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Payment in U.S. dollars to a Canadian vendor
March 28, 2023
Q. We have a vendor that has asked to be paid in US dollars but they have a Canadian bank account. How does this work with the currency? Are there fees associated with this transaction? Please advise.
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A.
(from the IOFM Advisory Panel)
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All my invoices are converted to US Dollars, and I pay all international invoices by check, so the bank the vendor uses wouldn’t be an issue, and no fees associated on my end. I tried numerous times to pay invoices in Canada by ACH, and it always gets…
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