Which bank to open account in

[faisal892]

Hi,

I landed in the last week and want to open a bank account. Which bank is the recommended one for newly landed immigrants? Please advise.

Faisal

 

[FSW_Applicant]

TD or Scotia. They have good products for new immigrants as well as lots of ATMs

 

[newtone]

More important question is you need to find a bank that suites your needs. All banks will claim we are the best for new immigrants. You need to figure out which bank fits your best interests. Location, hours, services, etc

 

[siroccoon]

You can find the newcomers package detail online from each bank.

 

[chasinglight]

I can't seem to decide myself. I like TD's longer opening hours that can make life very convenient I suppose. RBC is also supposed to be good from what I hear. Can't decide between these two

 

[cooldoc80]

its really puzziling i'm also thinking of it in advance

 

[newtone]

Like I said before you have to find what is convenient to you. Figure out what best suites you

 

[AMJ]

I would certainly recommend TD Canada Bank. They've got 'New Comers Package' which includes Chequeing, a Savings and a US Dollar Account at zero fees for first six months. You also get a Green Credit Card with a limit of $1000.00 plus an overdraft facility of $150.00. There's NO charges whatsoever for Wire transfers from abroad for Six months. After 6 months, ( or just before completion of 6 months) you may change your account to any regular Chequeing Account or else a bank charge of $32.50 would be levied, if your balance is below a certain amount.

 

[cooldoc80]

Td bank seems better than Scoti ?

 

[EmploymentOppty]

I'd say TD or Scotia. They're both rather convenient and have relatively good programs for newcomers. Stay away from RBC.

 

[TheNightmanCometh]

Anyone have experience with the cross border banking services of TD and/or RBC?

 

[lafrenier]

TD Bank will charge you for every step. It's the worst bank.

 

[JayPinNC]

I went with CIBC.

A few glitches along the way which can be expected from any bank, but my advice (if you go with CIBC) is to get yourself a personal financial advisor. Mine has helped me smooth out some wrinkles and gone above and beyond what your typical teller can/will do.

Although, my first piece of mail from CIBC was a FATCA letter. Come to think of it, so was my second and third piece of mail from them.

So there's that.

 

[EmploymentOppty]

Anyone have experience with the cross border banking services of TD and/or RBC?

TD has branches in the USA so if you're planning to use them south of the border, it's pretty convenient. Plus I've just found visa transfer option at e-bank there: you may send money directly to visa card abroad and that costs only $16.00. I don't really think though it's only TD service, should be available at other banks as well.

 

[Iqbalf]

RBC is one of the best banks I have banked with. They give you credit card without any Credit history and their accounts are usually free (no monthly fees).

I am with RBC since 2008 and haven't had any problem once nor I have paid a single penny, no matter what my balance is.