Spend, save, and earn interest on U.S. Dollars.
Pick our hybrid U.S. Chequing and Savings account to hold, use, write cheques and earn interest on U.S. Dollars without converting money back and forth every time.
Hold and spend U.S. Dollars- Earn interest on U.S. currency
Monthly account fee
$0
Hybrid U.S. Chequing and Savings features our members like
Manage, spend, and grow your U.S. funds without ever crossing the border. Enjoy pay-as-you-go with two free monthly withdrawals, making it an ideal, cost-effective solution for cross-border shopping, travel, and managing your American currency.
GrowEarn interest in U.S. Dollars
Earn monthly interest on the U.S. dollars you keep in your account.- Keep U.S. cash ready for travel, shopping, or payments across the border.
- Let your U.S. dollars keep working while they wait for the next time you need them.
SpendWrite U.S. Dollar cheques
- Write cheques in U.S. dollars directly from your account.
- Pay U.S. suppliers, services, or other USD expenses without converting every payment to Canadian dollars.
- Keep U.S. dollar payments organized in one chequing account, while you earn interest on it.
SaveAvoid unnecessary conversion fees
- Keep U.S. dollars in U.S. dollars, so you are not converting money every time you need it.
- Pay for U.S. purchases, trips, or expenses from the funds you already hold.
- Save on unnecessary conversion fees when you already have U.S. money ready to use.
Reach your goals faster
Spend, save, and earn interest in U.S. dollars all in one place. Review the breakdown of account details, fees, and transactional limits below to find the right fit for your needs. Here are the key fees and details to know about our US Spend and Save account. View all rates here.
| Features | US Spend and Save |
|---|---|
| Monthly fee | $0 to open. Pay as you go. |
| Minimum deposit required | $0 |
| Transactions | 2 debit transaction included each month |
| Additional transactions | $1 |
| Interest | Paid monthly, calculated on daily closing balance |
| Cheques | At current market pricing |
| E-statement | Included |
| Printed statements | $2.50 |
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Calculate CAD and USD conversion rates
See what your Canadian or U.S. dollars are worth before you exchange. Use our CAD and USD exchange rat calculator to run the numbers.
Get started in minutes
Opening a U.S. Dollar account is quick and straightforward. Just follow these three simple steps to get started. When you're ready open an account in minutes.
- 1
Open your account
Easily open your account online in under 2 minutes.
- 2
Fund your account
Move your money over from another Financial Institution in a few taps.
- 3
Grow your wealth
Save for today, borrow for what’s next and invest for later.
I can earn interest in USD?
Commonly asked questions
Yes. Interest is paid monthly and calculated on the daily closing balance. Check current rates before opening an account.
No. There is no minimum deposit required to open the account.
The account includes 2 free withdrawals each month. Additional transactions are $1.00 each.
Yes. U.S. dollar cheques are available at current market pricing.
Yes. If you already have U.S. funds, this account can help you hold them in U.S. currency instead of converting them back and forth.
No. FSRA states that foreign currency deposits are not covered under its deposit insurance program.
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Legal stuff
*Six-month payroll offer
Eligible members who arrange qualifying recurring payroll direct deposits to their YNCU Everyday Chequing account can receive a waiver of the monthly account fee for six months. The waiver applies to the monthly account fee only. Charges for transactions and services not included with the account remain payable. After the waiver ends, the applicable regular monthly account fee applies. Eligibility requirements, qualifying payroll deposits, enrolment deadlines and the start of the waiver period are subject to the full Payroll Offer Terms and Conditions.
Account eligibility and agreements
Accounts are offered by Your Neighbourhood Credit Union Limited (“YNCU”), an Ontario credit union. Account opening is subject to applicable membership requirements, identity verification and account eligibility requirements. Your account and related services are governed by the applicable account, debit card and digital banking agreements provided to you.
Fees and included transactions
Monthly account fees, included transactions and additional charges vary by account. A $0 monthly account fee or monthly fee waiver does not waive charges for transactions or services that are not included with your account. Additional charges may apply for services such as printed statements, bank drafts, wire transfers, cheque orders, overdrafts and withdrawals at non-participating ATMs. See the applicable account details and YNCU’s Fee Schedule for current charges.
Unlimited self-serve transactions
Where included with an account, “unlimited self-serve transactions” means there is no monthly limit on the number of eligible self-serve transactions included with that account. Transaction dollar limits still apply. Branch-assisted transactions and services not included with the account may carry additional charges. See the applicable account details and Fee Schedule.
Interac e-Transfers
Where unlimited Interac e-Transfers are included with an account, no separate sending fee applies to eligible transfers made through YNCU digital banking. Transfer dollar limits and applicable service terms still apply. Charges may apply to related services that are not included with the account.
Participating ATM access
Surcharge-free ATM access is available at participating ATMs in Canada. Surcharge-free access refers to the ATM network or operator surcharge; account transaction charges may still apply where the transaction is not included with your account. Withdrawals at non-participating ATMs may incur YNCU fees and ATM operator charges. ATM locations and availability may change.
Interest rates
Where a chequing account earns interest, rates are expressed as annual rates and may change. Interest eligibility, balance requirements, calculation methods and payment frequency depend on the account. Not all chequing accounts earn interest. See the applicable account disclosures and current rate table for details and effective dates.
Access to funds
Deposits may be subject to holds. Withdrawals, transfers, debit purchases and other transactions are subject to available funds, applicable transaction limits and the terms of your account and related services.
Online account opening
Online account opening is available to eligible applicants and is subject to successful identity verification. Completion times vary. Additional information or assistance may be required before your account can be opened or used.
Digital banking and mobile wallets
Digital banking and mobile wallet features depend on your account, eligible card, compatible device and supported software. Internet or mobile connectivity is required, and your service provider’s charges may apply. Service interruptions and scheduled maintenance may affect availability. Applicable transaction limits and service terms apply.
Buyer Protection and Extended Warranty
Where included with an eligible YNCU debit card, Buyer Protection and Extended Warranty coverage applies only to qualifying purchases and is subject to the applicable certificate of insurance. Coverage limits, exclusions, eligibility requirements and claim deadlines apply. Review the certificate for full details.
Deposit insurance
Eligible deposits in Canadian dollars are protected by the Deposit Insurance Reserve Fund administered by the Financial Services Regulatory Authority of Ontario (“FSRA”). Basic coverage for eligible non-registered deposits is up to $250,000 per depositor at YNCU, including principal and interest combined. Eligible deposits in registered accounts have unlimited coverage. Separate coverage may apply to qualifying joint, trust and business accounts under FSRA’s rules. Deposits held at different YNCU branches are not separately insured. Foreign currency deposits, including U.S. dollar accounts, and membership shares are not covered. Visit FSRA’s deposit insurance page for coverage details and exclusions.
Trademarks
Interac and Interac e-Transfer are registered trademarks of Interac Corp., used under licence.
Visa is a trademark of Visa International Service Association, used under licence.
Apple Pay is a trademark of Apple Inc., registered in the U.S. and other countries and regions. App Store is a service mark of Apple Inc.
Google Pay and Google Play are trademarks of Google LLC.
Samsung Pay is a trademark of Samsung Electronics Co., Ltd.
Other trademarks appearing on this page belong to their respective owners.