2021-08-31|Linking PayPal to Scotia USD Savings Account

To whom it may concern

I am trying to link my PayPal account to Scotia USD Savings account (70136-002-0411485). PayPal requires the Routing Number (9 digits) and the Account Number for IACH from the U.S.A. which is different from Canada's Routing Number (5 digits). After several inquiries to Scotiabank staff in Scotia Online, I received the following reply.

However, PayPal's micropayment failed to be deposited to the Scotia USD Savings account with ABA number 026009593 or 026002532. After tremendous efforts over 2 months, including desperate plea to PayPal's President & CEO, here is PayPal's definitive reply.

Merchant Technical Support wrote:

Per agents response it shows in order to add a bank to your PayPal account the bank must be on U.S. soil. You cannot add a Canadian bank that allows a USD balance. The reason why the random deposits were returned because the bank recognized that this is a Canadian account that hold USD funds only. You will need to use one of your Canadian banks to convert the funds to CAD on your PayPal account. We are unable to add that bank at this time due to Canadian banking regulations.

The reply does not specify it is the policy of Scotiabank or that of the entire banking industry. Nevertheless, the fact is that usefulness of Scotia USD Savings account is very limited since both PayPal and Scotiabank insist that USD be converted to CAD which should be converted back to USD in round-trip double conversion.
Therefore, please consider modification to such unproductive regulation if it is Scotiabank's policy. If it is the entire banking industry's policy, then please either forward my concern to the proper authority or provide me with a point of contact.
Thank you very much for your attention.

Merchant Technical Support wrote:
Per agents response it shows in order to add a bank to your PayPal account the bank must be on U.S. soil. You cannot add a Canadian bank that allows a USD balance. The reason why the random deposits were returned because the bank recognized that this is a Canadian account that hold USD funds only. You will need to use one of your Canadian banks to convert the funds to CAD on your PayPal account. We are unable to add that bank at this time due to Canadian banking regulations.

To whom it may concern

Here is Scotiabank's explanation which has clarified the matter. However, there is no solution in sight.

Office Of President Scotiabank wrote:

In our review, we confirmed that regrettably payments and direct deposits are not available for cross border transactions between US Dollar accounts, due Scotiabank's settlement process. However Scotiabank does allow you to complete both Wire Transfers and International Money Transfers online to US accounts. Having said that, I have forwarded your feedback regarding this matter to the appropriate teams.

Thank you very much for your attention.

Office Of President Scotiabank wrote:
In our review, we confirmed that regrettably payments and direct deposits are not available for cross border transactions between US Dollar accounts, due Scotiabank's settlement process. However Scotiabank does allow you to complete both Wire Transfers and International Money Transfers online to US accounts. Having said that, I have forwarded your feedback regarding this matter to the appropriate teams.

To whom it may concern

In desperation to transfer USD from the U.S.A. to Canada, I sent USD from PayPal to my Small Business account at BMO Harris Bank (HyperInfo Canada Inc.), then clicked "Pay bills" to transfer to my Scotia USD Savings account at Scotiabank.
- Company Name: Bank of America - Scotiabank
- Nickname: Scotia USD Savings Account
- Category: Banking Deposit
- Account Number: 026009593-002701360411485
- Address 1: 222 Broadway
- City: New York
- State: NY
- ZIP Code: 10038
- Memo: Scotiabank USD Account (Canada)
Amazingly, they are printing and sending a paper check by snail-mail instead of making direct deposit via the Automated Clearing House (ACH) network, as confirmed by BMO Harris Bank's agent during a telephone conversation.

Status Activity

Processed Check 5001 was mailed to Scotiabank for receipt by Jan 21, 2022. Your check may be cashed, and the money withdrawn, before, on, or after Jan 21, 2022.

Status	Activity
Processed	Check 5001 was mailed to Scotiabank for receipt by Jan 21, 2022. Your check may be cashed, and the money withdrawn, before, on, or after Jan 21, 2022.

The status at BMO Harris Bank changed from "Processing" to "Processed", but the transfer never arrived at my Scotia USD Savings account, so it is like a black hole. Here are promises on BMO Harris Bank's website.

How does BMO Harris Bill Pay work?

If the person or company can't accept electronic payments, we print a check and mail it for you.

Is there a fee for using Bill Pay?

We do not charge a fee to make a standard Bill Payment.

What are the Bill Payment Limits?

Minimum: There is no minimum amount of a Bill Payment.
Maximum: There is no maximum amount of a Bill Payment that applies to an individual user.

Thank you very much for your attention.

How does BMO Harris Bill Pay work?
If the person or company can't accept electronic payments, we print a check and mail it for you.
Is there a fee for using Bill Pay?
We do not charge a fee to make a standard Bill Payment.
What are the Bill Payment Limits?
Minimum: There is no minimum amount of a Bill Payment. Maximum: There is no maximum amount of a Bill Payment that applies to an individual user.

To whom it may concern

Please let me know how I can deposit a USD check from BMO Harris Bank (USD) in Chicago, IL, U.S.A., into Scotia USD Savings account (USD). My iPhone's Scotiabank app (iOS) does not show an option to "Deposit a cheque" which shows up OK for the CAD accounts. Can any Scotiabank branch accept the USD check into the USD account? If so, are there extra fees?
Thank you very much for your attention.