Study abroad in Canada | new students to study abroad in Canada how to deal with the bank card?
Although many domestic Banks can handle the international credit card, debit card, can meet the daily needs, after the students had just arrived in Canada but domestic international card use in Canada would produce the high fees, it is very not cost-effective, so a lot of professionals suggest that students who study in Canada is best to deal with a local bank card as soon as possible.How do I get a bank card?First of all, let’s take a look at the debit card.The five largest banks in Canada are TD Bank,RBC Bank,CIBC Bank, Bank of Montreal and Scotia Bank.Among them, Montreal, RBC and Scotia have cooperative relations with many domestic banks, and also set up many relevant projects suitable for Chinese students. Therefore, most Chinese students choose these three banks most when they apply for bank cards.After you decide which bank you want to choose, you usually need to use your visa, personal valid passport, current address, contact information, etc., and offer admission notice for student account.The most suitable for international students are checking accounts, which are divided into savings accounts and checking accounts.The regular savings account is for students’ daily needs. The money in the account can be withdrawn or deposited at any time without interest.For students, there are many benefits to open a student account. Take TD Bank for example, it has a lower limit of deposit amount. Generally, as long as the deposit amount is less than 1500 DOLLARS, it will charge a certain amount of account fee.Second, credit cards.For students going to Canada to study, it is very important and convenient to get a local credit card. If you plan to stay in Canada for a long time, it is best to get a credit card as soon as possible to accumulate a credit record.As it stands, there are three major credit cards in Canada, Visa,Master and Amex Express. Most people use Visa because many merchants recognize it.When applying for a card, students usually need to prepare their personal valid passport or student ID card. Some banks may even refer to the date of student’s study permit. For example, RBC and Scotia require that the remaining period of study permit should be more than one year.So there are no strict requirements for student visas.It is important to note that credit CARDS will be annual fee, but many Banks have also launched a credit card integral cashback policy, encourage the use of credit CARDS, as currently envisaged, would be about $99 annual fee, most of the gas station or a grocery store and consumption rate of return is about 4%, in particular store consumption but abdominal distension and even 2% cash back in return.How does Canada study abroad use bank card to collect poundage?In fact, every bank has its own charging standards, and different package charging standards are not the same, as far as the current situation, mainly including monthly fees and withdrawal fees, international transfer fees these three types.First of all, many banks in Canada transfer money every month is a fixed amount, including deposit, withdrawal and payment, as long as more than a certain limit each time to charge about a DOLLAR transfer fee, but also some accounts do not have a monthly transfer amount limit, but such bank cards will generally charge higher management fees every month.As for the withdrawal commission, the same bank generally does not charge for withdrawing money, but it will charge about $1.50 each time if you change banks.Last, the international money transfer fees, Canada’s most Banks have so-called free transfer service, on the surface seems to transfer does not need to spend money, but in fact everyone in remittance or collection to pay higher fees, one of the key point is the exchange rate, bank to students usually lower than the real exchange rate,So the transfer costs more than the service fee.When does Canada study abroad do bank card better?You can apply through the network in China and open an account remotely, or you can go to a bank in Canada immediately after arriving in Canada.If the students choose to apply online in China, generally only a few days, the bank will take the initiative to contact the students;Of course, Canada a lot of banks also set up office in home, wait for a place such as Beijing Shanghai for instance, so everybody also can go to domestic office to deal with, will tell to open an account ahead of schedule commonly is more convenient, because this everybody can wait until exchange rate is advantageous when undertake turn accounts again.Is there any annual fee for student account and no handling fee for inter-bank withdrawal?International students should pay attention to whether there is no annual fee when they apply for bank cards.Most banks have a minimum amount of Checking. For deposits less than 1500 DOLLARS, a management fee of 3.95 dollars will be charged. However, there is no such problem for student accounts.Students need to confirm this question when opening an account.Ordinary cards are free to use at atMs of our bank system, which is consistent with that in China.If you use another bank’s ATM, you have to charge a fee. That’s why convenience is the first principle when choosing a bank.Bank card sets day spend limit mostly, be not you want to take how many take how many oh, TD and RBC are a day limit draw money 1000 knife.For deposit, I suggest you go to the bank counter deposit.Because the amount of money deposited in ATM in Canada can not be used immediately, it has to wait several working days, and the money deposited at the counter can be used immediately, which is different from that in China.It also takes several business days for the money deposited in the check to be used because the bank needs to verify the face value of the check.If you want to know more about studying abroad and exam training information, please scan the code and follow the public account.