Canadians renting DVC reservations

[Maddysdaddy]

Did you use PayPal to buy the Disney US gc right from Disney? Or another site? I'm trying to figure out how to use ours as well without losing the exchange.

Yes. I purchased them from the shopdisney website with E-delivery and was able to pay using the funds from my PayPal account.

 

[deedubb]

With Paypal, you have to have a US-based USD bank account to transfer the funds over to. A lot of Canadian banks should have a US-based branch that you can get an account set up with.

I am with CIBC, and have been able to link my US-based USD bank account to paypal. I don't rent using a third party. Usually directly through the Disboards or through Facebook and have renters send me the funds in USD to Paypal. I then transfer it from Paypal to my US-based bank account. From there, you can also transfer it into your Canadian based USD account with the same bank fairly easily. I only do this since that's where my US dollar credit card is linked and how I can pay off my USD credit card when needed.

Prior to this, I did just use the Paypal balance to purchase Disney gift cards to pay dues or use on Disney trips. It usually all goes back to the Mouse anyways...

I am thinking about doing this. Does CIBC charge you to transfer from your US based USD account to your Canadian based USD account, or vice versa? I receive interest on my Canadian based USD account. Do they give you interest on the US based account as well?

 

[EatMoreVeg]

I am thinking about doing this. Does CIBC charge you to transfer from your US based USD account to your Canadian based USD account, or vice versa? I receive interest on my Canadian based USD account. Do they give you interest on the US based account as well?

Nope, no charges to transfer between my accounts, and you can do it with the online banking app as well. Although you won't be able to see transactions and account details of your US-based USD account, there is a different app you will need to download and set up to be able to do that.

There may be an option for interest for your US-based account but the one I have chosen doesn't. But my plan wasn't to keep a significant balance in there anyways.

 

[bcwife76]

We used Davids to rent our points during the Pandemic and it went really well. We rented a bunch of our Aulani points in less than 48 hours. I had the 70% in my Paypal account right away and just transferred it over to our TD account. I wouldn't hesitate to use Davids again in the future.

 

[lin7]

We are looking to rent out our points too. What are Canadian renters using for payment forthright usd funds? We rented before successfully and quickly but we actually got money order/draft as it was awhile a back.

 

[peacefrogdog]

We are looking to rent out our points too. What are Canadian renters using for payment forthright usd funds? We rented before successfully and quickly but we actually got money order/draft as it was awhile a back.

If you asking about what payment options I accept from renters paying in US fund, I use paypal which seems to separate funds received in USD from those received in CDN dollars.

With the exception of one instance, I was able to receive payments from US residents into my paypal account in USD . On that one occasion, the renter claimsed she sent in USD but Paypal ended up converting it to Canadian. I'm not sure whether it was something specific to her account, or somethign she didn't see. But there does look to be a way for those sending payment to ensure what is sent in USD funds ends up being received in USD.

 

[EatMoreVeg]

If you asking about what payment options I accept from renters paying in US fund, I use paypal which seems to separate funds received in USD from those received in CDN dollars.

With the exception of one instance, I was able to receive payments from US residents into my paypal account in USD . On that one occasion, the renter claimsed she sent in USD but Paypal ended up converting it to Canadian. I'm not sure whether it was something specific to her account, or somethign she didn't see. But there does look to be a way for those sending payment to ensure what is sent in USD funds ends up being received in USD.

There is actually an option on the sender's end for the receiver to get US funds, but they have to select this option when sending the payment. Because we are signed up under the Canadian version of Paypal, the default is for any foreign funds to be automatically converted. I don't think there's a way to change that on our end, so you need to tell the sender to specifically look for this option and select it.

When this happened to me in the past, I've actually refunded the payment and asked them to resend it selecting that option.

 

[lin7]

Thank you for your replies. So most are using PayPal for the option. Thanks for your help
One more question are there any other options other than PayPal? Or this the best and only option

 

[peacefrogdog]

I don't know if any other option is 'better' but provided the sender sends money from her/his paypal balance or linked bank account in USD, I can't see how it could be better. We don't get charged to receive funds (if we do, it's minimal I believe). Plus once you get funds in USD, you can use it to pay your DVC dues (using a disney e-gift card in USD that you can buy directly from disney) without losing money on the exchange. I don't believe Canadians can use Venmo or Cashapp.

 

[peacefrogdog]

I saw somewhere (I thought it was on these boards, but I can't find it) ) where a Canadian renter described asking for payment in USD in the form of a Disney e-gift card. This seems like a great idea if you would use the fees to pay off DVC dues or for your next trip. I've never tried asking for this, but assume it would be as easy as the person renting the points buying the e-gift card and sending it to your email address. Anyone see a downside to this? I supposed the person renting may not feel as secure vs sending via Paypal although sending via Friends & Family doesn't provide much protection anyway.