Personal Finance

Send US dollar to Zenbanx account

  • Last Updated:
  • Oct 4th, 2016 11:29 am
Newbie
Sep 29, 2016
20 posts
2 upvotes
edmonton

Send US dollar to Zenbanx account

I plan to close my TD bank account recently, and I got to know the Zenbanx provide 1% saving rate for US dollar. But I did not find the related instructions on how to transfer US dollars to the Zenbanx account. Does anyone have any idea?
18 replies
Deal Fanatic
Oct 26, 2008
7022 posts
2907 upvotes
Victoria, BC
Unless anything has changed recently, you can only make Cdn. $ deposits to Zenbanx. I think it is a regulatory thing.

If you open an account you could try and have your TD USD account as one of your linked accounts to transfer funds but I don't think it would let you .

To confirm the link Zenbanx would send 2 nominal deposits of a few cents Cdn. to your TD USD account - so it would probably fail there anyway.

See: can-you-deposit-usd-cash-into-zenbanx-a ... m-1773391/
Deal Fanatic
User avatar
Jan 31, 2006
8541 posts
2655 upvotes
Toronto
Not possible on Zenbanx, but you can open an USD$ on Tangerine and send it there.
Deal Fanatic
May 13, 2005
5148 posts
5848 upvotes
Montreal
zej123 wrote: I plan to close my TD bank account recently, and I got to know the Zenbanx provide 1% saving rate for US dollar. But I did not find the related instructions on how to transfer US dollars to the Zenbanx account. Does anyone have any idea?
You could log in to your ZenBanx account. Click on your account info. There is a Incoming Wire Info. I believe you could use the USD Wire Instructions to wire USD money to your ZenBanx.

However, you will have to pay wire fee...
https://www.zenbanx.com/DUCA/dms/feeschedule.pdf

Note: Don't know if there is any exchange involve or it only wire USD money to your ZenBanx USD position. You better call and ask ZenBanx.
Member
Dec 29, 2007
487 posts
289 upvotes
Caution before transferring money to ZenBanx: interest on USD was incorrectly calculated for me for the months of February, March and August.

I noticed because in July I received $0.43 of interest, but in August I received $0.41. Both July and August have 31 days and my balance remained the same - no deposits or withdrawals were made. The interest rate was at 1.00% for both months.

After two weeks of investigation, ZenBanx credited me back $0.03 for February, $0.01 for March and $0.02 for August.

Class action lawsuit anyone? LOL
Newbie
Sep 29, 2016
20 posts
2 upvotes
edmonton
macnut wrote: Unless anything has changed recently, you can only make Cdn. $ deposits to Zenbanx. I think it is a regulatory thing.

If you open an account you could try and have your TD USD account as one of your linked accounts to transfer funds but I don't think it would let you .

To confirm the link Zenbanx would send 2 nominal deposits of a few cents Cdn. to your TD USD account - so it would probably fail there anyway.

See: can-you-deposit-usd-cash-into-zenbanx-a ... m-1773391/
Well, thanks. Seemingly does not work. I will close the stupid TD account though.
Newbie
Sep 29, 2016
20 posts
2 upvotes
edmonton
cgtlky wrote: Not possible on Zenbanx, but you can open an USD$ on Tangerine and send it there.
Well, I have planned to open accounts with Tangerine. But I am not sure if there is great deals right now?
Newbie
Sep 29, 2016
20 posts
2 upvotes
edmonton
X360 wrote:
zej123 wrote: I plan to close my TD bank account recently, and I got to know the Zenbanx provide 1% saving rate for US dollar. But I did not find the related instructions on how to transfer US dollars to the Zenbanx account. Does anyone have any idea?
You could log in to your ZenBanx account. Click on your account info. There is a Incoming Wire Info. I believe you could use the USD Wire Instructions to wire USD money to your ZenBanx.

However, you will have to pay wire fee...
https://www.zenbanx.com/DUCA/dms/feeschedule.pdf

Note: Don't know if there is any exchange involve or it only wire USD money to your ZenBanx USD position. You better call and ask ZenBanx.
Thanks, X360. It costs much more money than I expect. I will try to figure out some other banks or deals.
Newbie
Sep 29, 2016
20 posts
2 upvotes
edmonton
noproblem wrote: Caution before transferring money to ZenBanx: interest on USD was incorrectly calculated for me for the months of February, March and August.

I noticed because in July I received $0.43 of interest, but in August I received $0.41. Both July and August have 31 days and my balance remained the same - no deposits or withdrawals were made. The interest rate was at 1.00% for both months.

After two weeks of investigation, ZenBanx credited me back $0.03 for February, $0.01 for March and $0.02 for August.

Class action lawsuit anyone? LOL
Thanks, noproblem. Well, I am more interested in how you transfer your USD to your Zenbanx account and how much it cost? But if you find something wrong, it would be better to argue with their representative through phone.
Member
Dec 29, 2007
487 posts
289 upvotes
I transferred CAD into Zenbanx and then translated to USD. I don't have experience in transferring USD from an external party into Zenbanx. Sorry!
Newbie
Sep 29, 2016
20 posts
2 upvotes
edmonton
noproblem wrote: I transferred CAD into Zenbanx and then translated to USD. I don't have experience in transferring USD from an external party into Zenbanx. Sorry!
No problem. Thx anyway.
Newbie
Sep 29, 2016
20 posts
2 upvotes
edmonton
X360 wrote:
zej123 wrote: Thanks, X360. It costs much more money than I expect. I will try to figure out some other banks or deals.
If you only want to find bank offer 1% interest then you could try to open a real US bank instead...

For example, Alliant Credit Union
us-bank-account-credit-card-canadians-9 ... #p23387475
Well, it is interesting. But I am not sure if this account also available to Canada users.
Deal Fanatic
May 13, 2005
5148 posts
5848 upvotes
Montreal
zej123 wrote:
X360 wrote:
zej123 wrote: Thanks, X360. It costs much more money than I expect. I will try to figure out some other banks or deals.
If you only want to find bank offer 1% interest then you could try to open a real US bank instead...

For example, Alliant Credit Union
us-bank-account-credit-card-canadians-9 ... #p23387475
Well, it is interesting. But I am not sure if this account also available to Canada users.
Yes, it is... Just read the instruction... a lot of RFDers and I already have this account...
Deal Fanatic
Aug 21, 2007
6055 posts
853 upvotes
Markham
a bit off topic, but outside of withdrawing via ATM in the US, is there any way to get USD OUT of the zenbanx account into somewhere else: paypal, or other USD account etc
Deal Fanatic
May 13, 2005
5148 posts
5848 upvotes
Montreal
adeel wrote: a bit off topic, but outside of withdrawing via ATM in the US, is there any way to get USD OUT of the zenbanx account into somewhere else: paypal, or other USD account etc
Don't know if we could use Send Money (cost $5.95) to send ZenBanx USD money to our real US bank account work or not.

Otherwise you could try outgoing wire. However, it will cost like $30 fee lol...

https://www.zenbanx.com/DUCA/dms/feeschedule.pdf
Jr. Member
User avatar
Jul 22, 2015
163 posts
47 upvotes
Toronto, ON
zej123 wrote: I plan to close my TD bank account recently, and I got to know the Zenbanx provide 1% saving rate for US dollar. But I did not find the related instructions on how to transfer US dollars to the Zenbanx account. Does anyone have any idea?
Hi, You may initiate an incoming wire to your Zenbanx Canada account. Incoming wire instructions can be found on "Incoming Wire Info" under My Info. Please select instruction based on the currency you plan to wire. For assistance, please reach us at ask@zenbanx.com or give us a call at 877-936-2269 M-F 9AM-8PM ET. Thanks.
Jr. Member
User avatar
Jul 22, 2015
163 posts
47 upvotes
Toronto, ON
adeel wrote: a bit off topic, but outside of withdrawing via ATM in the US, is there any way to get USD OUT of the zenbanx account into somewhere else: paypal, or other USD account etc
Hi, you may utilize our Send Money feature to transfer to a U.S. financial institution checking account. For fees and limits, please see our Fee Schedule available at the bottom of our website: https://www.zenbanx.com/dms-can/FeeSchedule.pdf . For questions, email us at ask@zenbanx.com or give us a call at 877-936-2269 M-F 9AM-8PM ET. Thanks.
Jr. Member
User avatar
Jul 22, 2015
163 posts
47 upvotes
Toronto, ON
X360 wrote:
adeel wrote: a bit off topic, but outside of withdrawing via ATM in the US, is there any way to get USD OUT of the zenbanx account into somewhere else: paypal, or other USD account etc
Don't know if we could use Send Money (cost $5.95) to send ZenBanx USD money to our real US bank account work or not.

Otherwise you could try outgoing wire. However, it will cost like $30 fee lol...

https://www.zenbanx.com/DUCA/dms/feeschedule.pdf
Hi, you may utilize our Send Money feature to transfer to a U.S. financial institution checking account. For fees and limits, please see our Fee Schedule available at the bottom of our website: https://www.zenbanx.com/dms-can/FeeSchedule.pdf . For questions, email us at ask@zenbanx.com or give us a call at 877-936-2269 M-F 9AM-8PM ET. Thanks.

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