[sparkyphil]

Hi we are going over to vancouver for a recce trip in Jan and was wondering if it was at all possible to open an account to deposit spare money before we land so we have some extra cash for when we get there.

[iaink]

Yes, it probably is, but you will either need an address to use, or a VERY understanding manager.

[killbill]

There is a thread in this forum on the same topic. I think you can open a bank account but will not be able to use it until you have a residential address.

Hope that helps

[mayersanna]

Hi we opened an account with HSBC in UK then they opened one in Canada for us with a small deposit to open account. Then when we did a research trip we paid some more in very easy. This also helps with credit history we were told by HSBC that you can ask for credit history to be transfered if you have a visa card you use in UK, to build up a good history with.
HTH

[iaink]

Having a bank account does nothing at all for credit rating.

The final credit rating is a composite of individual ratings in five categories:


Payment history (35% of the rating)

Length of credit history (15%)

New credit (10%)

Types of credit used (10%)

Debt (30%)



The only thing thats good for a credit history, is to get and maintain some credit.


http://moneycentral.msn.com/content/...ng/P136689.asp

[mayersanna]

I meant to say an HSBC visa card. Which we got.
sorry im new to this.

[iaink]

No problem.

Most banks can be talked into giving account holders a Visa or MasterCard, especially if you are prepared to put a few thousand into a GIC to guarantee payment.

HSBC are OK as long as there is a branch near where you are locating too, and dont have a problem paying the fees. Personally I couldnt wait to ditch paying fees for Canadian banking or having to keep thousands tied up in low interest accounts to have the fees waived...but it seems that presidents choice wont open an account until you are a PR with a local address, so you are likely stuck with paying fees to someone at least at first (unless things have changes since my temporary resident days)

[JonboyE]

Originally Posted by sparkyphil Hi we are going over to vancouver for a recce trip in Jan and was wondering if it was at all possible to open an account to deposit spare money before we land so we have some extra cash for when we get there.

When I was on my recce trip I walked into a branch of HSBC. I told them I was a customer of Midland/HSBC in the UK (though they didn't check this), showed them my passport, gave them $100 in travelers checks and walked out 30 minutes later with a bank account and debit card. I used this account while I was still in the UK (and they mailed my statements to the UK) to receive transfers from the UK and to pay the deposit for my house purchase.

The ONLY problem I had was that they had real trouble getting their computer to accept the UK post code format!

[sparkyphil]

thanks to you all.
I will try some banks locally for info as to if they have branches in vancouver and if not i will just walk into a couple over there and ask.