Chapter 08 · Banking & cards
Comparison: RBC vs BMO vs TD for Canadians in Florida
Complete 2026 table: RBC, BMO, TD — fees, transfers, ATM, account opening.
Direct answer · 60-second summary
The 60-second version
RBC / BMO / TD comparison — three major Canadian banks offer U.S. accounts. Each has advantages: fees, transfers, ATM access. Choose based on your needs: occasional snowbird vs. permanent Florida resident.
Acronyms used in this guide
- RBC — Royal Bank of Canada
- BMO — Bank of Montreal
- TD — Toronto-Dominion Bank
- FX — Foreign Exchange
2026 comparison table
| Criterion | RBC Bank | BMO Bank N.A. | TD Bank |
|---|---|---|---|
| Account opening | Online 5 min | Online or branch | U.S. branch required |
| Annual fees | $0 year 1, then varies | $0 if min. maintained | $0 if $250 min. maintained |
| Transfer to RBC/BMO/TD Canada | $0 unlimited, instant | Limited; fees possible | $0 via Visa Direct |
| ATM network | 50,000+ Allpoint | 20,000+ CO-OP | 13,000+ Co-Op |
| Credit cards | Yes, zero FX option | Yes, 2.5% FX | Yes, 2–3% FX |
| Canada integration | Excellent (same bank) | Very good (same group) | Excellent ("Borderless") |
Recommendations by profile
- Frequent snowbird (3–6 months/year) → TD Borderless: fee-free transfers, accessible minimum balance.
- New Florida resident → RBC Bank: simple online opening, mortgages available.
- Business/professional → BMO Bank N.A.: 500+ branches, commercial services.
- Balance fees/service → TD or RBC depending on desired branch proximity.
Opening without SSN: all three accept
RBC, BMO, and TD accept applications from Canadians without a U.S. Social Security number. Present a Canadian passport, Canadian address, and an ITIN if you have one.
Every figure, rate, threshold, and deadline in this guide is drawn from a verifiable primary source listed at the bottom of the page. The article is updated whenever the underlying rules change, with a fresh review date stamped at the top.
Sources and references
Public sources verified as of the last review date (IRS, FinCEN, Federal Reserve, FDIC, OCC, RBC/BMO/TD official, CFPB, CRA).
Disclaimer
This guide is for educational purpose only. Figures, rates, thresholds, timelines and rules are drawn from public sources at the date shown and may change.
For any concrete decision, consult a cross-border tax attorney, a cross-border certified accountant, or a credit counselor.