You do not need to give more information than that. If its more than 5k they will generally ask, and just explain that you are moving some money to another institution to pay some bills there. If its not a larger amount, they generally wont ask why. Once your account is open, go to a different branch of your old bank, go to the tellar and request the money in the account. Explain to them your need for privacy if anyone comes asking. As long as you dont have fraud on your credit check you will be totally fine. If it different than yours, have a reason why, bring a friend or a family member whos on that address to explain. It is canadian law that banks must service you, all you need is two forms of ID (one has to be picture) and proof of a legal address. There is no communication between different banks. Your cards and account agreement will come by mail, so make sure its not home. You dont need to tell them anything beyond that. let this person know so they can verify if needed. For example a friends house or a siblings house, explain that you are moving in with them. Bring ID and do it in person, make sure you bring some proof of new address. Sometimes people do it out of courtesy at the same bank when they see a relationship. Open an account at a different bank, the account manager will not be notified of a new account in your name at the old bank. (12 years in banking for 3 Canadian institutions) Vancity charges a $10.00 service fee for processing incoming wire transfers.So OP, im not usually part of this sub, but there is a tons of misinformation about how banks work on this sub so I will give you some tips. We have no control over the imposition of these fees and are not advised of these fees in advance of the funds being sent. The sending institution and intermediary financial institution may deduct service charges prior to the wire arriving at Vancity. Please note incomplete wire instructions may result in funds being returned to the sending financial institution. You can minimize any currency exchange costs by sending the funds in the currency of the recipient’s financial institution. We cannot advise on how much the extra fees will be as it depends on which intermediary financial institution it goes through. This means direct deposits are not always direct bank to bank and could require a middle man to help relay the transfer. Sending Wire fees are $35 if the funds are going outside of Canada and $20 if sent as Canadian dollars within Canada.Īdditional fees may apply if an intermediary financial institution is required to relay the transfer to its final destination. Please ensure that the recipient financial institution is able to receive funds in the currency you wish to send. All the information you’ll need to provide is on that form to give to the sender. You can download the form on the Wire Transfers – Personal Banking page under “Receiving wire transfers.” You will need to click on the linked currency that you’re receiving the wire transfer in. If you wish to receive a wire transfer, you will need to provide your wiring instructions. If you’re not able to visit a branch in person, please call our Member Services Centre at 604.877.7000 or toll free at 1.888.Vancity (826.2489) to make alternative arrangements. The information you’ll need to receive to fill out the form is provided by the beneficiary (whoever is receiving the wire transfer). You can download the domestic outgoing wire transfer and the international outgoing wire transfer form on our Wire Transfers – Personal Banking page. Before you come into the branch, make sure you have all the information you’ll need to complete the transfer. You can set up a wire transfer at any branch. You can arrange a wire transfer at any Vancity branch and expect the funds to arrive within 3 to 5 business days. You can send money within Canada or internationally, in Canadian funds or another currency. As a Vancity member, you can transfer funds quickly and securely to just about anyone, anywhere.
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