Dual citizen working in US residing in Canada

[canampilot]

Can anyone offer advice on how to transfer funds from my US bank(where my company deposits funds) to our Canadian bank where we reside.
We will be living close to the border and have our US accounts in a bank 40 minutes away. However,we need to know if there is important info we may need to know or a simple way to transfer funds.
I looked if this subject was covered on another thread but did not find it.
Thanks.

[nelsona]

I have used customhouse.com for a few years. This is the easiest way of transferring between 2 existing accounts.

Others have set up brokerage accounts which allow one to transfer, but this is more complex.

From US to canada, the easiest is simply to write a check on your US account and deposit it in your Cdn account. Doing it the other way is not so straightforward (and is usually quite costly in fees and exchage rate).

Set up customhouse (takes about a week) and you are done.

[stewak2]

If you open a TD BankNorth account in US, and have your pay deposited there, and open a TD Canada Trust account in Canada, you can move money in both directions with a phone call. It is done same day, usually within an hour. Not sure if rates are competitive with Customshouse but it is convienent. I am in a similar situation and this is the system I use.

[nelsona]

As I said, the advantage of customhouse is that it will use existing accounts.

[knight03]

Royal bank is also a possibility for you.
They can set you up an account with RBC Centura (US BANK) for your direct deposits, and you can link this account to an account at Royal. Transfers can be done completely online between accounts.

You can even get a US line of credit through RBC centura and a US credit card - which can be useful.