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Opening bank account before moving

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CMcM

Full Member
Aug 9, 2016
42
1
My husband and I are moving to Canada in April and are trying to set up a bank account before we arrive so that we can easily access our money. We've been moving £ into Canadian $ in a Transferwise Borderless account while the exchange rate is in our favour, as I think it's likely to get worse, but would like to set up a proper Canadian bank account if possible.

Has anyone done this? There appear to be several banks that offer accounts to new arrivals, but it's not 100% clear whether you can open them before arriving? Any recommendations for banks? We are currently leaning towards Scotiabank.
 
CMcM said:
My husband and I are moving to Canada in April and are trying to set up a bank account before we arrive so that we can easily access our money. We've been moving £ into Canadian $ in a Transferwise Borderless account while the exchange rate is in our favour, as I think it's likely to get worse, but would like to set up a proper Canadian bank account if possible.

Has anyone done this? There appear to be several banks that offer accounts to new arrivals, but it's not 100% clear whether you can open them before arriving? Any recommendations for banks? We are currently leaning towards Scotiabank.
Click to expand...
Hi
We opened a RBC account before moving as with this one no limit on amount of transfers or funds you can transfer ( Believe scotiabank can transfer monies only once with a limit of 50k Canadian). Was a bit of a pain to open from UK, as have to go to a sollicitor to verify copies of passport,COPR and driving licence etc. You cannot access account online nor use it untill after you arrive in Canada, you can email them and ask if funds have arrived and will get a statement in the post. They were helpfull in setting account up and when we arrived in Canada made an appointment with local branch to activate account. Also used TransferWise to exchange and send monies to RBC. Just one more point I think most Canadian banks will only open a newcomers account 2 to 3 months before you plan to arrive in Canada
 
I opened a RBC account about a year and a half before I landed or was approved for PR. Until I was able to make it to Canada and fully 'activate' it, the money in it was considered "deposit only."
 
mgnlky said:
I opened a RBC account about a year and a half before I landed or was approved for PR. Until I was able to make it to Canada and fully 'activate' it, the money in it was considered "deposit only."
Click to expand...

Can I know how you did that , I am moving to Canada after 6 months and I want to transfer my funds to there.

Regards
 
mgnlky said:
I opened a RBC account about a year and a half before I landed or was approved for PR. Until I was able to make it to Canada and fully 'activate' it, the money in it was considered "deposit only."
Click to expand...
I’m same position right now, thinking to move through Scotia bank as it seems much smother and easier. I think one can open bank account a week before traveling. What do you guys suggest, I can make one good deposit with PR letter. Suggestions please???
 
Hello all,

Planning to move as well. Just want to ask what was the transfer limit for RBC? Cant find any number.

Thanks.
 
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