Canadian's and U.S. banks?

[Kurby]

Can we do it?

What kind of information do we need to set up a U.S. bank account and can Canadian's do it without being U.S. residents?

We are thinking of financing DVC through Disney but we have to have a U.S. bank account and not a Canadian bank with a U.S. account.

We're not far (1.5 hours) from Buffalo so we could go and open one if we really had to.

What is a good bank there?

Can Canadian's with a U.S. bank account get a U.S. funds credit card? (disney card visa maybe) or one we could collect points with and use in the future for airfares?

 

[bavaria]

Years ago I opened a Bank of America account while not a US resident. I had a Visa cheque card, chequing account with cheques, and a saving account. Since I am now paid out of the US I use that as my primary account (gets a little confusing having banks in 3 countries, and I do have to be very careful how I manage my money and retirement funds, but that is probably a different thread)

However, rules may well have changed due to increased security around the banking industry. I know for instance that I can't open an ING account even though I work in the US and have a US social security number.

I can't comment on how other Canadian DVC owners pay - I paid for my contracts outright and only pay my MF via my US account.

 

[F4disneyfan]

Can we do it?

What kind of information do we need to set up a U.S. bank account and can Canadian's do it without being U.S. residents?

We are thinking of financing DVC through Disney but we have to have a U.S. bank account and not a Canadian bank with a U.S. account.

We're not far (1.5 hours) from Buffalo so we could go and open one if we really had to.

What is a good bank there?

Can Canadian's with a U.S. bank account get a U.S. funds credit card? (disney card visa maybe) or one we could collect points with and use in the future for airfares?

Yes it can be done and quite easily the easiest way to do it is if you bank at RBC or TD you can set up an account with RBC Centurion and TD Bank North both owned by the parent companies up here and run entirely in the US. The other is Sun Trust we have an account there we just called the toll free number and they sent us all the paperwork to fill out and send back and they opened the account for us. No special forms etc to fill out they have a specific for for Canadian residents they send along so it is really easy.

 

[bavaria]

Sorry, I missed your 2nd question. Even if you can open an account in the US, you still shouldn't expect to have US credit cards. You will need to have established credit in the US at a US address in order to qualify. I was able to get a BOA Platinum Visa but that was based on my paycheques going into my account, and my long term history with them. They made an exception in my case. Otherwise I would only have been able to try for a secured card (where you deposit funds into an account and can then charge against those funds)

 

[Kurby]

then i guess my next question is

can you put your monthly payments and dues on a credit card?

just wonder if it would be easier to bill a cc then pay the bill every month

would be great if we could get one that gives us airmiles too then we could earn points for future flights.

 

[bavaria]

MF can be paid on a yearly basis via a credit card; not sure if they will do the monthly on a card. You may want to ask on the DVC boards as they get a little more traffic.

I know that a lot of people put their entire purchase on a credit card and pay off the card instead of a DVD loan as they get a lower interest rate that way.

 

[bavaria]

keep in mind too that if you do open a US account, you will need to have some way to fund that account. This varies by bank and its best to find one with a relationship with a Cdn bank.

 

[F4disneyfan]

then i guess my next question is

can you put your monthly payments and dues on a credit card?

just wonder if it would be easier to bill a cc then pay the bill every month

would be great if we could get one that gives us airmiles too then we could earn points for future flights.

Yes we use our Visa to pay our monthly payment and we send a money order at the end of teh year for our dues.

 

[maryliz]

OK .... so what's the cheapest way to go ... set up financing so that you pay monthly on a credit card, or put the whole amount on my credit card (can I even do that???) and then pay off the credit card with perhaps a low interest line of credit, where I can make the monthly payments to, AND have the flexibility of paying it off sooner by, for example, putting the cash I use for our yearly trips to WDW onto it as well? And then a money order once a year for MF, as F4disneyfan said.

Anyone know if I can use my cc to pay completely for a resale purchase through TTS?

I think DH is ready to contact a divorce lawyer ... I told him DVC was cheaper.

 

[BitsnBearsMom]

We paid our monthly payments on our CC - we used one of our cards that gives us rewards - Called DVC to make lump payments whenever we could and paid it off pretty quick. Yearly dues come out from the same credit card - I just put X amount into an account so I don't get shocked by it come my Feb statement!

 

[Joann]

To finance thru disney for DVC you HAVE to have a US bank account?????? I have not read that anywhere on here someone please explain and also where I can find info on that from them please

 

[F4disneyfan]

To finance thru disney for DVC you HAVE to have a US bank account?????? I have not read that anywhere on here someone please explain and also where I can find info on that from them please

No you do not have to have a US bank account we do have one but we do not use it for our DVC payments only to put money in and use the US cash in tehre for our Dues at teh end of the year..

 

[bbangel]

Anyone know if I can use my cc to pay completely for a resale purchase through TTS?

No you can't. You can do a wire transfer or pay with a certified cheque on a US bank.

 

[maryliz]

No you can't. You can do a wire transfer or pay with a certified cheque on a US bank.

Thanks for the info.

 

[rhiannon]

I'm a US citizen but live in Canada, and as for the bank account, things are different after 9/11. You will be asked for a social security no., not sure how they'll handle it if you don't have one. You also have to have a US address for a US-based credit card.

I'm not sure what MF you are talking about, US cards normally don't have any (the good ones anyway) You could always put your trip on a cc, then wait for a low-interest balance transfer offer from another cc company.

Good Luck!

 

[Tabetha]

I bought last year and financed through Disney. I went to my local RBC branch and set up an RBC Centura bank account. There are accounts available for Canadians to bank in the US - you don't need a Social Security Number, just the regular information you'd bring to open an normal, Canadian account.

If you're financing, it has to go through a US account.

As mentioned before, no to the Disney Visa card. You have to be a US Resident.