Opening bank account BEFORE moving to Canada

[jpv2212]

Does anyone know the procedure for opening a bank account before moving to Canada from home-country?

I have heard that Scotiabank offers such a Startright account for new immigrants.

Any details on this topic?

Thanks

 

[sara.parveen26]

I work at CIBC and even CIBC offers a good package for new immigrants. But you cannot open an account with being physically present in Canada and providing valid identification because of Anti-Money Laundering regulations.

You can open an account online though on bank's website/ mobile app but the account will be restricted with no activity allowed until you visit a branch and validate yourself.

Hope it helps.

 

[jpv2212]

Thanks parveen.

Yes, Scotiabank also states that while u can open an account before moving to Canada, the account will only be ACTIVE once you land in Canada and go to the bank in-person.

Could you please send me the link for useful info about that bank account options?

 

[sara.parveen26]

Here is the link for the new account offers at CIBC:

https://www.cibc.com/en/personal-banking/bank-accounts/newcomers-banking-offers.html

https://www.cibc.com/en/personal-banking/advice-centre/new-to-canada.html

You can also get credit card and related products setup as new immigrant as well which is helpful to help you start establishing your credit.

 

[tonykaram123]

HSBC premier offers this service.

 

[jpv2212]

Thanks for your replies friends.

 

[can_indian]

When I went to Canada for the first time in 2011, I didn't want to carry CAD$ 5k in my pocket, so a friend of mine helped me get a forex card from HDFC bank in India. I carried around $500 in my pocket and a Forex Card with $4.5k in it. I was being charged $2 per transaction in Canada. But I was able to use it everywhere in Canada. I had $500 in my pocket which I used initially and meanwhile I had opened account there with TD bank. I used my Forex card at the ATM nearby, cash out all the money in 4 transactions from it and deposited in TD Bank account.

Total expense of Forex card for me was,
Rs. 500 to get one,
CA$ 10 for the 5 transactions I had made.

My father also recharged it once from India and credited $1000 in it after 8 months. I swiped it at ATM in Canada and withdrew all of it in one transaction.

Hope this helps.

 

[jpv2212]

When I went to Canada for the first time in 2011, I didn't want to carry CAD$ 5k in my pocket, so a friend of mine helped me get a forex card from HDFC bank in India. I carried around $500 in my pocket and a Forex Card with $4.5k in it. I was being charged $2 per transaction in Canada. But I was able to use it everywhere in Canada. I had $500 in my pocket which I used initially and meanwhile I had opened account there with TD bank. I used my Forex card at the ATM nearby, cash out all the money in 4 transactions from it and deposited in TD Bank account.

Total expense of Forex card for me was,
Rs. 500 to get one,
CA$ 10 for the 5 transactions I had made.

My father also recharged it once from India and credited $1000 in it after 8 months. I swiped it at ATM in Canada and withdrew all of it in one transaction.

Hope this helps.

That's quite an easy way friend.

Thanks for the post.

Gave +1 to you. NJoy

 

[mgnlky]

RBC allowed me to open up an account without being in Canada. It was "deposit only" until I physically went in and activated it.