EFT payment method; Why would you still use Cheques and Mail?

Beep Beep

New Member
2
Here's what my bank (Caisse) said when I asked:

CAD to Canada : $9.53
CAD to other countries: $15.17
USD to US: $12.36 USD
USD to Canada or other countries: $15.17 USD
Other currencies: $10.17 CAD

Service charges for:
Wires within Canada: $15.00,
To US: $25.00
Others: $35.00

I also deal with Scotia and waiting for a reply from them.

And that is why we still send cheques in 21 days...

If we can get the costs to .50 like some other posters have said, we're on it like flies on ****
 

marylou

Active Member
10
Here's what my bank (Caisse) said when I asked:

CAD to Canada : $9.53
CAD to other countries: $15.17
USD to US: $12.36 USD
USD to Canada or other countries: $15.17 USD
Other currencies: $10.17 CAD

Service charges for:
Wires within Canada: $15.00,
To US: $25.00
Others: $35.00

I also deal with Scotia and waiting for a reply from them.

And that is why we still send cheques in 21 days...

If we can get the costs to .50 like some other posters have said, we're on it like flies on ****
Thanks, that is really good info. I am with RBC and for international wires under 3000.00 they charge me 15.00 usd to send the monies, over 3000.00 it is 20.00. For the monies I send to carriers in Canada I set them up as a vendor and it is .85 cents to transfer. The only nice thing about bank fees is that they are an expense come tax time. :)
 

Beep Beep

New Member
2
Thanks, that is really good info. I am with RBC and for international wires under 3000.00 they charge me 15.00 usd to send the monies, over 3000.00 it is 20.00. For the monies I send to carriers in Canada I set them up as a vendor and it is .85 cents to transfer. The only nice thing about bank fees is that they are an expense come tax time. :)
I forgot to mention that we do a lot of E-Transfers and banks charge us $1.00 per but they are not as secure as EFT.
If carriers want to cover my bank charges, I would gladly send an EFT but I'm not paying $25 out of my pocket...
 

Freight Broker

Well-Known Member
30
I'm with RBC as well.. As most my checks go stateside I've found the good old snail mail to be the best option. I just make sure the check goes out the day the invoice comes in to minimize days to pay. Total cost: $1.30 for the stamp.. $1.00 for the check.. $.10 for the envelope.. $2.40..
 
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