CAN-US Cross Border Banking Solutions | General financial discussion | Discussion forum

BlueSky said
For a long while I was with RBC on both sides of the border. While RBC US didn't change their terms as of yet, I got notified that RBC CAN is going to charge a monthly fee of $3.00 on their US eSavings account come August. It used to be fee free. I have two questions:

1. Is there another cross border banking worth looking at? So far, CIBC is the least fee charging, least complicated (online setup, no advisors, etc...) at $0.75USD/transaction, even cross border transfer to their U.S. side.

2. I don't believe it's currently possible without a wire fee, but transferring from the U.S. to a Canadian USD bank account. This is in the event I close both sides of RBC accounts. My option at this time is to pay 3-4 months the fee until a GIC matures in the U.S. and transfer over to the Canadian side.

I am OK with keeping the US account under the current terms, but should a transfer be necessary, wire fees will apply if transferring to a Canadian bank.

Thanks for your input.  

Are you referring to this notice which I found in my RBC Messages Inbox?

https://www.rbcroyalbank.com/o.....26_eng.pdf

Seems to me the USD $3.00 fee only applies to paper mailed statements which can be avoided by choosing to have electronic statements.