Discussions

Do you use it? How reliable and safe is it? Wanting to transfer money from Canada to USA. Thanks

Sending money or buying something?

To a relative living in the USA.

I've been using it for on line purchases for years. It's safe. If you never receive the item it's likely they will refund you. Just don't let someone (if you don't trust them) convince you to send money as opposed to pay for a purchase because you don't have the same protection.

Instead of getting a money order at the bank, I thought this might be a better and quicker way to send money to family living in the USA.

Easiest and best way to send funds to the US.

Just be aware that Paypal have their own set of exchange and fee rates for these types of transactions . I can transfer with my online bank which in most cases is the cheaper option. I have used Paypal for over 800 items on eBay over the last 25 yrs never had an issue the odd transfer too

I've never used this for anything but checking currency values.  
https://www.xe.com/send-money/

I have found that paypal has too many fees and a poor exchange rate. Then again, so do some of the banks and credit cards. Look up transferwise (now called wise). They are perfect for family members, give very very close to the bank of Canada exchange rate, and have a very low fee. You do need their full banking information in order to send money.  
One of my co-workers wanted to be able to move money to her son going to university in Minot. I told her about transferwise and she used nothing but that from then on.  
It does take a day or two for the money to show at the other end, but then again paypal can also take some time, especially on international transfers. I have used it for several years now and have saved hundreds over paypal or other methods.

Will look into Wise and am also considering an e transfer.

Just saw your reply about doing an etransfer. In the US their banks will not accept an etransfer as they do up here. So unless your fam is depositing into a Canadian bank or credit Union they won’t be able to accept the etransfer. I had a friend from up here send me one (had no idea what an etransfer was at the time lol) while I was living down there and learned the hard way it was a no go. I use PayPal to send payment to people in the US, but I use my US credit card to do this so the fee is minimal (PayPal has cheaper fees than other options I’ve looked at). Not sure what their exchange rates are like…but would guess they’re similar to what a bank will charge you….but don’t quote me on that. I would talk to your bank or credit union here and see about a US funds account if you’re going to be sending money on a semi regular basis. Then you can use PayPal to send money from that account avoiding the PayPal exchange rate since it’s already in US funds. You also avoid any “foreign transaction fees” that your credit card might change…found out my card does that on top of the exchange rate which is a pain in my a$$ for subs:criptions that are only payable in US funds. Your other option is as someone else mentioned, to get a money order in US funds and mail it down…this would take longer to get to your fam (Canada post is slow af and getting anywhere in the US can take a couple weeks minimum or at least that’s been my experience mailing cards to Colorado) so if time is a factor PayPal or wire transfer directly to their account may be the best option regardless of fees and exchange rates. Best of luck!

We usually PayPal mainly for buying and selling horses to the states as it is easy to use and fairly quick especially for larger amounts. If you are sending or receiving larger amounts on PayPal they will have you verify your identity to confirm that you are aware of the funds and that there is nothing dishonest or illegal (Ie fraud) going on in your PayPal account. It is a pain but I have only had it happen once and have been good ever since. It does take a few days to withdraw the funds from your PayPal account into your bank account so if they are needing the funds immediately it may be best to go directly to your bank with their banking info and have the bank do the transfer for you. As others have mentioned you also get a better exchange rate through the bank as well.  
 
If you are paying for goods or services from an unknown person I recommend NOT sending the funds as "Friends and Family" as you have no protection if the seller is ripping you off. If you pay through goods and services and the seller fails to comply with their end of the deal you can dispute through PayPal and PayPal will get you your money back.  
 
You can not send etransfers to the states unfortunately. There is also usually a limit on the amount you can send in an etransfer at once and per day.  
 
Overall we are extremely grateful for PayPal and rely on it greatly for our farm business. Just make sure you keep an eye on your account regularly to make sure nothing has been compromised.

used paypal over 500 times for USA purchase and sales and never had an issue. For purchases in USD I do not use their exchange rate, I change the default to bill in original currency and use a credit card that charges only the exchange but no conversion fees. I have used paypal for both buying and selling. I have never given and doubt I ever will give paypal access to my bank account, but they do have access to my credit card.  
I use paypal which charges my credit card anytime it is an option for online purchases as I feel it gives me an extra layer of protection