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?
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.