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07-11-2017, 03:50 PM
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#1
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not the mod you're looking for
Join Date: Sep 2009
Posts: 3,744
Thanked 1,537 Times in 556 Posts
Failed 83 Times in 32 Posts
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School me on US Bank Accounts
School me: I have a ton of US cash sitting around and I'm looking to open up a US bank account. Interest isn't a huge deal to me; I'm looking to make life easier during any of my trips down south.
Looking for any input and first hand experience from any RS members who frequently bank in 'murica.
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07-11-2017, 07:42 PM
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#2
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OMGWTFBBQ is a common word I say everyday
Join Date: Dec 2002
Location: YVR/TPE
Posts: 5,220
Thanked 3,282 Times in 1,453 Posts
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RBC, TD and BMo all have US/CA borderless accounts with their US affiliate (RBC USA, sold to PNC) and subsidiaries (TD US/BMo Harris) that let you quickly move money across the border.
Alternatively, if you want a true USA account, bring 2 pieces of ID and head down to any US banks of your choice in WA. They deal with a lot of Canadians... so it's not strange to them. They are just required by law to "know" their customers.
__________________
Nothing for now
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07-11-2017, 09:59 PM
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#3
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Where's my RS Christmas Lobster?!
Join Date: Jan 2010
Location: vancouver
Posts: 839
Thanked 1,726 Times in 302 Posts
Failed 412 Times in 43 Posts
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RBC Bank Georgia does it for me. I'm happy that they allow you to your billing address to the USA when you come across websites that only accept & deal with american credit cards.
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07-11-2017, 10:35 PM
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#4
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RS.net Licensed Sponsor Dealer
Join Date: Apr 2001
Location: AutoRice.com
Posts: 1,962
Thanked 74 Times in 37 Posts
Failed 6 Times in 2 Posts
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banner bank in point roberts. it's inside the grocery store. just bring 2 sets of photo id. you can sign up for their credit card as well which has $0 fees per year and you can get 1% cashback on purchases. their regular banking plan has no fees either. lots of canadians use them plus you can put your paypal to it.
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08-11-2017, 07:04 PM
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#5
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NOOB, Not Quite a Regular!
Join Date: Nov 2012
Location: Richmond
Posts: 43
Thanked 82 Times in 19 Posts
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I'd strongly recommend against opening an account at a US bank (in the US) unless it's not a lot of money.
A friend of mine had some tax implications as a result that caused more headaches than it was worth. There was interest income from the account that he didn't file and the IRS ended up making his life a pain the ass for virtually a few thousand dollars.
Best bet is to open a US account with a Canadian Bank and get a US credit card from a Canadian Bank or from a Canadian Division of a US entity.
Example: AMEX Issued in Canada but is in USD or US Mastercard issued from BMO.
With my AMEX, I get billed in USD and pay it from my US account at Harris.
You can also overpay your US CC with USD and take cash-advances in the US (some places charge some don't).
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08-14-2017, 08:43 AM
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#6
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I *heart* Revscene.net very Muchie
Join Date: Nov 2004
Location: vancouver
Posts: 3,873
Thanked 855 Times in 428 Posts
Failed 155 Times in 52 Posts
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exactly what Marco said...
USD account in canada and get a USD credit card
we've got them from BMO
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08-14-2017, 09:03 AM
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#7
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I Will not Admit my Addiction to RS
Join Date: May 2014
Location: Home*
Posts: 513
Thanked 387 Times in 128 Posts
Failed 21 Times in 14 Posts
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what are if any, high interest USD accounts. max i have seen is .5-.7
i do have a BOA account that i use for purchases down south. (no interest or fees)
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