Does anyone have recommendations for a good US-based bank that will allow Canadian residents to open business accounts?

I'm looking for something that's convenient and reliable, even if it costs a bit more than the cheaper banks.

Thanks.
Rehan

I know Wells Fargo offer International accounts. From a brief time emailing them, I think they main thing they want is three references from local banks in your country. There's probably a little more to it than that, but it seems the crux of it.

Greg Moore

Try TD Waterhouse. Their US bank account is designed specifically for this. It's different than the US bank accounts available through TD Canada Trust and other Canadian financial institutions.

Thanks for the suggestion... I already have a personal TD Waterhouse Bank, but I was looking for a business account. I don't think they offer those, do they? I guess I'll have to call and find out.

Harris Bank seems to offer them, I found that from this site. Let me know how it went as I am searching for a way to get a merchant account for an internet business which is what this website offers to Canadians. I haven't decided to go with them or not, I am still researching.

http://canada-cardservice.com/harris_bank.htm
http://canada-cardservice.com/

I decided to go with PlanetPayment and an account with a Canadian bank. PlanetPayment's rates, if you're settling in Canadian dollars, are:

Monthly fee: US$25
Discount fee: 4.25%
Transaction fee: none

That's a very good deal for web hosting, which typically involves small monthly amounts. The other advantage is that you can accept payment in multiple currencies...you may lose a tad on the currency exchange, but it's still better than billing in Canadian dollars and upsetting your customers with currency exchange fees of 5% or more.