Transfer money into Canada from abroad

[Snowisland]

RBC offers new immigrants a credit card with no credit check or proof of income. They give a 2000.00 limit. There is no monthly fee.
You can open a checking account with them without a SIN. But for the credit card you need a SIN.

 

[CDNPR2014]

RBC offers new immigrants a credit card with no credit check or proof of income. They give a 2000.00 limit. There is no monthly fee.
You can open a checking account with them without a SIN. But for the credit card you need a SIN.

and this isn't a "secure" credit card, meaning you have to put a chunk of money down in order to get the card?

 

[mf4361]

and this isn't a "secure" credit card, meaning you have to put a chunk of money down in order to get the card?

never heard of it

maybe you meant Visa Debit?

 

[CDNPR2014]

never heard of it

maybe you meant Visa Debit?

no. a secured credit card is a credit card given to people with no or low credit. it helps build credit. the bank or lender will require the person put down a lump sum payment (usually $300 or $500) to "secure" the use of the credit card. that way, if the person doesn't pay the bill, the company already has the money.

a visa debit card is a credit card that is connected to a chequing account and can be used as a credit card where debit isn't available. the money is drawn directly from that account.

 

[Edwin sam]

and this isn't a "secure" credit card, meaning you have to put a chunk of money down in order to get the card?

No, it is'nt a secure credit card. You dont have to deposit any money to get a credit card. Secure ones are usually issued to temporary workers. For PR's, bank will give you a credit card without any deposits.

 

[foodie69]

Years ago when we come to Canada, my wife and I were given credit cards by RBC with a limit of $1000 each. No deposit or charge or anything was needed.

 

[immigrationvisaadvice]

Years ago when we come to Canada, my wife and I were given credit cards by RBC with a limit of $1000 each. No deposit or charge or anything was needed.

you can go to kotak mahindra bank and u can open an account and they will transfer ur amount in that account ...this account will be nonoperational and when u visit Canada in any Scotia bank and provide details they will convert ur account to operational mode. Further no need to worry about account opening its a matter of 10minutes banks in canada are struggling for opening new account as they charge per month for keeping a account with them,,its opposite to India ..NO intreset is paid by Canadian Banks.

other option: U may convert ur money into travelers cheque this is the safest route in my opinion and after reaching Canada en-cash travelers cheque also i advice to take atleast 500 dollar cash in hand. along with their is limitation of taking cash in hand at airport i think its 10000 dollar please cheque it.

about credit card scotia bank provide a2000 dollar credit card with no fee but u have to open an chequing account(its similar to saving account in India).
further all the banks other than state bank of India which is operational in Canada. SBI Canada only offers free charge account if u keep minimum balance of 1000dollar. Allother banks deduct 3-4 dollar per month fee including scotia,td,rbc,montreal .....only limitation is that SBI canada is at prime locations of Canada. I prefer all Indians to go for SBI account.

 

[foodie69]

you can go to kotak mahindra bank and u can open an account and they will transfer ur amount in that account ...this account will be nonoperational and when u visit Canada in any Scotia bank and provide details they will convert ur account to operational mode. Further no need to worry about account opening its a matter of 10minutes banks in canada are struggling for opening new account as they charge per month for keeping a account with them,,its opposite to India ..NO intreset is paid by Canadian Banks.

other option: U may convert ur money into travelers cheque this is the safest route in my opinion and after reaching Canada en-cash travelers cheque also i advice to take atleast 500 dollar cash in hand. along with their is limitation of taking cash in hand at airport i think its 10000 dollar please cheque it.

about credit card scotia bank provide a2000 dollar credit card with no fee but u have to open an chequing account(its similar to saving account in India).
further all the banks other than state bank of India which is operational in Canada. SBI Canada only offers free charge account if u keep minimum balance of 1000dollar. Allother banks deduct 3-4 dollar per month fee including scotia,td,rbc,montreal .....only limitation is that SBI canada is at prime locations of Canada. I prefer all Indians to go for SBI account.

Thanks, but I am not from India and have no reason to do business there.