When U.S. Chequing makes sense

Leave the exchange rate behind. U.S. Chequing’s the perfect solution for members making regular trips to the States.

There’s really only one reason to have a U.S. chequing account, and that’s if you spend a lot of your time, or make frequent purchases in the United States. It doesn’t matter if it’s business or pleasure that takes you there – what does matter is that with the help of this account you’ll be done calculating the exchange rate. Converting your money back and forth can be a pain, it can end up costing you money and it can lead to missed opportunities. Here’s how:

  • Pain: Spending time in the U.S. can leave you feeling like you’re constantly calculating the exchange rate, trying to get a clear picture of what things actually cost. This confusion is enhanced by the fact that the exchange rate changes daily.
  • Cost: Financial institutions, businesses and credit card companies don’t all use the exact same exchange rate. Depending on the exchange rate that’s being applied, your purchase could cost more than you expect. You may incur service fees when converting cash and when making foreign currency purchases with a credit card.
  • Opportunity: With a U.S. chequing account you can decide when to turn your loonies into U.S. dollars, which means you have more control over your exchange rate. Opportunity comes in the way currency values can fluctuate. Buying U.S. dollars when the exchange rate is favourable means that when it’s time to spend, you’re dollars will go farther.

Call our Contact Centre at 1.866.863.6237 to learn more or to get started with a U.S. chequing account.