Personal Finance

Transfer USD money between Canadian Bank Accounts

  • Last Updated:
  • Aug 6th, 2020 5:53 pm
[OP]
Deal Addict
Feb 28, 2006
3439 posts
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Toronto

Transfer USD money between Canadian Bank Accounts

Are there any ways to transfer money for free between USD accounts at Canadian banks? ie. TD Bank USD to Scotiabank USD
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13 replies
Deal Fanatic
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Jan 31, 2006
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Toronto
Sprite_TM wrote: Are there any ways to transfer money for free between USD accounts at Canadian banks? ie. TD Bank USD to Scotiabank USD
What I do is open a Tangerine USD account, pull from RBC to Tangerine then days later push from Tangerine to TD
Jr. Member
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Dec 27, 2017
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cgtlky wrote: What I do is open a Tangerine USD account, pull from RBC to Tangerine then days later push from Tangerine to TD
Can you link Tangerine USD account directly to other USD account, say at TD? I was planning to open USD account at Tangerine, transfer money from TD and then close TD USD account. If I wanted to cash out USD from the said Tangerine account, can I do that any of the Scotiabank branches?
Sr. Member
Nov 22, 2012
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NS
cingulum wrote: Can you link Tangerine USD account directly to other USD account, say at TD? I was planning to open USD account at Tangerine, transfer money from TD and then close TD USD account. If I wanted to cash out USD from the said Tangerine account, can I do that any of the Scotiabank branches?
Yes, you can link Tangerine and TD USD accounts. I did this many years ago when I was exchanging small amounts of CAD to USD because Tangerine offers better exchange rates than TD.
No, you can't withdraw USD from your Tangerine account at Scotiabank. To withdraw USD in cash from Tangerine, you would have to visit one of their rare and mystical cafe's, if they ever open again.
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Oct 27, 2012
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jevonb wrote: To withdraw USD in cash from Tangerine, you would have to visit one of their rare and mystical cafe's, if they ever open again.
They ripped their ATMs out of their cafes late last year too. No way to take USD cash out of TNG, not even from the Scotiabank USD ATMs.
Deal Addict
Jan 21, 2018
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Or Hubert, also allows free online transfers of USD between linked USD accounts. Easier to link online than Tangerine, although they have started calling to verify every new account link created online.
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Jan 31, 2006
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cingulum wrote: Can you link Tangerine USD account directly to other USD account, say at TD? I was planning to open USD account at Tangerine, transfer money from TD and then close TD USD account. If I wanted to cash out USD from the said Tangerine account, can I do that any of the Scotiabank branches?
This is the reason, why I maintain my RBC USD$ account, my tangerine USD$ is just for promotion, after the promotion period I moved it back again to RBC, since I ca withdraw once a month without a fee.
jevonb wrote: Yes, you can link Tangerine and TD USD accounts. I did this many years ago when I was exchanging small amounts of CAD to USD because Tangerine offers better exchange rates than TD.
No, you can't withdraw USD from your Tangerine account at Scotiabank. To withdraw USD in cash from Tangerine, you would have to visit one of their rare and mystical cafe's, if they ever open again.
Sr. Member
Nov 22, 2012
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ozzie16 wrote: They ripped their ATMs out of their cafes late last year too. No way to take USD cash out of TNG, not even from the Scotiabank USD ATMs.
Good to know. What services did they offer at cafe's without ATM's?
Deal Addict
Oct 27, 2012
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jevonb wrote: Good to know. What services did they offer at cafe's without ATM's?
Tbh I have no idea. I think I have heard it's possible to get a replacement card on the spot at a cafe, but otherwise opening an account is still done through the same application, they just have reps that guide you through the process.
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jevonb wrote: Good to know. What services did they offer at cafe's without ATM's?
Bank drafts.
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Jan 21, 2018
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jevonb wrote: Good to know. What services did they offer at cafe's without ATM's?
For about a year Tangerine had a mobile unit set up in a trailer in the parking lot at the local shopping centre. As far as I could tell, the main purpose was to sign up new customers, although they also offered banking assistance for elderly or non-English-speaking (i.e., Chinese) customers. But no ATMs, and they did not do any cash business.
[OP]
Deal Addict
Feb 28, 2006
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Toronto
Scote64 wrote: Or Hubert, also allows free online transfers of USD between linked USD accounts. Easier to link online than Tangerine, although they have started calling to verify every new account link created online.
thank you for everyone's suggestions.

is hubert sort of like tangerine?

i may setup a tangerine USD account and do the pull & push
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Deal Addict
Jan 21, 2018
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Sprite_TM wrote: is hubert sort of like tangerine?
It is, in that it functions like an online bank. But Hubert Happy Savings is actually a division of Sunova Credit Union of Manitoba (Manitoba is a popular home for many national credit union operations because of favorable regulations there). Deposits are guaranteed by the Manitoba DGCM rather than the CDIC like the banks. DGCM has a better guarantee, but with a smaller base to bear the load if there were ever a widespread crisis.

Tangerine is an actual bank, operating under slightly different regulations than credit unions. There are some differences in the services offered.

But one very noticeable difference is that Hubert is headquartered in Selkirk, Manitoba, which must be about the friendliest town on earth because their customer service is great. Tangerine stinks by comparison - they were always a bit arrogant in their original incarnation as ING Bank, but things have gone downhill since Scotiabank took them over.

If I could make one suggestion to the national banks to improve their customer service, it would be to move the whole operation to Selkirk. :)

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