open bank account for non Canadian resident

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Subject: open bank account for non Canadian resident

Hi all,

could you please tell me, if I can open an account in any of Canadian Banks, ie. RBC or TD, from abroad, I am not CA resident, but do they allow saving accounts for non canadians.

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Speedoflight,


[23-11-2009,05:37]
[**.80.162.157]
Speedoflight
(in reply to: open bank account for non Canadian resident)
No you can´t. Even if you are in Canada, you need two pieces of ID, in which one is canadian ID, to open an account. Of course there is an exception to this. If you have enough funds to entice banks, they will turn a blind eye. In any other cases, they won´t and you´ll be refused on the ground that you aren´t resident.

About opening an account from oversea, unless you have half a million funds AT LEAST, you are out of luck. If you do, deutsche is they way to go.

[23-11-2009,08:23]
[***.200.150.125]
Anonymous
(in reply to: open bank account for non Canadian resident)
Come on!

While I was in Canada, as a student years ago I had the account at RBC, no problem at all

[23-11-2009,10:48]
[**.80.162.157]
Speedoflight
(in reply to: open bank account for non Canadian resident)
You certainly can open a NON-RESIDENT account. It can be savings or checking. However, your ability to us the money maybe limited if you are outside Canada. Just pick a specific branch or Main Office of the Bank in a province where you are headed, and write to their NON-Resident account Chief. They will send you the paperwork. You may have to have your ID verified by a reputed commercial bank in your area/country or by a Canadian Consul or Embassy, if one is close by, and off you go. Remember that the Bank in Canada will subtract NON-Resident tax from your interest earnings at the end of each tax year that you are not physically present in Canada. I had a non-resident account with RBC in Montreal while I worked in Africa and was not PR of Canada at that time. Good luck
[23-11-2009,11:46]
[***.202.38.153]
costs
(in reply to: open bank account for non Canadian resident)
@costs
I´m not sure if it is because of different province but they outright reject my friend´s application when she first tried to open a new account while she was on visitor visa on a ground that she wasn´t a resident. When I said "they" , I´m referring to CIBC,RBC,TD. But after she let them know and proved them that she came to canada to collect legacy left by her late Canadian uncle, they all changed their tunes. Anyway, who cares taxing on measly interest rate. It doesn´t even produce enough to hurt your pocket.

@Speedoflight
Ya I totally forget about student visa. You are right. They probably let students to open an account to make students convenient to transfer funds.

[23-11-2009,12:26]
[***.200.150.82]
Anonymous
(in reply to: open bank account for non Canadian resident)

Unless is a multi-national corporation or money laundry.

Can someone explain what is the freeking point of opening a bank account in a country where you are not even a resident of? Paying monthly fees and more fees for each transaction?

Limited deposits and withdraws?
Beyond me.

DocD

[24-11-2009,11:58]
[***.115.153.178]
DocD
(in reply to: open bank account for non Canadian resident)
it starts a credit history? I have found it useful as a joint account to send money overseas and back without fees, western union etc. One bank card in each country, 2 ATMS and presto...10 second electronic transfer, bank exchange rate and not more than a $5 transaction fee.
[24-11-2009,12:04]
[***.5.54.139]
Sharon
(in reply to: open bank account for non Canadian resident)
How can you start a credit history without a SIN? It doesn´t make any sense what so ever.

If he had one (a SIN #), it would start with a "9" which means he is a foreing national. Once he lands, it has to apply for a new number which it will start with a different number other than "9".

This is not a join account, it is a single account according to his post.

I am trying to understand some people´s mentality that´s all.

DocD

[24-11-2009,13:38]
[***.115.153.178]
DocD
(in reply to: open bank account for non Canadian resident)
SIN isn´t requirement to open a new account. They can filled whatever junk number they can think of. Once you get your account, just go ahead and apply credit card. You´ll get in no time. Simple as that.
[24-11-2009,17:21]
[**.51.252.99]
Anonymous
(in reply to: open bank account for non Canadian resident)
I opened a non-resident account with RBC in Montreal before I ever visited Canada and had monthly deposits from far away! I had to do this since in Africa Banks are unstable and unreliable and often won´t let you keep US$ or don´t pay good rates... But once I finished contract I went to the US and withdrew money from Montreal thru a US bank without ever stepping into Canada. Then I hauled my savings into Canada when I immigrated here; so there... it is easily doable.
[24-11-2009,18:47]
[***.202.38.153]
costs
open a bank account in canada or usa (in reply to: open bank account for non Canadian resident)
i m non resident of usa and canada but i want to open a bank account in usa or canada so can anybody help me for it.......
if yes ...so please send me the full details to how i can open it to my email address neilnmart@aol.com please its urgent ............

[12-11-2011,13:53]
[***.194.12.231]
pankaj