Personal Finance

TD Borderless Account

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Deal Fanatic
Jul 1, 2007
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You can't even link up a USD account to an access card to begin with. Not yet, anyway.
Generally speaking lets say if getting the best rates is all what the objective is and i really wont need any "select" services; is ING abd borderless account comparable !? I have seen ING rates are almost identical if not better as of today ING lets you buy @ 1.096 as compared to TD for 1.097 ?? would ING be a better choice if currency conversion if the only service required from a bank account (cheapest in fees) ?
I don't even know what you're saying. Keep in mind also, that the exchange rates you're quoting are not for "today" they are for the minute or 5 minute or whatever span of time that you happened to reserve that rate for on their system. All's I know is that at any given time if I do an exchange on Easyweb for, say, $10,000 (US or CAD) the rate I get is better than my staff rate, better than the borderless rate and far better than the regular branch rate for an exchange of that amount.
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Mar 23, 2004
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Markham
Thalo wrote:
Aug 23rd, 2009 1:45 pm
You can't even link up a USD account to an access card to begin with. Not yet, anyway.
+1 indeed, thats what i was told, but why anyway? i dont understand why banks (well at least big 5) have to be so crazy about this usd account thign.
「もし、奇跡を起こせたら……」
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Jul 1, 2007
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angel_wing0 wrote:
Aug 23rd, 2009 1:52 pm
+1 indeed, thats what i was told, but why anyway? i dont understand why banks (well at least big 5) have to be so crazy about this usd account thign.
I don't know; maybe it's some kind of regulation, maybe they're just too lazy.

I know that TDCT is working toward becoming more integrated with TD Bank in the U.S. Maybe down the road this will all be possible and we can even bank in the U.S. branches (for now we can use their ATMs to withdraw US cash from our CAD accounts and not be charged an extra fee).
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Mar 23, 2004
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Thalo wrote:
Aug 23rd, 2009 2:00 pm
I know that TDCT is working toward becoming more integrated with TD Bank in the U.S. Maybe down the road this will all be possible and we can even bank in the U.S. branches (for now we can use their ATMs to withdraw US cash from our CAD accounts and not be charged an extra fee).
i too am waiting for that, but my neck is as long as a giraffe now.
「もし、奇跡を起こせたら……」
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Sep 9, 2005
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Toronto
Thalo wrote:
Aug 23rd, 2009 2:00 pm
I don't know; maybe it's some kind of regulation, maybe they're just too lazy.
Definitely not a regulation, unless an internal TD one. CIBC allows you to withdraw cash from your USD account at any of their ATM's that dispense USD. However, for some inexplicable reason, CIBC won't allow you to do an online transfer from your CAD to USD account. The only way to add funds to your USD account is to deposit via ATM or teller.
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Aug 17, 2009
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Thalo wrote:
Aug 23rd, 2009 1:45 pm
You can't even link up a USD account to an access card to begin with. Not yet, anyway.



I don't even know what you're saying. Keep in mind also, that the exchange rates you're quoting are not for "today" they are for the minute or 5 minute or whatever span of time that you happened to reserve that rate for on their system. All's I know is that at any given time if I do an exchange on Easyweb for, say, $10,000 (US or CAD) the rate I get is better than my staff rate, better than the borderless rate and far better than the regular branch rate for an exchange of that amount.
Sorry if i didnt get you right - you are saying that easyweb gives you better rates then borderless ? I lost you there, so you use easy web to trasnfer CAD to USD on their website correct !? is that what you are referring to.

As to what i understand (and i might be way out to lunch) that TD has only two rates for USD, one is the TD bordlerless preferred exchange rate and the other is daily interest chequing account rate, both of which can be accessed by easy web !? is this making sense or aint it ?
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inassod wrote:
Aug 24th, 2009 1:21 pm
Sorry if i didnt get you right - you are saying that easyweb gives you better rates then borderless ? I lost you there, so you use easy web to trasnfer CAD to USD on their website correct !? is that what you are referring to.

As to what i understand (and i might be way out to lunch) that TD has only two rates for USD, one is the TD bordlerless preferred exchange rate and the other is daily interest chequing account rate, both of which can be accessed by easy web !? is this making sense or aint it ?
Yes, you understood me correctly. When you do a foreign exchange transaction on Easyweb or Webbroker you get a better exchange rate, because it is done electronically and you're not paying a teller's wage.

TD has more than two rates at the branch. Usually there's a rate for amounts under $1000, $1000-$5000, $5000-%10,000, and so on. The borderless rate is the rate for $35,000. Online, I think there are the same tiers but in every case the bid/ask spread is narrower.
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Dec 11, 2005
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Anyone know the following?

- If you have borderless and select service, and go to the US and withdraw from your chequing account at an ATM, do you get the preferred borderless rate? Because I don't *seem* to...

- Can you add your bordesless account to your ATM card under "Savings", so that when you are in the US, you can access it?
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
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Thalo wrote:
Aug 23rd, 2009 1:45 pm
You can't even link up a USD account to an access card to begin with. Not yet, anyway.
Thalo, do you know if this is still the case?
brunes wrote:
Mar 14th, 2010 8:50 am
Anyone know the following?

- If you have borderless and select service, and go to the US and withdraw from your chequing account at an ATM, do you get the preferred borderless rate? Because I don't *seem* to...

- Can you add your bordesless account to your ATM card under "Savings", so that when you are in the US, you can access it?
Anyone know either of the above? I am going to call EasyLine tomorrow to find out *for sure*. Going to the US in a week and having ATM access at TD Bank machines would be very nice.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
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May 9, 2005
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brunes wrote:
Mar 21st, 2010 9:31 pm
Thalo, do you know if this is still the case?


Anyone know either of the above? I am going to call EasyLine tomorrow to find out *for sure*. Going to the US in a week and having ATM access at TD Bank machines would be very nice.
My understanding is that when in the US you dont have access to the borderless account from the ATM (just like in Canada). If you withdraw money (which is free at TD machines in the US) it will take it from your select service (chequing account) and autoconvert the amount based on the borderless rate. So you get for example 100USD and it withdraws 103CDN from your account...
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Mar 23, 2004
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Markham
Thalo wrote:
Aug 23rd, 2009 2:00 pm
I don't know; maybe it's some kind of regulation, maybe they're just too lazy.

I know that TDCT is working toward becoming more integrated with TD Bank in the U.S. Maybe down the road this will all be possible and we can even bank in the U.S. branches (for now we can use their ATMs to withdraw US cash from our CAD accounts and not be charged an extra fee).
6 months later, still no news --*
「もし、奇跡を起こせたら……」
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Dec 11, 2005
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Gooner wrote:
Mar 21st, 2010 10:16 pm
My understanding is that when in the US you dont have access to the borderless account from the ATM (just like in Canada). If you withdraw money (which is free at TD machines in the US) it will take it from your select service (chequing account)
I am just asking because when I was in the US a month ago at a TD machine, when I went to withdraw funds, it actually *did ask me* for chequing / savings. I was wondering if I could get my TD Borderless to Savings if it would work.
and autoconvert the amount based on the borderless rate. So you get for example 100USD and it withdraws 103CDN from your account...
See, that is what I am curious about. It does not seem to have used the borderless rate, it seems higher (like it is the normal rate).
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
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Dec 11, 2005
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I just spoke to easyline, and got the answers.

- It is not possible to put your borderless account on an ATM card at this time.

- If you are in the US, and withdraw funds from your normal chequing / Select Service account at an ATM, you *DO NOT* get the borderless exchange rate., because your borderless account is not involved in the transaction. You can only get the borderless rate on transfers in and out of the borderless account.

- What the EasyLine rep told me *SHE* does, is she attached a PIN to her TD USD Visa card. Then when she is in the US, she takes cash out with the visa, and then transfers the balance from her borderless onto the Visa in the same day, so she pays no interest. The downside to this method she says, is that you have to pay the $2.50 cash advance fee. The TD ATM exchange rate surcharge is around 2.5%. So, this method is BETTER if you are taking out an amount > $100, but WORSE if you are taking out an amount < $100.

In summary - best bet is to just take some cash with you and use the Visa as much as possible :P
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
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May 9, 2005
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brunes wrote:
Mar 22nd, 2010 8:31 am
I just spoke to easyline, and got the answers.

- It is not possible to put your borderless account on an ATM card at this time.

- If you are in the US, and withdraw funds from your normal chequing / Select Service account at an ATM, you *DO NOT* get the borderless exchange rate., because your borderless account is not involved in the transaction. You can only get the borderless rate on transfers in and out of the borderless account.

- What the EasyLine rep told me *SHE* does, is she attached a PIN to her TD USD Visa card. Then when she is in the US, she takes cash out with the visa, and then transfers the balance from her borderless onto the Visa in the same day, so she pays no interest. The downside to this method she says, is that you have to pay the $2.50 cash advance fee. The TD ATM exchange rate surcharge is around 2.5%. So, this method is BETTER if you are taking out an amount > $100, but WORSE if you are taking out an amount < $100.

In summary - best bet is to just take some cash with you and use the Visa as much as possible :P
Thanks so much for the update. This will definitely save me some money. I was not aware the preferred rate was not applicable at the US ATM's!
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Dec 8, 2005
786 posts
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Do you know if I can link up my canadian paypal account to the borderless account (i got the cheques) and than transfer usd from paypal directly to the border less account? that would be great... thanks
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