Explore Cross-Border Banking Solutions for Canadians in the US (2024)

FAQs

What is the best U.S. account for Canadians? ›

Having all of your cross border banking services with Canadian financial institutions or banks and their U.S. affiliates is almost always a cleaner, easier and more cost effective option than opening additional bank accounts or credit cards in the U.S.

Yes, non-U.S. citizens can open a bank account in the U.S. When you open a bank account at Bank of America, you'll need to provide two forms of identification, a tax identification number and documents that show proof of both a foreign and U.S. address.

As a Canadian - can I even open a U.S. account? Yes! To open an RBC Bank U.S. account, you don't need to be a resident of the U.S., a U.S. address or Social Security number. You simply need to be 18 years or older and live in Canada or the U.S. Signing up takes just a few minutes.

The only U.S.-based bank specifically designed for Canadians

For 20 years, RBC has been providing secure and easy U.S. banking to over 450,000 Canadians who live, travel, shop and work in the U.S. We make cross-border banking easy and secure.

In cross-border financing, currency risk and political risk are two potential disadvantages. Currency risk refers to the possibility companies may lose money due to changes in currency rates that occur from conducting international trade.

BMO makes banking easy north and south of the border. Whether you're a frequent visitor to the United States or enjoy extended stays, we offer Canadians products and services that make cross-border banking seamless. Live, vacation, shop or study in the United States and have your financial needs met.

You can't use Zelle in Canada - it's for payments between US based banks only. Use this handy guide as a way to find alternative providers to make convenient, low cost, online and mobile payments to Canada.

Chase Bank is a U.S.-based financial institution that offers cross-border banking options for Canadians. You'll have the option to choose from several different accounts, so you can find something to suit your specific needs.

Can I deposit a Canadian check in the US Bank of America? ›

Yes, you can. However, this option isn't available for mobile check deposit so we'll need to see you in person. Please have your government-issued ID and the check available.

The Cross-Border Debit service is an easy and secure alternative to carrying large amounts of cash when you travel. All you need is your debit card and Personal Identification Number (PIN) to access your primary Canadian banking or savings account¹ and make purchases at any of the 1,000,000 merchants in the U.S.

Non-U.S. citizens without a U.S. issued taxpayer identification number must provide a government issued ID that provides evidence of nationality or residence.

You can take out U.S. cash from your Canadian or U.S. dollar account at any RBC ATM that offers U.S. cash. There's at least one at most RBC branches. When you need Canadian cash, you can choose $5, $10, $20, $50 or $100 bills (or any combination that adds up to your total withdrawal amount) at our branch ATMs.

Chase Bank is a U.S.-based financial institution that offers cross-border banking options for Canadians. You'll have the option to choose from several different accounts, so you can find something to suit your specific needs.

The NYCE Network

Three of the “Big Five” Canadian banks offer some sort of US debit card for Canadians. All of them use the NYCE network to allow you to shop in the US with your debit card.

HSBC US. HSBC US offers a Global Money Account in 8 currencies including CAD. It's free to open the account, although you'll need an HSBC deposit account to link to it. This account is operated entirely from your phone or mobile device, which will suit people who need to manage their money on the go.