New Home Owners
      Banking and Bill Paying for Canadians


Back

Banking and Bill Paying for Canadians - RBC Bank

One idea that works for many Canadians is to open up linked Canadian and US Bank Accounts with Royal Bank Canada (RBC).

RBC do not have any physical banks in the US but the "Virtual Bank" in Georgia offers a very good solution. You have to set it up these accounts by visiting a RBC branch in Canada.

Ask for a RBC Bank Account in Canada in US Dollars and a RBC Bank Account in the US Dollars and to have the accounts linked so you can transfer funds from one account to the other.

Once you have these accounts set up, you can simply write a cheque from your own account in Canada and deposit it in the RBC Account (US Dollar) in Canada. If you have a computer, then RBC will teach you how to transfer funds from the Canadian (US Dollar) account to the US (US Dollar) account.

The US Account will have a "Routing Number" and an "Account Number" which shows at the bottom of the cheques. When you get an electronic bill say from Florida Power and Light, you will have a place to enter your "Routing Number" and "Account Number" and the money will automatically be transferred from your account to pay the bill. This can be done for paying all bills in Florida

You can also deposit funds into your "Virtual Account". You can call them in Georgia 1-800-769-2553 and they will send you mailing envelopes for depositing funds in the "Virtual Account". There are no transaction charges for paying bills or making deposits.

Seniors pay nothing for the RBC Account in Canada and a monthly fee of just $2.95 for the RBC Account in Georgia.