What is a Business U.S. Dollar account?
If your business regularly sends, receives or saves money in U.S. dollars, a Business U.S. Dollar account with Conexus helps make managing your USD simpler. Use it to receive and hold U.S. funds, make payments and manage your cross-border transactions without unnecessary currency conversions. You can also access your account through online and mobile banking, with statements available electronically or on paper.
Whether you’re paying suppliers, receiving customer payments or preparing for cross-border purchasing, a Business U.S. Dollar account gives you a convenient way to manage your U.S. funds while keeping them secure and accessible.
Benefits of a Business U.S. Dollar account.
Skip repeat conversion fees.
Hold your funds in USD and reduce or avoid repeated currency conversion costs.
Protection from rate swings.
Avoid unexpected costs from fluctuating exchange rates by keeping funds in USD.
Faster U.S. payments.
Make U.S. payments and deposits easier — and receive USD without automatic conversion.
Business U.S. Dollar account rates.
Earn interest on your USD balance while it waits for its next job.
Description
$0.00 - $1,500.00
$1500.01 - $5,000.00
Over $5,000.00
Is this account right for your business?
If your business deals with the U.S. market in any way, this account helps you stay prepared. It's a great fit for businesses that:
- Send or receive payments in U.S. dollars
- Want to avoid exchange rate fluctuations
- Buy inventory or supplies from U.S. vendors
- Operate cross-border or have U.S. clients
- Want to save USD for future expenses or travel
Complete your cross-border toolkit.
Common questions.
Here’s what people ask us the most.
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A Business U.S. Dollar account can help reduce unnecessary currency conversions when you regularly receive or make payments in U.S. dollars. By holding USD until you need to convert it, you can avoid converting funds back and forth for every transaction.
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At Conexus your eligible deposits are 100% protected by the Credit Union Deposit Guarantee Corporation.
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It can help reduce your exposure to exchange-rate fluctuations by allowing you to hold U.S. dollars until you’re ready to convert them, rather than converting funds every time you receive or make a payment.
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Yes. A Business U.S. Dollar account allows you to receive U.S. dollar payments without automatically converting the funds to Canadian dollars.
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Ask your advisor about U.S. Term Deposits, which let you earn a guaranteed rate on USD funds you can commit for one to five years. This may offer a higher return than keeping larger balances in your U.S. Dollar account.
Still have questions? We're here for you.
Our Business Advisors offer personalized guidance to help you find the right account and banking solutions for your business. Book an appointment to get started today.
