# Opening a bank account



## Neely (Jan 14, 2013)

Hi guys

What bank do you recommend to use in Canada? I'm after a savings (checking?) account to keep my money in, have a debit card to be able to withdraw money at ATMs, get a good interest rate and possibly look at a credit card as well down the line. I've read on other forums people needed a min balance (over a thousand dollars) to open some accounts. Has anyone experienced this?


----------



## Jrge (Mar 22, 2011)

Hi,


Neely said:


> Hi guys
> 
> What bank do you recommend to use in Canada? I'm after a savings (checking?) account to keep my money in, have a debit card to be able to withdraw money at ATMs, get a good interest rate and possibly look at a credit card as well down the line. I've read on other forums people needed a min balance (over a thousand dollars) to open some accounts. Has anyone experienced this?


Every single Canadian Bank is good. However, I do banking with RBC, and am extremely satisfied with their products and services. When I opened my accounts, I wasn't ask for a minimum balance. You only need to bring your passport, work permit, SIN card and a piece of letter with your address (use the same you get from Service Canada); make an appointment and you should be all sorted out in 30 minutes.

Animo
(Cheers)


----------



## Brockthebadger (May 11, 2012)

I agree that RBC is a great bank. I emailed my contact yesterday to do some money moving which I could not do on line and it was done in 20 minutes.


----------



## Joan Tack (Jan 17, 2013)

Neely said:


> Hi guys
> 
> What bank do you recommend to use in Canada? I'm after a savings (checking?) account to keep my money in, have a debit card to be able to withdraw money at ATMs, get a good interest rate and possibly look at a credit card as well down the line. I've read on other forums people needed a min balance (over a thousand dollars) to open some accounts. Has anyone experienced this?


ING chequing thrive all the way!!!


----------



## Joan Tack (Jan 17, 2013)

meant to say ING offers no fees and free debit


----------



## JimJams (Jan 11, 2010)

Scotia Bank offers free banking to new immigrants, and will give you a credit card with $500 limit, other banks require you to put a deposit for the amount of the credit card limit for up to 1 year.

I've heard ING are good as well.


----------



## RGS (Jan 24, 2011)

I personally use Presidents Choice Financial, and RBC. 

Presidents Choice Financial is not a "walk up to - bricks and mortar" type bank but most of their financial services are free (free chequing, no fee credit card, etc.) and you earn points on your PC Financial Mastercard to get free groceries. I keep an active account at RBC in case I do need a walk up bank to do something out of the ordinary, but that's rare these days in the world of internet banking/bill paying.


----------



## Camerish (May 24, 2012)

I had an RBC credit card with a limit of a couple thousand $ after being in Canada for a week or two. Showing proof of employment probably helped.

No complaints from RBC.


----------

