HELP!! How to open a Canadian bank A/C from Dubai b4 landing??

[Mapleland]

Hello Everyone,

I know there have been several posts on this topic however things on ground keep changing with the condition the banks are in. I know it was possible to open an account with Scotiabank from Dubai but I understand this has now been discontinued.

My questions:

1) Any update if any other bank offers to open a bank account before landing based on PR visa?

2) Alternative suggestion on moving money other than draft/PO/traveller chqs or cash?

3) Any related information would be highly appreciated.

Cheers.

 

[computergeek]

1) Any update if any other bank offers to open a bank account before landing based on PR visa?

If you bank with HSBC they still advertise they will assist you in opening a new foreign account and there are plenty of HSBC branches in the UAE (www.hsbc.ae).

2) Alternative suggestion on moving money other than draft/PO/traveller chqs or cash?

I use XE (www.xe.com) for doing foreign exchange transactions. Their rates have been excellent and they are based in Victoria, BC.

Fair warning: if you will travel into Canada, it is far easier to bring in a cheque drawn on an international bank (e.g., HSBC) that is payable to you. Under CBSA rules, this is NOT a "monetary instrument" and does not need to be declared. If you bring traveller's cheques, cash, or anything that is demand payable (a "monetary instrument") that total above $10,000 you must declare it to CBSA upon entry into Canada.

I have no financial interests in either of these firms. I've just used them both successfully.

Good luck!

 

[art2012]

Hello Everyone,

I know there have been several posts on this topic however things on ground keep changing with the condition the banks are in. I know it was possible to open an account with Scotiabank from Dubai but I understand this has now been discontinued.

My questions:

1) Any update if any other bank offers to open a bank account before landing based on PR visa?

2) Alternative suggestion on moving money other than draft/PO/traveller chqs or cash?

3) Any related information would be highly appreciated.

Cheers.

Hi,

U r right, now u cant open account in scotia bank from dubai but one can open account in canada thru HSBC.
I gathered information before moving to canada 20days ago and i dont recommend it. HSBC atm r less in canada ,their charges r high,exchange rates r low,so big no no for HSBC.as far as i kw one cant open account in canada from dubai
except HSBC.

As advised by many in the forum,the best way to carry funds is dd/tc/cash.my advise 80% as dd rest as cash.

We landed in toronto and i can say its safer than any city in usa.

Once u land, u can get to local bank and deposit ur dd/cash/tt within a day or two.

If need any info reg toronto feel free to ask.

Good luck.
Rgds,
Art.

 

[steaky]

big no no for HSBC

Like computergeek had said, you can either bank with HSBC or you can bring in a cheque drawn on an international bank that is payable to you. Whereas it might be a big no for elsewhere, but in the lower mainland of BC, I can see lots of HSBC branches and atm machines.