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Moved: Opening a Canadian bank account

Moved: Opening a Canadian bank account

Old Nov 13th 2007, 9:11 pm
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Default Moved: Opening a Canadian bank account

Hi guys
We are finally setting off for Alberta on Friday. We have enough funds to last us a couple of weeks but how do we go about setting up a Canadian bank account to transfer our savings? I know in the UK you need a utility bill as proof of address... we won't have this as we are staying with family at first. Any advice from those of you who have done this already? Are there any temporary resident friendly banks that you know of?!! My husband needs to get something set up for his wages to go into.

Thanks in advance

Jude
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Old Nov 13th 2007, 9:23 pm
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Default Re: Opening a Canadian bank account

Originally Posted by Judeandandy
Hi guys
We are finally setting off for Alberta on Friday. We have enough funds to last us a couple of weeks but how do we go about setting up a Canadian bank account to transfer our savings? I know in the UK you need a utility bill as proof of address... we won't have this as we are staying with family at first. Any advice from those of you who have done this already? Are there any temporary resident friendly banks that you know of?!! My husband needs to get something set up for his wages to go into.
Have a look at HSBC's Passport a/c services (available for a one year introductory period). They waive the regular monthly account fees for the first six months.
http://www.hsbc.ca/1/2/en/personal/c.../hsbc-passport

You can open a Direct Savings a/c too with them, which at the moment is offering one of the highest interest rates (4.25%) on savings in Canada.
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Old Nov 13th 2007, 10:12 pm
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Default Re: Opening a Canadian bank account

I recently opened a bank account with HSBC in Canada. They required 2 forms of ID (I used UK drivers licence & passport), a copy of a utility bill (UK one was fine) and an equifax credit report (available instantly online for a nominal fee).

I made the appointment, turned up and walked out 30 minutes later with my plastic.

Easy peasy
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Old Nov 14th 2007, 7:53 am
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Default Re: Moved: Opening a Canadian bank account

Thanks guys
That is really helpful! In case it is useful for anyone ese, we have a Nationwide account in the UK... with this we can take money out from ATMs worldwide at a really good exchange rate and with no charges. This is what we are using until we get the Canadian account sorted.
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Old Nov 14th 2007, 2:23 pm
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Default Re: Moved: Opening a Canadian bank account

You might want to take a big wodge of cash with you as well; there's another thread kicking around here where someone's having real trouble with a variety of different UK bank cards and Canadian ATMs. In theory you should be fine with your Nationwide card - I've been fine with mine - but strange things can happen using your UK cards over here. Sure, you might not get the absolute best rate on the exchange if you do this, but it will give you some peace of mind.
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Old Nov 14th 2007, 4:57 pm
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Default Re: Moved: Opening a Canadian bank account

I opened an account with my local RBC branch while on a recce.

They offer a non residents account, so the address on it was my UK one. THey were great, v.helpful, and i had a bank card within a couple of days. They needed 2 pieces of ID, showing UK address, and it was all fairly painless.

When i landed, i just went in with my PR paperwork and they changed the account status and updated the address, etc.

I did it for exactly the same reason as you are saying, i was then able to transfer money over to it before i moved over. Worked out well.
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Old Nov 14th 2007, 5:39 pm
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Default Re: Moved: Opening a Canadian bank account

When I opened my first bank account with RBC they never asked for a proof of address (I used my temp address as my mailing address, you can change it later on online and you can even choose the option of e-statment anyway) but they asked for the original copy of the COPR+passport, I don't think they care about proof of address as they do in the UK, also a PAYG phone number was fine, the good bit they give you debit card same time.
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