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Bank Account & Credit Card - Without reaching Canada

Discussion in 'Settlement Issues' started by kn2172, Oct 10, 2019.

  1. Hi All ,

    I had a Question regarding opening first bank account and getting first credit card.

    I have already landed in Canada & I have also got my PR cards.

    But currently, I am out of Canada.

    Queries :

    1) Can I open a bank account before reaching Canada & start transactions? Which bank provides this facility?

    2) Can I get a Credit card before reaching Canada & WHICH bank offers this facility?

    Best Regards,
    KN
     
  2. Most of the banks will only offer an account and card once you are here.

    Having said that look for banks that have presence in Canada as well as your country, they might have cad accounts in your country (for ex. Td is present in Usa as well as Canada) from which you will be able to transfer money online.

    Similarly amex will be eager to offer you a credit card in Canada based on relation in your home country, although application completion requires presence in Canada
     
  3. HSBC do this sort ifvthing, but only for a premier account. Honestly, best to wait until you are actually in Canada
     
  4. I forgot to ask earlier, what is your intention that requires opening account/card earlier? Which country are you moving in from?
     
  5. You don’t want to set up all these banking accounts in Canada to minimize your chances of being a resident for tax purposes. Would suggest you wait until you arrive.
     
  6. But can still maintain a non resident bank account.
     
  7. I have never thought that getting a credit card would be so difficult in Canada. I have recently arrived, I don't have a job yet, but I do have money on my Canadian bank account and I was looking for a secured credit card, not a regular one. I applied for 2 secured credit cards at different banks and was rejected both times.

    I mean rejected for SECURED credit cards? What am I doing wrong?
     
  8. Suggest you go into (face to face) the branch of the Canadian bank with which you have your current account and ask them for a credit card. I did that and got one with a low credit limit, which has since (over 2 years) been increased to a sensible limit.
     
  9. That's what I did. I have a TD account and I went there.
     
  10. Me too. TD were pretty helpful.
     
  11. Well, in my case I got rejected after applying for a secured credit card in-person. She told me that since I am not employed, I don't have any income and I don't have credit history, it was pretty much expected that I wouldn't get a SECURED credit card.

    Also got rejected for Scotiabank secured credit card.

    I've no idea what is happening. I have a permanent address, no rental expenses, a fully owned car and enough money on my TD account to cover their annual income requirement more than twice. I don't get it.
     

  12. Don’t really understand either but assume you are looking for employment. It’s annoying but I’m sure once you’re employed you’ll have no problem.
     
  13. Try RBC. The relationship manager offered a secured credit card to my mom-in-law despite she has no income and little money in her bank account.
     
  14. Your point made me very curious. I did a soft landing this year in May and opened 2 accounts (Scotia and rbc) and got their credit cards. I deposited $300 in each account and now back in India use the credit card every month for $2 each card and add giftcard balance in my amazon account(trying to build my credit history). I pay the bill off using my balance amount in the chequing account. I was also given savings account in both the banks and I kept my money in it.

    Now my query is that as I'm not physically present in Canada and plan to land next year end. Will I be treated as tax resident?
    What happens if I don't file tax this year (as I'm non resident) and then file it next year? If they have questions that I believe I can prove cra that I was not a tax resident by showing my passport landing stamps in canada and India.

    Any suggestions?
     

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