My bank (Canadian) closed my account cause I was making too much money
 

Yes you heard me. My account was flagged for making too much money. Apparantly receiving wires from the states is bad news.

Anyone know of a decent canadian bank I can deal with?

CIBC is a good one.

Not even your bank wants American dollars.

:2 cents:ICICIC

Well at least that's a good problem to have. =]

I had great experiences with HSBC when I had business and personal accounts with them in Vancouver.

I always liked TD. They never charge me fees, ever. Their service is good and for mortgages they ALWAYS work to beat rates. They just seem overall like the most stable.

Been there forever.

:1orglaugh:thumbsup

What was your bank? I haven't had a problem with BMO.

Hahahhaah :thumbsup

haha right on the head!!!

are you using a personal account to receive regular funds from foreign companies?

in that case tax evasion/fraud/money laundering etc might be suspected and the bank may act appropriately

but from what you once posted, you're incorporated, so Im not sure whats the problem

eeeeewwwwwww

What bank was it?

Who do you bank with?

I've been with TD and haven't had this type of problem, but that's not to say they are a good bank, cause they piss me off all the time about shit load of other things.

Sounds like your bank wasn't making enough money from your transactions to justify their efforts. Find out if that was the case or your next bank will end up doing the same.

Get ready for a call from fintrac. If your bank really closed your account then they thought something was funky with the money and would have reported you. Hope you've been keeping records and paying your taxes properly.

What was the reason? Too much money doesn't seem to make sense. Banks love money.

Which bank were you with? I use RBC and HSBC, RBC I prefer.
WG

did they freeze the funds?

the bank wasnt a major national bank..
fucking 9/11 has screwed things up so much

yeah, which bank was it ?

Surely you're leaving something out.. What did they tell you?

I would go with TD. They're the best of the worst.

is your name mohamed?

....CWB ?

:1orglaugh:1orglaugh

There's your problem.

Wow, I'm sorry to hear that.

Do you get to keep your account for a transition period, or did they just close it?

man that sucks

I have had problems with large amounts of money at a credit union in Toronto in the past.

I have been with TD for about 4 years now and never a problem, and their service is great.

:1orglaugh:1orglaugh:1orglaugh

There's a smoking hot argentinian woman who works in a TO branch too ;)

TD is good but I can highly recommend HSBC.

Also use TD.. no problems

I'd normally agree but I kid you not, yesterday I went in to get a new "Value account" with them so I can deposit my american cheques so I can track my income for tax season (in CDN funds), and this bitch gives me a line of "yeah well, we'll have to hold those for 15 business days..." and then to top things off, I asked about line of credit or overdraft and shes telling me she will need to do a full assessment on me just to open overdraft...

Strange, because i've had a TD Visa for years, but somehow that doesn't mean anything. I'll be moving my Visa CC business elsewhere soon enough... TD Bank can suck my cock from now on with that kind of service.

What kind of shady bank are you dealing with?

Even local banks around here that have business accounts expect you to get big wires and even have "sweep" accounts where you can slam all your funds into overnight interest bearing accounts and then "sweep" them back into liquid funds as soon as you need them.

I'm still not sure what to do about the 100,000 FDIC insurance limit though. I used to think that was per deposit, but no - its per account. (Probably per individual to avoid people opening multiple accounts to get around the limit) What do you folks do with your liquid funds over 100k?

Haha... Almost all the big banks have been named. Missing BMO, Scotia Bank and National Bank and you've got the whole gang.

Must be the "Bank of Newfoundland"

Im with scotia bank ,opened up a personal and biz account no problem ,they dont seem to have issues with large wires and even cash usa checks instant for me(on the basis that the first one to bounce will mean that privilage will be withdrawn) but hey thats fair !:thumbsup

So I recommend Scotia Bank :)

I was going to suggest Scotiabank - but keep in mind that they're very, very buddy-buddy with Bank of America.

Scotia bank also has a very pro-customer kind of policy that has been developed and enhanced over I'd say the past 15 years. I've known several people who were having trouble getting their mortgages renegotiated to their satisfaction at other banks and were welcomed with open arms at Scotia. I am one of them in fact. I used to have 3 banks, now I have one, because the others basically dropped the ball.

The one thing I find a tad annoying in this thread is that Myst hasn't named the bank he's been dealing with. I'd like to hear what bank is so dense as to shut someone down for "making too much money".... something is off there.

Move to an island nation...

never in a million years use these guys...they cant even speck engrish


what bank where you at?

:1orglaugh:1orglaugh:1orglaugh

I've always been curious as to what you do that makes so damn much money.

use epassporte and hold cash at home :)hhahaaha