Entrepreneurship & Small Business

Banks with ATM deposit into USD business account.

  • Last Updated:
  • May 19th, 2018 9:04 am
[OP]
Newbie
Jan 27, 2014
35 posts
10 upvotes

Banks with ATM deposit into USD business account.

My company has been doing business with the CIBC for over 60 years and we have both Canadian and US dollar checking accounts.

The branch we've been going to make deposits since 5 years is getting rid of the tellers and going 100% digital.

Currently I can do my Canadian account deposits via ATM but the CIBC does not allow commercial US dollar deposits through the ATM. I've asked them for this several times over the years but it does not seem important for them to accommodate US account holding clients so now I'm thinking I should look into other options.

If anyone knows of a bank that allows USD ATM deposits into US $ accounts please let me know.

FYI there are TD, Scotia, BMO, and Royal branches all within 10 KM of my office.

Thanks in advance.
2 replies
Deal Addict
Jul 3, 2017
3860 posts
2763 upvotes
Are you depositing cash or cheques? If cheques, there are some U.S. banks like BMO Harris that allow mobile deposit from Canada. We deposit all our US$ cheques using mobile deposit, and then transfer the money from BMO Harris to our Canadian accounts when necessary. US$ cheques clear in 2 days, and there's no cost to transfer the money to Canada the way we do it.
Deal Guru
Aug 2, 2010
14331 posts
4189 upvotes
Here 'n There
Exp315 wrote:
May 18th, 2018 10:27 pm
Are you depositing cash or cheques? If cheques, there are some U.S. banks like BMO Harris that allow mobile deposit from Canada. We deposit all our US$ cheques using mobile deposit, and then transfer the money from BMO Harris to our Canadian accounts when necessary. US$ cheques clear in 2 days, and there's no cost to transfer the money to Canada the way we do it.
Exactly what I do.

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