One of the questions that often comes up when people are planning their move to Canada, is the thorny question of how can you open a bank account before you arrive. Over the years that I have been involved in the relocation business the answer to this has tended to get harder. Increased security measures by the banks have closed many a door.
Until recently the only option I could suggest was HSBC since it is the world’s local bank. Under this scenario you need to sign up with HSBC in your “home” country. They should be able to open a Canadian account and link it to your overseas account. You may need to qualify as a Premier or Advance Account holder to take advantage of this.
Now there’s another alternative. If you are an existing customer of Moneycorp then ask them about their arrangements for setting you up with an account with the Royal Bank of Canada (RBC). Alternatively you can sign up with Moneycorp and do the same. There is no cost to get an account and no obligation to trade.
By the way RBC is Canada’s largest bank. TD Canada Trust(TD) is the second biggest, followed by Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO) and Canadian Imperial Bank of Commerce (CIBC).