Earlier this year I opened a TD Convenience Checking account at TD Bank — the US equivalent to TD Canada Trust. This isn’t like the US Dollar accounts you can open up at almost any Canadian bank: TD Bank N.A. is a full fledged American bank with over a thousand locations in the eastern United States. Its operated separately from its Canadian parent.

There are some helpful connections between the two, though, that make managing US money much easier (and faster) for Canadians. Funds can be instantly wired between your TD Bank US and TD Canada Trust accounts for free. The process requires calling in to the TD Cross Boarder Banking phone line, but its reasonably quick and painless. The representative reads an agreement, lets you know the exchange rate, and completes the transaction for you. You’re accounts (US and / or Canadian) may be debited for a wire transfer fee, but in my experience it is refunded within about a day.  Continue reading →