CAD cash or bank account?

3 posts / 0 new
Last post
#1 Mon, Oct 15, 2012 - 2:11pm
Goldust
Offline
-
CT
Joined: Sep 4, 2011
4
3

CAD cash or bank account?

Just a quick poll here. Am headed to Canada soon and was considering opening a non-interest bearing bank account in CADs.

Best to do that, or just pick up some CADs and bring them back with me for the bottom of the lake with the phyzz?

Edited by: Goldust on Nov 8, 2014 - 5:05am
Mon, Oct 15, 2012 - 5:39pm
HappyNow
Offline
-
Canada
Joined: Jun 14, 2011
1364
3144

Check the rules.  It may not

Check the rules. It may not be possible for you to open a bank account on Canadian soil.

If you can do it then it depends on whether you like your money in electronic form where it can be converted to other currencies easily and withdrawn in other countries easily or whether you distrust all that.

Canadian banks are as "safe" or safer than US banks.

Swing trade indexed ETFs. Long physical gold, silver, and 1 miner.
Fri, Oct 19, 2012 - 9:04pm (Reply to #2)
Nigel Black
Offline
Joined: Jun 14, 2011
300
2206

What is not well know about

What is not well known about Canadian banks is that got a massive bail out during the economic crises of 2008:

https://www.cbc.ca/news/business/story/2012/04/30/bank-bailout-ccpa.html

This is not from an "underground" source - it is straight from the CBC.

The government was good at keeping this all quiet - and now we Canucks would think our banking sector is superior to everyone elses. I think we (Canadians) are in for a rude shock in the next few months.