If I’m listing in the U.S. from Canada for wholesale, do I need a U.S. cash account, or can I use my Canadian account?
If you’re listing in the U.S. from Canada for wholesale, you can use your Canadian bank account, but having a U.S. cash account may help reduce currency conversion fees and simplify transactions. Some payment processors and marketplaces, like Amazon, allow payouts to Canadian accounts, but you might get better exchange rates and faster transfers with a U.S. account.
Good question. You can use your Canadian account, but some wholesalers prefer a U.S. cash account to avoid currency conversion fees and speed up transactions. It really depends on how you plan to operate.
Are you already selling in the U.S., or is this your first time listing there?
You use only Canadian bank account. No need to get your US bank account.
No, you don’t need a U.S. bank account but having one helps. Amazon can deposit your earnings into a Canadian bank account through their currency conversion service Amazon Currency Converter for Sellers ACCS.
You can use your Canadian bank account, but having a U.S. dollar account can make transactions smoother and help you avoid currency conversion fees.
You can use your Canadian bank account to receive payments from Amazon, but it’s recommended to have a U.S. dollar account to avoid currency conversion fees. Amazon pays in the currency of your registered bank account, so if you link a Canadian account, the funds will be converted from USD to CAD, often at unfavorable exchange rates. To minimize losses, you can set up a U.S. dollar account with a Canadian bank or use services like Wise or Payoneer to receive payments in USD and convert them at better rates. If you’re sourcing from U.S. suppliers, having a U.S. bank account can also make transactions smoother and avoid foreign transaction fees.
Yes, you can use your Canadian account, but a U.S. cash account helps with fees and faster payments. Payoneer or Wise are good options. Are you already selling in the U.S.?
You use only Canadian bank account.
What are the best options available for US cash account? And how about payoneer?