That’s the thing I don’t understand. Anyone can wire a Canadian bank account and it’s only a $30 fee that the person receiving it pays. These companies are literally taking advantage of this to not pay. Some of our brokers and customers have sent wires and we receive them within a day or two max. The troubling thing is that every other broker is using triumph pay and now 3 weeks in they have everybody by the ball. Acting like operations costs also stop going out. They didn’t even realize usps wasn’t accepting Canada blind mail until I told them to google it yesterday.
Canada Post strike; Payment delivery
- Thread starter economy
- Start date
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You're right; wiring is straightforward. Larger brokers may have policies and procedures that complicate things, but with smaller brokers, it feels like they're just using this as an excuse to hold onto your money. We are getting ready to file on the bonds of those who are refusing to allow check pickup, wires, or ACH transfers.
based on this thread, I truly didn't realize how many companies still pay via cheque. 99% of my CDN clients pay EFT or ACH, and, we pay EFT to anyone willing to accept it (99.9% of carriers crossing my path). Outside of my US domiciled partners, we wouldn't know there is a strike.
We get paid through Triumph for a few brokers we use in the US. We have a US domiciled account through TD and no issues receiving money, their “RBC only” claim is simply not true. We have a Canadian account setup for a few CDN$ payments that are made through that platform as well. We have had no issues Recieving payment to either through Triumph.
Good Luck!
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That's what I was thinking, seems like BS, any major bank would work. The issue is if you have an account with a smaller credit union or bank they won't accept it. Our RBC account is in progress but we are being told it can take up to 2 months for the Anti Money Laundering team to review the file. We spoke to Triumph Pay this morning and they advised they are actively working on a solution or exceptions for Canadian carriers, we shall patiently wait and see what those are.
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You can deposit a comcheck at your local bank, my RBC branch accepts them. Just load the check fill it out and the teller will call the number
Can you elaborate? I have never used it before. I’m with Cibc. Once I receive the comcheck code, what do I fill it out on? Is there a specific piece of paper? Sorry I’m new to this.
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Absolutely,
This should work the same for any bank RBC ,TD BMO or even CIBC. It just depends on the teller, we have been banking with our branch for many years and they have staff that have been there for 30 years so they have seen their fair share of t-cheks and comchecks even though it's not very common now days.
You can have one of your drivers pick up paper T-Cheks from a nearby truck stop. Once you have them, the broker will provide you with a money code, which you’ll write on the T-Chek to complete it.
The process for Comcheks is similar. If you already have a Comchek, you’ll need to give the broker the check number. They will load the funds onto that number. Fill out the required details on the check, leaving the authorization field blank. The teller at the bank will then call Comdata to getan authorization number, and once approved, the com/t-check will be processed just like a regular check.
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TRIUMPHPAY update. just contacted them few minutes ago when the agent informed me that unless we have a RBC US based account they can not pay us and directed me to contact the brokers directly for payment arrangement. Triumphpay is washing their hands.
Although, they have the Royal Bank Canada account, they even do not wish to exercise the option to electronically pay the invoices billed in CAD currency (we do have a bunch of those).
DO NOT wait for them to find the resolution; CALL BROKERS TODAY.
Although, they have the Royal Bank Canada account, they even do not wish to exercise the option to electronically pay the invoices billed in CAD currency (we do have a bunch of those).
DO NOT wait for them to find the resolution; CALL BROKERS TODAY.
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Good luck getting brokers to cooperate. You are at their mercy unless you start taking action.
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They will have to cooperate as soon as we file the Surety Bond claims for non payment
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Many have likely taken a wait and see attitude, not expecting that the strike would drag on this long. We’re into week four now with both sides still far apart. This could go well into the new year…plan accordingly.
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Let me know how it goes for you, we have sent our notices this week and will start the bond filing process on Monday.
Forgot to say thanks. Got this all sorted out with your help.
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I have found a way to receive ACH payments for RBC Bank. I visited the bank and obtained the attached form, which lists the routing number for RBC as 026004093. You can then add your account information, with the branch number consisting of 5 digits and the account number 7 digits, making a total of 12 digits. I even tested this with US Bank, and it recognized the routing number.
Attachments
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Have you recieved any payment through this way yet? Seems experimental, to my knowledge the bank has to be based in the US for ACH, unless you have a cross-border account setup already.
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I think you're on to something, I spoke to RBC on the phone, and they told me the same thing, go to the bank and get the form 1700. Keep me posted on your test, want to make sure before having a payment misrouted. We have been successfully getting payment through our vault account as well, once the payment hits the account we transfer it over to our RBC USD and the transfer hits in an hour. Just having issues with Triumph hopefully this RBC trick works.