Any canucks got us bank accounts?

[oakleys]

Are we allowed to open us bank account & leave $ in there, but apply with our cdn address ?

[Cruiseaholichal]

Are we allowed to open us bank account & leave $ in there, but apply with our cdn address ?

Why not just open an account at your Canadian bank in US funds. That's what we do.

[jtdlmc]

Why not just open an account at your Canadian bank in US funds. That's what we do.

 

I have a USD acc't at my bank as well. Living in a border city, I do have friends who have opened acc'ts at US banks with no problems.

[oakleys]

Why not just open an account at your Canadian bank in US funds. That's what we do.

Getting usa $ in the states & would rather leave it in the usa.

[MikeyA53]

We recently opened a TD account in the U.S, we are fortunate enough to live only 20 minutes away from the border. We'll be able to use our bank card as a debit card in the U.S.

[Tbay-eh]

When Cdn $ is really good - I buy US funds and put in US account here. When Cdn is bad I will draw from account when it is good I just use debit or credit card. Before one cruise I bought about $5,000 (Canadian $ almost at par $.98) when I paid Carnival for one cruise it was at $.67 big time savings. No need to go to US to this.

[BC Todd]

When Cdn $ is really good - I buy US funds and put in US account here. When Cdn is bad I will draw from account when it is good I just use debit or credit card. Before one cruise I bought about $5,000 (Canadian $ almost at par $.98) when I paid Carnival for one cruise it was at $.67 big time savings. No need to go to US to this.

This is what we do as well. I am watching closely right now, it may be time for another buy of US funds...a bit of a crap shoot, but I think we will surpass the ole green back this spring.

[Tbay-eh]

This is what we do as well. I am watching closely right now, it may be time for another buy of US funds...a bit of a crap shoot, but I think we will surpass the ole green back this spring.

 

I totally agree - it is a crap shoot. I bought about $1000.00 then our $ shot up again - I probably lost a bit on that one but when it zipped back down to $.82 guess what I was ahead again. I wish we were like the Euro - have the same currancy and none of this crap would go on but then our banks would not make a profit - God forbid.

[scchasgal]

Are we allowed to open us bank account & leave $ in there, but apply with our cdn address ?

 

My parents in Ottawa have done this but they use my U.S. address. They didn't want CRA to know about them selling property in the U.S. and having to make a large deposit in Canada would have them looking for taxable income :D

[sk8rpatty]

Are we allowed to open us bank account & leave $ in there, but apply with our cdn address ?

 

I'm not a Canuck but my boyfriend is. He opened an account with Wells Fargo here in So Cal, no problem!

[bob&france]

Visit your local RBC Royal Bank, they will complete and send to RBC Bank, their US affiliate, what is required to open your US account as a Canadian resident.

 

Bob

[Nyctor118]

Are we allowed to open us bank account & leave $ in there, but apply with our cdn address ?

 

Royal Bank of Canada offers a US Banking program for Canadians, in conjunction with their US affiliate RBC Bank. They will open a US dollar account for you, at RBC Bank in the US.

[ken_ll]

My parents in Ottawa have done this but they use my U.S. address. They didn't want CRA to know about them selling property in the U.S. and having to make a large deposit in Canada would have them looking for taxable income :D

 

CRA already knows thanks to information sharing. Databases today are electronic.

[mississauga]

What difference does it make whether your US account is in Canada or the US? Would it not be more convenient to have it in Canada? Easier to transfer money to it when the exchange rate is good?

 

We have a US account and a USD Mastercard. When we use our USD Mastercard, we can transfer money from our US account to pay off our Mastercard. Works out very well. Easy to take some cash out prior to my trip to the US.:D:D:D

[daisy-mae]

What difference does it make whether your US account is in Canada or the US? Would it not be more convenient to have it in Canada? Easier to transfer money to it when the exchange rate is good?

 

The only difference I can think of is the ability to use a debit card in the US. I have a US account at my Canadian bank, but I can't access it from the States.

 

I keep a small balance in a US bank -- TD Banknorth -- and use the debit card from that account when I travel to the States.

[Goldeneye]

Watch out for 'Bank failure friday's'!! The rules in the USA aren't as stringent as here in Canada, at the moment the FDIC is going into these banks on a Friday after they've closed for the weekend and on Monday it's business as usual under a different name.. The general public non the wiser to know that their bank had failed !

They've been stepping in 'ahead of the game as they don't want the press coverage and masses of panicked people causing 'bank runs' such as happened with Northern Rock in the UK ...

 

The FDIC had to go back and get more funds as it had run out... check out >> just put in http:// bankfailurefriday.net/ to see how many banks have been failing since the start of the 'credit crisis'..

 

BTW - imo... The worst is yet to come, I was warning my sister in the UK a year before Northern Rock had difficulties..