Money transfer question

The ones that do not charge fee simply give a bad exchange rate. You do pay for cross-border transactions one way or the other.

That is why all Cdns who leave Canada should keep a Cdn credit card and bank account for Cdn transactions.

Another excellent service is hyperwallet (a 10yr old vancouver based company). hyperwallet is the behind the scenes provider of domestic (Canada) money transfer to 3000+ Canadian credit unions, they are also a licensed money services business. For those of you that bank with one of these credit unions.. you already have the functionality within your payments and transfers tab. For those of you at one of the large banks you can create a seperate account at HW and load "wallet" with funds via bill pay. Advantages of HW account

- Hold different currencies
- Price out the transaction prior to completion
- Faster settlment time
- Link both US and CAD accounts for cash out
- CAD "cash in" through existing online at 3000+ CUs
- CAD "Cash in" through bill pay at other banks
- Alerts on status, iPhone application
- Move to another country and keep the service. It operates in 15 currencies, 40 countries and 12 languages.
- Free to set up.. and fees are transparrent.

The custom's house "free" is a relative thing.. they make their money on FX as opposed to a fee. You should price our your transaction

Has anybody set up Custom house as a bill payment from a Canadian bank?

Apparently you cannot set up yourself.

I have at BMO. When I make a transfer, I pay a "bill" to CH for the amount I wanted to transfer.