Originally Posted by
jamar
Thanks for the help!
In order:
2. A Canadian mailing address I can do. My sister's studying at UBC and when I visit I'll be staying/picking up my mail at her place (apartment, not dorm room). Also, I already noticed the lack of Visa debit cards (I know about CIBC, but they want a $4 monthly fee for a basic checking account with 10 transactions/month- not very appealing) so that's why I was asking about savings account+credit card first. I'll keep that in mind about not being able to get an unsecured card and ask about a secured card also.
All banks will charge money for chequing accounts. There are ways to waive that fee... I've never paid fees, because I keep the required minimum balance.. For a low transaction account I believe the balance requirement is around $1000. Also, Visa debit cards do not "exist" in Canada.. CIBC offers a dual Interac/VISA card, but you'll never be able to use that card as a Visa while in Canada. It must always be processed by the Interac network. I believe in the US, it works under NYCE.
Originally Posted by
jamar
The lady promoting credit cards at the branch said that they could pull up my US history and even send the card to my American address if I got approved. Is she just desperate for a commission, misinformed, or are they that American-friendly?
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They can pull up US credit history, but she was also a little misinformed. Your US credit history would help if you actually resided in Canada or had strong ties here. An American simply asking for a Canadian credit card w/ no clear ties here may not be approved so easily.... Yes they send cards to a US address, but when they started that, it was intended only for Canadian students studying abroad in the US, or workers temporarily in the USA. Bills still come to Canada.
Originally Posted by
jamar
Also, as for "all banks"- some insist on residency. Scotiabank told me they wouldn't without proof of a long-term visa, Coast Capital insisted on an SIN, and I guess I haven't tried that many others. It'd be easier if they'd take a phone bill or something as "proof of residency"- I managed to get a Rogers postpaid plan with just my American passport and CC that shows my sister's address and already have bills for that. Oh well.
Yeah some banks will refuse to open an account unless you have residency. However, they cannot require a SIN (unless your account earns interest). I'm not sure if your able to get a BC driver's licence without Canadian immigration status, but try it. That will solve all the "residency" concerns for banks.
Also - keep in mind that the "free" savings accounts have per-transaction fees that you have to pay. (50 cents I believe)