Personal Finance

TD USD account

  • Last Updated:
  • Oct 4th, 2011 11:44 pm
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Moderator
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Mar 23, 2004
47725 posts
13890 upvotes
Markham
zero_ wrote: I am looking to setup a USD account to receive wire transfers and to transfer $ in/out of paypal. Would the TD USD account be a good choice? Anyone have experience with it?


http://www.tdcanadatrust.com/products-s ... ccount.jsp

no it wont work. The only canadian account that would *sorta* work with paypal is the rbc usd e-savings account (can only receive money from paypal not send). If you want a fully working one u have to get the rbc centura usd account.
Deal Addict
Jul 30, 2003
2087 posts
504 upvotes
Toronto
You are right. I did more research and learned that if you try to transfer USD from paypal to your TD USD account, it will be first converted to Canadian dollar, then back to USD (so double the exchange). The reason is that the TD USD account is held within a Canadian financial institution.

I read that RBC has sold off its US bank asset a few months ago and is retreating from the US. I am not sure if I want to open a RBC usd account at this point.
Sr. Member
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Feb 21, 2009
579 posts
15 upvotes
zero_ wrote: You are right. I did more research and learned that if you try to transfer USD from paypal to your TD USD account, it will be first converted to Canadian dollar, then back to USD (so double the exchange). The reason is that the TD USD account is held within a Canadian financial institution.

I read that RBC has sold off its US bank asset a few months ago and is retreating from the US. I am not sure if I want to open a RBC usd account at this point.

I currently have RBC US account and transfer in and out of paypal...RBC has sent letters saying that it will continue and will not effect us.....I would suggest dropping by and see if they can open a new account still.

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