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Unlocking the Legal Language of CAD: How AI Legalese Decoder can Help Navigate US Regulations

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# Extended Stay in the US without US Income

Hi everyone! I will be spending an extended amount of time in the US for reasons other than marriage or work. During my stay, I will not have US income and will be relying on funds from my Canadian bank account (TD) for daily expenses.

## Banking Options for CAD Withdrawals in the US

I am wondering if there are any Canadian banks that have branches in the US where I can withdraw CAD cash without incurring expensive ATM withdrawal fees. I am looking for a way to access my Canadian funds conveniently while in the states.

### AI Legalese Decoder Assistance

One way to navigate through this financial situation is by using the AI Legalese Decoder tool. This innovative technology can help decipher complex legal and financial terms, making it easier for me to understand my banking options and fees associated with accessing CAD cash in the US.

## Obtaining Preferred Exchange Rates

Additionally, I am interested in learning how to open an account or utilize a service that offers preferred exchange rates for converting my Canadian funds to US currency. I want to ensure that I am getting the best rates possible when dealing with currency exchange during my stay in the US.

### AI Legalese Decoder Assistance

The AI Legalese Decoder can assist me in understanding the terms and conditions of different banking services that offer preferred exchange rates. With this tool, I can make informed decisions about where to exchange my funds to maximize savings and avoid unnecessary fees.

## Payment Methods for US Expenses

Lastly, my friend will be charging some of my US expenses on her US credit card. I am looking for a way to pay her credit card balance using my Canadian bank account.

### AI Legalese Decoder Assistance

With the help of the AI Legalese Decoder, I can better understand the options available for transferring funds from my Canadian bank account to my friend’s US credit card. This tool can simplify the process of making cross-border payments and ensure that I am following the necessary legal and financial protocols.

Thank you in advance for any assistance and insights you can provide on these financial matters!

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5 Comments

  • element1311

    Ou can get a “no foreign transaction fees” credit card, like the Home Trust Visa, and charge everything to it. It’ll be charged at the specific exchange rate at the time of transaction, and you can just pay it off from your CAD bank account. 

    You could also setup a virtual account with Wise or OFX and get their debit card.

  • LeaveTheBank

    To pay US bills you need a US bank account, some of the big banks (like TD) have a US subsidiary that you can use, but if you’re living there you can pretty much open a bank account anywhere.

    To get cheap FX, you can use Wise. They charge around 0.5%-1% on top of the exchange rate. It would be even cheaper to just use a CAD credit card that has no foreign transaction fee, like the WS Cash one or the Scotia one, as you would get the actual rate and would be able to pay using your CAD directly.

    If you are going to need a lot of USD, you can also look into Norbert’s Gambit. It’s a cheap way to get the actual rate.

    Not sure why you want to withdraw CAD while over there, but that will probably be difficult.

  • Filipino_Canadian

    TD does have american accounts. CIBC does, RBC, BMO, pretty much any of the major banks have US account options available

  • Expensive_Humor_611

    Thanks guys for the contributions so far. Current fx rates are just so terrible. I guess no way around paying for USD items with CAD via better fx rates. Should have exchange USD when it was lower

  • One278

    Try the EQ prepaid debit/credit card, no FX fees, just the daily floating mastercard FX rate. Another good option is the Wise.com multiple currency debit/credit card allowing you to convert a lump sum of CAD to a USD balance and send USD to your friend’s bank account via ACH (American version of Canada’s EFT), as if you had a US based bank account. Wise uses the mid-market rate + small fee per conversion. You can link EQ to TD and Wise to move your money around. Both cards allow you to use ATMs to get physical USD cash out.