Building credit rating before immigrating?
Sep 13th 2011 | 12:08 am
#31
Magnificently Withering
Joined: Jan 2007
Posts: 6,908
From: Oakville, ON
Re: Building credit rating before immigrating?
Hong Kong Shanghai Banking Corporation - makes sense 
:sigh: I just keep repeating myself!
When you talk about a bank's presence you talk about it's presence by country (or market)
Now I stated that HSBC's presence is Canada is weak which is accurate. However if someone wanted to know about it's presence in different provinces or areas of provinces or areas of cities, then that would be a different question.
I gave a generalized (and factually accurate) depiction of HSBC's presence in Canada as a whole. If However someone asked, I am moving to the Markham area in Toronto, what is HSBC's exposure like there? Then the correct answer would be to state that they have a good presence there but they have a fairly weak presence in Canada as a whole. You would have to mention this or you would be misleading people into thinking HSBC have a good presence in Canada when in fact they have a generally weak presence but a strong presence in certain ethnic areas of Canada.
I didn't realise Europe was a country?? Lol! Your point is invalid. As I mentioned, a bank's presence is expressed by country in general terms and can be broken into specific areas if asked. So for example that Spanish bank you mention would have excellent presence in Spain but a very weak presence in Russia.
I am not saying that Canada is homogeneous, that is not at question. A bank that has low numbers of banks in a country, concentrated in certain specific areas is not considered to have a strong presence. As I stated before, what if someone moves from an area of strong HSBC presence to an area of weak presence? Answer is they would be screwed. 'But you said they have a strong presence in Vancouver? Now I'm in rural Ontario and I don't have a branch near me!!' 'Oh yeah sorry, did I forget to mention they only have a strong presence in very specific ethnic areas? My bad!'
:sigh: I just keep repeating myself!
When you talk about a bank's presence you talk about it's presence by country (or market)
Now I stated that HSBC's presence is Canada is weak which is accurate. However if someone wanted to know about it's presence in different provinces or areas of provinces or areas of cities, then that would be a different question.
I gave a generalized (and factually accurate) depiction of HSBC's presence in Canada as a whole. If However someone asked, I am moving to the Markham area in Toronto, what is HSBC's exposure like there? Then the correct answer would be to state that they have a good presence there but they have a fairly weak presence in Canada as a whole. You would have to mention this or you would be misleading people into thinking HSBC have a good presence in Canada when in fact they have a generally weak presence but a strong presence in certain ethnic areas of Canada.
I didn't realise Europe was a country?? Lol! Your point is invalid. As I mentioned, a bank's presence is expressed by country in general terms and can be broken into specific areas if asked. So for example that Spanish bank you mention would have excellent presence in Spain but a very weak presence in Russia.
I am not saying that Canada is homogeneous, that is not at question. A bank that has low numbers of banks in a country, concentrated in certain specific areas is not considered to have a strong presence. As I stated before, what if someone moves from an area of strong HSBC presence to an area of weak presence? Answer is they would be screwed. 'But you said they have a strong presence in Vancouver? Now I'm in rural Ontario and I don't have a branch near me!!' 'Oh yeah sorry, did I forget to mention they only have a strong presence in very specific ethnic areas? My bad!'
It appears that opinions on HSBC are sharply divided. I was a customer in the UK but chose not to become one here as there isn't a convenient branch locally, so I have no axe to grind. But from the many previous threads on the subject there seem to be about as many people who have had excellent service as there are those who scream "never again."
Sep 13th 2011 | 4:11 am
#32
Beep
Joined: Jan 2009
Posts: 8,311
From: Here
Re: Building credit rating before immigrating?
Basing your banking choice on country-wide presence will severely limit your options and completely rule out Credit Unions.
Select the most suitable for you where you live at that time and then change if needed should you move.
One thing i would advise the OP is to limit answers to, and qualify them as, provincial or even local area and not generalise.
To add to the thread, i was given an immediate AMEX account in Canada through them without question (after providing proof of address of course). They matched my UK limit and converted to CAD.
Select the most suitable for you where you live at that time and then change if needed should you move.
One thing i would advise the OP is to limit answers to, and qualify them as, provincial or even local area and not generalise.
To add to the thread, i was given an immediate AMEX account in Canada through them without question (after providing proof of address of course). They matched my UK limit and converted to CAD.
Sep 13th 2011 | 5:42 am
#33
Dive Bar Drunk
Joined: Nov 2006
Posts: 8,671
From: Toronto
Re: Building credit rating before immigrating?
Rogers take anybody on board and every car dealer in Toronto was able to give me finance, many of them at their publicised low rate.
Having a credit history has helped with cash flow down the line but other than that in the first 9 months I did not feel particularly disadvantaged at all.
Sep 13th 2011 | 11:05 am
#34
Forum Regular
Joined: Aug 2010
Posts: 134
From: North Vancouver, BC
Re: Building credit rating before immigrating?
Really? we had a nightmare getting car finance as our SIN numbers started with a '9' which is for termorary residents so an automatic decline. Credit history wasn't the issue at all, they eventually managed to get it thought without entering the SIN#. Recently my OH went for laser eye surgery and wanted to put half on their finace option but this was declined due to the bloody SIN even though we have the car finance! Bring on PR I tell ya!
Sep 13th 2011 | 11:08 am
#35
Joined: Jul 2005
Posts: 15,883
Re: Building credit rating before immigrating?
Really? we had a nightmare getting car finance as our SIN numbers started with a '9' which is for termorary residents so an automatic decline. Credit history wasn't the issue at all, they eventually managed to get it thought without entering the SIN#. Recently my OH went for laser eye surgery and wanted to put half on their finace option but this was declined due to the bloody SIN even though we have the car finance! Bring on PR I tell ya!
Please read. http://www.servicecanada.gc.ca/eng/s.../provide.shtml
and http://www.servicecanada.gc.ca/eng/s...nization.shtml
Sep 13th 2011 | 11:22 am
#36
Forum Regular
Joined: Aug 2010
Posts: 134
From: North Vancouver, BC
Re: Building credit rating before immigrating?
Don't give people your SIN.
Please read. http://www.servicecanada.gc.ca/eng/s.../provide.shtml
and http://www.servicecanada.gc.ca/eng/s...nization.shtml
Please read. http://www.servicecanada.gc.ca/eng/s.../provide.shtml
and http://www.servicecanada.gc.ca/eng/s...nization.shtml
Sep 13th 2011 | 11:59 am
#37
BE Forum Addict
Joined: May 2004
Posts: 2,935
From: Amherst Nova Scotia
Re: Building credit rating before immigrating?
Really? we had a nightmare getting car finance as our SIN numbers started with a '9' which is for termorary residents so an automatic decline. Credit history wasn't the issue at all, they eventually managed to get it thought without entering the SIN#. Recently my OH went for laser eye surgery and wanted to put half on their finace option but this was declined due to the bloody SIN even though we have the car finance! Bring on PR I tell ya!
Sep 13th 2011 | 12:33 pm
#38
Forum Regular
Joined: Jul 2011
Posts: 65
From: Montreal, well, Blainville and CYMX
Re: Building credit rating before immigrating?
Soon to be,
I empathise and I'm not quite sure why a number of posters have started arguing semantics. Life's rich tapestry.
For the record, I would agree that HSBC is poorly represented across Canada. I, for one, have to drive past 3 branches of RBC to get to my HSBC branch in Montreal. I did use the Premier service to get me $5000 limit cards and an account here and it has worked OK.
I also transferred my Amex Platinum from the UK to Canada and it worked out fine. The only issue was they asked for a $1 cheque and for permission to write to my bank to confirm my Canadian address. In total it took about 3 weeks to get the card in my hands, despite chasing them up everyday.
WRT cell phone, Rogered may let you sign up without deposit but for my needs were rather expensive. Virgin Mobile requested a $400 deposit after I arrived fresh off the plane with no history.
Car loans - yet to discover this area of pain as I'm waiting for mortgage pre approval first.
Good luck with your endeavours, from reading your posts you've done the research so I'm sure it will all go well.
Alex
I empathise and I'm not quite sure why a number of posters have started arguing semantics. Life's rich tapestry.
For the record, I would agree that HSBC is poorly represented across Canada. I, for one, have to drive past 3 branches of RBC to get to my HSBC branch in Montreal. I did use the Premier service to get me $5000 limit cards and an account here and it has worked OK.
I also transferred my Amex Platinum from the UK to Canada and it worked out fine. The only issue was they asked for a $1 cheque and for permission to write to my bank to confirm my Canadian address. In total it took about 3 weeks to get the card in my hands, despite chasing them up everyday.
WRT cell phone, Rogered may let you sign up without deposit but for my needs were rather expensive. Virgin Mobile requested a $400 deposit after I arrived fresh off the plane with no history.
Car loans - yet to discover this area of pain as I'm waiting for mortgage pre approval first.
Good luck with your endeavours, from reading your posts you've done the research so I'm sure it will all go well.
Alex
Sep 13th 2011 | 5:23 pm
#40
half a century
Joined: Mar 2008
Posts: 10,222
From: Sarf Lundun to East Van :)
Re: Building credit rating before immigrating?
well i am merely a woman !
Basing your banking choice on country-wide presence will severely limit your options and completely rule out Credit Unions.
Select the most suitable for you where you live at that time and then change if needed should you move.
One thing i would advise the OP is to limit answers to, and qualify them as, provincial or even local area and not generalise.
To add to the thread, i was given an immediate AMEX account in Canada through them without question (after providing proof of address of course). They matched my UK limit and converted to CAD.
Select the most suitable for you where you live at that time and then change if needed should you move.
One thing i would advise the OP is to limit answers to, and qualify them as, provincial or even local area and not generalise.
To add to the thread, i was given an immediate AMEX account in Canada through them without question (after providing proof of address of course). They matched my UK limit and converted to CAD.
Yup Vancity is big in VAN - but doubt they have many branches elsewhere!
Sep 13th 2011 | 9:41 pm
#41
Forum Regular
Joined: Jul 2011
Posts: 65
From: Montreal, well, Blainville and CYMX
Sep 14th 2011 | 3:01 am
#42
Joined: Sep 2008
Posts: 12,830
Re: Building credit rating before immigrating?
Van City is a credit union, any credit union member can use another credit union at no charge. So if you are a member of Vancity, you can go into any credit union in BC and use their services the same as if it was your home credit union.
The BC credit union system is the largest network of financial institutions in BC with:
45 credit unions
370 branches
530 ATMs in 140 communities
Sep 14th 2011 | 3:30 am
#43
Beep
Joined: Jan 2009
Posts: 8,311
From: Here
Re: Building credit rating before immigrating?
The name gave it away didn't it?
Van City is a credit union, any credit union member can use another credit union at no charge. So if you are a member of Vancity, you can go into any credit union in BC and use their services the same as if it was your home credit union.
The BC credit union system is the largest network of financial institutions in BC with:
45 credit unions
370 branches
530 ATMs in 140 communities
Van City is a credit union, any credit union member can use another credit union at no charge. So if you are a member of Vancity, you can go into any credit union in BC and use their services the same as if it was your home credit union.
The BC credit union system is the largest network of financial institutions in BC with:
45 credit unions
370 branches
530 ATMs in 140 communities
Their reason - because you might move to another part of the country that doesn't have access to that bank.
I think the OP needs to limit their answers to, and qualify them as, provincial or even local area and not generalise.
Sep 14th 2011 | 4:06 am
#44
Binned by Muderators
Joined: Jul 2007
Posts: 11,708
From: White Rock BC
Re: Building credit rating before immigrating?
1) Because some people read these posts to find useful information.
2) Because it is a bloody big country.
Consider these statements:
a) winters in Canada are mild, quite rainy, and the temperature rarely falls below zero for long. Snow is a novelty except in the mountains.
b) winters in Canada are extremely cold with temperatures rarely getting above zero and snow is on the ground from November to April.
Whilst both are true to some extent they only provide useful information if there is some sort of geographical qualifier. Shorts and open toed sandals might be fine for Vancouver in mid February but they are not really appropriate attire for Winnipeg.
I was exasperated with soontobecanadianresident because he was extrapolating his knowledge of one part of Canada to the whole country. If he had put some sort of qualifier like in my experience, around here, or whatever then it would hardly have been an issue. Someone would point out that in the Lower Mainland there are more branches of HSBC than you can shake a stick of firecrackers at. Then we would have all moved on.
The reader would be left with with a reasonable understanding: in many parts of Canada HSBC does not have a significant retail branch presence. In others it does.
Anyway, we had got to that point and you come along and make a statement that: HSBC is poorly represented across Canada. I, for one, have to drive past 3 branches of RBC to get to my HSBC branch in Montreal. Can't you see the non sequiter, that your experience in Montreal speaks of Montreal (and is useful information for anyone thinking of Montreal) but it does not speak for the whole of Canada? You might equally well say that most people in Montreal speak French as their first language therefore most people in the rest of Canada speak French as their first language.
2) Because it is a bloody big country.
Consider these statements:
a) winters in Canada are mild, quite rainy, and the temperature rarely falls below zero for long. Snow is a novelty except in the mountains.
b) winters in Canada are extremely cold with temperatures rarely getting above zero and snow is on the ground from November to April.
Whilst both are true to some extent they only provide useful information if there is some sort of geographical qualifier. Shorts and open toed sandals might be fine for Vancouver in mid February but they are not really appropriate attire for Winnipeg.
I was exasperated with soontobecanadianresident because he was extrapolating his knowledge of one part of Canada to the whole country. If he had put some sort of qualifier like in my experience, around here, or whatever then it would hardly have been an issue. Someone would point out that in the Lower Mainland there are more branches of HSBC than you can shake a stick of firecrackers at. Then we would have all moved on.
The reader would be left with with a reasonable understanding: in many parts of Canada HSBC does not have a significant retail branch presence. In others it does.
Anyway, we had got to that point and you come along and make a statement that: HSBC is poorly represented across Canada. I, for one, have to drive past 3 branches of RBC to get to my HSBC branch in Montreal. Can't you see the non sequiter, that your experience in Montreal speaks of Montreal (and is useful information for anyone thinking of Montreal) but it does not speak for the whole of Canada? You might equally well say that most people in Montreal speak French as their first language therefore most people in the rest of Canada speak French as their first language.
Last edited by JonboyE; Sep 14th 2011 at 5:19 am.
Sep 14th 2011 | 11:07 am
#45
BE Enthusiast
Joined: Apr 2008
Posts: 389
From: On
Re: Building credit rating before immigrating?
1) Because some people read these posts to find useful information.
2) Because it is a bloody big country.
Consider these statements:
a) winters in Canada are mild, quite rainy, and the temperature rarely falls below zero for long. Snow is a novelty except in the mountains.
b) winters in Canada are extremely cold with temperatures rarely getting above zero and snow is on the ground from November to April.
Whilst both are true to some extent they only provide useful information if there is some sort of geographical qualifier. Shorts and open toed sandals might be fine for Vancouver in mid February but they are not really appropriate attire for Winnipeg.
I was exasperated with soontobecanadianresident because he was extrapolating his knowledge of one part of Canada to the whole country. If he had put some sort of qualifier like in my experience, around here, or whatever then it would hardly have been an issue. Someone would point out that in the Lower Mainland there are more branches of HSBC than you can shake a stick of firecrackers at. Then we would have all moved on.
The reader would be left with with a reasonable understanding: in many parts of Canada HSBC does not have a significant retail branch presence. In others it does.
Anyway, we had got to that point and you come along and make a statement that: HSBC is poorly represented across Canada. I, for one, have to drive past 3 branches of RBC to get to my HSBC branch in Montreal. Can't you see the non sequiter, that your experience in Montreal speaks of Montreal (and is useful information for anyone thinking of Montreal) but it does not speak for the whole of Canada? You might equally well say that most people in Montreal speak French as their first language therefore most people in the rest of Canada speak French as their first language.
2) Because it is a bloody big country.
Consider these statements:
a) winters in Canada are mild, quite rainy, and the temperature rarely falls below zero for long. Snow is a novelty except in the mountains.
b) winters in Canada are extremely cold with temperatures rarely getting above zero and snow is on the ground from November to April.
Whilst both are true to some extent they only provide useful information if there is some sort of geographical qualifier. Shorts and open toed sandals might be fine for Vancouver in mid February but they are not really appropriate attire for Winnipeg.
I was exasperated with soontobecanadianresident because he was extrapolating his knowledge of one part of Canada to the whole country. If he had put some sort of qualifier like in my experience, around here, or whatever then it would hardly have been an issue. Someone would point out that in the Lower Mainland there are more branches of HSBC than you can shake a stick of firecrackers at. Then we would have all moved on.
The reader would be left with with a reasonable understanding: in many parts of Canada HSBC does not have a significant retail branch presence. In others it does.
Anyway, we had got to that point and you come along and make a statement that: HSBC is poorly represented across Canada. I, for one, have to drive past 3 branches of RBC to get to my HSBC branch in Montreal. Can't you see the non sequiter, that your experience in Montreal speaks of Montreal (and is useful information for anyone thinking of Montreal) but it does not speak for the whole of Canada? You might equally well say that most people in Montreal speak French as their first language therefore most people in the rest of Canada speak French as their first language.
Heidi.
(And FWIW - I am a loyal HSBC banker in the UK - wouldn't touch them here - 1 branch with no parking! I LOVE TD and wouldn't go anywhere else)
