Originally Posted by
jamar
In order:
1. That's the thing I'm worried about; I'm not sure I'll be able to have C$1000 in the checking A/C every month (in which case, I'd skip RBC as well, seeing as how they need you to have an investment and CC to waive the monthly fee- dunno how I missed the minimum requirement for the GIC). I'd add myself as a joint account holder on my sister's account, but I don't know if the terms of the student account allow for that, or if they do, if both parties need to be students (well, I am, but not in Canada).
I've dealt with CIBC all my life. (over 40 year history with them). They're a good bank, and I would recommend them. Also once you end up receiving a Visa card from them, they're very generous regarding credit limit increases.
As far as I know - they also have savings accounts w/ no fees, but you may want to check the per-transaction fees.. AFAIK, they cost 50 cents a piece, not $5.
I also do business w/ Scotiabank, but truthfully, I don't recommend them. Horrible customer service... The only reason I keep em is because they gave me a good interest rate on my mortgage.
Originally Posted by
jamar
3. Didn't know about not being allowed to require the SIN for a non-interest-bearing account. Shows how much I know about Canada.
Yep, Canadian law prohibits banks/lenders/cell phone companies etc.. to require a SIN. Technically they can ask you for one if you open an interest-bearing account, but mainly they only ask for registered accounts (RRSP, RESP, RDSP, TFSA etc).
Originally Posted by
jamar
Again, thanks for the advice, though I'll have to wait for my next visit to Canada to see how it all pans out. Best case is that I get my Canadian chip card for those occasions that I need it, worst case is that they say no and I wait to see if any American issuers push out a proper Chip+PIN card (or if Wells Fargo lets me into their trial).
I think you should be able to get one.. If not a Visa credit card, you can get the new CIBC dual debit card w/ Interac and VISA.
You may want to try TD Canada Trust as well.... My youngest daughter's first C.C was thru them (CIBC declined her initially).