I need a simple, free bank account
#1
I need a simple, free bank account
Hi all, I'm landing in Calgary next week. While I'll be there for a few days, besides sorting out some other things, opening a bank account is also on my list. Somebody mentioned here once that bank accounts are not easy to have in Canada especially when you are new in the country, and most banks even charge you to look after your money? What??
I am an HSBC UK customer and would like to stay with them in Canada but thats not too important if theres better options available. Dont ask me to take my credit report from the UK cuz its crap and I'll be kicked straight out of the doors if its seen by a banker. I just need a basic bank account, and it would be nice to have an account with bank cards but I'm not too fussed on that either cuz I'm not moving permanently yet.
I am an HSBC UK customer and would like to stay with them in Canada but thats not too important if theres better options available. Dont ask me to take my credit report from the UK cuz its crap and I'll be kicked straight out of the doors if its seen by a banker. I just need a basic bank account, and it would be nice to have an account with bank cards but I'm not too fussed on that either cuz I'm not moving permanently yet.
#2
Re: I need a simple, free bank account
Hi all, I'm landing in Calgary next week. While I'll be there for a few days, besides sorting out some other things, opening a bank account is also on my list. Somebody mentioned here once that bank accounts are not easy to have in Canada especially when you are new in the country, and most banks even charge you to look after your money? What??
I am an HSBC UK customer and would like to stay with them in Canada but thats not too important if theres better options available. Dont ask me to take my credit report from the UK cuz its crap and I'll be kicked straight out of the doors if its seen by a banker. I just need a basic bank account, and it would be nice to have an account with bank cards but I'm not too fussed on that either cuz I'm not moving permanently yet.
I am an HSBC UK customer and would like to stay with them in Canada but thats not too important if theres better options available. Dont ask me to take my credit report from the UK cuz its crap and I'll be kicked straight out of the doors if its seen by a banker. I just need a basic bank account, and it would be nice to have an account with bank cards but I'm not too fussed on that either cuz I'm not moving permanently yet.
#3
Account Closed
Joined: Jan 2007
Posts: 2,404
Re: I need a simple, free bank account
Hi all, I'm landing in Calgary next week. While I'll be there for a few days, besides sorting out some other things, opening a bank account is also on my list. Somebody mentioned here once that bank accounts are not easy to have in Canada especially when you are new in the country, and most banks even charge you to look after your money? What??
I am an HSBC UK customer and would like to stay with them in Canada but thats not too important if theres better options available. Dont ask me to take my credit report from the UK cuz its crap and I'll be kicked straight out of the doors if its seen by a banker. I just need a basic bank account, and it would be nice to have an account with bank cards but I'm not too fussed on that either cuz I'm not moving permanently yet.
I am an HSBC UK customer and would like to stay with them in Canada but thats not too important if theres better options available. Dont ask me to take my credit report from the UK cuz its crap and I'll be kicked straight out of the doors if its seen by a banker. I just need a basic bank account, and it would be nice to have an account with bank cards but I'm not too fussed on that either cuz I'm not moving permanently yet.
#5
Account Closed
Joined: Jan 2007
Posts: 2,404
Re: I need a simple, free bank account
Just one of those things you begrudgingly have to put up with...
#6
Re: I need a simple, free bank account
I am also a happy PC customer. With the exception of one or two local credit unions I hear, I dont know of any other free day to day banking accounts here.
#7
BE Forum Addict
Joined: Feb 2005
Posts: 1,533
Re: I need a simple, free bank account
Hi
Without raining on your parade. The banks are able to see your UK credit reports, they don't always bother. But, as for a free bank account, some banks will only give you free account usage if you keep a minimum balance in there. I currently bank with TD Canada Trust and in order to have a Basic free account I have to keep a minimum of $1000 in it and it has to be paperless...ie online statement...but they do not send you any through the post.
I have heard that Presidents Choice offer a free account, so you may want to have a look at that. The easiest for you is to get another Canada HSBC, unless you don't want to use the same bank for whatever reason.
Hope this helps
Stef
Without raining on your parade. The banks are able to see your UK credit reports, they don't always bother. But, as for a free bank account, some banks will only give you free account usage if you keep a minimum balance in there. I currently bank with TD Canada Trust and in order to have a Basic free account I have to keep a minimum of $1000 in it and it has to be paperless...ie online statement...but they do not send you any through the post.
I have heard that Presidents Choice offer a free account, so you may want to have a look at that. The easiest for you is to get another Canada HSBC, unless you don't want to use the same bank for whatever reason.
Hope this helps
Stef
Hi all, I'm landing in Calgary next week. While I'll be there for a few days, besides sorting out some other things, opening a bank account is also on my list. Somebody mentioned here once that bank accounts are not easy to have in Canada especially when you are new in the country, and most banks even charge you to look after your money? What??
I am an HSBC UK customer and would like to stay with them in Canada but thats not too important if theres better options available. Dont ask me to take my credit report from the UK cuz its crap and I'll be kicked straight out of the doors if its seen by a banker. I just need a basic bank account, and it would be nice to have an account with bank cards but I'm not too fussed on that either cuz I'm not moving permanently yet.
I am an HSBC UK customer and would like to stay with them in Canada but thats not too important if theres better options available. Dont ask me to take my credit report from the UK cuz its crap and I'll be kicked straight out of the doors if its seen by a banker. I just need a basic bank account, and it would be nice to have an account with bank cards but I'm not too fussed on that either cuz I'm not moving permanently yet.
#9
BE Forum Addict
Joined: Feb 2005
Posts: 1,533
Re: I need a simple, free bank account
Hi
My friends husband works for RBC as a Mortgage Broker and I asked him if he needed an up to date credit report, as I had given him a copy about 2 years ago. He replied that he could get his own....so NOT completely untrue ....in fact...
So there must be a way.
Stef
My friends husband works for RBC as a Mortgage Broker and I asked him if he needed an up to date credit report, as I had given him a copy about 2 years ago. He replied that he could get his own....so NOT completely untrue ....in fact...
So there must be a way.
Stef
#10
Joined: Sep 2008
Posts: 12,830
Re: I need a simple, free bank account
Presidents Choice is an online bank and has no branches, so transactions have to be done through an ATM or online. Is not a full service bank. Some credit unions offer free chequeing accounts.
We bank with RBS, pay $30 a month and it covers everything including the Visa cards which would be $170 a year on their own and safety deposit box.
We bank with RBS, pay $30 a month and it covers everything including the Visa cards which would be $170 a year on their own and safety deposit box.
#11
Re: I need a simple, free bank account
Presidents Choice is an online bank and has no branches, so transactions have to be done through an ATM or online. Is not a full service bank. Some credit unions offer free chequeing accounts.
We bank with RBS, pay $30 a month and it covers everything including the Visa cards which would be $170 a year on their own and safety deposit box.
We bank with RBS, pay $30 a month and it covers everything including the Visa cards which would be $170 a year on their own and safety deposit box.
Who pays for credit cards anyway? I get premium services (purchase insurance etc) for no fees on both visa and mastercards
#12
Account Closed
Joined: Aug 2008
Posts: 7,284
Re: I need a simple, free bank account
Simple, free, and bank. Three words rarely seen together.- In Canada-
#13
BE Enthusiast
Joined: Jun 2008
Location: Sherwood Park - Alberta
Posts: 761
Re: I need a simple, free bank account
Today I enquired regarding doing an account transfer from Nat West to HSBC. They will transfer all my dealings here and then I can create a Canadian account before we come out - probably next 6-8 weeks with HSBC and therefore have 2 accounts - one in each country
I have a contact in TD Trust who is also looking at it, but I am not too sure if I don't have a fixed address what they can do.
At least with HSBC the account is there, maybe credit cards and also somewhere for my pay to go in, and transfer enough funds back home to cover the mortgage until the house is sold.
I pay currently with Nat West (£12) per month and get car breakdown, travel insurance.etc - most UK banks do this now. I am not too sure if any of these benefits occur in Canada for what they charge you.
So I think if you have a HSBC account it would be easier for a little while at least to stay with them and open up an account through them in Canada.
JET
I have a contact in TD Trust who is also looking at it, but I am not too sure if I don't have a fixed address what they can do.
At least with HSBC the account is there, maybe credit cards and also somewhere for my pay to go in, and transfer enough funds back home to cover the mortgage until the house is sold.
I pay currently with Nat West (£12) per month and get car breakdown, travel insurance.etc - most UK banks do this now. I am not too sure if any of these benefits occur in Canada for what they charge you.
So I think if you have a HSBC account it would be easier for a little while at least to stay with them and open up an account through them in Canada.
JET
#14
Re: I need a simple, free bank account
There are not many HSBC branches in Calgary so, if the OP likes the personal banking that above posters have made reference to, may not be a viable option for the OP. If personal banking is not an issue, I fail to see why anyone wouldn`t opt for PC Financial.
#15
Re: I need a simple, free bank account
I'd love to have an account with HSBC Canada if I could. Not sure what their minimum balance requirements are or how much they charge for keeping my money in a basic bank account. I dont mind if they dont pay me an interest (as I dont have heaps of money to leave in Canada anyway) but I will do if they want money from me in fees etc