Using Banks and Bank Accounts/Canadian Banking


In Canada, just about any kind of savings account earns, at the most 1.2% / 1.35 %, so any investment in banking draws very little interest.  My question can a Canadian deposit funds in a US bank and gain a higher rate of interest than this?
And with the default of many financial institutions in the states, who would be the most trustworthy in your opinion to deposit a sum of investment monies in?Can you give me any information on this idea?

Hi Priscilla,

Unfortunately the rates you just mentioned are very high, I don't think a bank in U.S exists that will pay you over 1% on any savings account in today's economy and if a bank would pay you that much in the U.S, I would be worried that they are strapped for deposits very very bad.

I am sure you can deposit money in any U.S bank and be covered under FDIC, but from the rates you are mentioning I'd keep it in a Canadian bank.

Good Luck!

Using Banks and Bank Accounts

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Anything pertaining to Commercial or Retail Banking. Including, Interest rates, Lending, as well as Prime Rate questions. Also can help with online banking questions including all regulations.


Retail and Commercial banking since 2002. Currently employed as an Assistant Vice President at a Commercial Bank.

Chamber Of Commerce, National Notary Association

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