own research on those. There are far too many regional ones to consider.

[savvy76]

I forgot to mention CIBC in my last post (why wouldn't a Canadian forget that? lol)

It's worth mentioning, I think, that I only looked a regular plans but students and seniors can probably get cheaper account rates.

updated list:
Bank of Nova Scotia: $3.95/mo for 12 transactions (incl. 4 teller assisted) or $3.95/mo. for 15 self service transactions (no fee if balance over $2000).
Royal Bank: Pay as you go chequing: No account fee, $1.00 for each assisted transaction, $0.50 for each automated transaction.
TD Canada Trust: $3.95/mo for 10 transactions (fee waived if balance over $1000)
Bank of Montreal: $4.00/mo for 10 transactions (fee waived if balance over $1500)
National Bank: $5.50/mo for 20 transactions (There may be a cheaper option but their online system is difficult to navigate for information)
CIBC: $3.90 for 10 transactions (fee waived if balance over $1000)

[black knight]

I called C2Pay last night about debit card fees (I'm a canadian). She said it was a 2% fee up to $15 with NO maximum that you can withdraw at one time up to 10k, IIRC. You may be able to have that increased, I'm not sure.

So I called my bank (a local credit union), and they said that as long as I had an account with them, and went in with ID, I could go to a teller and take out as much as I wanted each time (only limited by C2Pay I suppose).

Question: I've ordered my debit card, how long is it taking people to receive them?

2nd Question: How long does it take for a prima skin to w/d to C2Pay?

thnx

[cardman]

[ QUOTE ]

Bank of Nova Scotia: $3.95/mo for 12 transactions
Royal Bank: Pay as you go chequing: No account fee, $1.00 for each assisted transaction, $0.50 for each automated transaction.
TD Canada Trust: $3.95/mo for 10 transactions
Bank of Montreal: $4.00/mo for 10 transactions
National Bank: $5.50/mo for 20 transactions (There may be a cheaper option but their online system is difficult to navigate for information)



[/ QUOTE ]

Do you have a list for what each bank charges to receive and send international bank wires? I think the transaction fees there aren't referring to international bank wires.

I would avoid Royal Bank for international bank wires, whether incoming or outgoing. Very expensive.

[Lyrrad]

I've noticed from TD's updated agreement that TD Visa charges a cash advance fee if you use it to purchase from gambling sites. Does anyone know if the same occurs with a Citi Mastercard? I'm used to paying no fees when reloading and withdrawing with Pokerstars, and I don't want to start now. I'm hoping that eChecks come back to Pokerstars before the next reload bonus.

[lefty rosen]

Not as of last month, I routinely buy-in for bonuses with my Citi card. I may stop this now as I could get a balance because of withdrawal problems could leave a balance at the end of a month.