Canadian Accounts with USA banking?

[HolaAmigo]

Originally Posted by JimJim

BMO Harris. Opened the accounts through BMO

FWIW BMO is primarily a Canadian bank.. They have a US side too but perhaps that's the explanation?

[JimJim]

Originally Posted by HolaAmigo

FWIW BMO is primarily a Canadian bank.. They have a US side too but perhaps that's the explanation?

Yes via the Harris bank. Look up "BMO Harris". You can open US accounts through a BMO branch. Takes some paperwork of course, they mail you some forms but then you're good to go.

Got 3 bank accounts and 3 debit MC's with them. Blling address still in Canada

[rsot]

I have been a strong advocate for BMO Harris Bank for years - I have been using them for US bank

[JimJim]

Originally Posted by rsot

I have been a strong advocate for BMO Harris Bank for years - I have been using them for US bank

Do you know of any other similar solutions for Canadians?

Need more US accounts but don't want to raise any flags with Harris

[rsot]

Originally Posted by JimJim

Do you know of any other similar solutions for Canadians?

Need more US accounts but don't want to raise any flags with Harris

Without having to go to the USA for physical signing/showing ID...I only know of TD Bank USA but it's not the greatest for stealth, sad to say.

Other banks require you to go into the USA (from what I have explored)

[JimJim]

Originally Posted by rsot

Without having to go to the USA for physical signing/showing ID...I only know of TD Bank USA but it's not the greatest for stealth, sad to say.

Other banks require you to go into the USA (from what I have explored)

TD Bank USA provides a US account with routing number?

Opened a "US account" with Scotia through online banking.. Still got a Canadian bank account, just that it accepts USD lol

[rsot]

Originally Posted by JimJim

TD Bank USA provides a US account with routing number?

Opened a "US account" with Scotia through online banking.. Still got a Canadian bank account, just that it accepts USD lol

TD Bank US does provide US accounts with routing number

Scotiabank Canadian account accepted the USD with conversion? Doesn't work like a true US bank account though

[JimJim]

Originally Posted by rsot

TD Bank US does provide US accounts with routing number

Scotiabank Canadian account accepted the USD with conversion? Doesn't work like a true US bank account though

Without conversion. From there you can set up a service like Shift Connect and convert to CAD at a good rate

But yeah if you give that bank account to Amazon US, I think they'll do the conversion before wiring which sucks.

Btw what do you mean by "not great for stealth"?

[rsot]

Originally Posted by JimJim

Btw what do you mean by "not great for stealth"?

TD Bank USA has caused issues with not accepting deposits in stealth names (unlike TD Bank Canada which is great for Canadian stealth accounts)

[JimJim]

Originally Posted by rsot

TD Bank USA has caused issues with not accepting deposits in stealth names (unlike TD Bank Canada which is great for Canadian stealth accounts)

BMO Harris works great at least.

Do you know any good USD cash back CC except for the Rogers one?

The TD one is kind of a joke

[rsot]

Originally Posted by agent006140

Canadian banks would have a different routing number than US banks,

Canadian banks don't use routing numbers in the same as US banks do - different setup.

@JimJim, USD cashback cc - not sure about the cashback aspect but I use a CIBC USD CC

[rsot]

Originally Posted by agent006140

Canadian bank still have to clear via its Central Bank,every member bank has a unique number,we call it routing number.
what I mean is that US bank cannot clear with a Canadian bank the way it does with another US bank.

Fair enough.

[Aviatrix]

Originally Posted by agent006140

Canadian banks would have a different routing number than US banks,

Nobody said that CA banks had the same type of routing numbers as US ones...

[rsot]

SWIFT codes are universal banking codes not necessarily the "routing number" concept

[bclarr]

Originally Posted by rsot

TD Bank USA has caused issues with not accepting deposits in stealth names (unlike TD Bank Canada which is great for Canadian stealth accounts)

Hi RSOT - I am thinking about opening another Canadian bank account but is it really true that TD Bank Canada accepts stealth name deposits? I never had a TD bank account so this will be my first. thanks !

[rsot]

Originally Posted by bclarr

Hi RSOT - I am thinking about opening another Canadian bank account but is it really true that TD Bank Canada accepts stealth name deposits? I never had a TD bank account so this will be my first. thanks !

TD bank does work for stealth deposits I use it

[bclarr]

Originally Posted by rsot

TD bank does work for stealth deposits I use it

@rsot thank you so much.....does it matter if I open a checking account or savings? I don't have any account with them only credit card....does the stealth name shows up in the bank deposit to raise any concern? thanks !

[rsot]

Originally Posted by bclarr

@rsot thank you so much.....does it matter if I open a checking account or savings? I don't have any account with them only credit card....does the stealth name shows up in the bank deposit to raise any concern? thanks !

I have used both checking and savings accounts - both work well for the deposits. Be careful of too many transfers out of savings accounts if you use them because of fees involved.

Your name doesn't show up on withdrawal from pp - it can show if you upload funds to PP however...so don't do that as a precaution

[bclarr]

Originally Posted by rsot

I have used both checking and savings accounts - both work well for the deposits. Be careful of too many transfers out of savings accounts if you use them because of fees involved.

Your name doesn't show up on withdrawal from pp - it can show if you upload funds to PP however...so don't do that as a precaution

thanks @rsot ….the reason because I ask my RBC USD account in Canada shows stealth name in each bank transfer from paypal ….the bank statement shows DEPOSIT then the stealth name.

[rsot]

bank statement will show the stealth name, true - paypal doesn't see your true name since money comes FROM pp - if you were sending money FROM your bank account, pp would see the true name.

The name shown is always FROM source - so pp is sending your money in your stealth name to your bank

[bclarr]

@rsot thanks....I mentioned this only because if you go to a bank for some banking and the rep pulls your data they will see this deposits in different names and sometimes ask question as to who this person is and why am i using this account for third party transactions....so far no big issues for me yet but u may never know. not sure what story I am going to come up with next time

[rsot]

Originally Posted by bclarr

@rsot thanks....I mentioned this only because if you go to a bank for some banking and the rep pulls your data they will see this deposits in different names and sometimes ask question as to who this person is and why am i using this account for third party transactions....so far no big issues for me yet but u may never know. not sure what story I am going to come up with next time

That's correct - if the rep sees weird names, he/she could question wtf is going on.

Spread the risk