Proof of Funds


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desi_student   
Member since: Jun 04
Posts: 13
Location:

Post ID: #PID Posted on: 04-08-04 08:36:14

Contact this guy Harrison (address below). He send me the forms to open an account . I am also pasting some lines from his email for you.

Opening an Account With Royal Bank in Canada For Immigration Purposes .

The following are the essential requirements for opening a non?resident account, which each account applicant must complete:

Complete “Client Information” sheet, and sign on both pages (2 & 3).
The following items must be certified true copies by the Canadian Embassy or Consulate or Royal Bank unit:

·Signature Card, with name and signature;
·Copies of passport;
·Two additional pieces of identification (with English or French translation if necessary), i.e.: driver’s license, credit card, birth certificate, etc.

Please note that we cannot accept copies of identification certified by a notary.
Bank reference letter from your bank. (Stating banking history)
A copy of some correspondence received from the Canadain Embassy which states your immigration file number and the city where the file is being processed from.
A cover letter from you advising type and currency of account/s required and any other relevant information that might assist the bank in ascertaining your banking needs (can be in Canadian or US Dollars). If no letter is included or no account is specified, a Canadian funds ‘Signature Plus’ account will be opened.

Send funds only when the Canadian Embassy asks it of you or if you will not be needing access to it until you arrive in Canada, as no transactions can be performed from the account until that time.

*Ensure all required items are completed. If everything is not completed, it will result in a delay in opening the account.
* Accounts are to opened in the name(s) of immigrating applicants only, and will be held as ‘deposit only’ until the account is activated in person upon arrival. No transactions can be performed from the account until that time.

* Upon receipt of fully completed original documents, account will be opened within five business days. The account
will be opened with a $0.00 balance and you will be notified of your account information.
* If you require information to be given to a third party (such as immigration consultant or lawyer) through telephone,
fax or email, please send an original signed letter giving authorization to do so.
* Once account is opened, funds should be remitted only by wire transfer.
* When funds are remitted to the account you should notify us so that we may send a notification letter to the Canadian Embassy if you need it.

Thank you for choosing Royal Bank. We appreciate your business.


Steven J. Harrison
Personal Financial Services Representative
Immigration Accounts
RBC Royal Bank
200 Bay Street
Toronto, Ontario, M5J 2J5
tel: 416-974-7375
fax: 416-974-8129
email: steven.harrison@rbc.com
http://www.royalbank.com" rel="nofollow">LINK



erebello   
Member since: Jun 04
Posts: 91
Location: World Wide Web

Post ID: #PID Posted on: 04-08-04 09:10:33

Hmmmmm.....i guess RBC is offering better immigrant oriented services then CIBC.
Its nice to have a bank account ready before you arrive in canada.
Thanks desi_student.
ciao



ccherryl   
Member since: Jun 04
Posts: 290
Location:

Post ID: #PID Posted on: 04-08-04 10:33:03

HI Reachash,
When I said People, it did not imply u. It could have been all who have respondent. Sorry for the dealy in replying as I come on to the desi website once in a while. From the message after mine, hope your questions are answered.
Cherryl



reachash   
Member since: Dec 03
Posts: 397
Location: Mississauga

Post ID: #PID Posted on: 05-08-04 00:24:00

Hi ccherryl,

Thanks for reply. I appreciate the same. Many thanks to desi_student as well. I still do not agree with the notion that you can open a RESIDENT ACCOUNT. I can explain. I shall write in length by this SAT. Pl keep in touch.

Thanks again.

:)


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Let's help each other to grow & prosper in Canada


reachash   
Member since: Dec 03
Posts: 397
Location: Mississauga

Post ID: #PID Posted on: 18-08-04 00:18:00

Hi desi_student,

Sorry for the delay in reply, but I was busy with my exams. Your post was interesting and I was happy to know the same. However I DO NOT AGREE with the point that you are opening a RESIDENT ACCOUNT. As per your post,

--------------------------------------------------------------------
The following are the essential requirements for opening a non?resident account, which each account applicant must complete:

Complete “Client Information” sheet, and sign on both pages (2 & 3).
The following items must be certified true copies by the Canadian Embassy or Consulate or Royal Bank unit:

·Signature Card, with name and signature;
·Copies of passport;
·Two additional pieces of identification (with English or French translation if necessary), i.e.: driver’s license, credit card, birth certificate, etc.
----------------------------------------------------------------------------

The matter itself states that reqt are for opening a NON RESIDENT A/C.
Moreover you have to submit certified true copies.
That according to me is a sheer WASTE of your time and money. Why I say money ????? Reasons: I do not know if the Canadian Embassy or Consulate or Royal Bank unit will chg you anything for certification of reqd docs. Even if we assume that they DO NOT, you still have to forward the same to Royal Bank Canada.

Plus upon arrival, you have to activate the same by visiting one of the branches. Well if you have to do so, why would you like to go thru the botheration of so much of paper work. Even if you didn't open a bank a/c like that, landed in Canada, and on the next day, visited any branch, of any bank, you can open your a/c, only with passport and landing papers. Oh my God !!!! why would anyone wnat to go thru the JAFFA of getting docs certified ???????????????????????????????????????????????? and that too for opening a NON RESIDENT A/C.

Moreover, as per your post, "Once account is opened, funds should be remitted only by wire transfer". Wow, another expenditure. Has anyone thought abt wire transfer fees ??????????????????????????? If you encash your TCs, there are no fees for that. And you can buy commission free TCs from Thomas Cook, pl check http://www.thomascook.co.in/tc/user/forex/forextravcheques.jsp?jsessionid=2114051092802152609

So I guess, this is just an EYE WASH !!!!

Opening a bank a/c is such a simple process. Even if you didn't open a RBC bank a/c from your country of residence, came to Canada and visited one of the branches of RBC, they would still open your a/c. !!!!!! :D

Pl correct me, if you can justify all the formalities and exps for opening a a simple bank a/c.

Regards

:)

Friends, pl consider all the points before opening a bank a/c like this.


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Let's help each other to grow & prosper in Canada


reachash   
Member since: Dec 03
Posts: 397
Location: Mississauga

Post ID: #PID Posted on: 18-08-04 00:21:13

Quote:
Orginally posted by erebello

Hmmmmm.....i guess RBC is offering better immigrant oriented services then CIBC.
Its nice to have a bank account ready before you arrive in canada.
Thanks desi_student.
ciao



Hmmmmmmmmmm.........I guess you may change your OPINION after reading my latest post on this thread !!!!!!! :)
If you still do not agree, then no offense, but that is your perspective. All the best.

chow !!!!!!

:)


-----------------------------------------------------------------
Let's help each other to grow & prosper in Canada


reachash   
Member since: Dec 03
Posts: 397
Location: Mississauga

Post ID: #PID Posted on: 18-08-04 00:27:03

Quote:
Orginally posted by ccherryl

HI Reachash,
When I said People, it did not imply u. It could have been all who have respondent. Sorry for the dealy in replying as I come on to the desi website once in a while. From the message after mine, hope your questions are answered.
Cherryl



Hi ccherryl,

I guess my Qs were not answered at all. the answers were to open a NON RESIDENT a/c. I hope after reading my post, you have the answers to my points.

Anyways, my intention is to just help each other. And in my honest opinion, a prospective immigrant is so very much tied up in other formalities, that going thru these formalities is of no need at all. Let me know your opinion.

Regards

:)


-----------------------------------------------------------------
Let's help each other to grow & prosper in Canada




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