Posted on: 15-10-11 10:45:21
a)Is it mandatory to open a new bank account initially on landing the 1st time ?
b)Has this account to be in CAD$ only, can it be in US$ ?
c)Can a bank account be opened later when an immigrant permanently moves to Canada to settle down?
1. Not mandatory , but having a credit card from day 1 (can get from same bank) and swiped once or twice will help in building up the credit history well in advance. Initially you get cards with less credit limit, only after few yrs of spending the credit limit increases. Time counts !
It also depends how are you bringing proof of funds ? if through bank draft you need to present it in some bank or are you planning to take that back ?
You can initiate bank acct opening from India also . Scotia bank has tie up with HDFC. There is scotia bank branch in Delhi , Cannaught place. If you avail that opportunity, you will get your debit and credit card on your first visit to bank when you land.
2. prefer CAD.
3. Yes, definitely yes.
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Originally posted by KODIAL
a)Is it mandatory to open a new bank account initially on landing the 1st time ?
-- No. In fact, open a bank account ONLY after you come back to settle permanently.
Quote:
b)Has this account to be in CAD$ only, can it be in US$ ?
-- Any.
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c)Can a bank account be opened later when an immigrant permanently moves to Canada to settle down?
-- See #1.
