Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Joan Osland Graffius who wrote (248459)	7/4/2003 2:50:59 PM
From: David Zgodzinski	Read Replies (1) of 436258

Joan checked with my branch of the Royal Bank. All five of the big Canadian charter banks are relatively conservative - they are also lazy and not great with customer service because of lack of competition - though I hear that's a problem down there even with lots of competition . . . It's funny but they don't seem to have a lot of US citizens trying to open accounts so they weren't all that clear about the details. They say you need a passport and one other form of ID and you can open a "non-resident" account. Taxes are withheld but the woman in the branch didn't know where the taxes went, only that they are taken directly from the account (I assume they go to the Canadian government with receipt for US tax purposes - you could check with Revenue Canada) I know that a lot of US banks in cities along the border have Canuckistanian account holders (from years of separatist threats and fear for the loony, etc.) and I'm sure they know all the rules about foreign accounts very clearly in those banks. We're not used to Americans wanting to shelter funds up here.

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