Back in September when we made the decision to head south for the winter we did some research on the best way to deal with money matters. After looking at different options we decided to open an RBC US account. We opened a savings account at our local RBC branch and they completed all the paper work for the US account and sent it down to the states to be processed. A few weeks later we received our Debit/Visa cards and a US RBC Visa card. All of the final set-up was completed over the phone and was very easy to do. The Debit/Visa card is used at point of sale and bank machines. We applied for the Visa card as it gives us points, which can be used for travel and other items, and payment can be made from our US RBC account.
Today we decided it was time to move funds into our US account. It took some time at our local RBC branch and our regular bank to sort the process out but in the end it is very easy to do. We can transfer funds from our day to day accounts into our Canadian RBC account and then we can go online and transfer the funds from the Canadian RBC account into our US RBC account. The transfer is done immediately and the US funds are available for use immediately … and the best part was there were no fees on any of these transactions! Now that we know how to do it we can use e-transfer from any of our Canadian bank accounts to our Canadian RBC account so it won’t matter where we are.