Canadian bank accounts & credit cards

[misa 2]

I haven't changed my address with my Canadian bank account and credit cards. I have mail forwarding on all my mail to go to my sister's house in Toronto. Any advantage or disadvantage to changing to my U.S. address? Any problems I might encounter?

[Flames9_RN 358]

Depends on ur bank! Presidents Choice (PC) said once I moved to the USA, I could not keep my acct open with them, thus I just changed my address to my parents addy!! I cancelled all my credit cards so i dint have to worry baout them!

[together2love 0]

Some credit cards need to be notified when you are going to be using it abroad (even the the USA) so they are aware of it and don't assume fraud in cases where your card is used in the location of where you are now living. I had to do this for my RB visa, and I changed my address with my acct and had no problem.

[misa 2]

Ah, maybe I will keep the address at my sister's but I'll definitely notify them that I'll be using in VA. Thanks guys!

For my bank account, I'll just tell them I'm here in the U.S. "for a while".

[girl 37 7]

I changed my address (to the US) with the Royal Bank and haven't had any problems so far.

[derekkj 0]

Derek changed his address with RBC and no problems for him either.

[Mephys 2]

I had the same question for myself. But my issue is about my student loan. I didnt see anywhere that if I move to the US that the interests rate is going to increase, but I read it here from someone else and thaty person had to pay an insane amount of money.

Right now both my bank and credit card have my mom's adress so I think I will leave it like that until I get a job, then I will pay the balance off on my student loan and change the adress.

I'm scared to ask them cause then I would surely be flagged!

Mephys

[Kathryn41 3,205]

I changed all of the addresses for my credit cards and my bank accounts to my US address and also set up my bank accounts so I could access them through on-line banking. I do receive statements mailed here. I have not renewed the various credit cards (Sears, Canadian Tire, etc.) as they have expired, but I have renewed my Visa on the TD Canada Trust account and keep that one account open. I can transfer money from the account to pay off the Visa bill, if any, and while I don't have any bills outstanding, I could also use it to pay on any other bills in Canada. I did change it to the lowest fee account there is $3.95 a month. The convenience of having the account in Canada is worth it. Definitely notify them of your US address - it shouldn't be a problem.

Edited April 3, 2007 by Kathryn41

[Emancipation 2]

I read fine print on my CIBC account for my line of credit, it specifically states that if my address changes to a US address the full amount would be due and the account closed. So I would get a copy of the "rules" first for loans and lines of credits first before you change the address just to make 100% sure that they don't get you in the fine print upon moving to the US.

[misa 2]

Ugh... student loans. I'll change that address to my sister's addy in Toronto. I'll just pay them through online banking like I do now. Mine is also with CIBC, just the federal though. The provincial one was paid off a few years ago though the federal one is the huge one.

I still have a Toronto phone number since I use Vonage. I just took the router/adapter with me when I moved and plugged it into the network here.

Edited April 3, 2007 by misa

[Cassie 8]

I changed my address (to the US) with the Royal Bank and haven't had any problems so far.

Myself as well, and not a hitch here either. I set up my online banking account and got information about what do when I moved the US before I moved. When I went home to Canada for the first time after we got married, I took in my marriage certificate and had them switch everything over to my married name and new address. Been paying on my student loan successfully ever since!

I've been paying my Canadian Tire Mastercard online through Royal Bank online banking, and receiving the statements online through epost.ca . I still keep it in my maiden name and any other communications from them go to my parents' address. Being working for me since Nov 2004.

[piosenka 0]

I just want to say great topic! My fiance was wondering the same thing. He has an RB credit and bank account. If anyone has more feedback about any of this schtuff, keep goin!

[Marilyn. 340]

I added my mom to my bank account before I moved because she wanted me to keep it open because it would be an easy way for her to send me money.... so the bank account has my parents address right now.....

I did shut down the checking part because they charged a service charge each month.. the savings account only charges a service charge if you withdraw money from it.....

[piosenka 0]

I just thought of another question that kind of ties into this. What happens to a Canadian's credit after moving to the US? I'm sorry but I don't know what happens and whether or not credit scores are global or just per country, etc.... My Canadian fiance's credit is spotless and has insane credit limits and I would hate for him to take a hit after moving. He asked me a few minutes ago what would happen to his , and I didn't know how to answer!

[girl 37 7]

I had the same question for myself. But my issue is about my student loan. I didnt see anywhere that if I move to the US that the interests rate is going to increase, but I read it here from someone else and thaty person had to pay an insane amount of money.

Right now both my bank and credit card have my mom's adress so I think I will leave it like that until I get a job, then I will pay the balance off on my student loan and change the adress.

I'm scared to ask them cause then I would surely be flagged!

Mephys

The interest rates on my student loans (Royal Bank, BC Govt., and Canadian Govt.) have remained the same. I updated my address with all three. I think the main thing is that you can't get Interest Relief if you don't reside in the US.