Paying in US dollars in Florida: no-FX-fee cards, Wise or a US account? (2026)

Updated October 7, 2026 · Money and taxes · By the Escale Floride editorial team (how we work)

Sailboats near Key West · public domain photo

In short Most Canadian cards add about 2.5% on every purchase in US dollars. For a stay of a few weeks, a card with no foreign transaction fees is enough. For a long stay or rent to pay, a US account from a Canadian bank (TD, RBC, Desjardins) or Wise cuts fees considerably.

The options compared

Option	Cost	Best for
Regular credit card	~2.5% on every purchase	Avoid when travelling
No-FX-fee card	0% foreign exchange fees; annual fee of $0 to $399 depending on the card	Everyday purchases, short stays
Wise (account and card)	Conversion from about 0.19%; free withdrawals up to C$100 a month	Everyday spending, rent transfers
US account from a Canadian bank	Transfers between your Canadian and US accounts, often free	Long stays, condo owners

Some no-FX-fee cards

As of October 2026, Canadian cards with no foreign transaction fees that were cited include: Home Trust Preferred Visa (no annual fee), Scotiabank Gold Amex, Scotiabank Passport Visa Infinite, Wealthsimple Visa Infinite and the Brim Mastercards. Terms change: check before applying for a card.

US accounts from Canadian banks

TD Bank: more than 1,200 branches from Maine to Florida; free digital transfers between TD Canada Trust and TD Bank, up to US$5,000 a day.
RBC Bank: accounts designed for Canadians, instant CAD-USD transfers with RBC Royal Bank, US Visa card with no foreign transaction fees.
Desjardins Bank (headquartered in Hallandale Beach): US-dollar accounts opened online by Desjardins members, Zelle, mortgages.

The new 1% US tax

Since January 1, 2026, the United States has imposed a 1% tax on certain money transfers. It only applies to transfers paid in cash, money order or bank draft. Transfers made from a bank account or by card are not subject to it.

What to choose?

2 to 4 weeks: a card with no foreign transaction fees.
1 to 6 months in a rental: a no-FX-fee card, plus Wise or a US account to pay the rent.
Condo owner: a US account from a Canadian bank for condo fees, property tax and bills.

Key takeaways

The 2.5% fees on regular cards add up quickly.
A no-FX-fee card for purchases; Wise or a US account for large amounts.
The 1% tax only applies to transfers paid in cash, money order or bank draft.

Leave without forgetting anything

The complete checklist: more than 65 items to tick off, from 2 months before you leave until you're back. 6-page PDF, 2026 rules.

See the checklist ($9)

Sources

General information only, not financial advice. Fees and terms change often: check with each institution.