How to open a US bank account as a Canadian

Thursday, October 13, 2011

by JadeDragon on July 19, 2011

Assemble your documents. You will need to prove your identity, citizenship and residency. Your passport and drivers license should do this. Bring a home utility bill for good measure.Decide WHERE you want your new bank account. It is easiest to deal with US bank branches in border towns. They are used to opening accounts for Canadians. Branches far from the border areas may give you serious hassles because the staff just do not know what to do with a non-resident customer.Decide WHAT KIND of bank account you want. A savings account will pay a little interest but you will not be able to write checks. A checking account might be more useful. Compare account features and fees before settling on a bank and account combination. You will need to open the account in person, but set an account opening appointment by phone to ensure you will get  the best service. Be sure to leave plenty of time for potential border delays.Inform the bank as to what account type you want. Provide all your documentation at your appointment. Fill out all the forms completely.Consider what other services might be useful now that you have a US bank account. Safe deposit box for valuables you may not want to cross the border with? Direct deposit of US source income like dividends? Would a US based credit card save you exchange fees?Tagged as: investing, Lifestyle Design

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