question about bank accounts

[WeeHippieElf]

do we need to wait for the PR card to be able to open a bank account, or is the COPR enough evidence?

 

[mikeymyke]

COPR should be enough, as my wife was able to open an account and get a credit card with just a COPR.

 

[WeeHippieElf]

thanks!

 

[CDNPR2014]

COPR should be enough, as my wife was able to open an account and get a credit card with just a COPR.

how was your wife able to get a credit card as a newcomer with no credit? was it secured or are you referring to a bank card?

 

[alok4best]

how was your wife able to get a credit card as a newcomer with no credit? was it secured or are you referring to a bank card?

Most banks give credit card to newcomers. Even my wife and I got bank accounts and credit cards the very next day after landing.
However, initially the credit limit will be low. We got 1000$ each. The limit can later be increased after you accumulate some credit history.

 

[CDNPR2014]

Most banks give credit card to newcomers. Even my wife and I got bank accounts and credit cards the very next day after landing.
However, initially the credit limit will be low. We got 1000$ each. The limit can later be increased after you accumulate some credit history.

this must be bank specific, or perhaps one of you is a canadian citizen with credit history and it's a shared account? in my experience with my bank i am not eligible for a credit card due to lack of credit. even having my name on our mortgage for the past 6 mo. has done nothing to build my credit. it seems my *only* option is to get a secured credit card.

 

[Ponga]

this must be bank specific, or perhaps one of you is a canadian citizen with credit history and it's a shared account? in my experience with my bank i am not eligible for a credit card due to lack of credit. even having my name on our mortgage for the past 6 mo. has done nothing to build my credit. it seems my *only* option is to get a secured credit card.

It looks like neither one was a Canadian citizen (Federal Skilled Worker [FSW] and spouse).

 

[km9203]

this must be bank specific, or perhaps one of you is a canadian citizen with credit history and it's a shared account? in my experience with my bank i am not eligible for a credit card due to lack of credit. even having my name on our mortgage for the past 6 mo. has done nothing to build my credit. it seems my *only* option is to get a secured credit card.

I got a joint account with other half when I first arrived. Then got my own account and credit card when I started working. This was through CIBC who were really helpful. (All of this without PR, just with application in).

 

[nmclean]

Most banks list CIC documents IMM1442 or IMM5292 as acceptable identification.

Example: https://www.rbcroyalbank.com/onlinebanking/bankingusertips/currentid.html

IMM1442 is a visitor record, and IMM5292 is COPR. So it will be no problem to open a bank account. Getting credit on the other hand can be difficult without a SIN.

 

[CDNPR2014]

I got a joint account with other half when I first arrived. Then got my own account and credit card when I started working. This was through CIBC who were really helpful. (All of this without PR, just with application in).

and this credit card is a separate card from your bank account? meaning it's not a visa/mastercard that is really a debit card from your bank account? it's an actual credit card with separate credit line? interesting...

 

[km9203]

and this credit card is a separate card from your bank account? meaning it's not a visa/mastercard that is really a debit card from your bank account? it's an actual credit card with separate credit line? interesting...

Yeah, a proper credit card. It may be because my other half has a premium account and I was added to his account as joint at first and no problems.

 

[CDNPR2014]

Yeah, a proper credit card. It may be because my other half has a premium account and I was added to his account as joint at first and no problems.

yes, that is probably why. if a pr is connected to an account with a resident with history with the bank, then i think the credit card is issued based on that person's credit, not the pr. At least this is my experience. i have yet to hear of a pr who has gone to a bank alone with no history in canada and be approved for a credit card, unless it is secured.

 

[km9203]

yes, that is probably why. if a pr is connected to an account with a resident with history with the bank, then i think the credit card is issued based on that person's credit, not the pr. At least this is my experience. i have yet to hear of a pr who has gone to a bank alone with no history in canada and be approved for a credit card, unless it is secured.

Probably. When I went to get added to the joint account they said they don't really give accounts to people with no PR but they do those from the UK. In fact, the bank advisor who I see all the time was very encouraging with me to get a credit card as he knows it's needed to pay for a lot of things. For example, I can only pay for my gym with a credit card which being from the UK (where not everyone has a credit card) blows my mind.

 

[CDNPR2014]

For example, I can only pay for my gym with a credit card which being from the UK (where not everyone has a credit card) blows my mind.

strange that you can't use your debit card for that?

 

[km9203]

strange that you can't use your debit card for that?

I know, sucks! As would rather not pay it on credit. Back home would just set up direct debit, but here they only take auto monthly payments via credit card