Seriously. I am continuously amazed at the incredibly useful information I find on various websites of the Canadian government. I've been trying to determine with which bank I should open an account. I accidentally ended up here, but then went here. I'm not saying it's perfect, but it sure gave me some nice information as a place to start.
BTW, I've heard so much about how different - and expensive - banking is in Canada. Anyone out there who wants to offer their advice is most welcome to do so! Thanks!
10 months ago
4 comments:
It really depends on what you need. I rarely ever use a teller, so PC Financial is ideal for me: no monthly fees, free cheques, unlimited banking transactions at any CIBC bank machine (there are a lot of them, including at every 7-Eleven), etc. I have in the past had accounts at Bank of Montreal, Royal Bank and CIBC. I've had bad experiences with each of them, so can't really recommend them!
The only experience we've had is with HSBC. Yes, they are more expensive than our totally free banking in the US, but they're convenient. We have set up both a US funds and Canadian funds account and it is easy to transfer between the two.
Thanks for the tip, oanababy. I hadn't realized that PC had banking. That might be a good option for us. I'll check it out.
Yes, web, one of the attractions of the big banks is the US account, etc.
Thank goodness for web (as in www, not west end bound!) research. ;-)
We use Scotia Bank because they are a sister bank to the our US Bank of America. So we didn't get any ATM fees when using our US ATM card.
They also have a US dollar account where we can hold our house sale proceeds until at least the CND and USD are equal. Then we just transfer it.
If you have a certain balance there is no fees on the Canadian Account. I don't remember the amount though.
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