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U.S. Banking for Canadians

 

Enjoy a cost-effective and convenient cross-border banking service between Canada and the U.S.

As a Canadian who stays in the United States for extended periods of time, you have a unique set of banking needs. The RBC Access USA account or RBC Access USA Preferred account can meet those needs by giving you an affordable and convenient way to access and manage your money on both sides of the border.

Key Benefits

The RBC Access USA checking account is ideal if you're a Canadian resident who lives in the U.S. part-time (such as a retiree or student) or you travel to the U.S. frequently for business or pleasure.

Benefits of the account include:

  • Transfer funds between your Canadian and U.S. RBC® accounts without having to pay wire transfer or foreign transaction fees.
  • Manage your Canadian and U.S. RBC accounts at the same time through RBC Online Banking.
  • Pay U.S. bills with your RBC Bank account online at no extra charge.
  • Access your money in the U.S. via an extensive network of ATMs and at over 430 branches.
  • Write and cash cheques in the U.S. with your RBC Bank account to avoid having Canadian cheques returned.
  • Use your Canadian credit history to apply for personal credit in the U.S.1

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Offering Two Accounts to Meet Your Needs

RBC Access USA is available in two comprehensive, convenient and hassle-free packages—each with its own advantages:

  RBC Access USA Preferred Account RBC Access USA Account

Type of Account

Interest-bearing checking account Checking account

Monthly Fee

$0 with minimum balance met (see below) or $29.95 U.S. per month2 $0 with minimum balance met (see below) or $3.95 U.S. per month3

Minimum Monthly Balance Required to Waive Monthly Fee

$5,000 U.S.

(Or, a minimum $10,000 total deposit balance or $20,000 combined balance of deposits and credit lines.)

$700 U.S.

Instant Online Money Transfers between RBC Royal Bank and RBC Bank (USA)

Unlimited Unlimited

Free RBC Bank (USA) Online Banking

Included Included

Free Online U.S. Bill Payment

Included Included

Unlimited RBC Bank (USA) Teller Transactions

Included Included

Free U.S. ATM/Check Card

Included Included

ATM Access

No charge at RBC Bank (USA)/Publix ATMs or other ATMs, plus fees charged by other banks are rebated (up to 4 per month). No charge at RBC Bank (USA)/Publix ATMs. Up to two $2.00 ATM rebates/month.

No-Charge Check Writing

Included Included

Travelers Checks

Commission-free Standard rates/fees apply

Safe Deposit Box

Free small safe deposit box at a local RBC Bank (USA) location4 Standard rates/fees apply

Foreign Exchange

Preferred rates on instant money transfers and for purchase or sale of U.S. funds in Canada5 Standard rates/fees apply

RBC Royal Bank U.S. Dollar Visa* Gold

Card included (subject to credit approval)

Benefits include:

  • Annual fee waived for applicant and additional cardholder
  • Earn RBC Rewards® points
  • Make transactions in U.S. funds to avoid daily currency fluctuations6
Card not included

Optional Travel Insurance

Preferred rates Competitively priced

FAQs

Find answers to the most common questions asked about the RBC Access USA account. Don't see your question? Please call us at 1-800-769-2553.

Can I apply for an RBC Access USA account from either the U.S. or Canada?

Yes. Simply visit your nearest RBC Bank branch in the U.S. or any RBC Royal Bank branch in Canada and speak with a banking specialist. If you have questions, or would like to receive additional information about RBC Access USA, please call 1-800-769-2553 to speak with a representative.

What information/documents should I bring to the branch with me when I open my account?

When you visit a branch to open your account, please bring the following documentation for yourself and any secondary applicants (if applicable):

  1. Primary identification such as a:
    • Canadian Passport, or
    • Foreign Passport (such as a U.S. Passport), or
    • Permanent Residence Card, or
    • Canadian Birth Certificate together with a Canadian Driver’s License
  2. RBC Client Card Number (if you are not yet an RBC Royal Bank client, you will not need to provide this information)

Who should apply for an RBC Access USA account?

The RBC Access USA account and the RBC Access USA Preferred account are ideal for Canadian residents who travel to the U.S. frequently or live in the U.S. part-time. Canadian students, retirees, business travelers and other Canadians in the U.S. can benefit from using this unique service.

I don't have an RBC Royal Bank account in Canada yet. Can I still open an RBC Access USA account?

Yes, you can. When you visit your nearest RBC Bank branch in the U.S. or an RBC Royal Bank branch in Canada, we can set you up with an RBC Access USA account and an RBC Royal Bank account in Canada. RBC Royal Bank offers a wide range of savings and banking accounts to meet your needs.

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Where is RBC Bank located in the U.S.?

We have over 430 banking locations throughout the southeast United States, including North Carolina, South Carolina, Virginia, Georgia, Florida and Alabama.

What is One Sign In?

Using My ViewTM account aggregation, One Sign In gives you the ability to view both Online Banking (RBC Royal Bank) and Online Banking (RBC Bank) accounts at the same time, in one online session. You only have to sign in once to view all your accounts with both institutions.

What are the benefits of One Sign In access?

It is convenient to have access to both RBC Bank and RBC Royal Bank accounts at the same time. You don't have to remember two passwords every time you want to log in. It is also fast and easy to transfer funds between eligible accounts, and transfers can be made in either USD or CAD, at competitive exchange rates. All at no additional cost!

What other options do I have for transferring money between RBC Bank and RBC Royal Bank?

You can choose between either self-service via RBC Royal Bank Online Banking or RBC Bank Online Banking or you can call 1-800-769-2553 and have a Royal Direct representative assist you.

What are the cross-border transfer limits?

For online funds transfers, the limit is up to and including $25,000 (CAD or USD) per transaction. For amounts in excess of $25,000, you should call Royal Direct at 1-800-769-2553 and a representative will assist you.

Why can I transfer $100,000 over the telephone but only $25,000 online?

Clients often require assistance in making funds transfers greater than $25,000. Our Royal Direct agents are specially trained to ensure that clients access the appropriate product at the best rates available.

Is there a fee for the online cross-border money transfer?

At this time, there is no additional fee for the transfer. Existing account fees apply. Please refer to the Service Pricing Fee Schedule.

How long does it take for the money to move between my accounts?

The movement of funds is reflected immediately in the available balances of all accounts affected. Transactions made on RBC Bank accounts before 8:00 p.m. EST, except for mortgage accounts, will be processed the same business day and are available for withdrawal or further transfer the next business day after the date of processing. Transfers made after 8:00 p.m. EST will be processed the following business day and will be available for withdrawal or further transfer the first business day after the date of processing. Funds transferred with respect to a credit card may not be processed until the second business day after the transfer and will be available for withdrawal or further transfer the first business day after the date of processing.

Can online cross-border money transfers be reversed?

No. There is no option to reverse a cross-border transfer due to the differences in exchange rates. Another transfer is required should you wish to offset the previous one. Please note that there will likely be an exchange rate differential.

How can I check the current rate of exchange without actually transferring money?

The conversion rate is stated on the "Confirm Transaction" page in Online Banking. This page gives you the opportunity to review the transaction before it is processed.

Open an Account

To open an RBC Access USA account, visit any RBC Bank branch in the U.S. (North Carolina, South Carolina, Virginia, Georgia, Florida or Alabama) or any RBC Royal Bank branch in Canada.

Find a U.S. Branch
Find a Canada Branch
Tip: Documents to bring with you.

Call 1-800-769-2553 to learn more about the account or other U.S. services for Canadians.





RBC Bank (USA) is a member of the Federal Deposit Insurance Corporation. The Canadian Deposit Insurance Corporation or any other Canadian federal or provincial deposit insurer does not insure RBC Bank (USA) deposit accounts.

Please consult your tax advisor regarding any potential tax implications in connection with accounts or transactions conducted in the U.S. by Canadian residents.

* Registered trademark of Visa International Services Association. Used under license.

1 Mortgages provided through RBC Bank. Credit on approval. Terms subject to change without notice. Not a commitment to lend. Call for details. RBC Bank is an Equal Housing Lender.

2 If the account balance does not meet minimum balance requirements at any time during the month, the full $29.95 (U.S.) fee will apply.

3 If the account balance drops below $700 (U.S.) at any time during the month, the full $3.95 (U.S.) fee will apply. No minimum balance for the first three consecutive months after account opening.

4 Subject to availability.

5 Preferred foreign exchange rates are defined as rates that are improved over our standard foreign exchange rates. Clients will automatically receive the preferred foreign exchange rate when transferring money between RBC Royal Bank Canadian accounts and RBC Bank (USA) U.S. accounts via Online Banking and Telephone Banking 1-800-769-2553. Clients will also receive this rate when purchasing or selling U.S. cash, travellers cheques, drafts or money orders in RBC Royal Bank branches in Canada when they present their RBC Access USA Premier Service card. The preferred foreign exchange rate is not available at RBC Bank (USA) branches in the U.S.A. but clients can call 1-800-769-2553 while in the U.S.A. and have money transferred to their RBC Bank (USA) U.S. account at the preferred foreign exchange rate.

6 Transactions for U.S. Dollar Visa Gold are in U.S. funds.

 

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