- Platinum Member
- Posts: 52
- Joined: Fri Jan 25, 2013 3:10 am
- Location: San Bruno
My primary Canadian bank is where I got my start in American banking: RBC Royal Bank has an option for Canadian account holders to open a separate US-based chequing account (eventually also savings and money market as well). The chequing account isn't free (it's part of the package deal to link your Canadian and US accounts together), however, but transfer of funds between the US chequing account and my Canadian RBC accounts is free (if I can save $60 per wire transfer, and I transfer once a month to pay off Canadian CCs, I'd do it, right?).
IIRC, most Canadian banks with American subsidiaries (RBC, TD, and BMO) offer or are planning to offer something similar; you can even apply and obtain an American credit card through them (as in issued by their US subsidiary, as opposed to one that's issued by a Canadian bank where all transactions are in US dollars - it is a crappy 0.5% rewards card). I got denied by them for the American CC, though. (This was an era where I knew that I'd be moving to the US from Canada to work, and wanted my banking situation to be cleared up before I actually stepped foot in America.)
That's when they recommended me to a true American bank for which they can use my Canadian credit history to establish American credit (or so they claimed; I have now discovered that it was a lie). That's why I bank with Bank of America on their recommendation.
So for day-to-day these days, I bank with BoA. Long term investments are such is with RBC; I still tend to trust Canadian banking more than I do American banking. Perhaps it's because I find Canadian banks warm and fuzzy while I find American banks cold and desolate...
Current Credit Scores:
VantageScore 3.0 - 760 TU, 764 EX (11-19-16, Credit Karma)
FICO 8 - 747 EX (10-22-16, AmEx statement)
Discover - 750 TU (11-4-16, Discover statement)
Current Credit Cards:
RBC - $8000 CAD
BoA - $13500 USD
Capital One - $2750 USD
AmEx BCE - $4000 USD
Discover It - $8000 USD