TD or RBC?

[SF2007 48]

I am going back to Canada in May and I would like to take the opportunity to open a Canadian/US bank account. I looked into RBC and TD and I can't make up my mind. To the owners of either: do you like your bank? How convenient are their services? Are the money transfers between accounts easy? I need a basic checking/savings account with a credit card in CND who will let me access my money in the US or Canada, and allow money transfers, without charging me crazy fees.

I don't know any other banks who offer those cross border services, but if you know of any other, please let me know.

Thank you for your time

[Yssa3675 4]

I am going back to Canada in May and I would like to take the opportunity to open a Canadian/US bank account. I looked into RBC and TD and I can't make up my mind. To the owners of either: do you like your bank? How convenient are their services? Are the money transfers between accounts easy? I need a basic checking/savings account with a credit card in CND who will let me access my money in the US or Canada, and allow money transfers, without charging me crazy fees.

I don't know any other banks who offer those cross border services, but if you know of any other, please let me know.

Thank you for your time

Hi,

Personally i prefer RBC its very convenient, you can do the transfer online back and forth without fee. I opened the TD resently because my fiance moved to philly, so no RBC. For me, my inconvenient with TD is the transferring , you need to call and bunch of security questions unlike RBC you can do it yourself.

[JensJrny2Ray 367]

I haven't put my RBC USA account into good use yet, but I have it all set up online on one page: my Canadian and USA accounts. I can transfer between them easily.

[hikergirl 277]

I find that it’s easy to transfer between the US and Cdn accounts with RBC. I can use an app to deposit checks to the RBC US Account (there are other methods, but that’s the one we’ve used so far). You can use PNC bank machines for withdrawals. I generally just use my Visa Check Card for everything when I’m down there. The only negative is they don’t have branches in the US. I really like the on-line thing with them though.

I like that TD Bank has branches where I am going to be moving though and they are working towards making the whole cross-border banking easier. You can transfer money between accounts by calling in to a 1-800 number and you can view both accounts online from the same website at the same time now (just not transfer between them online yet). I just got the account so I don’t have much set up yet nor much experience with the system. My daughter used her canadian debit card to withdraw funds at a US bank machine with no fees so that was nice.

It all comes down to personal choice and what works best for you.

[Krikit 1,164]

TD is a little bit behind RBC in that they have yet to implement the online transfers.... but it's coming. Other than that, I can withdraw funds from either bank in either country with no service charge, and there is also no service charge for electronic transfers.... even if I do have to phone it in.

I went with TD because I was already banking with them. Others went with RBC because they were already banking with them. I would choose whichever bank is going to be the most convenient to your location when you get to the US because they're both comparable.

Oh, and I don't know about RBC in the US, but TD America is open 7 days a week. That's pretty convenient. lol

[NikLR 13,227]

I won't be living anywhere where a TD or RBC USA bank is... but I probably will go with RBC because of the online transfers.

One more thing to do... set up us/canada bank accounts. YEESH

[SF2007 48]

Thank you everyone for your time. I just realized I am as well nowhere near a TD or RBC atm. But I would really only use them for cash when I am visiting in Canada so I guess it doesn't matter all that much.

I guess my other option would be to transfer everything in the US and get a no foreign transaction fee credit card...

[JensJrny2Ray 367]

Thank you everyone for your time. I just realized I am as well nowhere near a TD or RBC atm. But I would really only use them for cash when I am visiting in Canada so I guess it doesn't matter all that much.

I guess my other option would be to transfer everything in the US and get a no foreign transaction fee credit card...

RBC USA is online only, so it doesn't matter where you live.

[NikLR 13,227]

I thought they had some actual branches in the east or south?

[hikergirl 277]

No they sold the branches to PNC and there’s an agreement that customers can use the PNC bank machines.

[SF2007 48]

Can you transfer money from your RBC account to another bank without too much fee/trouble? Like Transfer money from RBC to Bank of America and vice versa?

[Krikit 1,164]

No they sold the branches to PNC and there's an agreement that customers can use the PNC bank machines.

Ohhhhhhh.

/confusion

[Stubby and Rio 4]

I love my RBC USA account.....easy and convenient.....

[hikergirl 277]

Can you transfer money from your RBC account to another bank without too much fee/trouble? Like Transfer money from RBC to Bank of America and vice versa?

Not sure. I think I’d have a tendency to write myself a check to get it from one bank to the other because that’s what I’ve always done here.

[NYCbound 3]

My husband recently opened a TD US account and applied for a credit card to start building US credit (he is a dual citizen but has lived in Canada his whole life), and it was nothing but a hassle. They swore up and down they could use his Canadian credit history to get a card and he was denied (he has EXCELLENT credit) and they couldn't care less and said there was nothing they could do except have him apply for a US funds credit card, which does not build credit. The, he tried to put his first paycheck (actual check until direct deposit could be set up) and they refused to take off the 20 day hold because he was a "new" customer, despite having a substantial amount in the TD Canada account... Total headache, rude branch representatives, and many wasted hours.

We set up RBC account this week - totally seamless. He applied and was approved for a US credit card on the spot over the phone for a very high limit (he was denied a $300 credit card from TD btw). I was also approved separately - I only have to call in with my US SSN once I get it so I can start building US credit history myself. I linked the Canadian and US accounts together over the phone. Everything was SO easy and took less than 1.5 hrs for both of us to be set up with canadian and us account and credit cards - RBC hands down over TD.