Exchanging large sums of money?

Here is a way to get a better exchange rate than those offered by conventional banks or foreign exchange kiosks.


Contact Justin at AFEX to discuss the best way to exchange and move your money:

Justin Butler
Head of Private Clients   O: 818-728-3266   M: 630-842-4989  E:
Associated Foreign Exchange
AFEX    21045 Califa St     Woodland Hills    CA 91367
T   +1 888 307 2339    F  +1 818  728 3277    E

Building Credit
As a new alien resident of the US you will have to build your credit history from scratch.
This can only be done once you obtain your social security number. Make sure to give the bank that information right away, so you can start building credit history.

I mentioned a couple of ways to get a US dollar credit card using your Canadian credit history, but building a history with a US based bank is most important.  It is also a must if you ever want to take out a loan, lease a car and avoid putting down large deposits in order to obtain basic utilities such as phones, hydro, etc.
A great way is to apply for a Prepaid Credit Card. (It’s a regular credit card, but you have to put your own money on it, in order to use it.)
Once you open your bank account, you have to apply for the card and put down a few hundred dollars.
It seems backwards, but with the credit crunch in the US, it’s one of the only ways to build credit.
Use the card normally like a credit card and make sure you pay it back/top it up each month.
It’s like a trainer credit card, so the bank sees that you will pay your bill on time.
The bank manager said it would take about a year to actually qualify for a real credit card but after a few months I started receiving credit card applications from other banks.
One myth that I’ve heard is to try and apply for retail store credit cards to build your history. This actually has a negative effect on your credit score and does not help to build credit.

If you have a Canadian AMEX card, you can apply for a US AMEX based on your Canadian credit history.
One downside is, not all businesses accept American Express.

If anyone has tips on how to build US credit, please share.

Cross Border Banking & Mortgages

RBC USA specializes in Canada/US banking.

TD Canada Trust also has cross border banking options:

HSBC specializes in foreign loans and can work with your existing Canadian income. 

Molly M Sakahara
Vice President, Senior Premier Relationship Manager, HSBC Bank USA, N.A.
Licensed Sales Professional, HSBC Securities (USA) Inc.
NMLS # 628389
1055 E. Colorado Blvd. Suite 110
Pasadena CA 91106
Phone.     (626) 568-0893
Fax.         (626) 568-0853

BMO Harris Bank specializes in US mortgages using your Canadian credit history.

BMO Harris Bank 
Timothy P. Monroe | Mortgage Banker
Customer Contact Center
Harris | 700 E. Lake Cook Road | Buffalo Grove, IL 60089
(P) 800-574-1454, Ext. 2785 | (F) 847-520-0868
Visit Harris online at:


  1. You can get an RBC USA account and they will use your Canadian credit history for a credit card app. You can also seamlessly transfer funds between RBC USA and RBC Canada.

  2. A Credit Union gave us a credit card right away based on the employment offer letter. They have upped our credit regularly. But they say it will be at least a year or two before anyone will give us a mortgage.

  3. Could u please let me know how and where to get a corporation exchange account? I'm a self employee with HST number.


  4. Hello,

    Is any of BMO Harris, RBC USA, or TD available in San Jose, Calif?


  5. Hello,

    Has anyone had a positive experience using BMO and Harris bank to transfer money? I have been led to believe that you can get cheap transfers between the two, however the two banks seem to have conflicting info.

    Thank you!