You can benefit from a great interest rate and no need to have a minimum balance. Keep reading to find out more!
The CIBC US Dollar account is among one of the top USD accounts for Canadians. It’s a great choice for saving your US dollars or depositing money that you are paid in USD. If you open the CIBC USD account you will not need to exchange your cash to Canadian dollars, and this is a big benefit if the exchange rates aren’t in your favour.
With CIBC you can benefit from a great interest rate and no need to have a minimum balance. Keep reading to find out everything you need to know about the CIBC USD account and how it can help you.
Signing up for a USD account with CIBC can be done in five minutes online.
Step 1. Fill in your name, making sure it matches the information on your ID document.
Step 2. Enter your birth date, email address and phone number.
Step 3. Fill in your address using the address lookup tool.
Step 4. Enter your Social Insurance Number (SIN).
Step 5. Confirm your taxpayer status, including if you are a tax resident of Canada, the US and/or any other country.
Step 6. Enter work information including your job title.
Step 7. Verify details about your savings account including its purpose and what form you want to receive statements in.
Step 8. Finally, review the legal agreements attached to the account.
Step 9. After clicking submit, you will have your CIBC debit card mailed to you. Opening the account is subject to a credit check, which you will give consent to by submitting the application.
The CIBC USD account allows you to easily save, deposit, and withdraw your US currency.
Here are some of the key features:
CIBC charges ZERO monthly fees.
Account holders benefit from a rate of 0.05%.
There is no minimum balance for the CIBCUS dollar account, so $0.
The CIBC Bank USA Smart Account is a checking account that gives even more functionality to your CIBC US savings account. You can do banking across the borders of the US and Canada, making it easier to shop, work, or travel.
Here are some of the key benefits:
Currency Exchange Using USD Account
Sign up for an account at https://www.remitbee.com/signup by entering your email address and choosing a password. Your Canadian phone number will be required to be verified. Fill in your personal information, such as your name and address.
From the menu, select Exchange Currency. Now enter the details of your currency exchange, depending on your exchange amount further verification may be required.
Connect your CAD and USD bank accounts
Choose the amount and confirm your exchange rate. The entire transaction takes place between your own two currency accounts via EFT
Convert your money! You can see all of your transactions in future by going to the Dashboard and clicking on the Transactions tab.