Opening a Bank Account - Need some advice!!
 

Hi all,

I am about to land and was just wondering if anybody has some recommendations on banks and opening a bank account. Is it possible to do that from the U.S.? Also, what is the most effective way to transfer money to the new bank account? I tried talking to Bank of America and was only informed that they have an affiliation with the Scotia Bank, meaning that I could use their ATM free of charge. Any information will be thankfully recieved.

Thanks.

SaloneBoy

Re: Opening a Bank Account - Need some advice!!
 

I think i have read alot of threads on this! just browse this forum a bit more! u will surely find answers..
i am not sure but someone would answer ur query

Re: Opening a Bank Account - Need some advice!!
 

I do know that if you want to open a bank account in canada you have to be present and sign forms infront of bank official. They will not allow you to do it by fax or over the phone nor can you have someone open a joint account with your name. It all has to be done in person. I talked to the Scotiabank yesterday and this is what I was told.. Also the TD bank and they said that all banks have changed alot since Sept 11th. This is what I have learned.

boyee

Re: Opening a Bank Account - Need some advice!!
 

As already mentioned in other threads, I did it with HSBC from the UK. No problems.

But Mr B wants to go with Scotiabank (good deal and rates from them for people on his course) and they have emailed him this. I've cut personal identifying stuff out of the email but this is what they said, word for word copied:-

A bank staff member has to take 2 pieces of ID to open an account. This is part of the governments anti-money laundering legislation. You can fax me the PR landing forms, the acceptance from the university, along with copies of 2 pieces of identification. I can open the account but you will not be able to write any cheques or anyting until you stop by our branch and we validate the ID in person. Make sure you give an address and phone number for you in XXXXX. Once I have all this I can open an acocount, advise you the number, and you can wire the funds to your account.

So it seems it is possible. We haven't tried Scotiabank's suggestions above, but will do so next week.

Hth :)

Biiiiink

Re: Opening a Bank Account - Need some advice!!
 

You'll need to check if any of the Canadian banks have offshore branches is the US. We opened an account with the CIBC bank in Singapore after getting the visas, but before landing in Canada. You need to show them your passport with the visa stamped on it and one more document eg driving licence, an ID card etc.

Re: Opening a Bank Account - Need some advice!!
 

If you go in in person to the Royal Bank of Canada, they only needed a passort and driving licence.
We live in Uk and do all our banking via the internet to pay all of our bills on Canadian property.
They also allow you to save funds in Canadian dollars or US Dollars, and you can use your ATM card both in the US and Canada. It took us less than an hour to set up our internet account it is very straight forward and easy. Also there are RBC Atm's everywhere. There are charges but these are small compared to the great service we had and the convenience and speed that they set it all up. We can also telephone for help and have always had very helpful advice from staff.