Moving to the US from Canada: Complete 2026 Financial Guide
Banking, credit, taxes, insurance, housing — the financial checklist every Canadian needs before and after crossing the border.
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Before You Move
- Keep your Canadian bank accounts open — you'll need them for tax refunds, RRSP access, and transfers
- Apply for a US credit card from Canada — RBC and TD offer cross-border products that give you a head start
- Set up a Wise multi-currency accountPartner to move money between CAD and USD at the real exchange rate
- Gather your documents — you'll need them for SSN, banking, and housing applications
Your First Week in the US
Day 1–2: Apply for your Social Security Number at your local SSA office. Bring your passport, TN approval (I-94), and offer letter. Processing takes 2–4 weeks.
Day 3–5: Open a US bank account. Chase, Bank of America, and Wells Fargo all accept TN visa holders with a passport and I-94. You don't need an SSN to open an account — you can add it later.
Banking & Credit
You arrive in the US with zero credit history. Your Canadian score doesn't transfer. To build credit fast: get a secured credit card, become an authorized user on a colleague's card, or use services like Nova Credit that translate your Canadian credit history for US lenders.
For ongoing transfers between Canada and the US, WisePartner consistently offers the best rates — far cheaper than bank wire transfers.
Taxes: Dual Filing Your First Year
The year you move, you'll likely file taxes in both countries. In Canada, you file as an emigrant for the portion of the year you were resident. In the US, you may qualify as a resident alien under the Substantial Presence Test (SPT) or elect to file as one.
The Canada-US tax treaty prevents double taxation, but you need to file correctly to claim treaty benefits. See our complete tax guide for details.
Health Insurance
Most TN holders get insurance through their employer — review your plan carefully, as US healthcare works very differently from OHIP/MSP. If your employer doesn't offer coverage, you can purchase a plan through the ACA marketplace (healthcare.gov). Don't go without coverage — a single ER visit can cost $5,000+.
Housing Without Credit History
Landlords run credit checks, and you won't have a US score. Prepare to offer 2–3 months' rent upfront, provide your employer letter and offer letter as proof of income, or use a corporate housing service for your first few months. Some landlords accept international credit reports via Nova Credit.