Canadian banks in the US

Many major Canadian banks offer cross border services which let Canadian residents access services in USD, including checking and savings accounts, and credit cards. The options available will depend a bit on whether you're a Canadian resident who travels frequently to the US, or whether you're more of a long term resident there. However, there's plenty of choice so you can compare your options to see what works for you.

This guide looks at some of the options for Canadian banks in the US - plus we'll introduce alternative providers like Wise and OFX if you want an account which lets you hold and handle CAD and USD conveniently side by side.

Quick summary: Canadian banks in the US

Can you have a Canadian bank account in the US?

Yes. You can open an account with a Canadian bank which has a US presence, or you can choose cross border banking options from major Canadian banks instead. The options available will depend on where you're usually resident, and accounts may have fees to pay.

Aside from banks you can also open accounts which have multi-currency features to manage your money across CAD , USD and many other currencies all in one account. Providers like Wise and OFX - which we'll look at later - offer easy ways to keep all your money in one place and transact seamlessly whichever side of the border you're on.

Canadian banks in the US

Let's take a look at some of the Canadian banks which offer services in the US, either for Canadians living in the US already, or for cross border commuters. We've got a quick side by side comparison of the banks and specialist providers we looked at earlier, first, followed by a bit more detail so you can decide if any suit your specific needs.

*Details correct at time of research 11th March 2025

TD Bank

TD Bank has branches and services in both Canada and the US, and Canadian citizens and residents may be able to choose between different account products and financial services, depending on their residency and requirements. TD Bank in the US has USD checking accounts, savings accounts, CDs, credit cards, personal loans, and home lending if you intend to buy a US property. Or you can stick with TD Bank in Canada and opt for the cross border services available here instead, which offer USD money management.

Key services:

• Suite of account and card services for Canadian and US residents

• Everyday options like checking accounts, as well as savings accounts, credit and lending

• Some account options are open to cross border use, for Canadians living in Canada and commuting regularly to the US for example

• CAD and USD products and services available through separate accounts

Can I open a TD Bank account in the US?

Yes. TD Bank offers services to US resident customers, and the US arm of TD Bank may also be able to extend some services to Canadian residents, depending on the specific product you need.

Does TD Bank have locations in the US?

Yes, TD bank has over 1,000 branch locations in the US.

RBC

RBC has cross border and USD account and card services which you can access with either a US or a Canadian address. This provides flexibility for anyone who may spend in the US frequently, who receives a USD salary, or who needs to make US mortgage payments for example. Services are also available for businesses and institutional clients.

Key services:

• Checking and savings accounts, and cross border bundles with products for Canadians living in the US

• Use a Canadian address when applying for personal services

• Wealth management services offered for Canadians in the US

• Business and corporate banking, and investment services are also available through RBC in the US

Can I open a RBC account in the US?

Yes. You can open a RBC account as a Canadian in the US, or you can use your Canadian residential address to access services instead,

Does RBC have locations in the US?

RBC does not highlight any US physical branch locations for retail customers on their website. If you need face to face service, ask in your Canadian branch before you move to the US.

CIBC

CIBC has a good range of services in the US which are available to Canadian citizens and in some cases, residents. Depending on your situation you may want to get investment and wealth management support from CIBC in USD, or access saving, checking or credit products. Cross border products are flexible and can be used by short and long term residents in the US alike.

Key services:

• US accounts, credit cards and investment services

• Wealth management, travel insurance and other services all available in USD

• Student focused account options available for Canadians studying in the US

• Business and corporate services also available

Can I open a CIBC account in the US?

Yes. You can open CIBC accounts in both Canada and the US, which hold USD. Multi-currency accounts are not offered.

Does CIBC have locations in the US?

CIBC locations are available in key US cities like New York, but services may be limited to private wealth management in some branches. Check in advance if you want branch based service for your account.

Scotiabank

Scotiabank in the US offers services only to business and institutional level customers, rather than for personal use. These are services for large national and multinational companies, such as access to business finance, global payments and risk management.

Key services:

• Corporate and institutional level services for large international businesses

• Foreign exchange services like global payments and risk management

Can I open a Scotiabank account in the US?

Personal customers in the US can not open a Scotiabank account there. If you have a Scotiabank account in Canada you may need to ask in your local branch before you relocate to the US, to understand your options to manage or close the product.

Does Scotiabank have locations in the US?

Yes. Offices are available for institutional customers in New York, San Francisco, and Houston.

International alternatives to banks

Canadian banks in the US don't often have multi-currency account options which means you'll need to keep your USD and CAD finances separated. Digital providers can often offer ways to keep different currencies in one place, and get easy oversight into your finances across currencies, both as a business and a personal customer.

If you want to manage your money across currencies side by side, you might want to compare your options with these alternative services:

Wise

Wise offers free to open personal accounts which can hold and exchange 40+ currencies including USD and CAD side by side.

You can also order a Wise card to spend and withdraw cash globally with low fees and the mid-market exchange rate. Just add money to your account yourself in CAD, or have someone send you a payment in USD, CAD or any of the other 20+ currencies supported for receiving, and spend as you go.

Currency conversion has low, transparent fees, and there's no foreign transaction fee for card spending.

Wise also has business accounts which offer all the features of the personal account with a few key extras. You'll pay a one time fee to open a Wise Business account, but on top of the benefits extended to personal customers you can also get perks like batch payments, multi-user access, accounting integrations, and a powerful API.

Learn more on our Wise Account Review.

Can I open a Wise account in the US?

Yes. If you are a Canadian resident you can open a Wise Canadian account - or if you're already a US resident you can choose Wise US instead.

While the fees do vary a little depending on where you're based, the features are similar, and the process to apply for your account is simple and all managed through your smartphone.

More information - How to open a Wise Account

OFX

OFX is a currency specialist which offers payment and currency risk management services for personal and business customers.

Business customers can also open a Global Currency Account which holds USD and CAD alongside some other major currencies. You can get paid in foreign currencies conveniently to your account and send payments globally whenever you need to.

There are no corporate card services for US or Canadian customers.

Can I open a OFX account in the US?

Yes. If you are a business customer you can open a Global Currency Account with OFX in either Canada or the US.

The fee structures may vary a little but in both cases you get access to 7 currencies including USD and CAD.

More information - OFX Business Account Review

Which Canadian banks allow cross border banking with the US?

Cross border banking services are pretty common, given that many Canadians travel frequently to the US for business or pleasure. You may need a USD denominated credit card for spending in the US, or easy ways to pay USD bills for example.

Different solutions are offered depending on the types of transaction you need to make, with most major Canadian banks offering some options. Here are a few to consider:

• TD Bank: Cross border banking solutions for long or short term travelers to the US, including checking accounts and credit cards

• RBC: Cross border banking bundles which are intended for travelers to the US, people relocating or studying in the US or even golfers heading frequently to the US

• CIBC: range of cross border banking services including savings, credit cards and US mortgages if you intend to buy a property there

Aside from banks you can also choose cross border services from providers like Wise. You'll be able to open a Wise account with an address in either the US or Canada, and in both cases you can hold and exchange USD and CAD as well as many other currencies, and get linked debit cards for essay spending and withdrawals.

Best US bank accounts for Canadians

Let's round up with a summary of some of the best accounts available for Canadians in the US - either living, working, studying, commuting or traveling there for other reasons. We've looked at both bank options and specialist providers in this guide, giving some flexibility.

Providers like Wise and OFX are not banks but do offer simple ways to manage your money across both USD and CAD with low fees and great exchange rates. Here is a summary of the best USD account options for Canadians in the US or managing USD transactions:

*Details correct at time of research 11th March 2025

Different account types might suit different customer needs. To give an idea:

• TD Bank: good choice for cross border use, keeping USD and CAD in separate accounts, with credit services in both currencies if you need them

• RBC: suited to people looking for day to day money management, as well as for bigger transaction such as US property purchases - accounts are not multi-currency enabled

• Wise: great fit for people who want to keep USD, CAD and 40+ other currencies all in one account for easy management, with personal and business account services

• OFX: good fit for businesses and online sellers receiving payments in USD, CAD and 5 other major currencies, with low transaction fees and no ongoing costs

Conclusion: Are there Canadian banks in the US?

Yes, there are Canadian banks in the US, including well known names like TD Bank and RBC. You can open cross border accounts with many Canadian banks which can support USD or CAD services, but it is unusual to find accounts which let you hold both currencies side by side.

If you want a digital account which lets you hold CAD, USD and other currencies all in one account to make cross currency transactions easier to manage, you may decide to check out alternatives like Wise.

Wise is not a bank but does offer smart ways for personal and business customers to manage USD and CAD alongside many other currencies, to send, spend, hold, receive and exchange seamlessly.