Banks competing for new immigrants as a key source of business growth

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Competition to sign up new immigrants as customers by Canada’s banks will increase as Ottawa aims to attract more newcomers to the country each year

offer accounts with no monthly fees for a year or more, and no-fee global money transfers for periods of time. Most banks also offer new immigrants

Part of what makes this client segment so competitive is that there is a small window of opportunity in which to make an impression. About 77 per cent of newcomers have family or friends in Canada before they arrive, according to a study by SRG, which means word of mouth is vital. A small percentage open accounts before they land in Canada, and 65 per cent have accounts open within one week of arrival, rising to 88 per cent within one month.

The challenge, often, is making the process as easy as possible for new customers once they arrive in the country. A survey of immigrants by SRG found that 17 per cent of respondents had difficulty opening bank accounts soon after coming to Canada.

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

like fanny and freddy preying on vulnerable african american and hispanics in the 00s

Governments help Immigrants too.

Sociopathic levels of immigration destroying Canada.

Of course they are. They have been lobbying for this for years. The banks own the politicians.

globebusiness

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