Banking in the United States
Posted date : Nov 4, 2017.
Dear Bird Talk,
Having recently purchased condos in both Ontario and Florida, we are just about to join the ranks of the snowbirds. Is it necessary to set up a bank account in the U.S., or have you found it possible to get along with just a Canadian bank and a VISA card?
Arthur Wenk, ON
Response:
Ed: Congratulations! You CAN get along with just your Canadian bank account and a VISA card, but I would not recommend it due to all of the charges and possible inconveniences. We opened an account with Wells Fargo and carry their debit card, which we use for everything. The money which we need is transferred every month, through the CSA Currency Exchange Program, directly into our U.S. account. Your condo fees and other normal living expenses can be automatically deducted from your U.S. account as well, which will prove to be very convenient.
