Hi, I landed and opened an account with TD. The whole process was quite smooth, I walked into the branch, they asked me what I was looking for and they set up an appointment for me the next day. Next day after about 2 hours with them I walked out with 4 accounts set up, a debit card, cheques and a secured credit card approved.
My wife landed a few months later and I took her to the parent branch of BMO (001 in Montreal). I took her to BMO because they had a credit card that I wanted for her. I asked if we can get a secured credit card for her along with the bank accounts. The rep there said sure no problem, let me open her accounts first and then we'll get to the credit card. He opened the accounts and I deposited the cash in the accounts then he tells me I can't give you a credit card since you just landed. I told him I started the account opening and came to BMO because of a particular credit card and anyway don't need a unsecured card as I was willing to put a $5000 blocked deposit for a secured card. He told me he can't do secured credit cards. I told him if BMO doesn't want to give us a credit card which we willing to put a deposit in for, I don't think they are the right bank for us and to cancel our account opening and return our deposits. The guy walked back and forth into other offices for a couple of minutes and then told me no problem it's all approved and I'll hear from him in a couple of days. Fast forward a couple of days and I called him to check and no call back. I emailed him and no reply. We didn't get the debit card with her name on it and we never even got her cheques! We then left as we had to travel urgently back for a family emergency.
Fast forward three months and in Toronto I went to another BMO branch, I told the rep we wanted a credit card for my wife and I was willing to put in a deposit equal to her credit limit. She told me BMO doesn't do secured credit cards and maybe she could put in an application for an unsecured one for a lower limit like a $1000. I said fine as I just wanted a card to start building my wife's credit history. She then told me the largest lie I have heard that "a secured credit card doesn't build credit history" I told her she was mistaken and that's how new immigrants or people with bad credit build/rebuild their credit history to which she arrogantly replied "I do this all day for a couple of years". I didn't want to argue just wanted to a credit card for my wife. Anyway filled out the forms and the rep said she'll be in touch within 3/4 business days. Just like the BMO rep in Montreal called her a couple of days later when we didn't get a call from her and no reply, then emailed her and no reply also. A few days later got a rejection letter in the mail, so much for BMO's immigrant packages! I decided to close all our accounts there. Went today to the branch to find an old couple screaming at a BMO rep at the counter at his incompetence. I felt sorry for him only to realize the elderly couple was actually being nice to this guy who was a total imbecile. He took almost 45 minutes to close our accounts which was a 10 minute job max. Didn't even ask once why were why closing our accounts at BMO. He couldn't even print a bank draft and spoiled atleast 5 bank drafts papers before giving us one. Even that one we realized was printed without a name on it ! That ended our experience with BMO.
In a nutshell horrible services, incompetent lying staff and completely untrusting to new immigrants even when being offered full security for banking.
Day before walked into the shiny new RBC branch close to our home. Walked into an almost empty branch around 5. The senior rep who was sitting there not looking very busy came and asked if she could help. We told her we were at BMO and had heard good things about RBC and wanted to move banks. She asked us what we needed and I told her we needed a credit card for my wife, secured or unsecured didn't matter. She took a scan of our documents and told us that as investor immigrants she could offer my wife a $2000 unsecured credit card and setup an appointment for us the next day. Went at the appointed time today to see her with additional documents that she said that she wanted and what she told us was priceless. She said and I quote "Unfortunately we cannot offer you a $2000 credit card, we can only offer you a $5000 one, there's just one caveat, you have to open the account with a $250,000 deposit!" I almost laughed in her face, seriously ? I needed to open an account with $250,000 to get a $5000 unsecured credit card ?? I amusingly asked her what about the glowing we welcome new immigrant packages on their website and she said we can offer you $500 if you were in Canada as a refugee but since you immigrated as a millionaire investor our terms for your credit card are the $250,000 required account opening deposit.
What a joke! Learnt today not to believe the "Welcome to Canada" crap these banks have on their websites. This is RBC for you.
My wife was kind of sad at this back and forth and felt a bit embarrassed. BMO and RBC made us feel like we were asking for money even though we were offering it to them !
Went across the street to TD. It was around 6pm by then. We waited in line for our turn and then told them we wanted to open an account and get a credit card. The guy told us most of the staff has left for the day and could he give us an appointment for tomorrow. After seeing how disappointed my wife was I told him we can only do right now. He went in and talked to his senior who came out of his office immediately, told us he's tied up with appointments today but if we can try do everything superfast? No problem with us. In under 15 minutes he had two accounts for my wife set up, he gave her her debit card, had applied for her debit card with her name on it and he asked us which credit card did we need? I picked one from the list and he said he'll put in an application for an approval, I told him I don't want to wait for the approval I would like to do a $5000 secured card. He said no problem. Two minutes later he said all approved and you will get your card delivered to your home in a few days. He also handed her cheques and was even kind enough to reimburse the draft fee's that we gave at BMO for the two drafts ! It was a small $15 but that's service for you.
In short, BMO is terrible, RBC was fishy and condescending and their online new immigrant packages were complete lies if not grossly misleading.
Over the year that I've been using TD, every branch I have walked into either for drafts or withdrawals or anything else I've just been met with polite and knowledgeable staff and excellent service. For us TD is the only bank.
