10 Things That Will Shock You About Canada Banks | Canada Couple
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- čas přidán 6. 10. 2020
- This video is about some differences that we found about Canada Banks and Indian banking system. There are few pros and cons of this system. Let us know which one you found to be very different from your home country. Do like and comment if you like the video.
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What was shocking for you?
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Very useful information Bro. 💕💕👍🙏
Hi
Plz mojh say raba kren 03368661923
Very informative Harmeeet 🙏. Thank you very much for this wonderful video 🙏☺️
@Dipen Das Yes. Because unlike India, Canada is a very low inflation economy. Hence the low rate of interest. In India, banks used to offer very attractive rates of interest earlier because economy was conservative and GOI wanted to encourage people to save more. However, over a period of time, savings interest rates were slashed with most banks offering a mere 4% savings account interest. GOI's focus changed from conservative to spending economy wherein they want you to spend more than save as they want people to invest in economy directly be spending. However, the worse part in India is that inflation does not get controlled. So the poor man who was habituated to savings account is in worse state than before. Canada is also a spending economy but a low inflation one. Government over here wants people to invest in market directly through spending, stock market etc. rather than routing that money into market through savings accounts and industrial loans.
Hallelujah!!!! The daily Jesus devotional has been a huge part of my transformation, God is goodes LS, after years of addiction to drugs and sins God chased me down as I earn $112,500 monthly. My life and family has changed, Thank you Jesus!!!..
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down of myself because of low finance but I still believe in God
It's a great idea to have a conversation with financial advisors like Naomi Dean to reshape your portfolio.
I spread out my $25k portfolio across various markets to diversify my investments.
That woman is a genius
So you guys know her? Her Success story is everywhere
There is no need to go to the Bank or to an ATM to deposits the cheques, you can take a picture and upload the image from your mobile and money is immediately credited to your account
Nice
lol. 😂 that's funny as well as easy. I find Canada is having smooth customer services. it feels good. and things are super quick.
You don’t get it do you there will be no cheques or cash, it will all be digital
What I like most abt Canada Couple is their narration style, simple and very articulate. Even the complex topics they describe in so simple way which makes their clips so watchable
True that
Hats of to you For putting so much efforts to explain the process. Indeed this is really helpful and much needed for new immigrants 😎
These CZcams videos is what will pay off your credit card bills! Great collaborative sponsorships! And amazing content as usual!
Such an informative video. I really wish we could have had this information when we landed. Did all these mistakes and were charged by the bank, it was so shocking. You guys are sooo Good. Awesome content. 💓 Thank you guys 😇
In india, UPI is skilling all other payment method.
Super easy. Super convenient
After living here almost 5 year I would say keeping 50/60 bucks cash is more than enough. 2 Credit cards is must. Visa and MasterCard preferably. Always use the mobile app and link your all cards. Incase you lost or misplaced the cards you can block it in a second through your app. Once you found it you can unblock it again. I love this app feature. E transfer with just email address is awesome for sure. Lastly, tapping the card is way better than insert and slide, which I didn't find in India.
Thank you for putting in great efforts and sharing with all of us banking knowledge in Canada. I enjoy the content created on your channel.
Please make a video on how to improve credit score. I guess there is a difference between credit history and credit score. I have heard that using credit card beyond a limit spoils your credit score. Many people have this in mind that the more they swipe their credit card, the better their credit score is. I would love to hear your opinion on it as there exist contradictory opinions.
May your channel grow to new heights. Lots of good health and happiness to you and your loved ones always.
Some of the important safety features in Indian banking system which I miss in Canada. A credit card transaction in India goes through MFA (multi-factor authentication) which is not the practice in Canada. Any credit and debit card transactions in India generate a SMS which is not the practice in Canada.
Very informative video. I believe no one has made any video on how banking system works in canada . Hats off !! Guys!! God bless you both 💗
Very informative...rather than talking about which coloured vase to buy and the same old condo tour..u guys deliver quality information...thank you for the efforts 👍🏼👍🏼
You did really well job to bring this most important info video about banks over there.
This is exceptionally well articulated 👍
Content was indeed helpful..!
You guys r doing amazing job..✋🏻
Such a great information. Nobody was there to help us during our time. Keep up the good work guys.
Can you please make video on appliances, will really be a great help in buying ,as we will be moving in our house soon. Thanks
Few more points related
- there is no bank charges if u r student n have student account
- there is no bank charges if u balance is more than some amount. Eg in my case its 4000. If i have more than 4000, there is no charge.
- if u use credit card n couldnt pay it back, there are interest charges.
Ye toh har jagah hi hai india mein bhi
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That's $4000 blocked. Just to avoid fees? Does not make sense. $4000 in a tfsa, invested on a dividend stock or etf or mutual fund, would probably grow more than you would save on fees. Talk to a certified advisor for opinions and make your own decisions.
Well done! Very informative video. 👍🏻
Fantastic video. Great information provided !!! Thanks Guys
Superb. Informative. Thank You.
Banks and their daily Business Practices seems very different and surprising ..! Nice information 👍
Thank you sir,
Your videos are very Informative....😊🙏🏼
Awesome videos. Can you do one on mobile service companies, plans and devices like a comparison. Also for ISPs.
So much good information thnx canada couple . :-) one point would like to add is about the long frustrating line ups in india in banks and how the area gets crowded as line ups done clear quickly
So so very helpful!!!
Usefull and informational video 👍
Thank you so much video is so helpful for new comers and international students
in India, 1st cheque book is free and 2nd cheque book is chargeable (especially in the private banks) and here per cheque leaf cost 5rs which most of the people don't know
That is true. Also, most banks including nationalized ones charge debit card fees.
Really good video with lots of great info. Thanks for sharing
U explain so well.
Wow 🤩bro
This video is informative
Great job
God bless you
Very informative very nice.👌
Great 👌 Knowledge sharing video 👍👍👍👍👍 Super Paajiii 🙏❤️
Very informative video.
Thx
this was very helpful 🖤
Superb information brother thank you so much
Very useful info for new comer to Canada.
Very helpful information thank you so much
Really helpful thank you 🙏🏽
Very informative...thanks
Aah, very nice. These are some of my main questions about banking in every country, mostly the big country that has big currency. It can cause major problem with our INR currency. India me hota hai to aaram se solve ho jata hai. Outside of india is worse to happen with any person. Even for the wealthy people.
Very useful video!!
Hello Canada Couple. I have been following you guys for so long and love the ott suggestions you couple provide. Thus I am requesting you to please make a video on home insurance for first time home buyers and what traps to avoid etc.Thanking you in advance.👍🏼
Hi pallu
really good info sir thankyoufor sharing
Very nice video although I feel its not only BMO, who offers welcome packages for banking products. All 5 major banks have some sort of programs for immigrants (new to Canada). I know for sure scotiabank offers start right programs for foreign workers, permanent residents and international students. You just have to ask right questions to the bank representative who is assigned to you. There are many different ways to get free banking.
Nice such an informative video thank you so much 😊
Super information 👍👍👍 many thanks bro
Good information 😊❤️🙏🏻
Very very good n important information given by you sir.thank you very much sir.
Checking account and saving account Good to know 👌🏼
WOW! nice video!!
Very informative video thanku🤟🤟🤟
Thank you bro for informing about credit card I’ll take today BMO
It was really helpful veer ji. And much needed. Also I would like to suggest you to make one video about what are options for investments there in Canada in order to save money. Like we do in India mutual funds policy n fd etc.
Amazing... thanks a lot for the valuable information. It'll really help a lot to the new immigrants as well as the students. Hoping to meet you soon.. and to potato talkies couple's.
1 Question.. If someone is using a credit card & paying through CRED app on time & have a good credit score in India. Does that help in Canada with the same credit score.
Very informative.....
Very informative,👍
Excellent!!
Best !!!
Will you please make a video about Healthcare facility !!!
Hi we watched your many videos and its really great to know about Canada through you. It is really going to help us to start the process for PR. Can you please share some information about Banking jobs in Canada, or may be can guide us with some consultants for Banking jobs with Banking experiences.
In india you just need mobile number to transfer money and its doesn't require 2 to 3 hour it's just on click.
In india is also there is single window operation concept but we don't know about it
Amazing Information! Please make a video on how to manage Taxes and save money in Canada. And what all ways can there be to do savings! 😍
sure
Good information shared
Hi Harmeet, Thank you so much brother, for a very well articulated & clearly informative presentation. Can you please help me in clarifying a few banking aspects. Firstly, how would you rate BMO versus Scotia Bank for new comers to Canada. Secondly, you must be aware about the latest Tax Collectible at Source (TCS) introduced in the Indian Budget in 2020, wherein any foreign remittance of 7 Lakhs or more, is taxable @ 5%. NRIs are exempted of this tax. However, if someone (COPR holder) has to wire their money in an international acct in a Canadian Bank before flying out to Canada, is such person also exempted / subjected to such TCS as he would be considered as an NRI only once they land. Lastly, what are the charges for wiring money at both ends. Will be grateful for your help🙏 Thank you 🙏🙂
Excellent video 👍👍
Very helpful 👍
Thanks for sharing 👍
Hello! I apologize for being all over the places. here is my question concerning this topic, I know that you will be questionned if you carry more than 10 000$ cash at the immigration at the airport. SO, what are the ways to transfer the money that we will carry to Canada including the Money in the proof of fund. Can we open a Canadian bank account virtually and ask our local bank to transfert the money to that new account in Canada? also when if that option exist when should be open that account? I guess the best move would be once we get the COPR right? thank you so much for everything. You guys are such a wonderful couple.
Very informative 👌👏👍💵
5.11 bro we use UPI in India its work with phone number also
Very informative video..👍
Could you also give some information about the usage of credit card points please 🙏
Canada couple, you can negotiate with the bank to get your debit card or ATM charges waived off if you have a salary account with them. Even if you are working as a contractor and bring in money in to a business account regularly, you can negotiate with them to get such charges waived off. There are no money transfer charges here unlike NEFT or RTGS in India. Also, here you can transfer money using email address. In India, they have a similar concept of vpa. You only need to share your VPA with someone who has to send you money rather than sharing your account details. Indian an Canadian banks are mostly similar with some minor differences. In India also, banks look at credit scores through CIBIL when extending you home loan or other loans and it also needs a credit card and good credit habits to build up a credit score just like Canada.
Cheques in india too are chargeable...inSBI FIRST 25 chqeues after free .later per leaf bank charges for the same...though the charges are minimal...
I have a question about credit cards and banks in Canada. In my country, with my bank, if I purchase something with my credit card over a sum, lets say 300 dollars, the bank will allow my to split the payment in 3 equal monthly payments with 0% interest, absolutely no extra charge. For some retailers they even have 6 - 12 monthly payments without extra charge. Have you ever heard of such benefits with Canadian banks?
does CIBC provide safety boxes for jewelry and how can we take and put it back after wearing it at an event?
Wishing U a very very happy Birthday bro..
Very informative video
Bro we r waiting for ur next video on #1. How to improve credit history ?
#2. If U fail in paying ur credit card or bank loan then what will be punishment, jail or fine ?
#3. How much we can get maximum loans & credit cards from bank ?
#4. What about child future saving investment plans in canada ?
#5. Our old age retirement saving plans & what are profit returns ? For example, if we deposit 1000 $ / month for 100 months or 150 months then how much profit we will get ,?
Thanks bro, Love & respect for both of u guys🌹👏🌹👏
regardin #2 it is neither. if it is secured loan (say for car or house) they will just take away your car or house. You don't own these things until they are fully paid off. The bank owns them. Otherwise if its credit card debt you will just ruin your credit rating by not paying and they will keep calling you to pay and thats it. When you try to apply for card or loan in future you will be denied.
Dear Sir/Madam, Do you advise to join 2 different banks? For example RBC & BMO? And how will it affect my credit history if you have a VISA ar RBC and Mastercard at BMO for example? I was thinking that one Bank account at RBC for myself and one for my wife (BMO). Please advise? Thanks and keep up with the good work
Sir what is the duration to pay the bill as Compare to India like here I'm used to spend from credit card within 1st week of very month and pay it on 15th of next month...
Very informative
Very good content
Hi,
Thanks for making such informative video.... So, when u mention that debit cards are given by the bank. I was under the impression through other information that banks prefer to provide immigrants with credit card in the name of increasing credit score and as people have a tendency to spend more.
Is that true? Like should a new comer go for debit / credit card?
I like it 👌🏻
HI, can you please tell where did you get your coat from and what brand is that ? It looks very nice and I want to buy the same.
I was about ask same lol
Wow in UK - you can get zero charge accounts still! and no charge for withdrawing money from any bank ATM, not used my cheque book like ever! so that is surprising. Oh yes two credit cards is a must for good credit history, overdraft limits also can help with the credit score. MasterCard is not very popular here, mostly it is VISA but really both work just fine everywhere. Wow so much of a difference
you can get zero charge accounts here as well. I have never paid for banking. They must not be familair with them.
I liked your jacket 🧥 bro👍🏻
Please create a video on how can we increase credit score as you mentioned. Thanks for your help. 👍
sure
Bhai yaha bhi 2 saal se india me bi UPI id , jo email jesa hota hai, wo maang ke hmlog transfer kr re ab. This happened recent in 1-2 years.
I think you were incorrectly informed about having two credit cards.Your loan application might have got rejected because you might be running of your monthly eligibility limit for credit if that loan was extended. Having a second credit card might have helped but a better option could have been to negotiate with the bank and get the credit limit extended on the first card itself. Otherwise having another credit card reduces your credit eligibility as your credit limit on each card adds up against your monthly eligibility limit if you go for a home loan etc.
Do we have , online digital payment platforms, like in India Gpay, phone pe , WhatsApp pay, anything over there like that ?
Very nice video 👍. I’ll tell you the 11th shocking experience. You visit Brampton or Mississauga branch of SBI Canada and you will get the same feeling of entering SBI in India 🤪🤪
lol
Amazing information very insightful hope it helped some1, but im not sure if your experience in India was bad but a lot has changed in India and some points you mentiined are not always practised in India (im nt discouraging anybody here) :
1.Online transaction is preliminary in India , with UPI payments , token cards for travelling , it is fairly easy to roam without cash.
2. Except Govt banks , Indian Private banks have very good service and there is no line whatsover I found.
3. People are now very aware of where to invest and how to get best out of investments. Gone are days of keeping piles of cash in savings account.
4. Credit cards are now as valuable as any card used for transactions. People do keep check of credit scores and keep multiple credit cards.
5. India has moved to cashless transactions very rapidly and use of cash is permitted. One eg is Indian railways is about to get cashless.
Im not saying Canada is bad or India is good...but both countries have their own unique ways of reaching masses with adavnt of new technologies
Respect🙏
Nice information
Subscribed 🤘🤘
The Credit Card Rules are actually almost the same world over.
In india also they check credit score CIBIL Score to check eligibility for any Loan.
In india also many high value transactions get declined due to eligibility.
Credit Card ka importance almost same hai world over....
Good information
Try Simplii - Free Banking, Free Cheques but no retail location
hi dear, mine is a Bachelor of physiotherapy which consists of 4 years and 6 months of compulsory rotatory intership from India.so what is the equivalency of Canada ?