The best Canadian bank for new comers??

[steaky]

I find most banks in Canada only offer Visa credit cards.

Really I thought MC. Costco, Hudson Bay, Sears, PC Financial and other stores/partners offers only Master credit cards.

 

[pie_vancouver]

RBC, CIBC, Scotia, TD, Amazon are with Visa
Capital One, PC, HSBC, Tangerine, WalmartFinancial, Rogers, Canadian Tire are with MC

I am not sure if Sears is with visa or mc, I think MC

Did I miss something? ;D

 

[steaky]

Did I miss something? ;D

Yes, Scotia also offers MC too.

https://www.chase.com/online/canada/scotiabank-mc.htm

 

[bellaluna]

Did I miss something? ;D

BMO also offers MC.

I signed with BMO because I liked their new immigrants package best...plus, they cleared my Scotiabank draft instantly when I opened my account.

 

[eggsterminate]

Isn't that an online bank, like Tangerine (formally ING Direct).

Tangerine also exists in Canada.
I would highly recommend staying away from TD. Their customer service has gone downhill over the last couple of years. I closed my TD accounts since they seemed way more interested in pushing their crap on me, instead of maintaining the existing accounts I had with them. They did start randomly charging my accounts with no prior notification, even though I akept receiving pointless high pressure cold calls and mailed letters, every other month to sell services I had no interest in. Probably, explains why more than half their profit is obtained in Canada in spite of them having far more operations in the US.

CIBC, on the other hand, was way better with customer service in my experience. I know RBC is quite good too.

 

[kamy]

Can I open bank account in Canada before landing and transfer funds which are required as proof of funds?

 

[steaky]

Can I open bank account in Canada before landing and transfer funds which are required as proof of funds?

Transfer funds and proof of funds are not the same.

 

[kamy]

Transfer funds and proof of funds are not the same.

I understand that, probably I was not clear in my sentence. Below are two separate questions to make it more clear.

1) Can I open Canadian bank account while my PR application is in process OR I have received PR but yet to land?
2) If answer to above is "Yes", then at the time of landing candidates are required to provide POF before entry, can I use this newly created account to hold all those funds and show at the time of landing.

 

[steaky]

I understand that, probably I was not clear in my sentence. Below are two separate questions to make it more clear.

1) Can I open Canadian bank account while my PR application is in process OR I have received PR but yet to land?
2) If answer to above is "Yes", then at the time of landing candidates are required to provide POF before entry, can I use this newly created account to hold all those funds and show at the time of landing.

1) Yes, you can. See the thread below:

http://www.canadavisa.com/canada-immigration-discussion-board/open-bank-account-before-pr-t448421.0.html;msg5417116#msg5417116

2) Yes, you can show bank statement of this newly created account.

 

[kamy]

1) Yes, you can. See the thread below:

http://www.canadavisa.com/canada-immigration-discussion-board/open-bank-account-before-pr-t448421.0.html;msg5417116#msg5417116

2) Yes, you can show bank statement of this newly created account.

Thank you

 

[kamy]

I was looking at the bank website for documents required for opening bank account in Canada, can you help me what these documents are

IMM 1000, IMM 5292-- As I understand from various posts these are the documents handed over at the time of landing IMM 5292 is used these days while IMM 1000 used to be there before year 2002

IMM 1442, IMM 5688-- I couldn't understand what these forms are, kindly suggest how and when they will be received

 

[steaky]

I was looking at the bank website for documents required for opening bank account in Canada, can you help me what these documents are

IMM 1000, IMM 5292-- As I understand from various posts these are the documents handed over at the time of landing IMM 5292 is used these days while IMM 1000 used to be there before year 2002

IMM 1442, IMM 5688-- I couldn't understand what these forms are, kindly suggest how and when they will be received

Which bank website requires you to have these documents?

IMM 5292 is the Confirmation of Permanent Resident document you will receive from the visa office so that you complete landing. You can google the rest to know what they are.

 

[kamy]

Which bank website requires you to have these documents?

IMM 5292 is the Confirmation of Permanent Resident document you will receive from the visa office so that you complete landing. You can google the rest to know what they are.

Scotiabank

In the meantime I researched on all these documents
IMM 1000-- Landing document before 2002
IMM 5292-- Landing document after 2002 if the application is being processed in CAIPS and FOSS
IMM 5686-- New Landing document if the application is being processed in GCMS

 

[valsanail]

I had a live chat with Scotiabank few days back. My country of residence is not on their list of countries from which you can open a b/a remotely, so I asked what is my option, they told sorry we cannot help you until you are here in Canada, so I decided to take a fresh account balance statement from my current bank 1-2 days before departure and show this as a POF at the port of entry, telling them that I am going to open an account right there after arrival and transfer my funds at that stage. I guess this is ok right?

 

[steaky]

I had a live chat with Scotiabank few days back. My country of residence is not on their list of countries from which you can open a b/a remotely, so I asked what is my option, they told sorry we cannot help you until you are here in Canada, so I decided to take a fresh account balance statement from my current bank 1-2 days before departure and show this as a POF at the port of entry, telling them that I am going to open an account right there after arrival and transfer my funds at that stage. I guess this is ok right?

Since you have HSBC b/a in home country, why don't you open a Canadian HSBC b/a remotely?