When Peter and Brenda decided to retire to Florida, their RBC advisor set them up with a U.S.-based bank account and debit card, as well as a U.S. issued credit card. Before having these products, they used to pay for purchases with their Canadian credit card, which added foreign transaction fees and complexity to their U.S. spending. They would also cross the border with U.S. cash and travellers cheques – enough for their entire stay.
Now, Peter and Brenda can cross the border with virtually no U.S. cash, as they can access what they need, when they need it while in the U.S. Plus, they can easily manage their finances online – just like they do when they’re in Canada.
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