Bank Account For Immigrant

[f2]

Deal All,
Can anyone already in Canada advise on the best Bank and Account type for newly landed immigrant.
Thanks
F2

 

[qorax]

TD Canada Trust, Scotiabank & CIBC r used by many due to their omni-presence here. U'll find their branches in most neighborhoods & even in the remotest of places. I'm with TD.

Qorax

 

[f2]

Thanks

 

[Rami Farah]

Hi I have inquired about Scotiabank and they sent me the following email... all the best


Dear Sir,

Thank you very much for your note.

The International Account Opening Program is available in Dubai through our partner bank HDFC.
You can visit any of their branches and inquiry about the program. They will help you open a Canadian bank account with Scotiabank, apply for your VISA credit card, and wire-transfer your funds before you move to Canada.

In regards to the benefits, we have a banking package for new immigrants, foreign workers, and international students. For detailed information on each of them I encourage you to visit our website.scotiabank.startright.com.

If you are coming to Canada as a landed immigrant, these are some of the benefits available through the StartRight Program:

- Free day-to-day banking for one year: This includes all the ABM and Teller assisted withdrawals, cheques, payments with your debit card, etc.
- Free small safety deposit box for one year
- No-Fee Scotia Moneyback VISA card with an initial credit limit of $1,000
- 1 year cashable GIC with 0.50% bonus
- Free 13 week subscription to the National Post newspaper and a free international calling card
- If you need a car you can buy one through the StartRight Auto Loan Program
- Plus a wide range of complementary products and services.

The Scotiabank StartRight Program is a very complete banking package, and offers lots of benefits and substantial savings.

Please visit our website for more information, and please let me know if you need any help with your international account opening program

Regards,


Communications Manager
Multicultural Banking

 

[Rami Farah]

Big Five (banks) in CANADA
From Wikipedia, the free encyclopediaJump to: navigation, search
Big Five is the name colloquially given to the five biggest banks that dominate the banking industry in Canada. All five banks are operationally headquartered in Toronto, Ontario.

The Big Five Banks are all classified as Schedule I banks that are domestic banks operating in Canada under government charter. The banks' shares are widely held, with any entity allowed to hold a maximum of twenty percent.[1]

http://en.wikipedia.org/wiki/Big_Five_(banks)

click on big_five to see the schedule

 

[chibiks]

something i really dont like in Canada is excessive banking fees & charges. do you know any immigrant charges where monthly mainenance fee is waived? I would be interested!

 

[explorer101]

Scotia Bank is best out of all for new immigrants.
They give : free as many transactions for 1 year
no maintaince charges, no minimum balance
unsecured credit card - visa for $1000
Not long ques in Scotia Bank unlike TD Bank.
Mortgage charges are lowest.
I just changed from TD Bank to Scotiabank.

 

[gcctocanada]

Scotia Bank is best out of all for new immigrants.
They give : free as many transactions for 1 year
no maintaince charges, no minimum balance
unsecured credit card - visa for $1000
Not long ques in Scotia Bank unlike TD Bank.
Mortgage charges are lowest.
I just changed from TD Bank to Scotiabank.

Thanks bro. I'll keep this in mind ...however my long wait has just started.

 

[Rami Farah]

Thank you explorer for this value information, I have already open an acount in Scotiabank through HDFC bank in Dubai but I am still waiting confirmation from Canada. to make wire transfer

Scotia Bank is best out of all for new immigrants.
They give : free as many transactions for 1 year
no maintaince charges, no minimum balance
unsecured credit card - visa for $1000
Not long ques in Scotia Bank unlike TD Bank.
Mortgage charges are lowest.
I just changed from TD Bank to Scotiabank.

 

[Skeptic]

One thing not to overlook is credit unions (caisses populaires in Quebec). Canada has one of the highest credit union enrollment rates in the world and, typically, charges for banking and rates of loans and other instruments are better than commercial banks. You may have to do some hunting to find them though since they advertise less than banks. Deposits in credit unions are insured by provincial credit union organizations, the one for Ontario is here http://www.dico.com/design/0_0_Eng.html and you can find the list of insured institutions and where they are located.

Some credit unions have membership limited to certain professions (police, teachers, government employees), but others are open to anyone in the community willing to join.

 

[Chami]

Scotia Bank is best out of all for new immigrants.
They give : free as many transactions for 1 year
no maintaince charges, no minimum balance
unsecured credit card - visa for $1000
Not long ques in Scotia Bank unlike TD Bank.
Mortgage charges are lowest.
I just changed from TD Bank to Scotiabank.

Good job, have you noticed any difference in customer service so far in BNS? is it better?
in 1 year you can change your account type to less fee one, just ask a teller to offer one, or search online

 

[attituderockz]

scotiabank is the best for newcomers...i opened from india and still bank thru them..no compaints as of now.
...and.man ...and why do u want to go the bank..u can do all ur banking transactions without going to bank... dont open the normal savings accoutns they charge heavily as other banks...

so ask for STARTRIGHT ACCOUNT.its a specially designed immigrant account..u get 4 cheques, unsecured credit card with no fee( ideal for new ppl looking to build credit history) ....

But after one year of the account opening be ready to face the account charges..
Banking is costly in canada and of course mobile plans...india is great when it comes to mobile plans..very cheap and huge varieties..in canada even to know who is calling u you have pay an extra amount every month....

 

[lpntocanada]

I landed in Vancouver last week and my first stop was Scotiabank because I heard a lot of good reviews here. But when I tried to open an account, the person in the bank informed me that they don't have the personnel to help me open an account and I have to wait for 4 days before they can do it. I went to TD Canada Trust and was immediately accomodated. I am very happy with the service of TD and they have differrent accounts and ways to eliminate the monthly charges.

 

[Chami]

I landed in Vancouver last week and my first stop was Scotiabank because I heard a lot of good reviews here. But when I tried to open an account, the person in the bank informed me that they don't have the personnel to help me open an account and I have to wait for 4 days before they can do it. I went to TD Canada Trust and was immediately accomodated. I am very happy with the service of TD and they have differrent accounts and ways to eliminate the monthly charges.

there are a lot of customers of Scotiabank, that's why they are very busy, u can still open an acct in Scotia, and get all benefits of the service after

Good luck

 

[YesBoss]

my freinds, for the new comers the best Bank is SCOTIA bank. evry other bank may give u the free account etc, but the biggest difference is UNSECURED CREDIT CARD. for new landed immigrants , Scotia is giving $1000 unsecured credit card. for a new immigrant its a very BIG thing. because to start making credit history u need a credit card, & few fone companies will give u phone only, if u hav credit card. REST all are same, no big difference.