Personal Finance

Having trouble getting a US Checking account due to my age..

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  • Oct 26th, 2014 8:13 pm
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Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON

Having trouble getting a US Checking account due to my age..

So I just turned 18 this August, and I really need to get a US Checking or even a savings account to be honest. Iv tried BMO, But they denied me due to me having no credit. Im a TD Canada customer so I thought TD US should accept but they also won't accept me because I have no credit? My last hope is RBC, Im going to get an RBC checking account in Canada and see if they can set me up in the US. Does anyone have any suggestions though?
19 replies
Deal Fanatic
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Sep 13, 2003
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Start with a credit card or phone bill. Build up your credit.
One blind human - a tragedy
Ten blind humans - a disaster
One million blind humans - a statistic
Deal Addict
Mar 3, 2009
1913 posts
1221 upvotes
Ottawa, ON
bruenor9 wrote: So I just turned 18 this August, and I really need to get a US Checking
Why? Do you have a job that's being paid in US dollars?
Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON
Yeh Kind of, Mostly via Paypal but I want to save on fees.

Also yeh I applied for the Tim Hortons Credit Card and my branch manager said I'm 100% accepted just that the card is taking a while. And for Phone bill I'm using Wind Mobile so its prepaid. How long will it take me to get my credit so I have enough to get a savings or checking account.
Penalty Box
Jul 28, 2010
577 posts
127 upvotes
Yeh. Need to paid yeh know. Yeh, PayPal can convert USD for yeh.
Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON
Ya but I prefer getting an actual US account it would save me quite some money. I get some pretty large amounts. Im seriously hoping RBC will help me when I go to open at the Canadian branch. But if not Im nots sure what to do...
Sr. Member
Apr 28, 2014
675 posts
185 upvotes
Oakville, ON
bruenor9 wrote: Ya but I prefer getting an actual US account it would save me quite some money. I get some pretty large amounts. Im seriously hoping RBC will help me when I go to open at the Canadian branch. But if not Im nots sure what to do...
Are these payments all through PayPal? I know for a fact that direct deposit arrangements don't work from US payors to Canadian bank accounts, CAD or USD, because the routing system between the two countries don't correspond.

I always thought that under Access to Basic Banking regulations, that as long as you provided two pieces of acceptable ID, the bank would open the account. Doesn't matter if you accept or decline a credit bureau check...maybe that only applies to Canadian dollar accounts. Can you be more specific as to why you were denied the account opening? Did you bring two pieces of ID?

Can't PayPal do the conversion for you and then you deposit the CAD funds in a CAD bank account?
Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON
Cerium398 wrote: Are these payments all through PayPal? I know for a fact that direct deposit arrangements don't work from US payors to Canadian bank accounts, CAD or USD, because the routing system between the two countries don't correspond.

I always thought that under Access to Basic Banking regulations, that as long as you provided two pieces of acceptable ID, the bank would open the account. Doesn't matter if you accept or decline a credit bureau check...maybe that only applies to Canadian dollar accounts. Can you be more specific as to why you were denied the account opening? Did you bring two pieces of ID?

Can't PayPal do the conversion for you and then you deposit the CAD funds in a CAD bank account?
They can but the fees suck, Also if I get a US Bank its just a lot easier for me. The main thing is my credit. I really do hope after a few months I can get some good credit. TD and BMO US don't let you apply to a Canadian branch. You gotta apply online or by phone.

This is why I'm hoping RBC will let me have a US account because apparently you can apply at a Canadian branch. They are my last hope lol
Sr. Member
Apr 28, 2014
675 posts
185 upvotes
Oakville, ON
bruenor9 wrote: They can but the fees suck, Also if I get a US Bank its just a lot easier for me. The main thing is my credit. I really do hope after a few months I can get some good credit. TD and BMO US don't let you apply to a Canadian branch. You gotta apply online or by phone.

This is why I'm hoping RBC will let me have a US account because apparently you can apply at a Canadian branch. They are my last hope lol
Ok, now I understand...you are attempting to open a USD account at TD Bank in the US or BMO Harris Bank.

The reason you are getting rejected is because you are doing a virtual account open; TD Bank and BMO Harris Bank are attempting to verify your ID with a US credit report. Which you obviously don't have, because you are a Canadian. Even if you did get a credit card or loan later on in life, that is being reported on a Canadian credit report; not a US one.

As for RBC, at one point they also had a US presecence; they sold off the US branch network, but maintain a direct bank in the US that is geared toward Canadian snowbirds.

You can't open a USD account at TD Canada Trust or BMO Bank of Montreal, which are the Canadian operations of the two instiutions?
Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON
Cerium398 wrote: Ok, now I understand...you are attempting to open a USD account at TD Bank in the US or BMO Harris Bank.

The reason you are getting rejected is because you are doing a virtual account open; TD Bank and BMO Harris Bank are attempting to verify your ID with a US credit report. Which you obviously don't have, because you are a Canadian. Even if you did get a credit card or loan later on in life, that is being reported on a Canadian credit report; not a US one.

As for RBC, at one point they also had a US presecence; they sold off the US branch network, but maintain a direct bank in the US that is geared toward Canadian snowbirds.

You can't open a USD account at TD Canada Trust or BMO Bank of Montreal, which are the Canadian operations of the two instiutions?
Well Apparently my mom got the TD one working easily. Also my older brother BMO accepted him. I think its just me. All the banks I applied too did ask for S.I.N and not SSN so theres that. But yeh Im really hoping RBC comes through with me here. If not not sure what to do...
Sr. Member
Apr 28, 2014
675 posts
185 upvotes
Oakville, ON
bruenor9 wrote: Well Apparently my mom got the TD one working easily. Also my older brother BMO accepted him. I think its just me. All the banks I applied too did ask for S.I.N and not SSN so theres that. But yeh Im really hoping RBC comes through with me here. If not not sure what to do...
Well, regardless of how this turns out - the best way to start building credit is to get a Student VISA or MasterCard. These cards have no income requirements and are meant to be a starting point for credit building.

In addition to that, you can always get another retail credit card from The Bay or Sears (as they give those away like candy) so then you have two cards. Just make purchases on the cards and pay them off when the bill comes. That is how I started building my credit around your age. Within five to six years I had excellent credit, and was getting Line of Credit Pre-Approval Offers.
Jr. Member
Jul 20, 2013
196 posts
22 upvotes
bruenor9 wrote: Well Apparently my mom got the TD one working easily. Also my older brother BMO accepted him. I think its just me. All the banks I applied too did ask for S.I.N and not SSN so theres that. But yeh Im really hoping RBC comes through with me here. If not not sure what to do...
Try applying for the account without a SIN number. Sometimes they might just be able to verify your identity that way. I've had that happen to me before when I applied by phone or online.

Worst case scenario is to literally drive down to a TD US branch and present 2 pieces of ID to open up the account. Or you could find a regional bank around your area that has very low or no minimum balance requirements to waive monthly "checking" account fees.
Deal Addict
Oct 24, 2009
2477 posts
1102 upvotes
You can just transfer your paypal USD funds into a Canadian based RBC USD esavings account, that's what I do, no need to open a US based account for that purpose alone. Keeps everything in USD and in your bank account rather than paypal. RBC is the only bank you can do this with. The thread on how to do it is here in the personal finance section.

Only downside is you only get one withdrawal a month for free.
Jr. Member
Jul 20, 2013
196 posts
22 upvotes
cbt123 wrote: You can just transfer your paypal USD funds into a Canadian based RBC USD esavings account, that's what I do, no need to open a US based account for that purpose alone. RBC is the only bank you can do this with. The thread on how to do it is in the personal finance section.
Major problem with that is you only get one free withdrawal per month and it's generally a PITA to spend USD electronically without going through a lot of hoops. Having a real US based bank account beats this route by light years in terms of convenience.
Deal Addict
Oct 24, 2009
2477 posts
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PwnyExpress wrote: Major problem with that is you only get one free withdrawal per month and it's generally a PITA to spend USD electronically without going through a lot of hoops. Having a real US based bank account beats this route by light years in terms of convenience.
If it's only for paypal purposes as the OP seems to be wanting to use it for, I think the RBC route involves the least hassle if you can live with only one free withdrawal per month. If you've got US based bills to pay then, yeah, it's definitely not the best option.
Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON
PwnyExpress wrote: Major problem with that is you only get one free withdrawal per month and it's generally a PITA to spend USD electronically without going through a lot of hoops. Having a real US based bank account beats this route by light years in terms of convenience.
Do you know if I go to an RBC branch to open an actual US account they will credit check me there?
Deal Addict
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Dec 8, 2010
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RBC Bank Embassy Checking? Not sure they'd do a credit check, it's not credit. Just take all your ID.
Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON
Yeh, Im just looking for any checking account. I heard there is a three dollar fee? Can that be waived?
Deal Addict
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Dec 8, 2010
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bruenor9 wrote: Yeh, Im just looking for any checking account. I heard there is a three dollar fee? Can that be waived?
Not that I've heard. You do get good service for your $3, though.

Check the massive thread on US Bank Accounts for Canadians, BTW.
Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON
daverobev wrote: Not that I've heard. You do get good service for your $3, though.

Check the massive thread on US Bank Accounts for Canadians, BTW.
So I can't have like a minimum balance of like 10k and still gotta pay 3$? Aww... But I agree the service is still good.

And yeh I read through most of the thread... just most the steps Iv taken have gotten me denied from banks. RBC is my last hope, till I establish a credit

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