Is there any Canadian banks that do not charge incoming fund transaction fees?
Sep 16th 2013, 3:07 pm
#16
Weegie in Calgary
Joined: Dec 2012
Location: Calgary
Posts: 810
Re: Is there any Canadian banks that do not charge incoming fund transaction fees?
RBC charged me $15 the first time I transferred over $3000 then when I transferred over $10000 there was no charge?
Sep 16th 2013, 7:09 pm
#17
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Joined: Jun 2012
Location: Vancouver, BC
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Re: Is there any Canadian banks that do not charge incoming fund transaction fees?
I had a discussion about this with my banking officer at Scotia just yesterday. I recently made two transfers (by telephone) from Barclays to my Scotia account. I'd instructed Barclays to pay all the charges at their end. I still got stung for two $15 charges at this end. According to the banker, all Canadian banks do this.
Curiously, I get paid by electronic transfer from the UK. Scotia never charges me for that. My employer instructs Barclays to pay all the charges at their end. Whether Scotia is simply not imposing a charge or the charge is being picked up by my employer, I do not know.
Curiously, I get paid by electronic transfer from the UK. Scotia never charges me for that. My employer instructs Barclays to pay all the charges at their end. Whether Scotia is simply not imposing a charge or the charge is being picked up by my employer, I do not know.
Sep 16th 2013, 7:25 pm
#18
Joined: Sep 2008
Posts: 12,830
Re: Is there any Canadian banks that do not charge incoming fund transaction fees?
I also get charged $15 every time the UK company pays me from Barclays into my ScotiaBank account. They cover all the costs, but it looks like only the costs at the English end get covered. I recently asked them for a check. I deposited it in my ScotiaBank account, but they said they need to hold it for 30(!!!) days. I think I'd rather pay the $15 then.
Sep 16th 2013, 10:50 pm
#19
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Location: Hubley, Nova Scotia (from Scotland via Yorkshire and London)
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Re: Is there any Canadian banks that do not charge incoming fund transaction fees?
Are you well known to your bank branch? As Aviator says, once you are known (and known not to bounce cheques) they have discretion not to hold, but you are still ultimately responsible if one bounces. Also if the payer is a known reliable source, they usually don't hold. But they can hold cheques until they clear - the more unusual the cheque the more likely it is to be held.
Chat to your tellers - make sure they remember you as a reliable and regular depositor of foreign cheques. I guess this is easier in a small town than a big city.
Sep 16th 2013, 11:51 pm
#20
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Re: Is there any Canadian banks that do not charge incoming fund transaction fees?
No holds for me with Scotiabank.
Are you well known to your bank branch? As Aviator says, once you are known (and known not to bounce cheques) they have discretion not to hold, but you are still ultimately responsible if one bounces. Also if the payer is a known reliable source, they usually don't hold. But they can hold cheques until they clear - the more unusual the cheque the more likely it is to be held.
Chat to your tellers - make sure they remember you as a reliable and regular depositor of foreign cheques. I guess this is easier in a small town than a big city.
Are you well known to your bank branch? As Aviator says, once you are known (and known not to bounce cheques) they have discretion not to hold, but you are still ultimately responsible if one bounces. Also if the payer is a known reliable source, they usually don't hold. But they can hold cheques until they clear - the more unusual the cheque the more likely it is to be held.
Chat to your tellers - make sure they remember you as a reliable and regular depositor of foreign cheques. I guess this is easier in a small town than a big city.
The UK company that pays me is a massive international company with branches worldwide, including Canada.
I guess my bank just doesn't like me!
Sep 17th 2013, 5:11 am
#21
Joined: Sep 2008
Posts: 12,830
Re: Is there any Canadian banks that do not charge incoming fund transaction fees?
No holds for me with Scotiabank.
Are you well known to your bank branch? As Aviator says, once you are known (and known not to bounce cheques) they have discretion not to hold, but you are still ultimately responsible if one bounces. Also if the payer is a known reliable source, they usually don't hold. But they can hold cheques until they clear - the more unusual the cheque the more likely it is to be held.
Chat to your tellers - make sure they remember you as a reliable and regular depositor of foreign cheques. I guess this is easier in a small town than a big city.
Are you well known to your bank branch? As Aviator says, once you are known (and known not to bounce cheques) they have discretion not to hold, but you are still ultimately responsible if one bounces. Also if the payer is a known reliable source, they usually don't hold. But they can hold cheques until they clear - the more unusual the cheque the more likely it is to be held.
Chat to your tellers - make sure they remember you as a reliable and regular depositor of foreign cheques. I guess this is easier in a small town than a big city.
Sep 17th 2013, 10:25 pm
#22
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Joined: Jun 2009
Location: Hubley, Nova Scotia (from Scotland via Yorkshire and London)
Posts: 1,190
Re: Is there any Canadian banks that do not charge incoming fund transaction fees?
Individual teller hates everyone?!
That's the trouble with discretionary policies - open to different interpretation by different people.
Unusual for pay checks to be regularly held if the paying firm has good history and is well known - maybe get the employees concerned to have a word with the branch supervisor.
That's the trouble with discretionary policies - open to different interpretation by different people.
Unusual for pay checks to be regularly held if the paying firm has good history and is well known - maybe get the employees concerned to have a word with the branch supervisor.
Sep 18th 2013, 6:18 pm
#23
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Location: Ottawa, Canada
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Re: Is there any Canadian banks that do not charge incoming fund transaction fees?
Been receiving UK Government pension since 1995 with TD no fee.
Sep 19th 2013, 8:41 pm
#24
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Joined: Jun 2012
Location: Vancouver, BC
Posts: 850
Re: Is there any Canadian banks that do not charge incoming fund transaction fees?
So my last check got cleared in a day. Yay! Looks like they are starting to like me.
Sep 25th 2013, 4:46 pm
#25
Forum Regular
Joined: Jan 2009
Location: Picton, ON
Posts: 194
Re: Is there any Canadian banks that do not charge incoming fund transaction fees?
I use PC Financial who charge me nothing when I transfer in CAD from abroad.
