It’s just like the interest-earning chequing account you’re used to, except it’s held in U.S., instead of Canadian, funds. The interest you earn is also paid to you in U.S. dollars. U.S. Chequing is a great option for those who spend a lot of their time stateside and don’t want to be bothered with fluctuating exchange rates.
Here are some of the details:
- No monthly fee – you just pay as you go. Here’s how much you’ll pay:
- $1 per electronic debit, transfer.
- $1 per processed cheque or staff-assisted debit.
- $1.25 per staff-assisted utility payment.
- Interest is calculated daily and paid monthly in U.S. dollars.
- ATM withdrawal and overdraft protection aren’t available on this account.
- Cheque images are included in monthly statements.
- Even though the account’s held in U.S. funds, your deposits are guaranteed by the Credit Union Deposit Guarantee Corporation.
If you have questions about U.S. chequing accounts, or if you’d like to get one started, give us a call at info@alphaguarantees.com or book an appointment online! Stay on top of exchange rates with the help of our Foreign Exchange Calculator.