liquidsuite

Hi there, I will be getting my visa in a couple of weeks. I am planning to fly out in July. I really want to open a bank account in canada now if possible. How do I do that from UK. Also if you cant what process did you do to transfer money from uk bank to canada bank. Any help be great please

mkmurrays

Hi
There are a number of threads on this subject.
We've set up a Canadian HSBC account from the UK. We transferred our UK current account and some savings/equity from our house sale to HSBC in the UK. Then HSBC International set up our accounts - Current and Savings, plus a credit card in Canada for us. We can transfer £10k CAN online between accounts, or arrange for larger transfers via the international guys. There are other ways of moving money around to get better rates eg FOREX - again there are lots of threads on this - and I'm no expert.

Not everyone's a fan of HSBC - there isn't complete branch network in Canada from what I can gather. But there are two in the town we're moving to, and we were recommended to use them by someone else on the forum, and we've had a good experience so far.

Hope that helps a little.

Goragio

Royal Bank Canada (maybe a few others?) let you set up a non-resident account. This acts as a deposit only account until you arrive in Canada.

That's the theory anyway, I've done the paper work for this but haven't seen a reply.

liquidsuite

my uk bank is barclays. Wonder what they offer to help for international.
Will find out about royal canada.

britsnake

I bank with barclays as well and was able to withdraw money from my account without charge at scotia bank ATMs.

Opening an account once you get there is also a quick and hassle free process (I was able to use my newly opened account within an hour left the branch with my ATM card).

Doing it from the UK is a lot more hassle and will limit your choice of banks substantially.

claire bob and matt

RBC let us open a basic bank account before we had an address, just used the branch address. Our statements and stuff can be accessed online so no problem about not being able to get at our paper statements which are waiting for us at the branch.
C

steve666

I did the same as the Mkmurrays, HSBC no hassle but it has taken 5 weeks. While waiting I bought a large sum of dollars using HiFX who kept it for 3 weeks till ready to move into the account, which I did on Friday (20th). Seemlessly done, the only gripe being the time taken for HSBC setting up the account in Toronto. So maybe not for you.

liquidsuite

I have cousins out there who just emailed me to say there with Royal Bank....I prusume thats royal bank of canada unless there two of them. Please can anyone confirm that. In which case I am gonna choose same bank as them Royal Bank. If that the royal canada one then what do I do to set up a basic account now before heading out

moondevil

go to there website rbc dot com and find the local branch!!!

either ring them or email them and they will set an account up for you, there is forms to fill in etc, but they have emailed them through to us, very helpful..

If the account is to be opened and left for over a year, they ask that you leave $100 in so that it doesnt auto shut etc
once you arrive, you nip into branch with all your info and hey presto done....hope that helps


gill

The Broady's

We just waited until we got out there - it was so easy. Usual ID etc. We have even got credit cards (Hubby is Canadian so it was easier!) so have got the credit rating going whilst still in the UK
HTH

Zoe Bell

Royal Bank of Canada were very helpful for us. We Currently have a non residents account. We did most of the paperwork in the UK.and met up with the non resident account Manager on our recent recce trip. They are quite happy for the account to have a Zero balance at the Moment, so we can put money in at our convenience. Our manager took a good half hour to explain everything we needed to know and answer all our questions.

Despite him being so helpful I am still a bit intimidated by the whole financial stuff. In the Uk I would like to think that I am quiet financially Savvy and tell my bank manager what he needs to do for Me I found the Whole thing like listening to another language! !