Bank accounts in Canada

[Soulmates513 3]

Thank you everyone! Everyone had such valuable information - love this site!! I'm most definitely going to check out Customhouse too! Much appreciated once again.

[Kimbear 53]

If you have a Presidents Choice Account--if u tell them ur moving to the USA, they will want you to close the acct!! I just changed the addy to my parents!!

I think most banks have online access!! So checking the acct is no big deal!

If you make so much interest, it has to be reported. Of course banks give such low interest on ur normal chequing acct, its prob not going to happen,lol I think 1 has to make like $10. You would be better off taking it to the USA and putting it into an acct like ING, but their interest rate is like 1.3% (Just a few yrs back it was over 4%)

When ir comes to USA banks--like car insurance, health insurance, etc etc etc, you really have to shop around to get the best deal that suits you. I think bank of america just announced as of Jan 2012, they are going to charge ya $5 a month to use their debit card! No clue if u keep a min amt in ur acct it gets waived! We love USAA!! cheers

yes BOA will charge the 5$, and from what i read most other banks will follow, but i honestly heav never used my bank card as a debit card here in the usa. very different that from Canada, I just use it as a Visa card which is way easier.

[sheeshkabelle 153]

We use RBC, it makes life easier for hubby to send money to me. He has the interact card to the account, I have the Visa Check Card. You do have to keep a minimum balance, at the time we opened ours it was $1,000.00 in the savings. The only hassle is the closest branch to me is in North Carolina. I have a local credit union account that I use to deposit checks/money if I have to.

One reason we use RBC is they will use his Canadian credit history, where he will have to rebuild credit in the US when he gets here. (we are seriously considering refinancing our house with the lower interest rates at RBC.)

RBC banking for Canadians

[dukeandduchess 141]

Once you leave Canada that is a moot point since yoru no longer entitled to those deposits for GST. And chances are you wont be doing anymore Canada tax returns.

Like I said, I get federal tax returns there too. I'm moving in January so I will have my tax refund April-ish of 2012, and if I work any days in January I'll have to file taxes in 2013 also. It'd be a major hassle for me to get all of these things changed before I go, and having someone POA on my account makes it a bit less stressful for me because I can decide once all of my affairs in Canada are wrapped up.

That and I have a money back visa card that issues the money back in November of each year so I'd need it for a while (since I plan on using it until I get a bank acct set up).

This may most definitely be a moot point for some, but not for others

[Flames9_RN 358]

I simply gave my parents a second debit card. They are somewhat trustworthy,lol

[Stuart and Thea 95]

If you have a Presidents Choice Account--if u tell them ur moving to the USA, they will want you to close the acct!! I just changed the addy to my parents!!

I was planning on doing the same thing, because I have a nice emergency credit line, and would have to pay it off in full if I move out of the country otherwise!

I simply gave my parents a second debit card. They are somewhat trustworthy,lol

Does PC financial allow a second card? (figured I'd ask you rather than call them and let them get on to me!)

[Flames9_RN 358]

I was planning on doing the same thing, because I have a nice emergency credit line, and would have to pay it off in full if I move out of the country otherwise!

Does PC financial allow a second card? (figured I'd ask you rather than call them and let them get on to me!)

Only if that person is on your acct!! My parents are not on my acct. Thus they have my only card! For me its no big deal as when I go back to Canada, its to see them. But I could just put my parents on the acct and thus they could get a card.

[Stuart and Thea 95]

okay, seeing as how my last paycheque won't be available until AFTER I'm in the US, I'll HAVE to leave the card with my parents, (so they can deposit my cheque of course!)

(#######.. do I really have to start writing check soon? Is it a prerequisite of living in the US or anything?)

[Flames9_RN 358]

okay, seeing as how my last paycheque won't be available until AFTER I'm in the US, I'll HAVE to leave the card with my parents, (so they can deposit my cheque of course!)

(#######.. do I really have to start writing check soon? Is it a prerequisite of living in the US or anything?)

I usually still write cheque and get away with it,lol