posted on November 2, 2000 02:52:26 PM
I have a US account at my local bank but I am thinking of opening an account across the border - this would enable my Billpoint transactions to be deposited without the cost of exchanging into CDN $. What is the process involved for a Canadian wanting to open a checking account in the US? What will I need to do in order to open one? Any drawbacks if I were to do this?
posted on November 2, 2000 03:41:36 PM
Shop around for one that won't charge you service charges. The one that I use requires $100.00 minimum balance and I get no service charges for deposits or Debit card use. I have a monthly limit on cheques--but I don't use those. The bank that I'm using is called Sterling Savings--I know they have branches in Washington and Idaho--but not sure about other states.
You need to take picture ID and a credit card---they will do a credit check on you when you apply and you are required to sign a non-resident form that they forward to some US govt office. You do not get any interest on your account as a non-resident.
The Debit Card or Check Card I get has a Visa Logo on it and can be used as a Visa Card online or in stores---but gets it funds from your account--it isn't a credit card.
I went to the bank myself---but I know of some people who have done all this via phone and online---though they have to send ID items and other things to the bank--and these might have to be notarized.
I did have problems using the card though---something to do with a Canadian mailing address and not being able to verify it in the way they do it with USA credit cards when you make a purchase. But I got a Post Office box for $14.00 a year and the bank changed my mailing address to that and now the card works fine. They said it was something they and the credit card companies were working on as far as fixing the problem--don't know if they have or not
posted on November 2, 2000 03:59:34 PM
Thanks Zazzie!
This is just what I was looking for. I looked it up on the internet and see they have a branch in Blaine, WA which is really close to were I live. I really appreciate your help
posted on November 2, 2000 04:20:17 PM
We must live really close to each other---I am using the branch in Point Roberts, WA---no border line-ups and the post office is right across the street from the bank
