Instant, Free, Simple USD bank account in Canada 🇨🇦

Bank accounts haven’t changed for 100 years. So rather than giving you the same old account, we got our hands dirty and gave you a USD account that has free p2p payments, gives you up to 5.5% interest on your holdings, bridges to digital assets, lets you do ACH, SWIFT, and wire transfers while you securely hold your digital dollars using Obvious Money

It’s free and always will be!

Obvious Money is a financial technology company, not a bank. Banking services are provided by Layer2 financial services Inc.

Obvious money appObvious Money app

Beyond an ordinary USD bank account

Earn interest on your funds

Earn interest on your funds

Earn up to 5.5% APY on your funds. Withdraw anytime, anywhere, any amount

Seamless Bank transfers

Seamless Bank transfers

Receive and send payments through ACH, WIRE, Swift transfers

Remit USD to your local bank account at the lowest cost

Remit to your local account

Remit USD to your local bank account at the lowest cost possible!

P2P Transfers to any phone number

P2P Transfers to any phone number

Send money to anyone globally with just a phone number for free!

How to open a free USD bank account from Canada

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Download the Obvious Money app from the App Store or Play Store
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Download the Obvious Money app
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Sign up for the app using your phone number
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Sign up for the app using your phone number
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Set up a Passkey for authentication and account recovery. This will help you regain access if you lose your account
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Set up a Passkey for authentication and account recovery.
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Verify your identity by providing basic details. This is required to use the Obvious Money app
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Verify your identity by providing basic details.
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Once you've completed these steps, click on "Get US Bank Account" and proceed to KYC verification. This will unlock your free US bank account
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Once you've completed these steps, click on "Get US Bank Account" and proceed to KYC verification.
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You'll receive a notification when your KYC is approved. Then, you can add funds to your account
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You'll receive a notification when your KYC is approved.
Get US bank account using Obvious Money

Frequently asked questions

How do I send USD to another US bank account?

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You can send USD via ACH, Wire, or SWIFT transfer. The amount and time to send the funds will vary depending on the method chosen for transfer. Additionally, you can use Obvious Money p2p transfer to send funds using a phone number which is instant and free of cost.

Is Obvious Money a bank?

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No, Obvious Money is not a bank nor a licensed financial institution. Obvious is a software company, that provides financial services in partnership with Layer2 Financial Inc, which is a licensed BAAS provider.

How do I convert USD to my local currency

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You can send USD from your Obvious Money bank account using an International Wire transfer to your local bank account. Your local bank account shall convert it at the prevalent dollar rate. It usually takes up to 3 days and can vary depending on your region.

How does Obvious Money work?

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Obvious Money provides a banking account on top of blockchain rails. When you receive USD in your account, it gets automatically converted to USDC(digital dollars provided by Circle) and stored in your account. When you send funds over ACH or International Wire, USDC gets converted to USD instantly and is sent over traditional banking rails.

Who can open a USD bank account?

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USD bank account via Obvious Money is available in 150+ countries. You can check the eligibility for your country by checking on the website. After your KYC gets approved, you can start using your account.

What documents do I need to open a bank account on Obvious Money?

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You need a passport or local national identity proof to complete KYC and open a bank account.