Pointers to Consider When Applying for a Non-Resident Bank Account in Canada
A US citizen can apply for a resident bank account in Canada if he/she can show a legal work permit. However, if you are a non-Canadian resident, then you can apply for a non-resident bank account instead.Most banks require non-residents to submit a photocopy of their passport, driver’s license and photo when opening an account. If you’re planning to open a bank account in Canada, here are some tips you can consider:
1. Know the bank’s rules in transferring and receiving funds. If you need to use your account for sending/receiving money to/from another country, see to it that the fees are reasonable.
2. Choose a bank that enables electronic money transfers. This gives you the flexibility and convenience to deposit funds in your account without visiting the bank facility.
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Pointers to Consider When Applying for a Non-Resident Bank Account in Canada
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Personal bankruptcy is a very serious decision. One has to carefully weigh his options and the consequences of his decisions before taking this step. Bear in mind that a record of bankruptcy will stay on your personal credit report for at least seven years.
