Whether you're a seasonal visitor to the United States, a student, or a professional living and working there, chances are you've come across some difficulty navigating the American banking system. There are many differences between the ways you can bank in Canada, compared to the U.S. By being aware of what they are, you can save time and money.
Post-dated cheques are not honoured in the US. If a post-dated cheque is deposited earlier than you intended, it will come out of your account at that time. This could cost you Non Sufficient Funds (NSF) charges, if you're not aware.
Utility bills can not be paid at banks or ATMs - only by cheque or credit card, or through online banking, directly to the utility company.
Processing a cheque in the U.S. is often much slower than in Canada. Here, a cheque often clears in one day, but in the U.S., it can take up to 5 days.
RBC Bank’s Cross-Border Banking solutions allow you to transfer funds between your Canadian and U.S. RBC accounts without having to pay wire transfer or foreign transaction fees. You can also manage your accounts on both sides of the border through online banking, access your money in the U.S. through an extensive network of ATMs, and write and cash cheques in the U.S.
And, unlike many other U.S. lenders, RBC Bank lets you use your Canadian credit history to obtain U.S. financing. Our team of cross-border mortgage specialists will guide you through the process and make it as easy as possible. All great things to consider if you need advice on banking on both sides of the border. For more information, speak with a cross-border specialist, or visit any branch in Canada.