For those of us who are HOPING to make the big move, my question is, which in peoples opinions, are or is the best UK Banks or is the best UK Bank to be with in the Transitional periods, as we are planning on selling the property we have, PLEASE dont advise us to keep what we have in the UK, we have a vested interest in an other property. Is there a Bank that operates without lots of time delays between UK and Canada. Cash transfers, cheque clearance ect:-
All info will be noted , thanx
George and Ang.

On this note I went to HSBC the other day and got an application form to open up a foreign currency account. When I got it home it seemed to be for businesses which has totally confused me. HSBC are constantly advertising on the telly that they are 'The World's favorite bank'. There is no point in phoning them as when I tried that before the call centre told me I had to go in. The trouble with banks in this country is you have to make a special effort to go there, hope you can find a parking space and then anticipate how long you are going to be in order to buy the right parking ticket!

That's a shame CDNreturner, we found HSBC to be EXTREMELY helpful setting up a Canadian Account. Not only did the branch do practically all the paperwork for us, but the internations division who actually process it through were one phonecall away (direct, not through a call centre) and had our account opened at the specific branch in Vancouver we asked for within two weeks.

When I went over last month, just went in, picked up my card, set up internet banking. Easy as pie. And they were very helpful at the Canadian end.

Re: transferring money, it's VERY easy between international HSBC accounts. There's a nominal charge (about £10) but the rate is good. However, as I now have a HIFX currency account and their transfer facility is free (and their rates better) I'll probably still use them for large volume transfers (property sale, etc.).

Cheers, Iain

Hi
just to note that if you sign on as a 'Premier customer' with HSBC all currency transaction fees are waived.

Thanks Iain,

I'll try HSBC again. But what is HIFX?

HSBC has got a lot of plug on this forum of late, how about I even plug them more, even though am mad they don't have branches everywhere like they do in the UK.

Its like 2 branches for every city here in Ontario, some towns are even lucky to have one in the next town, and not in theirs. Anyway here is a pic from the grandprix last year in Montreal, where we had a blast, as you can see, they ( HSBC ) just happen to be in the shot.

[just a note to say i am a HSBC customer, and they told me 4 weeks to set up..
I have just returned form Vancouver Island where I have just bought a house. There nearest branch was 30 minutes in each direction, and I felt that not enough prople use this bank compared to Canadian banks, and when I live there permanenty I want to be able to move money easily. Also HSBC in Uk have never been that great to me.
Anyway we walked into the Royal bank of Canada and was welcomed with a cup of coffee or juice. They could not have been nicer. We opened an account in an hour, were given temporary cards to use straigth away. We were given 6 cheques to use until our book arrives, and I opened an internet account in the office Within 7 days we returned to find our new cards, and internet banking information ont he doorstep. This was incredible service.
I have never been treated by bank staff in the UK like this and I have 4 banks!! The whole 12 days I was there just confirmed what wonderful people the Canadians are, were have never met any bad. maybe we will when we settle next year.
We also bought an acre of land and are having a house built. Our agent took us to meet the builder at his home, spent 6 days running around for us. between him and the solicitor they drew up the contracts ready for us to sign before leaving, made alterations to house plans for us, and helped us pick out all the inside finishings we wanted. About 4 weeks work rolled into 6 days and believe me no corners were left unturned. The contract is far more intricate than any here int he UK and I have no reservationsof leavin the whole process to get started until i get back.

I use a Uk Foreign exchange company to get the best rates when sending money to my accounts do not pay for wire transfers limke the bank, or there rubbish exchange rates. Money goes into my account and i can pay any body in Canada direct form my account there when i chose....

To open the account you need to be in Canada have two forms of ID passpot and driving licence and bingo all done......

maybe in the big cities things are not so easy but on Vnacouevr Island where we were they had time for us.
Linda




QUOTE]Originally posted by George-Ang
For those of us who are HOPING to make the big move, my question is, which in peoples opinions, are or is the best UK Banks or is the best UK Bank to be with in the Transitional periods, as we are planning on selling the property we have, PLEASE dont advise us to keep what we have in the UK, we have a vested interest in an other property. Is there a Bank that operates without lots of time delays between UK and Canada. Cash transfers, cheque clearance ect:-
All info will be noted , thanx
George and Ang. [/QUOTE]

I couldn't agree with you more about you, Royal Bank for me has been the best so far, in a way i can compare them to barclays, but not on the hospitality side of things. CIBC is another bank that is good, and they have branches everywhere.

Sounds like you got a lot done on your trip, good on ya !

Although this doesnt really relate to the OP, once settled here I would ditch any of the major canadian banks for the fees they charge alone.

After having free accounts all my life in the UK it was a real shock to have to pay anything up to $12 a month for the pleasure of a chequing account over here, and try and keep track of how many transactions I had used up. As soon as I found out about the free banking available through presidents choice financial I signed up, and I have no complaints. I never liked the teller service much anyway...much rather not have to queue at the bank, I'd rather do it myself from home and know it was done properly. I really dont have anything good to say about the big banks I dealt with. PC financial is actually a subsidiary of CIBC anyway, so if they can provide free services for PC, why cant they provide them for mainstream customers?

Does anyone know any other fee free banks...I believe that Citizens bank out in BC has some fee free acounts. Deals where you have to maintain a certain balance to have fees waved dont count! Thats another form of bank robbery as you lose the interest on the balance as its not in savings!

My 2c (plus interest!)

Iain

I found Scotia bank to have the cheapest fees over all.

Still paying fees though! It really ticks me off that people think this is normal over here. Banks make more than enough by lending your money to others to not have to charge you for the privilege too. Uk banks have been fee free for daily banking for donkeys years, and they still turn an unhealthy profit.

Iain

Yes but the cheapest fees we could get.

Out of curiosity why couldnt you get a PCfinancial account or something similar?

Iain

PS I figure it saves me about $150 per year, plus grocery savings too, probably another $2-300.

No, I don't work for them

We did look into PC financial since we have a credit card with them, but I like a bank that has tellers and people I can speak to face to face. For the amount of transations we use it costs us $66 a year in fees (thats for 50 transactions a month-non tellar). The good thing was that we have only just changed banks, so they gave us a years free banking (just like being back in the UK )

CDNReturner,

HIFX are currency traders, like MoneyCorp. If you're moving £10,000 or over it's worth talking to companies like that to secure you a better rate. They can also set up forward transactions and all that malarkey for you too.

I found them to be very efficient and it's a good service. No charges for a spot transaction.

Cheers, Iain