Anyone used PayPal?

[TimNDansMom]

Dan is expecting some money from the US and it's going to cost the sender too much to send via Western Union. PayPal says no fees for a personal account and money is deposited into a credit card or bank account. Dan doesn't have a credit card but has a bank account. Not sure how long this takes to set up and receive the money.

Anyone have experience with this or have another way of getting money quickly from the US with minimal fees? Thanks!

 

[rcomputer]

Paypal would only seem an option if the sender in the US has a paypal account - they will need to transmit money from their bank account registered with paypal to fund their paypal account - and then send it to you. You then need to register a Canadian bank account and pay 85c to withdraw the balance to you bank. Does not sound to timely.

I would expect the easiest way would be a money order - preferably in US$ (it is generally cheaper to convert $ here than in the US)

 

[TimNDansMom]

Thanks,

I'm assuming the sender has paypal since he suggested it. Is it that easy to have the funds transferred to a bank account (85c)? Do you have any idea how long all this takes? Have you had experience dealing with PayPal in situation similiar to this?

 

[rcomputer]

If he is already setup on his end you can setup everything on this end online (bank details) - it is setting up a credit card that takes a long time.

Although I have my Canada Trust account setup with paypal I have never done a withdrawal to it as I always seem to find something else to buy

The transfer within paypal will occur same day - to get from paypal to a Canadian bank account will take 4-6 business days

If you are going to WDW soon you could get the debit card and spend it that way

 

[TimNDansMom]

Thanks for the great info, rcomputer! That really helps!