Opening a bank account without being present in Canada


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jonav   
Member since: Apr 07
Posts: 458
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Post ID: #PID Posted on: 05-02-08 07:58:40

Hi Friends,

We are PR holders and work for a Canadian company outside Canada, is it possible to open a bank account without physically present in Canada? We checked with Royal bank of Canada and they refused, any other bank which you guys know, who will accept membership application without being present in Canada?

Thanks......................Jona



viggy   
Member since: Aug 07
Posts: 569
Location:

Post ID: #PID Posted on: 05-02-08 09:51:31

Check with PC Financial... they accept forms send in by mail. Not sure if they need a local address etc.

ICICI Bank opens for sure



cdn_dude   
Member since: Dec 05
Posts: 942
Location:

Post ID: #PID Posted on: 05-02-08 10:57:09

Quote:
Originally posted by viggy

Check with PC Financial... they accept forms send in by mail. Not sure if they need a local address etc.

ICICI Bank opens for sure



PC bank will need a cdn address. I had to close my PC account because my address changed to a non-cdn address.



jonav   
Member since: Apr 07
Posts: 458
Location:

Post ID: #PID Posted on: 05-02-08 13:28:48

Thanks Cdn dude and Viggy,

Cdn dude, do you know of any major US banks with branches in Canada? Travelling to US will be easier for us then to Canada.

Thanks................Jona



cdn_dude   
Member since: Dec 05
Posts: 942
Location:

Post ID: #PID Posted on: 05-02-08 13:39:38

Quote:
Originally posted by jonav

Thanks Cdn dude and Viggy,

Cdn dude, do you know of any major US banks with branches in Canada? Travelling to US will be easier for us then to Canada.

Thanks................Jona



Well, there are no "branches" as such, of any US bank in Canada. For example: You have ING direct and HSBC which are in US and also in Canada. But they are governed as per the law of the country where they are operated. I do not think that the cdn HSBC people will be able to see your account details that is opened in the US. But you will be able to withdraw the money using the ATM in Canada, from your account in the US.

The only advantage is, you should be able to transfer your account from US to Canada, once you move there. (I know some people who have done this).

It is just like having cdn Ford mfg in Canada. It is a "so called cdn" car, but the parent company is american.

I hope I have answered your question.





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