7 weeks till we fly - eeeek - so many questions
#16
Re: 7 weeks till we fly - eeeek - so many questions
Wow, interesting! Just goes to show how different it is!
I asked my Mom about this after I saw your post, but she said she basically uses cheques the same way I do - just uses them when various places ask for them as more of a verification of account details, etc, or when giving gifts. She'll also occasionally use cheques if she owes someone a lot of money. She knows she has the email money transfer option but sometimes the recipient prefers a cheque instead of this electronic-fangled stuff. :P
It also occurs to me that my rent while in university was paid with post-dated cheques.
I asked my Mom about this after I saw your post, but she said she basically uses cheques the same way I do - just uses them when various places ask for them as more of a verification of account details, etc, or when giving gifts. She'll also occasionally use cheques if she owes someone a lot of money. She knows she has the email money transfer option but sometimes the recipient prefers a cheque instead of this electronic-fangled stuff. :P
It also occurs to me that my rent while in university was paid with post-dated cheques.
#17
Re: 7 weeks till we fly - eeeek - so many questions
Ah that make sense - I suppose once you have kids a lot of their activities are funded by cheque!
#19
Re: 7 weeks till we fly - eeeek - so many questions
You're telling me (Post #3159 in 3 years and 1 month... ............. .................................... )
#20
Forum Regular
Joined: Feb 2013
Location: Arrived in the Okanagan - June 2013
Posts: 245
Re: 7 weeks till we fly - eeeek - so many questions
You've had some great advice already.
Our experience with moving money over from our house sale just over a year ago was that the foreign currency exchanges were best. We used Halo and had good experiences with them but it's quite a competitive Market so I am sure there are others that are just as good.
We brought a credit report with us which helped with getting a higher credit limit with RBC for our credit card but it wasn't required for the standard bank account. We didn't use them but I've heard on here that you can set up a Canadian account with HSBC from the UK before you leave.
Good luck
Our experience with moving money over from our house sale just over a year ago was that the foreign currency exchanges were best. We used Halo and had good experiences with them but it's quite a competitive Market so I am sure there are others that are just as good.
We brought a credit report with us which helped with getting a higher credit limit with RBC for our credit card but it wasn't required for the standard bank account. We didn't use them but I've heard on here that you can set up a Canadian account with HSBC from the UK before you leave.
Good luck
#21
Just Joined
Joined: Jan 2014
Posts: 24
Re: 7 weeks till we fly - eeeek - so many questions
We arrived from the UK 3 weeks ago and had a hell of a time getting set up with HSBC before we left trying to get an account set up. WE can do it, we can't, back and forth etc.
However, when we got here we went to HSBC after final bit of advice within the UK from a member of staff in one of the branches and got set up for an account within 1.5 hours. We were given a temporary card and a pin in the branch also.
The guy we dealt with was excellent and also got us a credit card to start building our credit history. Take a passport, Work Permit, Passport and offer of employment.
I would recommend HSBC on the experience in Canada not the UK.
However, when we got here we went to HSBC after final bit of advice within the UK from a member of staff in one of the branches and got set up for an account within 1.5 hours. We were given a temporary card and a pin in the branch also.
The guy we dealt with was excellent and also got us a credit card to start building our credit history. Take a passport, Work Permit, Passport and offer of employment.
I would recommend HSBC on the experience in Canada not the UK.
#22
Forum Regular
Thread Starter
Joined: Mar 2013
Location: Toronto
Posts: 46
Re: 7 weeks till we fly - eeeek - so many questions
Hey Green Toadster,
Yeh, we were the same re HSBC. Wanted to set up an Expat or International Account before we left the UK (which is 6 weeks today, YIKES!) - but wouldnt have 3 months wages going in before we left (or something along those lines?!?!).
We've got a few banks that we want to check out when we get there, HSBC is defo on the list.
How's things going? Did everything go to plan/smoothly? Any hints & tips for us?
G
Yeh, we were the same re HSBC. Wanted to set up an Expat or International Account before we left the UK (which is 6 weeks today, YIKES!) - but wouldnt have 3 months wages going in before we left (or something along those lines?!?!).
We've got a few banks that we want to check out when we get there, HSBC is defo on the list.
How's things going? Did everything go to plan/smoothly? Any hints & tips for us?
G
#23
Just Joined
Joined: Jul 2014
Location: Wasaga Beach, Ontario
Posts: 20
Re: 7 weeks till we fly - eeeek - so many questions
Scotiabank have a welcome to Canada package for new immigrants, i hope its still the same as we've been here 4 years now. hope i'm not giving you wrong info
We popped into service Canada when we first arrived and got our SIN numbers and then went to Scotia and opened up our bank accounts and we were able to get a visa card with a $1000 limit as well.
Good luck and hope the move goes well
We popped into service Canada when we first arrived and got our SIN numbers and then went to Scotia and opened up our bank accounts and we were able to get a visa card with a $1000 limit as well.
Good luck and hope the move goes well
#24
Re: 7 weeks till we fly - eeeek - so many questions
Bank at your local credit union, comrades, the big banks are class criminals. Also my credit union gives me a far better deal than Scotiabank ever did. For things like rrsp and tfsa accts Canadian Western has very good interest rates.
#25
Just Joined
Joined: Jun 2014
Location: Edmonton, Alberta
Posts: 21
Re: 7 weeks till we fly - eeeek - so many questions
Sorry to butt in on your thread but i am in a similar situation.
Specificaly i am scratching my head about the money transfer. I was going to use somebody like UKforex to transfer instead of the bank for better rates but i am still a bit lost as to declaring this transfere as it will be over 10000CAD.
Does this need to be declared when landing on goods to follow, do i declare it with a reciept or statement from the broker i use?
thanks
Specificaly i am scratching my head about the money transfer. I was going to use somebody like UKforex to transfer instead of the bank for better rates but i am still a bit lost as to declaring this transfere as it will be over 10000CAD.
Does this need to be declared when landing on goods to follow, do i declare it with a reciept or statement from the broker i use?
thanks
#26
Lost in BE Cyberspace
Joined: Nov 2011
Location: Somewhere between Vancouver & St Johns
Posts: 19,851
Re: 7 weeks till we fly - eeeek - so many questions
Sorry to butt in on your thread but i am in a similar situation.
Specificaly i am scratching my head about the money transfer. I was going to use somebody like UKforex to transfer instead of the bank for better rates but i am still a bit lost as to declaring this transfere as it will be over 10000CAD.
Does this need to be declared when landing on goods to follow, do i declare it with a reciept or statement from the broker i use?
thanks
Specificaly i am scratching my head about the money transfer. I was going to use somebody like UKforex to transfer instead of the bank for better rates but i am still a bit lost as to declaring this transfere as it will be over 10000CAD.
Does this need to be declared when landing on goods to follow, do i declare it with a reciept or statement from the broker i use?
thanks
If you are entering or leaving Canada and are carrying $10,000 or more including any combination of coins, domestic or foreign bank notes, and securities, such as travellers cheques, stocks and bonds, you have to complete Form E677, Cross-Border Currency or Monetary Instruments Report - Individual.
The clue is carrying not being wired
#27
Just Joined
Joined: Jun 2014
Location: Edmonton, Alberta
Posts: 21
Re: 7 weeks till we fly - eeeek - so many questions
thanks for clearing that up!
#28
Fancy a Cuppa?
Joined: Nov 2007
Location: Vancouver
Posts: 438
Re: 7 weeks till we fly - eeeek - so many questions
TorFX is great for transferring money. Getting a Credit card is difficult, we had to go for a $1000 secured card, and cheques, yes we use loads of them. I agree though it's mostly for kids trips fees, fundraising etc etc.
#29
Forum Regular
Joined: Aug 2010
Posts: 113
Re: 7 weeks till we fly - eeeek - so many questions
We gave up on getting an HSBC in Canada, even with UK accounts with them it was a hassle trying to getting it set up. Ended up walking into a TD and getting set up on the spot.
A good bit of advice I read here was to just go to whatever bank is convenient for you wherever your staying. You'll probably be seeing them a lot to begin with and you don't want seeing them to be a trek.
I'd recommend getting some Canadian cash before you fly over, have it with you when you land and you can use it to open an account here (also to spend on stuff).
As for cheques, we just moved into a condo and had to give 12 to our landlord, 12 for our parking spot and 12 for our locker (all rented of different people). So yeah, they are still used quite alot (direct debits don't seem to be a thing here).
Good luck and remember to bring lots of tea-bags.
A good bit of advice I read here was to just go to whatever bank is convenient for you wherever your staying. You'll probably be seeing them a lot to begin with and you don't want seeing them to be a trek.
I'd recommend getting some Canadian cash before you fly over, have it with you when you land and you can use it to open an account here (also to spend on stuff).
As for cheques, we just moved into a condo and had to give 12 to our landlord, 12 for our parking spot and 12 for our locker (all rented of different people). So yeah, they are still used quite alot (direct debits don't seem to be a thing here).
Good luck and remember to bring lots of tea-bags.
#30
Just Joined
Joined: Jul 2014
Location: London
Posts: 3
Re: 7 weeks till we fly - eeeek - so many questions
Hi!
My husband and I are moving over to Canada in 6 weeks so we're in a very similar boat! Eeek!
Hadn't even thought about getting our medical records before we go... oops!
We were so confused/worried about the banking situation and transferring the large amount of money that selling our house created-we looked into using our bank (Barclays) but in the end we used a London based fx company and they've looked after everything for us and seemed a lot more reasonable than the bank! Let me know if you would like their details
Good luck with your move!
My husband and I are moving over to Canada in 6 weeks so we're in a very similar boat! Eeek!
Hadn't even thought about getting our medical records before we go... oops!
We were so confused/worried about the banking situation and transferring the large amount of money that selling our house created-we looked into using our bank (Barclays) but in the end we used a London based fx company and they've looked after everything for us and seemed a lot more reasonable than the bank! Let me know if you would like their details
Good luck with your move!