<p>I am an American interested in opening a Canadian bank account for use in paying McGill bills and as my source for pocket cash while in Canada. Most of the funds for this account will be coming from a US bank. Any recommendations?</p>
<p>Are there any US credit cards that don't charge currency conversion fees? That feature once was a selling point, but now appears to be nearly extinct.</p>
<p>Any bank listed in the McGill payment website would be fine. TDBank is a good one, there are plenty of TD ATMs in Montreal, and if you live in the Eastern part of the US, you can open a US TDBank that can be used to transfer money from the US to the Canadian TDBank but only by phone and there was a limit last I check which was not very convenient for me.</p>
<p>Since then I found this money exchange service called xe.com, this has been the best way to move money from US bank account to Canadian bank account for me. You can link a US bank account and a Canadian bank account to your xe account and transfer money online. I have the best rate which is usually a tiny bit better than the bank transfer, and it is usually done within 3-4 days. The setting up the link to the bank accounts was a little confusing (a lot of numbers), but once you set it up, it works really well.</p>
<p>As for credit card, anything offered by Capital One will have no foreign exchange fee. There are many other cards also but you need to find the right one in family of cards from the company that offer no foreign fee. Also TDBank debit card on US checking account can withdraw cash from Canadian TD ATM with no fee.</p>