Help with banking in Canada
Jan 2nd 2020, 6:02 pm
#31
BE Enthusiast
Joined: Dec 2016
Location: St Catharines, Ontario From Bournemouth UK
Posts: 417
Re: Help with banking in Canada
Banking is moving on and I would suggest looking at Credit Unions (DUCA, Meridian) or online Banks ( EQ Bank, Tangerine). There are no checking account fees and you can transfer money easy using Interac https://www.interac.ca/en/ or setting up micro deposits between financial institutions. Further info can be found here...https://www.highinterestsavings.ca/f...-does-it-take/
Jan 2nd 2020, 6:38 pm
#32
Account Closed
Joined: Jan 2006
Posts: 0
Re: Help with banking in Canada
Method of payment and whether a landlord could refuse a particular method might be one of those things that varies across the provinces.
I don't recall anything specific about it in the NB acts but then a tenancy can be ended by either party - subject to notice - with no reason given, unless there is tenure, which happens after 5 years. So even if one could argue that a landlord can't refuse payment and can't evict if payment has been proffered, that's not much good if the landlord then gives notice. Not that they necessarily would, of course, but if the landlord was having other issues from that tenant, it could be a deciding factor in the tenancy ending.
There used to be a fee charged by my bank for e-payments but it's free now.
I don't recall anything specific about it in the NB acts but then a tenancy can be ended by either party - subject to notice - with no reason given, unless there is tenure, which happens after 5 years. So even if one could argue that a landlord can't refuse payment and can't evict if payment has been proffered, that's not much good if the landlord then gives notice. Not that they necessarily would, of course, but if the landlord was having other issues from that tenant, it could be a deciding factor in the tenancy ending.
There used to be a fee charged by my bank for e-payments but it's free now.
It went down in price for us from $1.00 to 90 cents recently. But our rent exceeds what the bank will even let us transfer in a day so having to do multiple transactions to pay rent is more work, easier to just send in 12 cheques once a year.
I do wonder if the tenancy agreement specifies payment will be made by cheque and then the tenant refuses to pay by cheque, if that would be terms for landlord to give one month notice. Landlords are permitted to specify method of payment in the tenancy agreement, and the tenant breaking a term of the tenancy agreement is grounds to end tenancy if the tenant refuses to comply when given notice they are in breach, so seems to me if the tenancy agreement says payment by cheque, and then the tenant refuses to pay by cheque, that it would be ground for landlord to evict for the tenants failure to comply with the tenancy agreement.
But who knows how an arbitrator would rule.
Jan 5th 2020, 10:37 pm
#33
Just Joined
Joined: Jan 2020
Posts: 7
Re: Help with banking in Canada
Not sure which bank is best but two practical tips:
1. keep your U.K. account open with a small balance.
2. When your new Canadian bank asks if you want a chequebook, say yes. Cheques are still used in Canada. To set up a direct debit, the usual procedure is to provide a void cheque.
1. keep your U.K. account open with a small balance.
2. When your new Canadian bank asks if you want a chequebook, say yes. Cheques are still used in Canada. To set up a direct debit, the usual procedure is to provide a void cheque.
Jan 13th 2020, 6:52 pm
#34
Forum Regular
Joined: Oct 2005
Location: CANADA - land of my dreams!
Posts: 299
Re: Help with banking in Canada
I agree with keeping an account open with a small balance. Once closed as a non-resident of the UK (once you move) you cannot open an account there should you need to. I tried to leave my inheritance in the UK last year but was unable as a resident of Canada to open an account with any bank or building society.
For Canadian banks, I recommend Tangerine. You can withdraw cash without charges in the USA at Bank of America ATMs, which is another handy feature.
