Bank Account for Immigrants

[Wonders]

Hello Everyone,

I was browsing through a website for best banks in CA for immigrants. Got a list as :

The top five banks in Canada are as follows:

1. Royal Bank of Canada (RBC)
2. Toronto-Dominion Bank (TD Bank)
3. Bank of Nova Scotia (Scotiabank)
4. Bank of Montreal (BMO)
5. Canadian Imperial Bank of Commerce (CIBC)

Can anyone advise which one should we go for. Also, can anyone share his/her experience (if applicable) with any of these banks.

Thanks in advance!

 

[bellaluna]

Can't recommend you anything for sure, because it will depend on your personal needs and preferences, and maybe even your location (accessibility to branches and ABMs).

Like me, I just went for BMO because they had the longest free banking (12 months) and they had a branch near my location (although all top 5 banks are). My Scotiabank draft, which I used to transfer my funds, was cleared immediately.

No real complaints about BMO, but maybe if I had to choose another one, I'd go for RBC because of the Westjet miles credit card, as I have to travel to the US every now and then.

So basically...it's very personal.

 

[Johnny Ghaddar]

Hello,

May I ask which one out of the five has the smoothest and the quickest processing for newcomer account ? I am in the process of opening my account and would appreciate your response.

Thnx

 

[Ckharry]

Hello,

May I ask which one out of the five has the smoothest and the quickest processing for newcomer account ? I am in the process of opening my account and would appreciate your response.

Thnx

Go with RBC you will get 1 year free services plus they have lots of credit card options

 

[Johnny Ghaddar]

Go with RBC you will get 1 year free services plus they have lots of credit card options

Alright. I have heard that their processing time is much longer with paper based application to be posted after attestation. I'll check if I can do this within my timeline.

Thanks