Personal Finance

UK and EU bank accounts for a Canadian?

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  • Aug 11th, 2009 12:20 pm
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Member
Aug 7, 2009
251 posts
11 upvotes

UK and EU bank accounts for a Canadian?

I'd like to be able to open an account in either or both the UK (GBP) or the EU (EUR) to save on the horrendous exchange rates and 2.5% fee charged by credit companies. Anyone know if this is possible, I think HSBC will do it but they charge a fee (I'm non-premier), or should I ask a HSBC Premier member to do it and to give me their debit card from it?

Thanks! I already got my US account without leaving Canada through Harris Bank :D
6 replies
Deal Addict
Nov 18, 2008
3271 posts
81 upvotes
If you want to open an EU account without being physically present there, your only choice is HSBC. Even then, there's a lot of paperwork involved depending on the country. The UK account was relatively straightforward, just needed my passport and address proof. I tried opening a French HSBC account for my Euros, but they required a French address and a work permit. Greece and Malta are the only other options if you want a Euro account. I just did the paperwork for a Greek account, and they asked for my tax returns and proof of income even though I didn't ask for a credit card.

If you have a family member who is a Premier client, if they trust you enough, ask them to put you joint on their Premier account, and then you can open international accounts for free.
Newbie
Feb 18, 2009
93 posts
TD also has a Euro and GBP account. And they are free of charge if you carry a certain balance. I will look into it and give pm you the details tommorow.
Newbie
User avatar
Oct 1, 2007
50 posts
9 upvotes
St. Thomas, ON
M08006899 wrote: Thanks! I already got my US account without leaving Canada through Harris Bank :D
How did you manage to do that? From the information I have been able to find you need to make a trip into the states and physically be present to open a U.S. bank account.
What the large print giveth, the small print taketh away. - Anonymous
Member
Aug 7, 2009
251 posts
11 upvotes
Night Owl wrote: How did you manage to do that? From the information I have been able to find you need to make a trip into the states and physically be present to open a U.S. bank account.
They accept the application online at www.harrisbank.com, you do your intitial deposit by VISA/MasterCard (they told me they process it as a Cash Advance, but BNS processed it as a purchase), then they UPS the forms to you, you sign them and send them back in the UPS envelope they provide.

Also, I'm expecting Harris and BMO to get more integrated. They're using the MBANX online banking "mbanxonlinebanking.harrisbank.com" and when signing up for online banking they ask if you want to receive updates from "Harris Bank and Bank of Montreal". They let you withdraw at BMO ATMs with no fees and their executives include the BMO CEO and the BMO Chairperson.

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