It’s just like the interest-earning chequing account you’re used to, except it’s held in U.S. dollars, instead of Canadian funds. The interest you earn is also paid to you in U.S. dollars. A U.S. chequing account is a great tool if you do business stateside, and don’t want to be bothered with the exchange rate.
Here are some of the details:
- Pay $10 per month for 10 transactions, or pay per transaction with no monthly fee. Here are the charges if you exceed your 10 monthly transactions or choose to pay as you go:
- $1.25 per electronic debit, transfer.
- $1.25 per processed cheque or staff-assisted debit.
- $2.25 per in-branch utility payment.
- Interest is calculated daily and paid monthly in U.S. dollars.
- ATM withdrawal isn’t available.
- Attach a line of credit to your account.
- Cheque images are included in monthly statements.
- Even though the account’s held in U.S. dollars, your deposits are guaranteed by the Credit Union Deposit Guarantee Corporation.
Call our Contact Centre at 1.866.863.6237 if you have questions about U.S. chequing accounts, or if you’d like to get one started. Stay on top of exchange rates with the help of our Foreign Exchange Calculator.