Personal Finance

Best USD Account for Canadian living in US?

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  • Jun 3rd, 2016 1:32 am
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[OP]
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Jan 31, 2005
345 posts
3 upvotes

Best USD Account for Canadian living in US?

I know theres a some-what similar thread from 2015 but things change and its not entirely accurate.

I'm in the military, getting posted to the united states later this year for about 4 years.

I'm going to get paid in canadian$ and have to convert it over to USD, which I find silly, but anyway.

What banks are my best option for this? All feedback appreciated :) .

Thanks

Edit:

I don't intend on using cash as I will keep my purchases to Credit card transactions as much as possible, so my transaction amount should be low.
2 replies
Deal Fanatic
Nov 22, 2015
5781 posts
5283 upvotes
Fyro wrote: I know theres a some-what similar thread from 2015 but things change and its not entirely accurate.

I'm in the military, getting posted to the united states later this year for about 4 years.

I'm going to get paid in canadian$ and have to convert it over to USD, which I find silly, but anyway.

What banks are my best option for this? All feedback appreciated :) .

Thanks

Edit:

I don't intend on using cash as I will keep my purchases to Credit card transactions as much as possible, so my transaction amount should be low.
Probably try RBC. They have something called Cross-Border banking. http://www.rbcroyalbank.com/usbanking/
Deal Addict
Jan 24, 2015
1021 posts
308 upvotes
Canadian in USA
Don't use the regular banks for the exchange. Use something like VBCE or Canadian Forex.

You can open a regular bank account in the US. Look at the smaller banks and credit unions to see if you can find a no fee account. West Coast banks like Banner will help you out.

You can look into US credit cards as well. Benefits are much better. You can get 2% cash back from CITI Double Cash, and 1.5% back is common.

If you intend to use a Canadian credit card make sure and use one with no foreign transaction fee like the Amazon card.

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