Jump to content
Sign in to follow this  
VeeNDee

Good fee-free banks in Canada for after POE to US?

5 posts in this topic

Recommended Posts

So I left some money in my Bank of Montreal bank account in Canada after moving down to cover the last few auto payments coming out until I could finish up all that stuff. There's less than a thousand in my account and it was supposed to be free (I had the most basic account). Well I just found out I've been getting charged $10 a month for the past two years (not sure why no one notified me - I don't get statements and I haven't been using it so didn't think to look), which adds up to over $200 in fees! Come on now, that's ridiculous!! I phoned them and they didn't seem to care and just told me to close my accounts and they'd mail me a cheque - I tried to call my local bank to talk to them and only get the answering machine each time. Hooray... wish I could just pop by in person!

I need to transfer my money to another institution that won't do that kind of a trick to me - or maybe transfer it all down here? Isn't it a good idea to have at least one bank account available in Canada while you are a US resident for if something comes up?


VeeNDee

April 23, 2013 - AOS interview - Approved!

January 26, 2015 - Mailed off ROC Application

June 30, 2015 - 10 year greencard in hand

January 25, 2016 - N400 Application Mailed

May 11, 2016 - Citizenship Interview + same-day Oath ceremony!

Share this post


Link to post
Share on other sites

So I left some money in my Bank of Montreal bank account in Canada after moving down to cover the last few auto payments coming out until I could finish up all that stuff. There's less than a thousand in my account and it was supposed to be free (I had the most basic account). Well I just found out I've been getting charged $10 a month for the past two years (not sure why no one notified me - I don't get statements and I haven't been using it so didn't think to look), which adds up to over $200 in fees! Come on now, that's ridiculous!! I phoned them and they didn't seem to care and just told me to close my accounts and they'd mail me a cheque - I tried to call my local bank to talk to them and only get the answering machine each time. Hooray... wish I could just pop by in person!

I need to transfer my money to another institution that won't do that kind of a trick to me - or maybe transfer it all down here? Isn't it a good idea to have at least one bank account available in Canada while you are a US resident for if something comes up?

I don't really see why you need to keep an account open in Canada at all unless you think you guys might move back up there in the near future. I travel north and use my US cards on a weekly basis. Did receive a couple of emails and phone calls in the beginning from my bank making sure the foreign account activity was not fraudulent, but they were able to put an note on my accounts about my frequent travel to Canada, so that has since stopped.

My wife tells me that it is fairly common for Canadian banks to charge monthly service fees on checking accounts. It is very common and easy to find no-fee accounts at most major US banks. I wouldn't put up with any bank charging me $10 a month just to hold an account.

Share this post


Link to post
Share on other sites

I closed out my Scotiabank and First Calgary accounts but opened new ones with RBC. My Canadian accounts (one in Cdn and one in US) are no-fee, but my US-based Visa debit is $3.95 a month. My husband and I thought it would be a good idea to keep the Canadian accounts for when we vacation and visit. That way, it's a one-time exchange rate in transferring money to accounts and no extra fees in doing any cross-border shopping.

I didn't close any of the accounts until after I crossed the border. You can send them (usually fax ... how retro) a letter declaring you want your accounts closed and where to forward any outstanding funds.

Share this post


Link to post
Share on other sites

So I left some money in my Bank of Montreal bank account in Canada after moving down to cover the last few auto payments coming out until I could finish up all that stuff. There's less than a thousand in my account and it was supposed to be free (I had the most basic account). Well I just found out I've been getting charged $10 a month for the past two years (not sure why no one notified me - I don't get statements and I haven't been using it so didn't think to look), which adds up to over $200 in fees! Come on now, that's ridiculous!! I phoned them and they didn't seem to care and just told me to close my accounts and they'd mail me a cheque - I tried to call my local bank to talk to them and only get the answering machine each time. Hooray... wish I could just pop by in person!

I need to transfer my money to another institution that won't do that kind of a trick to me - or maybe transfer it all down here? Isn't it a good idea to have at least one bank account available in Canada while you are a US resident for if something comes up?

I transferred all my money to an account at Royal Bank. I had to have a bank that I could access easily from the US once I begin to collect EI and CPP, and any of my pensions I want to access. RBC has an account that you can link to a US account with them, and then link to a US bank (mine is Wells Fargo). I pay a monthly fee but it is worth it for the flexibility. I don't know of any banks that don't charge fees, except Tangerine or PC (President's Choice), and they don't offer the cross border options I need.

I hear TD also offers similar options for cross border banking. If you won't be needing any further banking services in the future at all, you may want to look into PC or Tangerine. Good luck. :)

Edited by Dualie

ROC

01/18/2017   Sent in I-751

01/26/2017   Check cashed

01/28/2017   Received NOA dated 01/20/2017

02/16/2017   Biometrics done

10/24/2017   Traveled to Minneapolis for I551 stamp

02/26/2018     Case received by Field Office - S. Paul

05/012018     Case transferred to another USCIS office for processing 

N-400

02/02/2018    Filed N-400 online

02/05/2018    NOA online - NOA letter 02/09/2018

02/21/2018     Biometrics walk-in

 

Share this post


Link to post
Share on other sites
 
Didn't find the answer you were looking for? Ask our VJ Immigration Lawyers.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  
- Back to Top -


Important Disclaimer: Please read carefully the Visajourney.com Terms of Service. If you do not agree to the Terms of Service you should not access or view any page (including this page) on VisaJourney.com. Answers and comments provided on Visajourney.com Forums are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Visajourney.com does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. VisaJourney.com does not condone immigration fraud in any way, shape or manner. VisaJourney.com recommends that if any member or user knows directly of someone involved in fraudulent or illegal activity, that they report such activity directly to the Department of Homeland Security, Immigration and Customs Enforcement. You can contact ICE via email at Immigration.Reply@dhs.gov or you can telephone ICE at 1-866-347-2423. All reported threads/posts containing reference to immigration fraud or illegal activities will be removed from this board. If you feel that you have found inappropriate content, please let us know by contacting us here with a url link to that content. Thank you.
×