Is it possible to do a wire transfer so the receiving party gets the exact amount in CAD? For example if I want them to receive exactly CAD2000. Will they get exactly that amount and I would be charged the conversion and the wire fees?
Wiring from your Revolut account?
Sending exactly 2000 might be a bit tricky as this will be a SWIFT transfer and the fees are a bit unpredictable. Do they offer the possibility to pay by card too? That should be more precise.
Yes they offer a card payment through a third party provider (Plastiq.com or Paysimply.ca) at a cost of 2.5-3%.
Do you know who charges the SWIFT fee?
I know that the receiving bank (The Bank of Nova Scotia) does not charge a fee.
Intermediary banks might charge fees. There is a Revolut blog post about this, explaining international transfers in detail, in case you’re interested.
Paying via card might be the better option in that case. The fees seem to be more predictable.
I am interested indeed. Could you provide the link or reference?
Hello, I need to send wire transfer to the CRA but the account number they have is three digits longer than the Revolut app can take. I was hoping you guys are still around and can perhaps give me some feedback on how to send money to the CRA without using plastiq or paysimply