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If you’re searching for an outstanding US chequing account, The Coast Capital US Chequing Account is highly recommended. It’s hailed as the ideal solution for Canadians who want to transact in US dollars.
The Coast Capital US Chequing Account offers affordable, easy-to-use banking with no monthly fees. Key features include unlimited deposits, one free monthly withdrawal, and transaction fee waivers for accounts maintaining a $1,000 minimum balance.
The account provides free eStatements and allows for transactions in US dollars. Additional perks include a vast ATM network and convenient mobile banking.
Let’s dive into the features, pros, cons, fees, and special offers associated with this account. And we’ll also explore some other options from Coast Capital.
Coast Capital US Chequing Account Features
Every chequing account comes with a specific list of features that sets it apart. These are some of the features you can look forward to when opening this chequing account:
- Write cheques in US dollars: Allows for transactions in US currency, bypassing the need for constant currency conversion. Ideal for regular transactions in the US.
- No monthly fee: The account doesn’t have a monthly fee, offering simple, cost-effective banking and freeing up funds for other financial needs.
- Free deposits and one free withdrawal per month: Enjoy unlimited deposit freedom and one free withdrawal each month, balancing the needs for saving and spending.
- Minimum balance fee waiver: Transaction fees are waived when maintaining a minimum balance of $1,000 monthly, incentivizing a healthy account balance.
- Free eStatements: Gain anytime, anywhere access to your account details online with free eStatements, eliminating the need for paper statements and simplifying finance management.
The pros of the Coast Capital US Chequing Account
There is No Monthly Fee
The standout benefit of the Coast Capital US Chequing Account is its lack of a monthly fee. This makes it an affordable option for those who require a US dollar account but don’t plan to use it frequently.
Transaction Fee Waiver
Another benefit of this account is the transaction fee waiver for those maintaining a minimum monthly balance of $1,000. This feature offers significant savings to account holders who regularly make transactions.
eStatements are Free
The Coast Capital US Chequing Account also offers free eStatements. This feature lets customers easily track their transactions, balances, and more in real time.
Unlimited Deposits (and a Free Withdrawal)
This chequing account allows unlimited deposits into the account, giving customers a lot of flexibility. Additionally, the provision of one free withdrawal per month is a bonus that can come in handy, especially for those who need to perform frequent withdrawals.
Pay in US Dollars
For those who need to transact regularly in US dollars, this account allows cheques to be written in US currency. This can be a significant advantage for users who deal with US-based entities, avoiding the need for constant currency conversion and providing a smoother transaction process.
Convenient Banking with Mobile App
The Coast Mobile Banking app lets you manage your account from your smartphone. From transferring funds and paying bills to depositing cheques, the app provides a convenient and efficient banking experience.
Access to Wide ATM Network
With this chequing account, you can access over 4000+ ding-free ATMs across Canada. This means you can withdraw cash or perform other ATM transactions without worrying about additional fees from out-of-network ATMs.
The cons of the Coast Capital US Chequing Account
Limited Free Transactions
The major downside of this chequing account is that it only includes one free withdrawal per month. This could be a significant disadvantage for users needing to withdraw funds more frequently.
Fees for Additional Transactions
Additional transactions beyond the one free withdrawal each month will incur a fee of $1.00. This could add up quickly for those making several transactions per month.
Coast Capital US Chequing Account fees
It’s always prudent to know what fees you’re in for before committing to a new chequing account. And the crucial fees to consider for this particular US chequing account are as follows:
- Monthly fee: None
- 1 transaction included
- Additional transactions: $1.00 each
- Optional Paper statement fee: $3 US per month
Coast Capital US Chequing Account special offers
Coast Capital offers up to $400 cash for a limited time when you become a member and open a free chequing account. This offer provides a significant incentive for potential new members.
Other Coast Capital Chequing account options
If the Coast Capital US Chequing Account doesn’t meet your needs, consider these other options:
- Coast Capital Free Chequing, Free Debit, and More Account: This account has no monthly fee and offers unlimited transactions.
- Coast Capital Chequing Prestige Account: This account comes with a $21 monthly fee (waived if maintaining a $5,000 balance) and offers many daily banking transactions.
- Coast Capital Chequing Classic Account: This account has an $11 monthly fee and includes 40 day-to-day transactions per month.
How to open a Coast Capital US Chequing Account
Should you opt for this chequing account, you’ll be happy to know that the application process is a breeze:
- Visit the Coast Capital website and click on “Apply Online.”
- Fill out the online application with your name, personal information, and contact details.
- Upload proof of ID.
- Purchase $5 in Membership Equity Shares to become a member of Coast Capital.
Once your account has been opened, you can deposit funds and sign up for online banking. Your debit card will be mailed out within 10 to 14 business days.
Coast Capital US Chequing Account conclusion
The Coast Capital US Chequing Account is a versatile and cost-effective solution for individuals requiring regular transactions in US dollars. It’s a user-friendly platform that offers a plethora of benefits. These include no monthly fees, unlimited deposits, and transaction fee waivers for those maintaining a $1,000 minimum balance.
Having the convenience of free eStatements and the flexibility to write cheques in US dollars further enhances the account’s appeal. And with access to over 4000+ ATMs and the handy Coast Mobile Banking app, managing your finances is just a click away.
Bear in mind that every financial decision should align with your personal or business needs. As such, ensure you evaluate all the features and benefits of an account before choosing a banking solution.
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