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Queries on day-to-day banking in Canada

secret.simon

Full Member
Jun 10, 2017
20
1
General questions

a) Are Canadian bank debit cards generally chip-and-pin enabled? Or are they chip-and-signature? Or are they magnetic-stripe and signature?
b) Are Canadian bank debit cards contactless? If yes, what is the daily and per-transaction limit on contactless transactions?
c) Can Canadian bank debit cards be used across ATMs of other banks without charge or is a charge applicable if a non-network ATM is used?
d) Are there any specific actions other than opening a bank account that require one to visit a bank branch (as opposed to banking online or phone banking)?
e) Are there any recommendations for any specific bank products for newcomers/new immigrants?
f) Can a Canadian bank account be opened while still abroad?

Specific bank questions
g) Does anybody have any experience of using HSBC Premier accounts (set up abroad) in Canada?
 

k.h.p.

VIP Member
Mar 1, 2019
8,810
2,248
Canada
I am answering this assuming by your use of "debit card" you're using the Canadian terminology (a card attached only to a bank account) and not the American usages (where it could be a credit card too, I'm not sure)

a) generally chip and PIN, never signature of any kind, sometimes mag stripe and pin.

b) some are, limits depend entirely on the bank/institution and account type

c) There are generally charges for most banks. Most credit unions allow fee-free access.

d) anything that involves signatures for tax forms or verification of identification

e) I don't have any

f) not really - they need to verify information first. you may be able to get an account that allows you to wire in money, but they still need to verify your identity and have you sign forms.

g) no experience. I do know that HSBC accounts in Canada don't have easy access to HSBC in China and vice versa.
 

canuck78

VIP Member
Jun 18, 2017
52,959
12,758
C) yes using out of network atms usually involve fees.

Would add that if you are only doing a short landing you should make effort to have the least ties to Canada as possible to maintain your non resident tax status,