TD BankNorth Borderless Account

With money sitting in a Paypal account gathering dust, I decided that perhaps I should be transferring the US dollar funds to a more secure and manageable account.  A quick call to my own bank here in Canada,  TDCanada Trust, was all it took.

I called a 1-866 number and after entering my ATM card number and my pin for it, I pressed "0" and was quickly forwarded to a Customer Service Representative.  Jody was extremely helpful and boy, was she ever a happy person!  It was a pleasure to have her helping me to set the account up and the steps involved were so simple.  It was as easy as when I do my online banking - which is incredibly simple to do.

Within a matter of only minutes after verifying my current account information Jody informed me that my Borderless USA bank account was active and attached to my online banking for easy access, transfer and management of everything all in one easy to use spot.

I was impressed.  My Borderless US Account is with their head branch in the US and I am able to transfer money to and from this account with the click of  a button.  I receive no fee Traveller's checks and money orders and unlimited transactions including ATM usage with no additional  fees as well as a favorable exchange rate which is lower than if I weren't a Borderless customer.  When I'm in the States, I only need to go to any TD NorthBank and I will have full bank access to my account to manage transactions just as if I'd gone into my home branch.  The nice thing about this account is that I didn't have to deposit a cent if I didn't want to and there is no minimum amount necessary within a set time frame that has to be made to ensure the account remains open and accessible.  As long as I have the piddly $4.95 within the next month to cover the service charge, I'm good.

I haven't yet set it up with my paypal but a little investigation tells me this shouldn't be too difficult to do. Of course, there is a little concern with the difference between "transit #" and "routing #" to hash out as the routing number appears to have a 9 digit sequence and the transit # only 8 digits.  Another quick call though will have this solved in no time I'm sure.

When I wanted to transfer some money into the newly opened account I wasn't able to simply transfer from my Canadian Bank account, this setup would take 24-48 hours to complete fully.  That was quickly remedied by calling the Easy Line service and requesting the transfer and it was done immediately.

The only downside to this particular account at the moment is that the monthly service fee of US$4.95 is applied until the account has a balance of $3,000 or more - that may take some time but that's fine, I don't mind.  It will give me incentive to get to that balance eventually.

The services I receive with this particular account counter balance the other account I also set up today at another bank, RBC.  Now, I'm all set whether I decide to travel State side or not, my account is totally accessible day or night and it was totally painless to obtain. I've always had excellent service with TD so I didn't have any qualms about setting up yet another account through them.  The only thing I was missing was the US Account and now I'm happy!