Hi All, have any of you found a Canadian bank that would offer a high interest savings account for USD? I know of a few (e.g., CIBC, HSBC, etc.) that have promos on opening a savings account with them in CAD, but am looking for one that would offer a high interest on USD. Thanks!
There’s hardly any american bank that’s offering what I’d consider high interest savings in today’s conditions. I’d consider between 1.25 - 2% high interest.
I’ve yet to come across a Canadian bank that offers anything but miniscule interest on USD funds. I’ve looked at TD, Royal Bank and local credit unions in BC and none of them offer even a .1% interested rate on USD accounts.
If you or anyone comes across something better, please let me know.
Agree with @panditji, there is hardly any interest on your USD accounts with canadian banks your best bet is to open fixed deposits for your surplus money, they might give you 0.4 - 0.7 %, and sometimes promo rates which could go close to 2 %. minimum lockin period of 30 days or so, in case you want to cash them out.
Try tangerine usd saving account, they are giving attractive promo rates for up to 3 months.