How hard is it to set up and use a US Chequing Bank account?

[FearSonic]

If I live in Toronto? Are there any fees for this kind of account? Can I get one from say.. Scotiabank? It's for having a US fund account.

[BlackEros]

You need a U.S. social security to set up a bank account.

[BlackEros]

O sorry didnt fully read your post I thought you meant an account in the U.S. I don't know about the U.S. accounts from the Canadian banks although my friend did try to get one at Royal bank and they asked him for a U.S. social I don't remember if he got the account or not.

[FearSonic]

Hmm.. how about just a way to have US cheques? I just pretty much need the routing number and what not, the Canadian cheques don't work the same.

[StrayB]

There's RBC Centura (http://www.rbccentura.com/). They offer several US based chequing/savings account for Canadians. Some of the accounts don't have a monthly fee if you maintain a minimum balance. I'm in the process of setting one up... but it hasn't been easy (long story). Apparently, they require a US address; I used a relative's address.

If you do plan on getting a account with RBC, I suggest you do it online or over the phone. The two RBC branches in my area aren't too familiar with the process, so it's been real slow setting it up. (I applied in September... gave the US address last week... no joke).

There's also a thread in the finance forum about USD accounts.

[FearSonic]

Oh okay thanks, and what kind of minimum balance are we talking about here?

[DragonZealot]

I submitted my RBC Centura application for a US checking account at a RBC branch here 2 weeks ago (did not provide US address) and still waiting. I saw my initial deposit was debited from my Canadian bank account 2 days ago but no word from RBC.

They need a $700 in a basic account to waive the monthly charge. The premium account ($2500 balance) gets you free US VISA credit card.

[FearSonic]

Is there anyway to setup a different account on my ING to act like a US bank account? As in it will provide me with a chequing number and what not and I can transfer funds into it? I just want to be able to transfer my stormpay money. From a chequing account. =(

[Arrow]

Is there anyway to setup a different account on my ING to act like a US bank account? As in it will provide me with a chequing number and what not and I can transfer funds into it? I just want to be able to transfer my stormpay money. From a chequing account. =(

As long as the US Acct is based in CANADA (not based on the bank's American subsidiary), and you have cheques with preprinted headers, you can link it up with ING.

[FearSonic]

But then the cheques wouldn't have the routing numbers and what not at the bottom like the american cheques right? That's what i need. =/

[Arrow]

But then the cheques wouldn't have the routing numbers and what not at the bottom like the american cheques right? That's what i need. =/

I'm not sure if this answers your query, but...

ING Canada can only link up to Canadian based accts (whether the funds are in CDN or USD).

ING USA can link to US based bank accounts. But you'll need a SSN in the USA to open a ING USA account.

[FearSonic]

Alright, darn, so I'll need to find another way to transfer money around. =/

[Spent]

You need a U.S. social security to set up a bank account.

NOT TRUE

I've had an account with a US bank for over 5 years
They even sent me a visa (debit) card I can use for online US purchases

[Arrow]

NOT TRUE

I've had an account with a US bank for over 5 years
They even sent me a visa (debit) card I can use for online US purchases

Correct. You can even apply for a US based visa credit card without a SSN and have them just check Equifax for your credit rating.

[FearSonic]

Wow, how'd you get a US bank account? Where'd you get it? Which bank? Is there a minimum balance?

[DragonZealot]

Just got my RBC Centura checking account, no SSN or US address required. I can now transfer funds from RBC Canada to RBC Centura. I also got a free Visa credit card (not the charge card). Only downside is you have to maintain a balance of 2.5K.

[FearSonic]

Haha, that's a little over my limit. Thanks anyway.