Top 10 U.S. banking tips
Key things to know that will make your financial life run a little smoother when you’re in the States.
- You can only pay your U.S. bills in U.S. dollars, so setting up a U.S. checking account is a must. Generally, Canadian checks, regardless of the currency, are not accepted in the U.S. Typically, only checks drawn on a U.S. financial institution are accepted.
- In the U.S., you can use your U.S. Visa‡ Debit card to get cash back when you make debit card purchases at many retailers – typically, larger retail merchants such as grocery stores.
- With RBC Bank’s Online Banking, you can transfer funds for free, instantly, between your RBC Bank (U.S.) and RBC Royal BankTM (Canadian) accounts.
- Enrolling in online eStatements for your checking and savings accounts gives you secure and convenient access to your statements anytime, anywhere. It’s a safer alternative to having paper statements sitting in your postal mailbox while you’re traveling.
- Mobile Canadians love U.S. Remote Deposit1! It lets you use your smartphone or your computer and scanner to deposit U.S. dollar checks into your U.S. account from anywhere.
- If your dream is to purchase property in the U.S., don’t wait. Choose a financial partner who understands Canadians and the unique challenges you face in the U.S. Only RBC Bank will look at your Canadian credit history and your RBC Royal Bank history to help you secure a mortgage.2 And our dedicated team of
Cross-Border Mortgage Specialists will walk you through each step of the process, which is different than what you may have experienced in Canada.
- Your best financial partner is one who is dedicated to helping Canadians in the U.S. and is thoroughly knowledgeable about the unique needs associated with banking on both sides of the border.
- Did you know? An international wire transfer between the U.S. and Canada costs around $75 per transaction. With a checking account from RBC Bank, you’ll enjoy instant transfers between your RBC Bank (U.S.) and RBC Royal Bank (Canadian) accounts, virtually eliminating your need for U.S./Canada wire transfers. For Preferred Checking clients, that means the savings you’ll get from only four international wire transfers will more than cover the monthly fees you’ll pay over an entire year! Let's do the math.
- Typical International Wire Transfer (one-time) = $75
- RBC Bank Cross-Border Transfer = $0
- One Year Preferred Checking Fees = $239.40
- TOTAL CLIENT SAVINGS AFTER FOUR TRANSFERS = $300
- Run with the leader. RBC Bank is a wholly-owned subsidiary of the Royal Bank of Canada, Canada’s largest bank and one of the largest banks in the world, based on market capitalization. For more than a decade, RBC Bank has offered U.S. cross-border banking solutions to fulfill Canadians’ stateside banking needs.
- An on-the-go lifestyle demands a complete set of the best financial tools: a U.S. checking account; Online Banking & Bill Pay; eStatements; U.S. Remote Deposit; free, instant transfers between your U.S. and Canadian accounts; and credit and debit cards accepted worldwide.
‡ All other trademarks are the property of their respective owners.
1 Deposit limits may apply. See full terms and conditions for details.
2 All loans and lines of credit are subject to approval.