Peter

The best bank for new immigrants, in Vancouver area!?

Can someone suggest a bank that offers a best product (e.g. no fees account
and banking etc.) in Vancouver, BC?

Thanks for any input

Peter

Andrew Miller

Good luck with no fees banking in Canada... :-)

For best deal you need to shop around - check with credit unions first.

Vladimir Menkov

In article <5FNBb.647997$pl3.477492@pd7tw3no>, Peter <> wrote:
    >The best bank for new immigrants, in Vancouver area!?
    >Can someone suggest a bank that offers a best product (e.g. no fees account
    >and banking etc.) in Vancouver, BC?

http://www.pcfinancial.ca
http://www.citizensbank.com
http://www.unitedsavings.com
http://www.ingdirect.ca (savings accts only, no checking)

The first two may require credit history etc. before you can open an
account with them, which may be a problem for a new migrant, but the
other two don't, as far as I know.

--vld.

S B

Peter wrote:
    >
    > The best bank for new immigrants, in Vancouver area!?
    >
    > Can someone suggest a bank that offers a best product (e.g. no fees account
    > and banking etc.) in Vancouver, BC?
    >
    > Thanks for any input
    >
    > Peter

If you can keep a minimum $1000 in the account, CIBC has a waive the
fees account. Some of the banks don't even offer that. Considering the
monthly interest on $1000 is under a dollar these days, that's not too
bad a return to save over $20 in fees per month!

Vladimir Menkov

In article <br8cvc$sgh$>,
Vladimir Menkov <> wrote:
    >http://www.pcfinancial.ca
    >http://www.citizensbank.co

oops. that was meant to be
http://www.citizensbank.ca

    >http://www.unitedsavings.com
    >http://www.ingdirect.ca (savings accts only, no checking)
    >The first two may require credit history etc. before you can open an
    >account with them, which may be a problem for a new migrant, but the
    >other two don't, as far as I know.
    > --vld.

Anthony

What is the bank with largest ATM network across Canada?
One comparable bank in the USA is Bank of America.


"Peter" <> wrote in message
news:5FNBb.647997$pl3.477492@pd7tw3no...
    > The best bank for new immigrants, in Vancouver area!?
    > Can someone suggest a bank that offers a best product (e.g. no fees
account
    > and banking etc.) in Vancouver, BC?
    > Thanks for any input
    > Peter

Iaink

Originally posted by S B

    > Considering the

    > monthly interest on $1000 is under a dollar these days, that's not too

    > bad a return to save over $20 in fees per month!



This is how the banks want you to think. If you didnt have to keep
this in the account to avoid the fees you could use that $1000 to pay
off some of your mortgage principle, or wipe out a credit card
balance, and then it saves you a lot more in the long run than it ever
would earn in interest.



In the case of a 6% 20 year 100k mortgage, 1k off the principle at the
start saves you $2.2k over the 20 years, or after 10 years 1k off the
priciple saves you $800, so you can see why the banks want you to keep
the $1000 in the chequing account!



I still dont see how canadian banks justify their fees when the UK and
other parts of the world have had free banking for so long.



Sorry, its a pet peeve...I'll get of the soap box now before I slip and
hurt myself!



Iain

Nick B.

RBC and TD Canada Trust have the largest ATM networks in Canada.

"Anthony" <> wrote in message
news:...
    > What is the bank with largest ATM network across Canada?
    > One comparable bank in the USA is Bank of America.
    > "Peter" <> wrote in message
    > news:5FNBb.647997$pl3.477492@pd7tw3no...
    > > The best bank for new immigrants, in Vancouver area!?
    > >
    > > Can someone suggest a bank that offers a best product (e.g. no fees
    > account
    > > and banking etc.) in Vancouver, BC?
    > >
    > > Thanks for any input
    > >
    > > Peter
    > >
    > >

John D

I'm just wondering, does anyone know why Canadian banks don't offer Visa or
Mastercard debit cards like in the U.S?

I know Canadian are the most frequent users of debit cards, those ATM here
in Canada suit this purpose, but Interac cards are useless to buy online or
anywhere the Visa or MC logo is displayed.

The introduction of this Cards in Canada would be very convenient(more
revenue for the bank with online purchases), I contacted Visa and they told
me that they need feedback from customers and financial institutions to
start a service like this in Canada.

The problem is that we have a monopoly from Interac, the Interac system is
pretty old, Visa debit cards are being implemented everywhere, the problem
is that a person like me (new to the country) is almost imposible to qualify
for a regular credit card, so the Visa debit card are convenient for people
that doesn't qualify for some reasons but are hungry to make purchases
online or anywhere the ViSA or MC logo is displayed.

I know Canadians would be more than happy if we had a service like this.


John



"Anthony" <> wrote in message
news:...
    > What is the bank with largest ATM network across Canada?
    > One comparable bank in the USA is Bank of America.
    > "Peter" <> wrote in message
    > news:5FNBb.647997$pl3.477492@pd7tw3no...
    > > The best bank for new immigrants, in Vancouver area!?
    > >
    > > Can someone suggest a bank that offers a best product (e.g. no fees
    > account
    > > and banking etc.) in Vancouver, BC?
    > >
    > > Thanks for any input
    > >
    > > Peter
    > >
    > >

Havey

You might want to use a financial advisor to help you out, check out
www.tcirc.ca directory of financial advisors to find one in
Vancouver. It wouldn't hurt to contact one of them and ask them for
advice, they will be happy to point you in the right direction for free.



Originally posted by Peter

    > The best bank for new immigrants, in Vancouver area!?


    > Can someone suggest a bank that offers a best product (e.g. no
    > fees account

    > and banking etc.) in Vancouver, BC?


    > Thanks for any input


Peter