Hsbc
Mar 27th 2007, 6:06 pm
#1
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Thread Starter
Joined: Aug 2004
Location: Chester Basin NS
Posts: 178
Hsbc
Hi,
As we have received our medical requests I thought it was time to open a bank account in Canada. I had already opened a HSBC account here as I had heard it was easy to transfer across. I called HSBC International and they have just sent through the paperwork. It is like a phone book. They want £100 fee for setting it up, an opening balance of 1500CAD (paid by bankers draft), proof of our reason for wanting to open the account and a list of how many deposits/withdrawals will be made every month.
This all seems a touch excessive to me. Can anyone recommend another bank to deal with that will make settling in NS easier. I really would like it set up now so I am organised.
Thanks
Angela
As we have received our medical requests I thought it was time to open a bank account in Canada. I had already opened a HSBC account here as I had heard it was easy to transfer across. I called HSBC International and they have just sent through the paperwork. It is like a phone book. They want £100 fee for setting it up, an opening balance of 1500CAD (paid by bankers draft), proof of our reason for wanting to open the account and a list of how many deposits/withdrawals will be made every month.
This all seems a touch excessive to me. Can anyone recommend another bank to deal with that will make settling in NS easier. I really would like it set up now so I am organised.
Thanks
Angela
Mar 27th 2007, 6:22 pm
#2
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Joined: Nov 2006
Location: Cole Harbour, Nova Scotia
Posts: 312
Re: Hsbc
Angela,
I have just done this a few months ago & was told the exact same info re £100 fee BUT then when I spoke to someone else they advised to contact
0207 9917278 International Banking Center - no charge
or just walk into the local branch in Canada
I am yet to open the Canadian Bank A/c as only just swapped stuff here to HSBC so not sure if correct,,, let me know how you get on as I cannot pursue anything until I have that shiny visa....
Michelle
I have just done this a few months ago & was told the exact same info re £100 fee BUT then when I spoke to someone else they advised to contact
0207 9917278 International Banking Center - no charge
or just walk into the local branch in Canada
I am yet to open the Canadian Bank A/c as only just swapped stuff here to HSBC so not sure if correct,,, let me know how you get on as I cannot pursue anything until I have that shiny visa....
Michelle
Mar 27th 2007, 6:31 pm
#3
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Joined: Jan 2007
Location: BC
Posts: 1,375
Re: Hsbc
Hi
We've transferred all of our stuff to HSBC, and they've set us up with bank accounts, credit cards - the lot. No fees!
I'd go back to them and ask them to rethink!
We've transferred all of our stuff to HSBC, and they've set us up with bank accounts, credit cards - the lot. No fees!
I'd go back to them and ask them to rethink!
Mar 27th 2007, 6:36 pm
#4
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Joined: Mar 2007
Location: Valemount, BC, Canada
Posts: 1,281
Re: Hsbc
Hi,
We'd banked with HSBC in the UK for about 15 years before we moved to Canada, but they were such a pain with regards to opening an account in Canada from the UK that we gave up and just opened a CIBC account on arrival instead. You can't do it from the UK, though.
Alex
We'd banked with HSBC in the UK for about 15 years before we moved to Canada, but they were such a pain with regards to opening an account in Canada from the UK that we gave up and just opened a CIBC account on arrival instead. You can't do it from the UK, though.
Alex
Mar 27th 2007, 6:38 pm
#5
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Joined: Nov 2006
Location: Edmonton, Alberta
Posts: 291
Re: Hsbc
I just closed everything in England and had all my money in travellers cheques... i walked into Royal Bank (RBC) and opened the account in Canada and had no issues at all.
Mar 27th 2007, 6:39 pm
#6
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Joined: Dec 2005
Location: Peterborough, Ontario
Posts: 62
Re: Hsbc
We considered them, but they wanted us to jump through hoops. In the end we went to our local RBC when we visited and set up an account. No problem getting a credit card with $2000 limit(what we asked for, might have given us more). Offered same choices as anyone else.
The manager and staff have been very helpful and we get offered increases in Credit limits similar to what we had in the UK, after only a year in Canada.
Not saying not to use HSBC, but there are lots of choices.
The manager and staff have been very helpful and we get offered increases in Credit limits similar to what we had in the UK, after only a year in Canada.
Not saying not to use HSBC, but there are lots of choices.
Mar 27th 2007, 6:43 pm
#7
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Joined: Aug 2004
Location: Chester Basin NS
Posts: 178
Mar 27th 2007, 6:57 pm
#8
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Joined: Jan 2007
Location: BC
Posts: 1,375
Re: Hsbc
Yep, we organised it via the Milton Keynes branch initially, then we spoke to International, and finally the Kelowna branch.
Mar 27th 2007, 8:22 pm
#10
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Joined: Sep 2003
Location: Upstate South Carolina
Posts: 30,768
Re: Hsbc
The problem with HSBC is that once you get to Canada, they are not exactly on every corner. Other banks are far more common.
Plus the fees seem steep, even by canadian standards.
What do people hope to achieve by opening accounts in advance anyway? It doesnt help credit rating at all.
Plus the fees seem steep, even by canadian standards.
What do people hope to achieve by opening accounts in advance anyway? It doesnt help credit rating at all.
Mar 27th 2007, 8:38 pm
#11
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Joined: Mar 2007
Location: Valemount, BC, Canada
Posts: 1,281
Re: Hsbc
The problem with HSBC is that once you get to Canada, they are not exactly on every corner. Other banks are far more common.
Plus the fees seem steep, even by canadian standards.
What do people hope to achieve by opening accounts in advance anyway? It doesnt help credit rating at all.
Plus the fees seem steep, even by canadian standards.
What do people hope to achieve by opening accounts in advance anyway? It doesnt help credit rating at all.
I guess if you're coming over and renting for a while, then no, there's no rush to open an account.
Mar 27th 2007, 8:51 pm
#12
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Joined: Feb 2005
Location: Toronto. ON
Posts: 919
Re: Hsbc
Hi
We opened up a HSBC Premier account a year before moving to Canada and found them to be wonderful. The whole process was painless and hassle free. We had accounts, credit cards with $10k limits and line of credit for $25k pre approved for our arrival. We still to this day dont pay any banking fees and whilst I agree with others that there are not many branches, we can use BMO atms for free. I would ask them to reconsider, remember banking is a highly competitive industry. If they dont want your business there are plenty of others who do!
SAW 04
We opened up a HSBC Premier account a year before moving to Canada and found them to be wonderful. The whole process was painless and hassle free. We had accounts, credit cards with $10k limits and line of credit for $25k pre approved for our arrival. We still to this day dont pay any banking fees and whilst I agree with others that there are not many branches, we can use BMO atms for free. I would ask them to reconsider, remember banking is a highly competitive industry. If they dont want your business there are plenty of others who do!
SAW 04
Hi,
As we have received our medical requests I thought it was time to open a bank account in Canada. I had already opened a HSBC account here as I had heard it was easy to transfer across. I called HSBC International and they have just sent through the paperwork. It is like a phone book. They want £100 fee for setting it up, an opening balance of 1500CAD (paid by bankers draft), proof of our reason for wanting to open the account and a list of how many deposits/withdrawals will be made every month.
This all seems a touch excessive to me. Can anyone recommend another bank to deal with that will make settling in NS easier. I really would like it set up now so I am organised.
Thanks
Angela
As we have received our medical requests I thought it was time to open a bank account in Canada. I had already opened a HSBC account here as I had heard it was easy to transfer across. I called HSBC International and they have just sent through the paperwork. It is like a phone book. They want £100 fee for setting it up, an opening balance of 1500CAD (paid by bankers draft), proof of our reason for wanting to open the account and a list of how many deposits/withdrawals will be made every month.
This all seems a touch excessive to me. Can anyone recommend another bank to deal with that will make settling in NS easier. I really would like it set up now so I am organised.
Thanks
Angela
Mar 27th 2007, 11:19 pm
#13
Joined: Feb 2007
Posts: 3,020
Re: Hsbc
I don't think HSBC Premier accounts are available to just anyone. I believe you have to fit certain criteria and are "invited" to open an account.
Mar 28th 2007, 12:05 pm
#14
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Joined: Feb 2005
Location: Toronto. ON
Posts: 919
Re: Hsbc
We were certainly not invited to apply. We qualified as we deposited a reasonable chunk of equity from our house sale. Our salaries were above average but not huge. They are very flexible regarding the premier criteria.
Mar 28th 2007, 12:07 pm
#15
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Joined: Jan 2007
Location: BC
Posts: 1,375
Re: Hsbc
SAW - same as you - deposited house equity and got Premier that way.
Steve 666 - yep, off to Kelowna too. When do you go?
Steve 666 - yep, off to Kelowna too. When do you go?