After landing to open up a bank account?

[rhcohen2014]

Yes. But how then make a wire transfer from home country?

once the new account is open, then the wire transfer would be initiated. people can have bank accounts open in countries they aren't currently living in. i'm sure the OP isn't going to initiate a wire transfer until they know precisely where they are forwarding the funds. the bank certainly won't initiate one without confirmation of where it's going.

 

[Regina]

So what you say is you may arrange money transfer but not have it completed by the bank (#1) in you home country? and when you get to Canada and open here a bank account (#2)you could call(email?) to you bank in your home country (#1), provide them with your Canadian bank account details and the bank #1 will transfer your money to your #2 account?

 

[rhcohen2014]

So what you say is you may arrange money transfer but not have it completed by the bank (#1) in you home country? and when you get to Canada and open here a bank account (#2)you could call(email?) to you bank in your home country (#1), provide them with your Canadian bank account details and the bank #1 will transfer your money to your #2 account?

well, i would imagine each bank has their own protocol. so since i am not a customer of the OP's bank, i don't know how that bank works. I do know if I needed to transfer money from my bank to a canadian bank while in canada, i can call them to do it. Or they would mail me the necessary paperwork to fill out and i would mail it back. I would assume most banks these days don't require the person to be there in person to authorize a transfer.

 

[steaky]

And you need to have an account in Canadian bank which you cannot open being still in your home country.

Speaking from personal experience, it is possible to open an account in Canadian bank while outside Canada

 

[Matt the Aussie]

Hello Matt the Aussie

I am going to land in Kitchener-CIC on May 23, 2014. Because I found you landed there, so could I ask you a few questions? Thanks in advance.

1. from the interview letter, they require all documents that CIC issued, however, I just have current work permit and lost the previous expired work permit, will this be a problem?
2.They also ask to bring SIN card, I am curious what they do with this SIN number, do they just check my status or will they revoke my SIN number and force me to reapply the new SIN number?
3. Do I need to bring anything else besides the required items from that interview letter?
4. Do you know if there is any place for parking?Is it FREE or I have to paid? And how far it is from parking lot to the interview office?Is it easy to find parking place around there?

Sorry for bothering you a lot and hope you have a great day.

HYJK1982

I responded to your PM.

 

[Regina]

open an account in Canadian bank while outside Canada

If you have get PR visa.

 

[Regina]

they would mail me the necessary paperwork to fill out and i would mail it back. I would assume most banks these days don't require the person to be there in person to authorize a transfer

Thank you for your answer. I know you could do it in North Amerca (between Usa and Canada) but not so sure about Europe or East.

 

[user828]

I am landing in Ontario this month in 2 weeks. Can I open a bank account with just my passport and documents from immigration or do I need anything special?

Thank you!

Yes, my folks just did + got Credit Card

 

[Suin]

I am landing in Ontario this month in 2 weeks. Can I open a bank account with just my passport and documents from immigration or do I need anything special?

Thank you!

Some banks require SIN#. Otherwise there's no problem to open the bank account with your passport and landing papers. As you are landing in Ontario, you can apply and get the SIN# the same day. So there should be no problem to open the bank account at all.

 

[Suin]

Thank you. I got money and will have my bank in Europe do a wire transfer to the newer account.

If you have somebody in your home country to send you this money as a gift that would solve all the problems.

 

[jancath410]

Some banks require SIN#. Otherwise there's no problem to open the bank account with your passport and landing papers. As you are landing in Ontario, you can apply and get the SIN# the same day. So there should be no problem to open the bank account at all.

Providing your SIN is optional. To open an account, you need 2 pieces of ID ie. passport, birth certificate, landing pr (brown paper), PR card, etc. Some banks do not accept Health Card. For 10K and up, they may ask for source of funds so when you land, you can declare that you still have assets to follow (60k) and that will be indicated on the landing form, & you can take that with you at the bank. Or you can bring 3 months statement from your current bank to show source of funds. They may hold your wire to confirm. I would let the banker know that there's money coming upon opening an account and see if they need anything to avoid the hold.

 

[steaky]

If you have get PR visa.

Not necessary.

 

[toby]

Using ATMs can be expensive over the long haul. If you're withdrawing from a foreign account, there is a limit (usually $300 at Canadian ATMs), and each withdrawal is charged the ATM fee.

I have had NO problems transferring large amounts from abroad into my Canadian bank account. In one case it was from Hong Kong to Canada, in two other cases from the USA into Canada. In each case I alerted my Canadian bank ahead of time. I don't know if that made a difference or not. In all cases the transfer went smoothly.

Just be sure to ask your Canadian bank exactly what information is necessary for the money to find your account.

As far as alerting the tax authorities, I don'tt think Canada is as careful about that sort of thing as the USA is. But even if Canada were tracking your transfers, there is nothing illegal or taxable about transferring your money into Canada. It is any investment income from that cash (interest or stock capital gains, etc) that are taxable, and you pay tax to Canada whether the income is made in Canada or abroad.

If you can pick the time to transfer, keep an eye on the exchange rate, to choose a time when you get more Canadian dollars for your foreign currency. Most Canadian banks will immediately convert the incoming money into Canadian dollars, using the exchange rate of the day. The only control you have is WHEN you make the transfer.


So, in brief, transfer the money you need into Canada by wire transfer, but keep an eye on exchange rates to determine when to do it..

 

[JustMarried81]

No traverlers check. I'll just get like $10k cash and a check cause they make you wait 30 days to clear it in Canada. The amount to transfer can be a large sum, so no restrictions. I just give them the account information with the bank information in Canada.

Once I am in Canada my bank here in Europe can transfer the amount no problem they just require the info.

Regina - My home country allows us to have this service done world wide. They have special log in with codes and ships and USB plus other things. They have their own system email on the site when you log in with all the hardcore complex log ins. Any service required can be done. Plus I already asked the bank if it's possible.


1. I get to CAnada open up bank account.
2. I email my bank within their emailing bank system. With the information of my new account in Canada.
3. I wait for the funds!

And my country is based on banking.

And when doing large transfers like this. It's always good to keep the transaction from your bank to show to the newer bank. Plus I'll show them my landing papers along with the customs sheet I have to provide to Canada what I am bringing into the country so it's all legal. I'll even provide them my bank info here so theres no problems.

 

[scottishmac]

Speaking from personal experience, it is possible to open an account in Canadian bank while outside Canada

Can I ask which bank this was with and how you contacted them. I have just had the run around with HSBC that claimed to offer the service for £100 charge but there were a number of hidden conditions,