Originally Posted by John123456

Since discovering Transferwise, nowadays called just Wise, I have never looked back when transfering funds between countries,

Originally Posted by Twitcher1958

The original question regards transferring money between 2 personal Canadian accounts which can’t be done in the same way as the UK. Wise offers a great service, as you know and is widely recommended on BE, but for inter country transfers.

Originally Posted by MidAtlantic

Though not promoted for this purpose, I think the Wise multi-currency account would work for this.

Originally Posted by Twitcher1958

Interesting! I hadn’t thought of it that way but can see your logic. Does it work or are you suggesting there shouldn’t be a reason it doesn’t?

Originally Posted by dbd33

I have two corporate and multiple personal accounts all with the TD (as an aside, they're not able to stop the paper statements for one of the accounts despite repeated requests and charge $2 for sending each of them). All transfers between corporate and personal require an e-transfer ($2.50). There's the option to pay bills, such as HST, by etransfer, another $2.50. etransfers between the TD and other banks take 24 hours to clear. Wire transfers are quicker, but more expensive, however the TD requires the physical address of the target bank branch and, in many cases, that doesn't exist. Cheques deposited at the machine take two weeks to clear so it's better to queue for the counter (if you can find a TD that's open),

Really, it's horse and cart banking, very dated stuff. Canadians say their banks were clever in not getting caught up in the junk bond mortgage bubble but I suspect the idea of junk bond mortgages just hadn't reached Hogtown before the market collapsed.