U.S. Business account for Canadian corporations.

Michael Ludwig

Well-Known Member
#2
Doesn't opening a U.S. Funds account in a Canadian bank suit your needs?
The problem with having one bank in Canada and one bank in the US is that they can't talk to each other very well. However, according to the TD rep trying to get my business, that is not the case if you use TD since they are one bank on both sides of the border and apparently they talk to each other seamlessly. I would expect RBC and CIBC have the same capabilities, but probably not to the extent of TD.
 
#3
Yes, Michael, I agree with you.
Friend of mine having difficulties receiving direct deposits from his U.S. brokers paying in U.S. funds. He is trying to make this process easy and painless for them. I did suggest him exactly same thing as you did.
Thank you for your input.
 

loaders

Site Supporter
#4
Even with a US funds account with a Canadian bank, you may still find it difficult to receive direct deposit from a US customer into the account. We're with BMO and for whatever reason, they don't have that capability.
 

Michael Ludwig

Well-Known Member
#5
We're with BMO as well and getting EFT from out of the country is a PITA. It mostly has to do with the U.S. system not being able to talk to the Canadian system without a lot of third party intervention, so we go "old school" and send and receive cheques.
 
#7
Thank you all for sharing. Friend of mine doesn' t feel lonely in this problem now.. Well, from what I know, he opened US account in States and hoping problem will be solved.
 

Stats

Members online
0
Guests online
16
Total visitors
16