Which Bank is Best?!

[mr.Hope]

Hello Folks!!!

I have landed Edmonton,Canada....GOT my SIN,Health Card, and GDL ...Everything is fine but banking sucks!!!

I wanted to share my experience about banking in Canada...Please never open Scotia Bank Account from anywhere....they are big Cheater in all terms...

First I got confirmation Letter for remittance and once i made my remittance then the money revert back to my Indian Account- Due to negligence of Scotia Bank...

Secondly they have very limited ABM around the whole city...you will have to cross miles to get ABM...and if u use any other ABM then they will deduct 2 CAD per transaction...

Its my personal opinion and observation....Please avoid such banking...

With Regards,

THANKS, + 1 FOR THIS.

 

[JessNess]

THANKS, + 1 FOR THIS.

YES, +100 lol, thanks for the advice everyone!

I will try TD first

 

[techtalk]

Check for ING Direct/Tangerine. It's no nonsense bank with lot of features. Reach out to me if you want to know more and get signup bonus.

 

[Haiderzaidi]

great info. thanks

 

[davek1979]

Every bank will charge you for using a different banks ATM's it is because they have to pay the other bank for using their infrastructure. Most banks are charging about 2 dollars. I have used ATM's that the stores own and the sky is the limit.

 

[CB]

Basic plans for top 5 banks are same, monthly service charges are based on # of transactions on account, be smart use Visa/credit for day to day transactions to keep txn volume low on bank account. When deciding on credit cards keep in mind what you want, lots of options are available Scene for movie lovers... low cash back on no annual fee cards, high cash back on annual fee cards, travel point cards..list is end less. As for customer service I have been using Scotia Bank for 3 years now and I have not given a single call to them, every thing you need for banking purpose is available on line....and all of the banks have fairly convenient online banking. My suggestion start with basic chequing account with lowest monthly fee and upgrade if need arises.

 

[Rob_TO]

I have used Presidents Choice Financial bank for over 10 years now, and have no problems at all. It's completely free with no monthly service charges, and with that you get chequing, saving, high interest saving, TFSA or RRSP accounts, unlimited debit transactions, unlimited ATM withdrawals at CIBC or Loblaws ATMs, and as many free cheques as you want.

The only drawback is there is no physical bank. Everything is done online or over the phone, or sent to a CIBC where you can pick things up.

 

[Suin]

We are quite happy with the RBC. Great customer service, no hidden banking fees, affordable services.

 

[Kysorb]

In BC, especially in the lower mainland, I would always choose the Coast Capital credit union. They have an account is that is free and unlimited transactions no matter how much money you have(or don't have) and you can make deposits at any ATM on The Exchange Network across Canada.

The website http://www.the-exchange.ca can help you find a bank or credit near you.

I may sound like a promotional message but I signed up for an account there just after I finished university and didn't have enough money to meet any of the banks "minimum requirements" for fee less banking. Now I have the money to meet those minimums, but I feel very loyal to Coast Capital because they were willing to take me when I had nothing .

Some may have lots of money but i assume most people moving to Canada probably don't come with lots money and end up giving away 15-20$ monthly to banks. It's Silly.

 

[rayman_m]

I would recommend RBC Bank but TD, CIBC also a choice...

 

[Applicant7]

I have used Presidents Choice Financial bank for over 10 years now, and have no problems at all. It's completely free with no monthly service charges, and with that you get chequing, saving, high interest saving, TFSA or RRSP accounts, unlimited debit transactions, unlimited ATM withdrawals at CIBC or Loblaws ATMs, and as many free cheques as you want.

The only drawback is there is no physical bank. Everything is done online or over the phone, or sent to a CIBC where you can pick things up.

Completely agree, although I am unsure whether they exist outside Ontario. I have been using them since I was about 12, and they have been nothing but wonderful. I will concede on the no physical bank part however.

 

[rhcohen2014]

i am on my last straw with TD bank. they have been nothing but complicated since day 1 for an account i hardly even use! if the bank doesn't step up by when they say they will, i will be pulling my account and going elsewhere.

 

[cycloneblurr]

i am on my last straw with TD bank. they have been nothing but complicated since day 1 for an account i hardly even use! if the bank doesn't step up by when they say they will, i will be pulling my account and going elsewhere.

hi rhcohen2014, hope you are doing great today.

can i ask you about your experience with TD bank? i'm interested to open an account with them and would like to get some first-hand feedback from their customers.

thanks.

 

[Bargeld]

i am on my last straw with TD bank. they have been nothing but complicated since day 1 for an account i hardly even use! if the bank doesn't step up by when they say they will, i will be pulling my account and going elsewhere.

What does this even mean?

Complicated how? "Step up" on what?

I honestly prefer Scotiabank for the perks, but we've had TD ever since I came to Canada and the worst I've encountered was some random branch employee not knowing how to exchange US change back to Canadian following a trip to Montana.

 

[rhcohen2014]

What does this even mean?

Complicated how? "Step up" on what?

I honestly prefer Scotiabank for the perks, but we've had TD ever since I came to Canada and the worst I've encountered was some random branch employee not knowing how to exchange US change back to Canadian following a trip to Montana.

sending me a bank statement for my proof of residence. I requested it in SEPTEMBER, and for some reason it was never sent in October, and they can't force send anything. Now i have to wait until tomorrow for it to get sent out. i have my doubts about it frankly.

oh and don't even get me started about the phone banking security they have. ridiculous information they were requiring me to know without a bank statement. i seriously felt like i was taking a freaking history exam about my life and times with TD bank. and then, when i called a second time and "offered" the information before they aske for it, they said they couldn't use the info because i offered it up before they asked for it. it was just a *censored word* show all around.

if i don't get my bank statement in 7-10 days, i'm shutting it down and going elsewhere!