Payment in U.S. dollars to a Canadian vendor

July 31, 2019

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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.  ----- A. (from the IOFM Advisory Panel) ----- 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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