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Email this5:32 am
March 3, 2022
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So I've been exploring various USD accounts offered by banks and thought I'd post my findings here for a very quick reference without having to go through lots of text on blogs or comparison sites.
I hope to edit this post as I find more, and encourage everyone add more (or even this awesome forum to have a permanent comparison chart just for USD accounts!) Thank you!
All in USD. Errors and omissions expected!
CIBC
CIBC US$ Personal Account
Online application: Yes
Monthly Fee: $0
No Monthly Fee If Minimum Balance: N/A
Free Debit transactions: 0
Transaction Fee after free: $0.75
All transactions free if minimum balance: N/A
RBC
RBC U.S. High Interest eSavings
Online application: Yes
Monthly Fee: $0
No Monthly Fee If Minimum Balance: N/A
Free Debit transactions: 1
Transaction Fee after free: $3
All transactions free if minimum balance: N/A
SCOTIA
Scotia U.S. Dollar Daily Interest Account
Online application: No
Monthly Fee: $1
No Monthly Fee If Minimum Balance: $200
Free Debit transactions: 2
Transaction Fee after free: $1.25
All transactions free if minimum balance: N/A
TD
U.S. Daily Interest Chequing Account
Online application: Yes
Monthly Fee: $0
No Monthly Fee If Minimum Balance: $0
Free Debit transactions: 0
Transaction Fee after free: $1.25
All transactions free if minimum balance: $1500
BMO
U.S. Dollar Primary Chequing Account
Online application: No
Monthly Fee: $0
No Monthly Fee If Minimum Balance: N/A
Free Debit transactions: 0
Transaction Fee after free: N/A
All transactions free if minimum balance: $1,500
8:53 am
November 8, 2021
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A long while back, I was looking at Icici Bank as an option. I found out accessibility to info about setting up an account with them was cumbersome and long. I didn't like that, so I just dropped it.
9:02 am
May 28, 2013
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Thanks for this. But I note that you include just the big banks, and do not include interest rates. I would hope that any USD comparison chart would include such info.
Top of my list (currently) would be the $US account at EQ which is paying 1.0%.
9:11 am
November 8, 2021
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rhvic said
Thanks for this. But I note that you include just the big banks, and do not include interest rates. I would hope that any USD comparison chart would include such info.Top of my list (currently) would be the $US account at EQ which is paying 1.0%.
If it suits you, Tang has GIC rates that pay more than 1%.
9:22 am
March 3, 2022
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rhvic said
Thanks for this. But I note that you include just the big banks, and do not include interest rates. I would hope that any USD comparison chart would include such info.Top of my list (currently) would be the $US account at EQ which is paying 1.0%.
You're right. My primary motivation was big banks with physical branches/ATMs from where one could withdraw and deposit USD currency as well, and what were the cheapest to open and maintain. (Online banks are also in my todo list.)
(As for Interest rates, they keep changing, so it wasn't my main focus, but I can see that since this is the "high interest savings" site, I should have.)
Meanwhile, if you'd like please feel free to add EQ's info and I'll update the post.
9:32 am
March 3, 2022
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I just realized that you cannot edit the original post after a while on this site.
I wish we could do that so that I could update the post for quick reference (which was the whole point).
10:36 am
December 20, 2016
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iotama said
I just realized that you cannot edit the original post after a while on this site.
Limited time for editing is a security measure to maintain the integrity of Forum threads. If edits would be made to posts that already received responses and comments, the thread could become incomprehensible.
Simply post a response to the thread with your updated information. You could even refer to the original post number with the thread to add context to your reply.
This is a common procedure in Forums.
Regards,
Stephen
3:13 pm
September 20, 2016
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In reply to Iotama's original post - I use RBC's cross border banking - a Savings account paying .15 -.20 (I know - not great but no fee if over $1000 balance) combined with their no fee US Visa with reward points - which I redeem for US Amazon gift cards). Can transfer from my on line Cdn RBC instantly to US RBC Georgia - no US address required.
https://www.rbcbank.com/cross-border/us-bank-accounts/preferred-money-market-savings.html
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