CIBC bankg - is it good?

[frotenacs]

This is the way I am going. I opened a chequing account with PC, no visa debit card. I got this card right way and activated at the pavilion. This debit card also doesn't have my name inscribed. Next, I have to inquire about the unsecured credit card at TD.

This means I will close my RBC chequing & savings accounts next week.

As I mentioned early, I advise my friends and family who are new to Canada to get a credit card visa with TD as TD was providing unsecured credit cards for newcomers up to $1500 limit and open a no fee account at either a credit union or ING or PC Financial. You can get pay off your credit card balances as a bill payment from PC Financial/ING or credit union account. Also you will establish credit history in Canada which is very important.

 

[actonis]

@Dejaavu & anyone with a knowledge

About transactions, I know that they count transactions like taking money out of ATM or making online payment.
Does when you pay in a store with your card they count as a transaction i.e I buy clothes in 5 store and I pay with my card, I have made 5 transactions?

Thanks,

 

[Dejaavu]

Yes it does. Anytime money leaves the account it is a transaction.
Only exception at least at TD, when there is a transfer from chequing to savings account that is not considered a transaction.

 

[actonis]

Thanks Dejaavu
I will need card with unlimited transactions then.

One more thing. Do I need to have permanent address in Alberta in order to open bank account?
Would they as for address, let's say I open account at TD.
I will stay at the beginning in a company apartment and can get letter from my company as proof that I stay there.
If I present this, will the write that address?
I am asking this as I will need proof that I live in Alberta in order to get my health card.
Tanks

 

[Dejaavu]

You can provide a company address as your address. It should be fine as long as it is not a PO box.