Accepting And Spending USD Money Online

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Jun 25th, 2016 4:05 am

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Jun 24th, 2016 9:44 pm

FreakyStories [OP]: Newbie; Jun 23, 2016; 37 posts; 14 upvotes; GTA

Jun 24th, 2016 9:44 pm

Accepting And Spending USD Money Online

What is the easiest way for me as a Canadian to open a banking account that allows me to accept money in USD (from US online companies), hold/keep it in USD without converting it, and will also allow me to then spend that money at US online stores (by giving me a credit card/credit debit card to make purchases)?

I see there are easy options to open Canadian-US accounts like the "RBC U.S. High Interest eSavings" -- except I don't think they offer credit/credit debit cards to go along with that account for making online purchases.

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Jun 25th, 2016 3:56 am

boyoflondon: Deal Fanatic; Nov 23, 2005; 8686 posts; 4886 upvotes

Jun 25th, 2016 3:56 am

TD Bank US will give you that. If you don't have an existing TD account in Canada, you can open up a no fee savings account which will allow you to get the account in the US. For the US side to issue you a credit card card, you'll need a US address.

Jun 25th, 2016 4:05 am

ace604: Deal Guru; Aug 8, 2012; 10198 posts; 4006 upvotes; BC

Jun 25th, 2016 4:05 am

FreakyStories wrote: ↑What is the easiest way for me as a Canadian to open a banking account that allows me to accept money in USD (from US online companies), hold/keep it in USD without converting it, and will also allow me to then spend that money at US online stores (by giving me a credit card/credit debit card to make purchases)?

I see there are easy options to open Canadian-US accounts like the "RBC U.S. High Interest eSavings" -- except I don't think they offer credit/credit debit cards to go along with that account for making online purchases.

boyoflondon wrote: ↑TD Bank US will give you that. If you don't have an existing TD account in Canada, you can open up a no fee savings account which will allow you to get the account in the US. For the US side to issue you a credit card card, you'll need a US address.

If you are near the border, go visit a US bank and open an account with a passport.

Otherwise TD or RBC. Both have USD accounts in Canada paired with additional native-US-located USD accounts that you can get as well.

The USD ATM card should be a "Visa Debit" which you could use in place of a Visa anywhere you normally would in stores/online.

If you have an Amex with at least 3 months of history you can initiate a "Global Transfer" and get approved for a US Amex based on your Canadian history.

POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)

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