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Locked: [simplii] Get $50 when you send your first $100 global money transfer abroad

  • Last Updated:
  • May 29th, 2020 5:47 am
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Member
Aug 9, 2014
208 posts
24 upvotes
Mississauga, ON
So i have $100 in my Simplii account and I opened a transferwise account to transfer to.
Do i have to add open and link a USD bank account to the transferwise account?
Deal Addict
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Apr 2, 2010
1831 posts
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GTA
Hackz101 wrote: So i have $100 in my Simplii account and I opened a transferwise account to transfer to.
Do i have to add open and link a USD bank account to the transferwise account?
Not necessarily.
In Transferwise, you can have a USD Borderless account. This can receive the USD funds.
Then its up to you, you can convert them back to CAD within Transferwise and withdraw the funds. These all have fees so best to check but you should come out ahead regardless.
Deal Fanatic
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Jun 3, 2008
7097 posts
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The best deals on low/no incoming wire transfer fees appear to be countries where expats often send money home to.

My friend in Malaysia received my GMT / wire transfer at her bank without any fees. Amount was the same amount CIBC quoted.
Deal Guru
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Jul 17, 2008
10490 posts
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SoroSuub1 wrote: The best deals on low/no incoming wire transfer fees appear to be countries where expats often send money home to.

My friend in Malaysia received my GMT / wire transfer at her bank without any fees. Amount was the same amount CIBC quoted.
Beats my Euro account then. I get charged equivalent of $1.5
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Apr 2, 2010
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Hackz101 wrote: Do I still have to verify the USD account as mentioned here?

https://transferwise.com/ca/borderless/usd-account
Sorry, not sure about what you mean about verify.

What I do recall is you put in those bank account details and the funds are sent to that account.
Newbie
May 7, 2019
78 posts
129 upvotes
Oshawa, Ontario
I have a IBAN number but not a swift code.. which is why I couldn't send it.
[OP]
Member
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May 8, 2013
447 posts
432 upvotes
London
dayimziah wrote: I have a IBAN number but not a swift code.. which is why I couldn't send it.
U can actually just look that up...
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Apr 2, 2010
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ryansluman wrote: U can actually just look that up...
This!

I did this a long time ago but I do recall it is possible to figure out the details for the USD Borderless account. I just dont remember them or how I did it.
Member
May 19, 2017
279 posts
124 upvotes
If you're having a problem to generate the referral link, it's because you haven't accepted/agreed with the T&C which you can just trigger it by clicking "Send money now" button. Then, you can cancel and try to click the "Get referral link".
Deal Addict
Oct 12, 2005
1894 posts
289 upvotes
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deadice wrote: $16USD receive fee in my Wells Fargo US account. Kind of expected it but it still sucks, hopefully Simplii credits properly and I should still be up $50 based on 1.44 exchange rate. ($50+25=75-(16x1.44)=$51.96 profit.
So did you get charged for this incoming fee and is it for wires? They should be transferring via ACH.
Newbie
Dec 4, 2019
27 posts
108 upvotes
When do we get the bonus though? How long does it take after a successful transfer?
Deal Addict
Apr 21, 2009
1848 posts
1340 upvotes
Toronto
I made an overseas purchase two days ago for $120 and used this as they only accept bank transfer. Worked out great. Can't wait for the $50 to hit
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Sep 24, 2007
3802 posts
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Ontario
lg777 wrote: So did you get charged for this incoming fee and is it for wires? They should be transferring via ACH.
Definately came as a wire, here are my transactions in my wells fargo account:

Received $69.41USD from $100.00CDN sent from Simpli:
WT Fxxxxxxxxxxxxxxxxx CIBC /ORG=xxxx xxxx SRF# Fxxxxxxxxxxxx TRN#000000000000 RFB#

Wire charge $16.00USD:
WIRE TRANS SVC CHARGE - SEQUENCE: xxxxxxxxxxxxxxxxx SRF# Fxxxxxxxxxxxxxxxxxx TRN#xxxxxxxxxxxxxxx RFB#
Newbie
Nov 18, 2011
60 posts
22 upvotes
Toronto
martydxb wrote: Not necessarily.
In Transferwise, you can have a USD Borderless account. This can receive the USD funds.
Then its up to you, you can convert them back to CAD within Transferwise and withdraw the funds. These all have fees so best to check but you should come out ahead regardless.
Do I need to add $20 USD to receive USD funds - to set up USD Borderless account?

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