Dear Freinds ,

Before going for it...Just wanted to check Which Bank ( Indian ) is good to operate in CANADA.


HDFC or ICICI

Today i have checked with them and both said that we can withdraw money from any ATM in CANADA. ( each witdrawl will cost me 110 Indian Rupees ).

Please suggest.

Regards

Junior Desi

My advise to you is don't open account from outside canada. Bring demand draft or travellers cheques and some cash and open account with TD canada trsut or RBC or national bank of canada. TD canada has ATM in nook and corner and if you keep minimum balance of USD 5000/- all charges are waived off. You get one locker free and cheque book,statement, dd charges etc are free.

hope this helps.

-----------------------------------------------------------------
The best way to find yourself is to lose yourself in the service of others.”
Mahatma Gandhi

Please check whether they charge any monthly fee for the account or not (may be based on min balance).

The disadvantage with these banks is that they do not have wide coverage. What I mean is that they may not have many branches or atms. Paying for every withdrawal is not a good idea.

Check also whether they work outside normal office hours or not.

IMO, it is better to have an account with a bank which is having a larger branches and atm network (TD, Scotia, CIBC, RBC to give some examples).

Some of these banks have some promotions for newcomers like no fees for the first year and so on.

Just my two cents.

Cheers.

Thanks freinds...... it was very useful and i now really have decided not to open HDFC or ICICI.....
Thanks


Junior Desi

Whenever you use a Bank that is close by, it helps everyone that lives in that vicinity with all of the services that are available as close to you as you can get.

You can have a Savings Account and a Safety Deposit Box as close to you as you want. That is a great advantage, especially when there is no transportation to take you to a bank that has your money and the services that you are looking for.

Currently, President Choice- (Amicus Bank) are providing FREE chequing account and decent interest on daily interest savings account. Please see if the features are suitable and to your liking. They also provide you with Credit Cards and Debit cards also. These debit cards will permit you to withdraw cash at some of the check out counters too. So, it is a nice bank to deal with and the Parent Bank is CIBC. It facilitates you to pay your bill over the internet or over the phone also. There are no minimum balances needed. You can also avail a few dollars of Overdraft Protection to avoid the bouncing of the cheques. They only charge you if you use this feature. You can see a few of their Banking Pavilions in Loblaws Super Stores and Fortinos and a few other locations.

People who use other banks can provide you with the features of those banks to give you an idea of the services and the costs and the pros and the cons of their systems here. That will give you an idea how the banking system operates here in Canada.

Hope this helps you a little.

Freddie.

Thanks Freddie,


It is really nice to hear from you after such a long time.

Regards


Soon to be canadian Canadian Desi

Hi Freddie

I have look at the pcfinancial website. Looks great

but it seems like most of the stuffs are online.

they have any office where we can go and disscussed the different options ? ( they have sales reps ?)

i am thinking of opening bank account , as well as credi cards and mortgage account.

but i prefer to talk to someone in person before i take any further steps

-----------------------------------------------------------------
'Some goals are so worthy, it's glorious even to fail.' (Param Vir Chakra awardee Lt. Manoj Pandey)