Personal Finance

U.S. based TD Bank account now available for Canadians

  • Last Updated:
  • Sep 13th, 2018 12:55 pm
Tags:
None
Sr. Member
User avatar
Aug 7, 2010
757 posts
167 upvotes
gameon12 wrote:
Oct 23rd, 2017 6:48 pm
I opened the RBC US$ e-savings account here and then their US (Georgia) Preferred Money Market. SO easy to move $USD back and forth. And I've banked w TD from day one.
Agreed, easy and smooth process. Just remember that you are allowed only 1 free withdrawal per monthly cycle from the e-Savings and that you need to keep a minimum of US$1000 in the MM to waive the monthly fee.
Sr. Member
May 7, 2012
534 posts
178 upvotes
komodor wrote:
Oct 24th, 2017 3:34 pm
Agreed, easy and smooth process. Just remember that you are allowed only 1 free withdrawal per monthly cycle from the e-Savings and that you need to keep a minimum of US$1000 in the MM to waive the monthly fee.
Yep. And you get 6 debits/withdrawals/bill pays per month (statement cycle) out of the US MMF. Their Visa CC is very handy as well.
Member
User avatar
Mar 2, 2014
400 posts
154 upvotes
Finished setting up their convenience checking account, the process was pretty painless.

Now, I am thinking of applying for their credit card as well, anyone successfully applied and received it yet?

EDIT: Just tried applying and its only available for US addresses :(
Deal Addict
Jan 20, 2016
1747 posts
728 upvotes
Houston, TX
scorown wrote:
Nov 9th, 2017 1:21 pm
Finished setting up their convenience checking account, the process was pretty painless.

Now, I am thinking of applying for their credit card as well, anyone successfully applied and received it yet?

EDIT: Just tried applying and its only available for US addresses :(
You should get free USD card (Canadian still). US card is only for US residents, yes. And general rules applies here - you'll be a no-history man for them in terms of credit cards :/
The easiest way to get US card (once you'd have US address) - use Amex "transfer" program and get US Amex.
Make the Trudeau drama teacher again!
Newbie
Oct 3, 2009
67 posts
18 upvotes
Hi all. I'm thinking of opening a TD bank account and also a cross border account since I get paid from a us company in USD currency so it would make my life a little easier. Does anyone know if it's possible to do Mobile Cheque Deposits with US issued cheques with these types of accounts? I know many banks only allow CAD currency to be mobile deposited, but was hoping if I get paid from a US company with USD cheques I could deposit using mobile instead of running down to the bank?

Thanks
Deal Addict
User avatar
Apr 10, 2010
1380 posts
189 upvotes
I have a fraud flag on my TransUnion file (Peoples Trust anyone? :)). Would that be a problem during the online application for the TD Bank chequing account (I won't be applying for the Visa)?
Deal Addict
Oct 17, 2010
1445 posts
237 upvotes
Toronto
So which td/rbc account is best to link with canadian paypal account to transfer in USD?
Newbie
Oct 3, 2009
67 posts
18 upvotes
For those who opened a cross border account lately, what method did you use to initially make a deposit to the account? Do you just call the cross border number and have them make a transfer from the TD canada chequing account to the TD Bank US checking account?
Deal Addict
User avatar
Jan 4, 2011
1172 posts
959 upvotes
Montreal
Wallboy wrote:
Jul 2nd, 2018 7:47 am
For those who opened a cross border account lately, what method did you use to initially make a deposit to the account? Do you just call the cross border number and have them make a transfer from the TD canada chequing account to the TD Bank US checking account?
I have a U.S. Daily Interest Savings account with TD Canada Trust. I just deposit USD in that account and then call up the cross-border line and ask them to transfer the money to my TD Bank account. (Fee is US$1.25 for debit transactions on the U.S. Daily Interest Savings account.

If you transfer money from a CAD account, you'll pay TD's very unfavorable f/x rates.
Sr. Member
Dec 16, 2017
822 posts
297 upvotes
Raincouver
Wallboy wrote:
Jul 2nd, 2018 7:47 am
For those who opened a cross border account lately, what method did you use to initially make a deposit to the account? Do you just call the cross border number and have them make a transfer from the TD canada chequing account to the TD Bank US checking account?
I pushed payment from a local bank in WA as the routing/acccount number were given to me initially. Or some people mail a cheque (if you don't currently have an American bank acct)
Newbie
Oct 3, 2009
67 posts
18 upvotes
efrant wrote:
Jul 2nd, 2018 7:58 am
I have a U.S. Daily Interest Savings account with TD Canada Trust. I just deposit USD in that account and then call up the cross-border line and ask them to transfer the money to my TD Bank account. (Fee is US$1.25 for debit transactions on the U.S. Daily Interest Savings account.

If you transfer money from a CAD account, you'll pay TD's very unfavorable f/x rates.
I'll probably do that then, I set up a TD Unlimited Chequing and also a US Daily Interest Savings last week. Then I set up a TD Bank US Convenience Checking account at my branch. It was the first time they did it in person so it the process was a bit lengthy and confusing as I had to do the majority of the talking to the TD Cross Border people over the phone while there.

I didn't catch everything she said about what the process of activating the account was. What I remember is that she said I had 30 days to fund the account, and to disable the paper statements on EasyWeb at the TD Bank US side of things. I also filled out that W8 form they faxed over while I was setting up the account basically stating I wasn't an American citizen for US taxes and yada yada. My local branch then said they'd fax/send that document back to them.

Will I be getting any documents from TD Bank US? I read earlier in the thread something about a "Welcome Kit"? I also don't see my US account in the TD Canada Trust EasyWeb yet. I guess that happens after the US account is activated?

I'm also getting the US Debit card and I seen you can also transfer from your Canadian to the US account via Visa Direct that way.
Deal Addict
User avatar
Jan 4, 2011
1172 posts
959 upvotes
Montreal
Wallboy wrote:
Jul 3rd, 2018 3:16 am
I'll probably do that then, I set up a TD Unlimited Chequing and also a US Daily Interest Savings last week. Then I set up a TD Bank US Convenience Checking account at my branch. It was the first time they did it in person so it the process was a bit lengthy and confusing as I had to do the majority of the talking to the TD Cross Border people over the phone while there.
For anyone else reading: if you already have an account with TD Canada Trust, it's much easier to open a TD Bank account over the phone. It takes literally less than 10 minutes.
Wallboy wrote:
Jul 3rd, 2018 3:16 am
I didn't catch everything she said about what the process of activating the account was. What I remember is that she said I had 30 days to fund the account, and to disable the paper statements on EasyWeb at the TD Bank US side of things. I also filled out that W8 form they faxed over while I was setting up the account basically stating I wasn't an American citizen for US taxes and yada yada. My local branch then said they'd fax/send that document back to them.
Yes, you have to fund the account (with at least US$100 if you want to avoid paying the monthly fees) within 30 days. It's very easy to transfer money from TD Canada Trust to TD Bank. Just call up the cross-border number, and they will take care of it.
Wallboy wrote:
Jul 3rd, 2018 3:16 am
Will I be getting any documents from TD Bank US? I read earlier in the thread something about a "Welcome Kit"?
There's no real welcome kit, but you do get a little package of info that your Visa Debit card comes in.
Wallboy wrote:
Jul 3rd, 2018 3:16 am
I also don't see my US account in the TD Canada Trust EasyWeb yet. I guess that happens after the US account is activated?
Once you get your Visa Debit card, you can create an online profile with TD Bank and use their online banking interface. If you want to see your TD Bank account in your TD Canada Trust EasyWeb, you need to call the cross border number (option 1) and ask them to link your accounts.
Wallboy wrote:
Jul 3rd, 2018 3:16 am
I'm also getting the US Debit card and I seen you can also transfer from your Canadian to the US account via Visa Direct that way.
It's easier just to call the cross-border number and transfer funds that way. Visa Direct takes longer, and the fees (while reimbursed) are charged if you do a transfer using Visa Direct, vs. being waived if you do it over the phone.
Newbie
Oct 3, 2009
67 posts
18 upvotes
I should have mentioned that I first tried applying online and got a "Identity could not be verified" at one of the steps. After calling the cross border number they said the only way to do it was to go down to my branch and have them call the cross border people on my behalf to verify my identity and proceed with setting up the account. Definitely was a bit annoying as the process took nearly an hour since it was the first time they've ever done it over the phone at my branch. But at least I guess I don't have to send the W8 form stuff myself, as the bank did that for me. Did you get a W8 form in the mail that you had to send back yourself?

Also they set up my EasyWeb account while I was there, so I have access to the TD Bank US EasyWeb already as well. The checking account has the status of "PHONE ACCOUNT-HOLD-SEE SM" currently. Whatever that means.

I'll transfer some funds to my USD Savings account and call the Cross Border number later today to have the account loaded and ask them to link my accounts. Do they provide the routing number of the account over the phone? I couldn't find it in EasyWeb and I don't want to order checks just to get that number.

Thanks again for all the information.
Deal Addict
User avatar
Jan 4, 2011
1172 posts
959 upvotes
Montreal
Wallboy wrote:
Jul 3rd, 2018 7:55 am
I should have mentioned that I first tried applying online and got a "Identity could not be verified" at one of the steps. After calling the cross border number they said the only way to do it was to go down to my branch and have them call the cross border people on my behalf to verify my identity and proceed with setting up the account. Definitely was a bit annoying as the process took nearly an hour since it was the first time they've ever done it over the phone at my branch. But at least I guess I don't have to send the W8 form stuff myself, as the bank did that for me. Did you get a W8 form in the mail that you had to send back yourself?
Yes, about a month or so after my account was setup, I received the W8 form from them, and I filled it out and mailed it in.
Wallboy wrote:
Jul 3rd, 2018 7:55 am
Also they set up my EasyWeb account while I was there, so I have access to the TD Bank US EasyWeb already as well. The checking account has the status of "PHONE ACCOUNT-HOLD-SEE SM" currently. Whatever that means.

I'll transfer some funds to my USD Savings account and call the Cross Border number later today to have the account loaded and ask them to link my accounts. Do they provide the routing number of the account over the phone? I couldn't find it in EasyWeb and I don't want to order checks just to get that number.

Thanks again for all the information.
I'm not sure about the routing number. For me is was on the confirmation screen when I applied for the account. But I'd assume they'd give it to you. Anyway, the cross-border team (on the Canadian side, i.e., option 1 when you call the cross-border phone number) is really helpful. Just say you want to transfer money to your TD Bank account (they call it a me-to-me transfer).
Newbie
Oct 3, 2009
67 posts
18 upvotes
efrant wrote:
Jul 3rd, 2018 8:34 am
Yes, about a month or so after my account was setup, I received the W8 form from them, and I filled it out and mailed it in.
But the account was fully activated before then? You were able to use the account for deposits/withdrawals before they got the W8?

Top