Hello everyone, I've tried searching for other forum posts where users might've shared an experience that I could relate with, but I can't seem to find something that's close. We've received PPR and I will soon travel ("soft-landing") with my wife to Canada to apply for our SIN and PR card. Once that's done, we'll start planning our permanent move but we have no rush to do this any time soon. We're thinking of moving in maybe a year or 2 from now. What I'm interested in finding out is what might be the best bank option to open a bank account in. During our "soft-landing", we want to bring in about USD$6,000 in cash and then eventually wire transfer our money. A lot of banks charge monthly fees for not maintaining a minimum amount, fees for not using the account every month, or whatever other reason. So far, these are the options I've found: National Bank: No flat monthly fee for up to 3 years. The bank probably charges $15 to receive wire transfers, but I can't find a link to confirm this. https://www.nbc.ca/personal/accounts/newcomers.html Scotiabank: No monthly account fees on the Preferred Package chequing account for one year. The bank charges $15 for incoming wire transfers. https://startright.scotiabank.com/newcomers.html https://www.scotiabank.com/ca/en/personal/bank-accounts/fees.html HSBC: They charge a monthly fee if the minimum is not available, this depends on the account type. Global transfer can be initiated only if both countries have a Premier or Advance account. https://www.hsbc.ca/new-to-canada/ https://www.hsbc.ca/chequing-accounts/ TD: The bank probably charges $15 to receive wire transfers, but I can't find a link to confirm this. https://www.td.com/ca/en/personal-banking/solutions/new-to-canada/ RBC: Monthly fee from $10 up to $30 for wire transfers. https://www.rbc.com/newcomers/ BMO: Charges $14 for incoming wire transfers. https://www.bmo.com/pdf/Agreements_Bank_Plans_and_Fees_for_Everyday_Banking.pdf It seems BMO and HSBC might be the best options so far from that list. My concern is that since our permanent move will be up in the air for quite a while (possibly up to 2 years), I'd like to know if we need to file taxes for the bank accounts. I'd also just like to know what other people in general have done, in case your situation was/is similar to ours. Thanks!