FREE USD Chequing Accounts | Page 2 | General financial discussion | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
FREE USD Chequing Accounts
November 27, 2022
2:30 pm
Doug
British Columbia, Canada
Member
Members
Forum Posts: 3934
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline

davidgeorge said
I have a CIBC US$ personal account: no monthly fee, no minimum amount requirement and $0.75 per transaction. You have to pay to get a cheque book.

https://www.cibc.com/en/personal-banking/bank-accounts/savings-accounts/us-personal-account.html  

That account does appear to be issued by CIBC in Canada, whereas the one discussed above is a cross-border account issued by CIBC Bank USA, N.A.

There is also one free USD chequing account, with free cheque orders. The HSBC Premier package includes up to five (5) free Premier chequing accounts in CAD or USD currency, and free cheque orders on each. The caveat, though, is you must maintain a $100,000 Total Relationship Balance in all of your HSBC Canada banking and/or investment accounts to avoid either (a) a $28/month package fee or (b) being downgraded to their standard retail banking package, such as Performance Chequing Unlimited.

https://www.hsbc.ca/content/dam/hsbc/ca/global/hsbc-personal-service-charges-statement-of-disclosure-en.pdf

Another caveat is that HSBC Holdings plc is currently auctioning off HSBC Bank Canada to potential bidders, so there is a strong likelihood the bank may will be absorbed by a Big Five Canadian bank, or have its assets and branches split among two or more acquiring Canadian banks.

Cheers,
Doug

November 27, 2022
3:13 pm
Norman1
Member
Members
Forum Posts: 5706
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

savemoresaveoften said

Mine is the US$ personal which is still Canada based.

The one that is based on the CIBC US banking unit is called the CIBC Bank USA Smart Account, which is "relatively" new. That account really only caters to snowbirds or those that has significantly US banking activities.

My question was more about the account's cheques and not where the CIBC US$ Personal Account is based.

Are the cheques printed, starting December 2011, now drawn on a financial institution in the US so that they can clear through the ACH system in the US?

That would be great if the payee is in the US and can now just deposit it like a regular US cheque. Not so great if payee is in Canada and trying to deposit it into a US$ account at a Canadian bank.

November 28, 2022
8:04 am
skibum
Member
Members
Forum Posts: 21
Member Since:
September 20, 2016
sp_UserOfflineSmall Offline

I use the RBC US Bank Money Market A/C (no fee if over $1000) with a US RBC no fee Visa credit card. Pay everything with the credit card & earn rewards. Instantly transfer from my Cdn RBC acct. when exchange rates are favourable. No credit checks for the Visa - it's based on your Cdn history. Have never paid a fee.
https://www.rbcbank.com/cross-border/us-bank-accounts/preferred-money-market-savings.html
https://www.rbcbank.com/cross-border/us-credit-cards/visa-signature-black-card.html

November 28, 2022
11:03 am
JohnnyCash
Member
Members
Forum Posts: 188
Member Since:
April 21, 2022
sp_UserOfflineSmall Offline

skibum said
I use the RBC US Bank Money Market A/C (no fee if over $1000) with a US RBC no fee Visa credit card. Pay everything with the credit card & earn rewards. Instantly transfer from my Cdn RBC acct. when exchange rates are favourable. No credit checks for the Visa - it's based on your Cdn history. Have never paid a fee.
https://www.rbcbank.com/cross-border/us-bank-accounts/preferred-money-market-savings.html
https://www.rbcbank.com/cross-border/us-credit-cards/visa-signature-black-card.html  

Thanks for the tip on the no-fee RBC USA credit card. Being an existing RBC Canada client made applying online simple and easy. Been looking for a no-fee US based credit card and wasn't seeing anything interesting. Assuming it gets approved, it should work nicely with the free no-fee CIBC US account that has Bill Pay functionality. I'll watch to see if I get a hard credit check inquiry, not that I'm doubting what you wrote, or for that matter care.

No permission to create posts

Please write your comments in the forum.