Hubert Offers High Interest Savings Account for US Funds | Hubert Financial | Discussion forum

Having a no-branch $US account probably doesn't make much sense unless you are parking a goodly amount of greenbacks, In that case, you could just keep the BMO account with a small amount for physical transactions and those "couple hundred on the way to the border" things, and put the bulk in the online account for the interest.

However, I notice that Hubert talks about wire transfers to "another US account". This would seem to indicate that you can't set up the normal external account transfer to a $US account at a Canadian bank. This would lock the $US dollars in pretty tightly at Hubert if the only way to get them out is to wire them for $22.50! BTW, their exchange spread for <$25,000 seems to work out to 1.8% - not quite as good as TD's rate for its "Borderless" customers or ING's spread.

I checked with Ally (via online chat), and they seemed to indicate that with their $US account, you could connect it to a $US account at a Canadian bank, just like with their $C accounts. This would be much more useful. ING's wording is unclear as to whether you can link theirs to a $US account at another Canadian bank.

I suspect the 0.75% is intended to be stable - Ally is offering 0.65% and ING 0.5%, all of them miles above the 0.05%-0.25% offered by the big banks.