$0 Monthly Fees
Pay no monthly fees and no transaction fees.
Cash Rewards
Earn profit-sharing cash for having a USD account with us.
Interest
Your entire balance will earn our best rate.
No Balance Requirements
Earn interest whether your balance is $5 or $5,000.
Convert in Seconds
Convert your cash to USD with a simple transfer in online banking.
Cheques
Deposit and issue USD cheques.
Questions
How is interest calculated on my USD account?
It's calculated daily and paid monthly.
Will the interest I earn be in USD?
Yes, the interest you earn will be in US funds.
Do I have to pay any taxes on the interest I earn?
Yes, your USD account earnings are taxable under the Canada Revenue Agency.
Will I be taxed in USD?
The interest you earn will be converted into Canadian dollars for tax purposes. If you earn over $50 in a year, we will issue a T5 Statement of Investment Income for you.
Need more help choosing an account?
- Try our Account Selector Tool.
- To compare bank accounts, you can view the FCAC Account Selector Tool.
Learn more about our accounts and services. Review our Account and Fee Information (pdf).
Identify the interest rates applicable to your account(s) and how they're calculated. Review our About Our Interest Calculations (pdf) document.
* The Collabria Visa Card is issued by Collabria Financial Services Inc. pursuant to a license from Visa.
Calculators on the site are made available to you as tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please contact us directly to seek personalized advice from qualified professionals for all personal finance issues.
The US Account does not have debit card/Debit Mastercard® access. Only the Balance Inquiry feature and electronic transfers to other Innovation US Accounts through online banking and telephone banking are available for this account. Service charges per debit transaction will apply.