Why You Need a U.S. Dollar Account

 

If you are a frequent traveller to the U.S., get paid or pay your bills in U.S. Dollars, make purchases in U.S. dollars, or are looking to invest in a U.S. dollar registered investment account, then opening a UCU U.S. Dollar Account may be a good choice to optimize foreign transactions.

With a U.S. Dollar Account, you can keep U.S. currency in your account without converting it to Canadian dollars. You can also wait for a favourable currency exchange rate to convert the U.S. dollars into Canadian dollars – taking advantage of the best possible rates.

UCU U.S. Dollar Savings and Chequing Accounts

We offer our Members a U.S. Dollar Savings and a U.S Dollar Chequing Account – each account providing almost the same benefits as our Canadian Dollar accounts.

• U.S. Dollar Savings Account – A daily interest-bearing account with no monthly fees.
• U.S Dollar Chequing Account – A chequing account with no exchange fees and per-transaction fee

Advantages of a U.S. Dollar Account

There are many advantages to keeping a U.S. Dollar Account with UCU.  With the U.S. Dollar Account you can do the following:

• Earn interest on U.S. dollars
• Deposit U.S. dollar cheques
• Have easy access to U.S. funds whenever you need it
• No monthly fees
• No currency conversion fees
• Eligible for UCU U.S. Dollar Term Deposits
• Eligible to invest in U.S. Dollar registered investment accounts 

Limitations of a U.S. Dollar Account

The advantages of a U.S. Dollar Account are great but there are some limitations. With a U.S. Dollar Account you can’t do the following:

• Currently, UCU does not offer U.S. dollar debit cards - you can withdraw U.S. currency from your local Branch or pay by cheques from your UCU U.S. Dollar Chequing Account
• You can’t send U.S. Dollars via e-Transfers
• U.S. Dollar Accounts are not insured with FSRA

U.S. Dollar UCU Collabria Credit Card

Consider getting a U.S. Dollar credit card like the one offered by UCU Collabria MasterCard – it will save you money on exchange and transaction fees.

More information about UCU Collabria U.S. Dollar credit card, including how to apply, can be found on our website.

Opening a U.S. Dollar Account is Quick and Easy

To open a U.S. Dollar Account please visit your local Branch and speak with a UCU Member Service Representative or call the UCU Call Centre for more information.