Asking on behalf of a friend:
I am a Canadian non-resident visiting the U.S. (no SSN or ITIN number in the U.S.)
I do not have any bank accounts open in Canada nor do I plan on visiting Canada any time in the near future, but I may become a Canadian resident within a year or two.
Are there CAD account solutions in the U.S. that I can open in the meanwhile that would be conducive to transferring such CAD assets to a Canada-based bank later on when I move to Canada?
I called TD cross-border, but they do not have footprint in my state (they are mostly on the East Coast) to open an account for me.
I also called RBC cross-border, who informed me that I would need to open an account with them in Canada first before opening an account with them in the U.S. (and they only have USD in the U.S.)
Thank you!
CAD banking solutions for Canadian non-resident in the U.S.?
Moderator: Mark T Serbinski CA CPA
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Re: CAD banking solutions for Canadian non-resident in the U.S.?
Other than TD, or if you live in FL or AZ, your are probably out of luck without a pre-existing relationship. Do you still have an RRSP somewhere? Th at could leverage you a Cdn bank account. And, as you say, none of these US based accounts will be in CAD, even at TD. The CAD bank account will be in Canada, with the US bank giving you some form of access to it through their bank.
The consistent advice here as always been to maintain at least one Cdn bank account and one Cdn credit card when leaving Canada.
The consistent advice here as always been to maintain at least one Cdn bank account and one Cdn credit card when leaving Canada.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
Re: CAD banking solutions for Canadian non-resident in the U.S.?
wise.com advertises CAD account in US, but from what I see, I suspect it is merely an FX firm in which you can hold multiple currencies, not really a "bank"
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing