Cross-border banking made easy

Canadians are always looking for better ways to bank in the U.S.

Snowbirds need a U.S. bank account to take care of the bills at their condo. Canadian shoppers want easier ways to pay their Macy’s or J.C. Penney account after cross-border shopping sprees.

Opening an account at a U.S. bank is an option, but you might not be able to get a U.S. credit card because you don’t have a credit history. It’s also a hassle getting cash into those accounts because you either need a money order or have to cross the border, find a bank branch and deposit the cash.

Both RBC and TD Canada Trust are now offering accounts that overcome these hurdle, pairing them with a U.S. dollar credit card. They let you pay U.S. bills online, use American ATMs without access fees and make it easy to transfer money among the accounts.  Read More…

8 Comments

  1. Noor Malik

    I had been using RBC for cross border banking until 1 year ago, Never had any problem, quick action and quick response, hassle free….However they closed shop in Florida, hence I had to open TD account for US money transfers within US & Canada, it has been a nightmare ever since on both sides of the border, the representative lack knowledge and the left doesnt know the right…I shall close the account pretty soon…. dont have enough hours to waste over phone and in person

  2. Lindy H

    The most difficult aspect for me when cross-border shopping is that i like to use my debit card which works great in the US but because of our “chip” style we all love here in Canada i notice that they dont have the same style in the US.

    They are very backwards and so it takes me longer to do shopping and in some cases they cant use my chip-enabled card because their systems dont recognize it despite the logos on the back of the card.

    It’s time the US grew up!

  3. Ivory

    You’d think with both our dollars at par 1 to 1 that we wouldnt have to concern ourselves over conversions. Nope. Crazy world

  4. Kamden B.

    Yea i have a TD US account and is how i do all my banking. I recently got a US credit card and things are easy. The only problem is their are know gift points

  5. Omarion B.

    Poor ScotiaBank. Anyone remember them? They still don’t offer anything for us loyal customers for cross-border stuff.

  6. Kacey Dorr

    The best bank for US and Europe activity via cards is RBC Royal Bank in my opinion. They introduced an eSavings US account this year with no fees which is great for paypal.

  7. Arlo

    Because our countries are becoming so similar (products/services) there is less and less of a reason to shop and do business across the border.

    A lot of their biggest brick and mortar shops are here.

  8. Haley

    I think it is funny that it took decades for the big 5 banks to realise people wanted better ways to do banking in America. Sheesh!

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