USD Banking
 

Anyone hold a US Bank account /CC card? Any experiences/recommendation/tips?

For people frequently shopping in the states I think it may be of benefit, getting dinged less on the transactions.

BMO's USD CC has a $35 dollar annual fee. If you spend over $1000 each year, the next year's fee is waived. If you come to the Vancouver Main branch and apply, I can waive your first years fee :fullofwin:

TD Select Service account gets you tons of perks. One of which entitles you to a USD account and waived fees for their USD Visa. Only drawback is you need to keep $5k in their chequing, otherwise you get dinged with monthly fees.

THis is the promo that was offered to me, seems really interesting. This way you don't get dinged twice on the conversions...

what about a usd bank account?

I used to use a RBC Access account. It's pretty awesome because it's a true US account. Transfer between CDN USD account to US-USD account are instantaneous.

But as age progresses and my shopping habits changes, the $2500 daily limit (you used to be able to ask to lift the limit for 3days instantly, but now takes 2 business days for the same 3days) becomes bothersome.

So now I just stick with Chase for checking and got a credit card with them and make transfer between my Chase account and RBC USA account via Paypal. They are free and relatively fast (usually 2 business days)

Doesn't paypal just own you on the exchange rate? How do you set up a bank account with Chase, you just go into any branch in the states?

Under one bank plan, you can have as many accounts as you need including USD accounts. Depending on the bank plan you choose, yours fees are waived if you keep a minimum balance. BMO's USD accounts give you a preferred rate as well... (usually not as great as other foreign exchange places though)

I use banner bank for their bank account and platinum dividend credit card. no fees per year and get max 1% back a year. plus you can withdraw all of your usd conversion rate free from paypal into it. just go to the point roberts location. it's inside the supermarket. all online credit card transactions are simple as I put my billing address as a point roberts po box too.

cibc's got a $35/year USD visa, no extra fees as the funds being used are actual us funds. they let you pay with us cash or cheque directly on the visa come payment time

they also have a free USD account, only drawback of the USD account is everytime you withdraw (which means including paying the visa), you get charged 75cents. however, this lets you pay the visa directly from us funds without a canadian conversion

alan p from transit 4 stay away from my potential unit

http://imgur.com/LZRpC.gif

OP if u dont wanna venture into downtown as parking is expensive and the waiting time there is TERRIBLE (downtown branch is packed to the nips) u can get the same offer if u go 41st and Victoria. Much closer and easier.

TD has 2 USD accounts

1) Basic USD acc: No annual/monthly fee, $1 USD every time you take "out" money, Deposits don't cost you a thing ($1 fee is waived if you keep over $1000)

2) Premo USD acc (Borderless USD acc): $5/monthly fee (waived if you keep over $3000), Preferred rate, Free cheques, Free USD Visa (normally annual fee is $39)


Pro tip: Do your CAD to USD transfers on easyweb/online banking if you have these accounts. You'll get a better rate then walking in most the time!

So out of curiosity, because I've been interested in grabbing an American CC, how does billing work? One reason I'd like a US card is to buy from certain websites (along with all the trips I usually make down to Washington/Oregon), but some sites require an American billing address as well.

I keep RBC US acct because transfer between RBC US/CA are instantly and free.

I got a Chase acct for rents from investment properties. Just walked in, told them what I wanted to do, voila.

Then, wife's US PP attached to Chase, RBC US to my US PP. When I need to transfer fund from Chase to Canada, I do personal PP between my wife's and mine (no fee, and instant), PP withdraw (free, takes 2 days) and then RBC US-->CA (free, instant)