Best bank to deal with for new comers

[user828]

Father is new immigrant, was wondering which one has the smoothest experience when it comes to "newcomers" banking where they provide credit card etc
I deal with scotia - and thinking of adding my father to my account as joint and apply for Credit Card separately as new comer or have him open his own account with a different bank for variety

 

[newtone]

When it comes to Banks its all the same. Standard protocol is HFG...Hungry For Money. They'll lend you money at 6% interest but when giving you money its 1%. The whole game is about interest. You have to make sure it works in your favour.

First rule is SAVE, SAVE, SAVE and then buy, unless you are buying something really really expensive (appreciating asset) like a house. Money disappears fast in Canada
Second rule, live below your means, if you know you can afford $2000/month lifestyle make sure you live as someone making $1200. This way you save $800/month
Third rule, if you are renting or buying a house make sure your monthly mortgage/ rent does not exceed 1/3 of your "NET SALARY" at the end of the month
Fourth rule DO NOT donate to charity unless you know every single penny is being used towards the well being of the person you are donating it to. Millions of scam charitable organizations in Canada.

 

[user828]

Just wanted to know which is better for new comers account, read my bank scotia has good response

http://www.canadavisa.com/canada-immigration-discussion-board/landed-immigrants-bank-account-free-creditcard-t67773.0.html

 

[user828]

That was a bummer, this option is only good for upto FC3 class - Parents and Grandparents are FC4, my dad works so we went via that route

 

[Suin]

RBC. We've been dealing with them from the day of landing - excellent service and best option for newcomers.

 

[mooer]

I can also recommend RBC - very helpful from day 1.