Jul. 2nd 2009 at 06:52 pm EDT
By wendymr
Another thing to be aware of is that without a credit record in Canada you're likely to be charged deposits for services such as utilities, cellphone purchase and so on. What this means is that up front you have to pay the companies money - usually around $200 - which they hold for about a year and then give back to you in the form of crediting it against your bills.
You might find that you will be offered limited services by Canadian banks to begin with, as well - for example, when I applied for my first bank account here I didn't have a job, so I was limited on ATM withdrawals and had to allow a longer period for deposits to clear. Don't apply for any services you think you will probably be refused - for example, interest-free credit or a store card - as that will damage your credit record.
Oh, and Jon's right, by the way: if there is a HSBC in your country, open an account with them as they have a means of opening a bank account for you in Canada before you move. If you meet their criteria, you might even get a credit card here as soon as you arrive.
After a couple of years, though, you will be starting to build a credit record and history in Canada and you'll find it easier to get these services in future.
