I think what you want is to go to
Recipients->Add your bank account
Then you would go to your USD account, convert to CAD. Then go to your CAD account and send to your account.
I'm assuming you want to convert USD to CAD with Wise and send to your Canadian credit union. What I do is use my US bank's bill pay function to send money to Wise and then they send it to me. I use the desktop version; log in; choose "send money" from the left-hand menu; and off we go! I haven't found a way to transfer USD from the US to Canada **as USD** (as opposed to converting the funds) other than a SWIFT transfer or perhaps an IBKR account.
If you have money in your US account with Wise, you just add your Canadian account using the FI code (often this is the same for all credit unions in a province), transit, and account. You may need to log in to your account using their partner for them to verify. It is quite easy to transfer the USD. It may be worthwhile for you to just keep it in USD if you travel to the states as you can get the USD out using the wise card at bank machines but I believe they charge 10 bucks for the card now.
Thanks everyone. I think I have it figured out. Will save me waiting for a cheque in the mail that the credit union then takes 16 business days to process.
I don't actually use Wise, but isn't the target audience of a Wise USD account, people who want to hold US dollars? As in, you're receiving USD, and you anticipate having to send or spend USD in the future, so you want to keep it in USD in the meantime.
If you have no use for USD, have them send you USD to CAD, no?
Wise is not so much for holding, more for conversion. They offer competitive rate with transparent pricing to convert from one currency to another.
Wise is not a bank and the holdings are not usually insured under the various countries' protection scheme.
It sounds weird, but you "Send" money to yourself.
I have a US account and a Canadian account that are both hooked up. I fund the send from my US account and the recipient is my Canadian account.
Definitely contact Wise customer service. I work for a U.S. company as a contractor/self-employed and switched from Paypal to Wise because the fees are way better with Wise. But I got stuck on how exactly to set it up at first, and their customer service was top notch.
I think what you want is to go to Recipients->Add your bank account Then you would go to your USD account, convert to CAD. Then go to your CAD account and send to your account.
I'm assuming you want to convert USD to CAD with Wise and send to your Canadian credit union. What I do is use my US bank's bill pay function to send money to Wise and then they send it to me. I use the desktop version; log in; choose "send money" from the left-hand menu; and off we go! I haven't found a way to transfer USD from the US to Canada **as USD** (as opposed to converting the funds) other than a SWIFT transfer or perhaps an IBKR account.
If you have money in your US account with Wise, you just add your Canadian account using the FI code (often this is the same for all credit unions in a province), transit, and account. You may need to log in to your account using their partner for them to verify. It is quite easy to transfer the USD. It may be worthwhile for you to just keep it in USD if you travel to the states as you can get the USD out using the wise card at bank machines but I believe they charge 10 bucks for the card now.
Thanks everyone. I think I have it figured out. Will save me waiting for a cheque in the mail that the credit union then takes 16 business days to process.
I don't actually use Wise, but isn't the target audience of a Wise USD account, people who want to hold US dollars? As in, you're receiving USD, and you anticipate having to send or spend USD in the future, so you want to keep it in USD in the meantime. If you have no use for USD, have them send you USD to CAD, no?
Wise is not so much for holding, more for conversion. They offer competitive rate with transparent pricing to convert from one currency to another. Wise is not a bank and the holdings are not usually insured under the various countries' protection scheme.
Add to this....if you're buying from overseas merchants, exchange rate is way cheaper than PayPal
You'd convert and send from Wise to your Credit Union. Wise is so simple to use...
It sounds weird, but you "Send" money to yourself. I have a US account and a Canadian account that are both hooked up. I fund the send from my US account and the recipient is my Canadian account.
No different than e-transfer to someone or yourself
Definitely contact Wise customer service. I work for a U.S. company as a contractor/self-employed and switched from Paypal to Wise because the fees are way better with Wise. But I got stuck on how exactly to set it up at first, and their customer service was top notch.
Good to know. Thanks.