Personal Finance

u.s chequing account

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  • Nov 30th, 2010 6:42 am
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Newbie
Sep 30, 2010
69 posts
2 upvotes
ontario

u.s chequing account

i was told you can apply for a u.s credit card and u.s chequing account without being a resident of u.s you just need a us address is this true?
8 replies
Jr. Member
User avatar
Sep 15, 2008
157 posts
6 upvotes
timex15 wrote: i was told you can apply for a u.s credit card and u.s chequing account without being a resident of u.s you just need a us address is this true?

Many Canadian banks offer a US credit card and a US chequing account. I've had both with CIBC, and currently have a US Chequing account and US Mastercard with BMO. I don't have a US address.
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Deal Addict
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Aug 7, 2010
1127 posts
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You don't need a US address if you want to open an account with Harris bank (owned by bank of Montreal)
Sr. Member
Oct 16, 2008
699 posts
34 upvotes
Mississauga
I have a question regarding u.s. savings. I recently sold my u.s. Stocks when changing jobs. So now i have a cheque in u.s. And dont plan on using the money anytime soon i just want to save it. So what are my options? My bank has a u.s. Savings account but the interest is low. I dont want to convert it to canadian currency because i will lose money that way. Is there any way to make decent interest off it or should i just go to the bank and open a u.s. Savings and leave it there for a while?
Deal Addict
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Aug 7, 2010
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Check if your US bank offers high yield CDs (but don't expect much).
Sr. Member
Feb 18, 2004
821 posts
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cortez wrote: I have a question regarding u.s. savings. I recently sold my u.s. Stocks when changing jobs. So now i have a cheque in u.s. And dont plan on using the money anytime soon i just want to save it. So what are my options? My bank has a u.s. Savings account but the interest is low. I dont want to convert it to canadian currency because i will lose money that way. Is there any way to make decent interest off it or should i just go to the bank and open a u.s. Savings and leave it there for a while?

most banks have USD term deposits or GICs, which should give you better interest rate than savings accounts. ING also offers a USD savings account.

http://www.ingdirect.ca/en/save-invest/usisa/index.html
Newbie
Sep 30, 2010
69 posts
2 upvotes
ontario
thanks for the harris bank info. I would like to get a us credit card too. Can i get one without being a u.s resident?
Deal Addict
Mar 10, 2009
2792 posts
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Mississauga
TD US$ Boarderless account Min. Bal. $3,000 and you get a free US$ Visa
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Dec 11, 2005
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timex15 wrote: thanks for the harris bank info. I would like to get a us credit card too. Can i get one without being a u.s resident?

No but you can get a debit Visa.

PS - pretty much any bank along the border will do this, not just Harris. BoA and TD are two other options, as well as RBC Centura. Key Bank in the north-east as well. Just say you're a Canadian and want to open an account, bring in your passport, the process takes about 20 mins tops.
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