Is a US dollar account fee the same as my Canadian chequing fee?

No. The Canadian package and the USD account are different products. BMO is the exception in this table: the USD chequing account has no fee of its own, and the Canadian plan fee still applies.

Which of these accounts let me spend with a debit card?

Not all of them. EQ Bank, Simplii, and National Bank's USD Progress Account say debit or ABM spending is not available. Read the row for your bank before you expect a card to work in the United States.

Does Wealthsimple's $10 fee apply to the savings account?

No. The $10 CAD charge is the trading and crypto USD accounts upgrade. The USD savings page says there is no monthly fee.

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US dollar account fees in Canada, by bank

A US dollar account in Canada keeps the balance in USD so a trip or a US payment does not convert on every purchase. The monthly fee is not the same as your Canadian chequing package. Some accounts charge a monthly fee. Some charge nothing monthly and then charge for each withdrawal. Check the current fee schedule before you rely on a dollar.

Last updated: October 18, 2026

Last checked: Oct 2026

Read the account name, then the currency

A fee on a US dollar account is charged in US dollars unless the bank says otherwise. It is not the $4 Canadian package fee on a Day to Day or Everyday chequing account. Those Canadian package fees are on monthly chequing account fees by bank. Converting Canadian dollars into the USD account is a separate exchange rate. The percent a card issuer adds on a foreign purchase is a third charge, on foreign currency conversion fees by Canadian bank.

A savings account and a chequing account are not the same product. A savings account may block debit purchases, ABM withdrawals, or cheques. A chequing account may include a few debits and then charge for the next one. Match the name on your statement to the row below. Amounts can change. The page for your account is the one that controls the fee.

Opened 18 October 2026. Dollars are US dollars unless the row says CAD. A blank monthly fee means that page did not print one.
Bank and account	Monthly fee the page prints	How that page says you avoid it
RBC U.S. Personal Chequing	$3.00 a month	No minimum balance on the foreign currency page. 6 debits included, then $1.25 each.
TD U.S. Daily Interest Chequing	$0	Transactions are $1.25 US each. That transaction fee is waived at a $1,500 US daily balance.
TD Borderless Plan	$4.95	$1.95 with a TD All-Inclusive Banking Plan, or $0 with a $3,000 minimum daily balance. Unlimited transactions.
Scotiabank U.S. Dollar Daily Interest	$1.00 or $0	$0 with a $200 USD daily closing balance, or if you are at least 60. Also waived for one account with Ultimate Package.
BMO U.S. Dollar Primary Chequing	No fee for the USD account itself	The Canadian chequing plan fee still applies. Transaction counts follow that plan.
CIBC US$ Personal Account	$0	No transactions included. Each transaction is $0.75 US.
National Bank USD Progress	No monthly fee printed	Cheques and pre-authorized debits are USD 1.25. A bill payment is USD 2. Branch withdrawal is no fee.
EQ Bank US Dollar Account	No everyday banking fees	Not a monthly package. Not currently offered in Quebec. No cheques and no Interac e-Transfer.
Tangerine US Dollar Savings	No service charge printed	A savings account, not chequing. Other fees on the bank fee schedule are charged in USD.
Simplii USD Savings	No monthly service fee	No minimum balance. No cash, no ATM, and no debit purchases on this account.
Wealthsimple USD savings	No monthly fee	No minimum. This is not the $10 CAD trading upgrade.

RBC, TD, and Scotiabank

RBC's foreign currency page, opened 18 October 2026, lists the U.S. Personal Chequing Account at $3.00 USD a month with no minimum balance. It includes 6 debits, then $1.25 each. Optional overdraft protection is $5.00 US a month plus applicable overdraft interest, and that monthly overdraft fee is not applicable to Quebec residents. The U.S. Personal account page prints the same $3 a month, free eStatements, and paper statements at $3.00 a month without a cheque image or $3.50 a month with a cheque image. A long note on that page says the Interac e-Transfer service is not available with U.S. dollar accounts. Bank drafts are $9.95 each plus the applicable debit transaction fee. A high interest eSavings row on the foreign currency page is a different account: 1 debit included, then $3.00 each.

TD's USD fees page prints two accounts. U.S. Daily Interest Chequing is a $0 monthly fee, a monthly transaction limit of 0, and $1.25 each after that. The $1.25 is waived if you keep a daily balance of $1,500 US. Borderless Plan is $4.95 a month, or $1.95 if you also have a TD All-Inclusive Banking Plan, or $0 with a minimum daily balance of $3,000. Borderless includes unlimited transactions. Both rows print overdraft protection at a $0 monthly fee plus 21% annual interest on the overdraft balance. Paper statements are $2 on both, and a copy of a statement or a transaction more than 90 days old is $15 an item. That copy fee is a different line from the monthly account fee. The account page phone is 1-877-700-2913.

Scotiabank's foreign currency page prints the U.S. Dollar Daily Interest Account at $0 or $1.00 US a month. The star says the fee is waived if you keep a minimum $200 USD daily closing balance, or if you are at least 60. The product page also says there is no monthly account fee for seniors, two free debit transactions a month, then $1.25 USD each, and no fee for U.S. dollar drafts. A draft can still count toward the debit limit. The same foreign currency page says the primary holder of an Ultimate Package qualifies for a waiver on one Scotia U.S. Dollar Daily Interest Account, both accounts in good standing, starting the bill cycle after the package is activated. The personal fees page prints the same U.S. $1.00 a month, waived with a $200 minimum daily closing balance.

BMO, CIBC, National Bank, and the online banks

BMO's U.S. Dollar Primary Chequing page says the monthly fee line is no fee for the account, and that the chequing account fee is based on the plan limits. There is no minimum balance for the USD account itself. The Canadian plan still has its own fee and its own transaction count, and USD cash withdrawals at a BMO ATM in Canada count toward that count. A new customer needs a Canadian chequing account before adding this one. The headline also says you pay no monthly fee when you keep a qualifying minimum balance on an eligible Canadian chequing account. Read both sentences together. The USD account does not add a second monthly fee on top of the plan. The plan fee is the one on how to avoid the BMO monthly fee.

CIBC's US$ Personal Account fees page prints a $0 monthly account fee and $0.75 US for each transaction, with no transactions included. A transaction includes debit purchases, CIBC withdrawals, transfers, cheques, pre-authorized payments, and bill payments to the CIBC U.S. Dollar Aventura Gold Visa. Interac e-Transfer and non-CIBC ATM withdrawals are marked not applicable. Paperless statements are free. A monthly paper statement is $2.25 US, a quarterly paper statement is $0.75 US a month, and an interim statement is $5.00 US. The interest table on that page did not load a percent, so none is quoted here. National Bank's USD Progress Account page does not print a monthly package fee. Opening is in a branch only. Branch withdrawals, transfers, and withdrawals for bill payment are no fee. A bill payment is USD 2. Cheques and pre-authorized debits are USD 1.25. You cannot use this account at an ABM, in online banking to move the money, or with a debit card at a store. You can still view transactions online. Paper statements by mail are USD 2.50 a month on that account page. The fee guide PDF prints $3.50 a month for paper on the Progress Account in US$ row. Use the document that matches your account, and ask the bank if the two disagree. Online statements are free on both. Interest needs a balance of $5,000 before a rate applies, and the first tier is 0%. The phone is 1-888-835-6281.

EQ Bank's US dollar fees page says there are no everyday banking fees. Deposits, transfers between EQ accounts, transfers to a linked bank, opening, closing, and a transaction history inquiry are free. An international transfer uses Wise, and Wise charges its own fee. Joint accounts, bill payments, pre-authorized payments, Interac e-Transfer, and cheques are not permitted. The product page says the account is not currently available in Quebec. Interest is paid in USD and can change. Tangerine's US Dollar Savings page says there is no minimum balance and no unfair fees or service charges. It is a savings account. Tangerine's bank fee schedule says fees are charged in the currency of the account, so a fee on this account is in USD. That schedule prints a $10 NSF fee on non-registered savings, a $2 paper statement fee, a $5 reprint, and dormancy fees after two years without a login. Simplii's USD Savings page says there is no monthly service fee and no minimum balance. You cannot deposit or withdraw cash, and there is no ATM or debit purchase access. The interest percent on that page can change, so this guide does not lock one in.

Wealthsimple publishes two different USD products. The USD savings page says there is no monthly fee and no minimum balance, and that you can open up to 8 USD savings accounts. Interest on that page is 2.5% for Core, 3% for Premium, and 3.5% for Generation, calculated daily and paid monthly, and it can change. The separate USD accounts upgrade for stock and crypto trading is $10 CAD a month plus tax after a 30 day free trial, or free if you are Premium or Generation and you opt in. The trade fee schedule says cancelling that upgrade does not give a prorated refund, and the account stays open until the end of the current payment cycle. A $10 CAD line is not the savings account. A conversion between CAD and USD on the trading side has its own percent, from 1.5% under $10,000 down to 0% at $100,000 and over.

Upload the statement on Expenvo. The PDF stays on your device. Expenvo lists bank fee lines it recognizes so you can see the date, the name, and the amount before you call. It does not call the bank, and it does not promise a refund. How to ask is on how to ask your bank to refund a fee.

Questions

Is a US dollar account fee the same as my Canadian chequing fee?: No. The Canadian package and the USD account are different products. BMO is the exception in this table: the USD chequing account has no fee of its own, and the Canadian plan fee still applies.
Which of these accounts let me spend with a debit card?: Not all of them. EQ Bank, Simplii, and National Bank's USD Progress Account say debit or ABM spending is not available. Read the row for your bank before you expect a card to work in the United States.
Does Wealthsimple's $10 fee apply to the savings account?: No. The $10 CAD charge is the trading and crypto USD accounts upgrade. The USD savings page says there is no monthly fee.

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