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CIBC or RBC for new comers?

T

Tokibaee

Star Member
Apr 13, 2018
64
1
can anyone share their experience regarding opening a bank account for new comers.. is CIBC or RBC better? I was going with rbc but I read a lott of bad reviews on the internet such as very rude customer service, closing clients’ Bank accounts for no reason and extravagant monthly Fees...is that true?
 
There is monthly fees with RBC account (go to RBC website for details). Why are you comparing the two? How about the rest such as HSBC and TD?
 
I have accounts with each. (Credit Card, Savings, Checking with RBC; Credit Card, Checking, Savings, RRSP, and Line of Credit with CIBC). My experience is that CIBC is more friendly and helpful. I only keep RBC because they have a better cross-border arrangement for transferring funds to the US RBC accounts. CIBC gave me a year of no fees based on their newcomers plan. RBC charges me fees.
 
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mgnlky said:
I have accounts with each. (Credit Card, Savings, Checking with RBC; Credit Card, Checking, Savings, RRSP, and Line of Credit with CIBC). My experience is that CIBC is more friendly and helpful. I only keep RBC because they have a better cross-border arrangement for transferring funds to the US RBC accounts. CIBC gave me a year of no fees based on their newcomers plan. RBC charges me fees.
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Whats the starting limit for credit cards they offered and is their any interest on savings account
 
Wolverine17 said:
Whats the starting limit for credit cards they offered and is their any interest on savings account
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RBC unsecured without a job offer is 2,000$, same for CIBC. With a job offer, it can be higher. They both offer "high interest" savings accounts of .9%
 
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mgnlky said:
RBC unsecured without a job offer is 2,000$, same for CIBC. With a job offer, it can be higher. They both offer "high interest" savings accounts of .9%
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But RBC gave me $4000 unsecured without a job offer.
 
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