You can store your USD in a savings account and enjoy no monthly fee and a daily interest calculation!
Customers who need a place to keep their US dollars – or deposit money that they are paid in USD – would benefit from opening a TD Bank US Daily Interest Chequing Account. You won't have to convert your money to Canadian dollars if you use this account, which might be a significant benefit if exchange rates aren't good.
With the TD Bank US account, you can store your USD in a savings account and enjoy no monthly fee and a daily interest calculation. Want to learn more? This article will tell you all you need to know about the TD Bank USD account.
TD Bank allows you to apply for an account on their website in minutes. You’ll need a valid email address to start. If you are already a TD customer some information will be pre-filled.
Step 1. Enter your full name and date of birth.
Step 2. Phone number, and email address twice.
Step 3. Enter your full address manually, you can also use the lookup service to detect it automatically. Then confirm how long you have lived at that address.
Step 4. Choose the type of work you do, whether you’re employed, a student or other and the date you started to work or study in that role.
Step 5. Confirm you are a resident of Canada for tax purposes and/or any other country.
Step 6. Your full application will be provided to you for approval, and by clicking Continue you consent to a credit check being performed.
Step 7. Provide the purpose for which you are opening the account.
Step 8. Choose how you want statements delivered: online, paper, or not at all.
Step 9. You can choose to set up an online banking username and password right away.
Step 10. On the final screen You will also be shown the legal disclosures applicable to your account. Once you’ve done this, you have two options to confirm your identity. Either upload identification and a photo using your phone, or go into a branch by the date displayed. TD displays your home branch and sends your bank access card automatically, so you can start using the account as soon as possible.
The TD Bank US dollar account allows you to earn daily interest and manage your funds with no monthly fees.
Some of the key benefits of this account are:
TD Bank charges ZERO monthly fees.
Account holders benefit from a rate of 0.01% paid on balances of 1000 USD or more.
In order to have zero transaction fees TD Bank requires a minimum balance of 1,500 USD per month. If you don’t meet this balance, transactions are 1.25 USD each.
TD Bank offers bundled accounts that make it easy and seamless for you to manage your finances by having all your money in one place. TD Borderless Plan is a special offer from the bank that is geared toward people who travel to the US frequently.
This is how the benefits of the Borderless account work.
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.