Canadian getting a bank account in US
- Thread starter Labonbom
- Start date
After 9/11 there have been many changes in the banking system. People from other countries can’t just open a bank account. Need to be a resident, student, etc. Strict rules are in place because of the patriot act to prevent money laundering and funding terrorism. That’s why it’s not something some can easily do.
RBC have cross border account, work really well. especially if you need a US credit card, separated from your main Canadian card, for stuff like OnlyFans.
Sure, but that’s not the topic. Of course if you have a bank account in Canada you can take out funds in the US. But you wouldn’t be able to open an account in the US and that’s what my response was for.
My answer should have been on the initial thread, not your answer, but RBC Cross border account, give you a US Based account at RBCBank US, and a canadian account at the Royal Bank Canada.
This is not only pulling US money out of your Canadian account, any bank does that
It is not true that a Canadian citizen cannot open a US bank account I had one for 5 years in Florida.
At first simply so that I would not need to carry a pile of cash every year for a vacation and to pay a mortgage on a condo.
Later I found it to be useless for paying bills as I could just as easily do it from here with a US checking account ( with a canadian bank).
The banking fees were also a pain in the ass so was driving 10 minutes to withdraw cash.
I cancelled after 5 years and went back to taking a minimum amount of cash and using a US dollar Canadian credit card for most purchases.
Because I used a US funds credit card I could pay it off from my Canadian US checking account and this way I incurred no banking or exchange fees.
There is not much need for having a US banking account that I can see.
At first simply so that I would not need to carry a pile of cash every year for a vacation and to pay a mortgage on a condo.
Later I found it to be useless for paying bills as I could just as easily do it from here with a US checking account ( with a canadian bank).
The banking fees were also a pain in the ass so was driving 10 minutes to withdraw cash.
I cancelled after 5 years and went back to taking a minimum amount of cash and using a US dollar Canadian credit card for most purchases.
Because I used a US funds credit card I could pay it off from my Canadian US checking account and this way I incurred no banking or exchange fees.
There is not much need for having a US banking account that I can see.
If your replying to my post (if not forget the first part) earlier I didn’t say a Canadian citizen couldn’t open an account in the US, I did say it’s something that is mot easily done. A US social security card is needed which cancels out many people and without it you would need a individual tax ID number as well as a US based address. So there certainly are scenarios when it’s possible. I said earlier that 9/11 changed banking as well as the banking reforms after the 2008 crash. It’s possible before these dates a US Bank account was easy to be had. That’s not the case anymore.
Can a foreigner open a bank account in the US?
Want to open a US bank account as a non resident? It’s not easy to open a bank account in the US, but there are a few ways to try. Read on to find out how.
wise.com
You are correct it was a lot easier before 9/11,
I was replying to Labonbom not you.
If you have property in the US and you have an ITIN number ( number required for filing US taxes) it is not that difficult to open one.
I have an ITIN number as I have been filing US income tax for a number of years on income property. You also need it when selling property if you ever want to see any of the 15% with holding tax.
I was replying to Labonbom not you.
If you have property in the US and you have an ITIN number ( number required for filing US taxes) it is not that difficult to open one.
I have an ITIN number as I have been filing US income tax for a number of years on income property. You also need it when selling property if you ever want to see any of the 15% with holding tax.
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