CND Bank that allows opening up additional acc online?

original · #1 10-07-2010

I remember seeing something on the forum about a Canadian bank that allows you to open a bunch of new accounts using online banking, so you can have multiple savings accounts with different account numbers.

Does anyone know what bank allows you to do that? I'm with CIBC and Credit union right now and they don't allow that...

First Edition · #2 10-07-2010

Most banks will allow you to have multiple accounts. Have you tried RBC?

kris · #3 10-08-2010

I use CIBC. Opened the first account in person, and then was able to create multiple checking and savings accounts (4, so far) via online banking.

rsot · #4 10-08-2010

I have CIBC too but don't use online banking - you can create multiple via online banking kris? Care to PM? Prob have to go to the branch to set it up.

I use almost all of the banks but been lasy with using their online services.

original · #5 10-08-2010

Are you guys sure its CIBC? I have CIBC online banking and mine doesn't wanna let me open any online. Says I need to go in the bank.

original · #6 10-08-2010

Also, a savings account would probably be a better idea to open correct? as they have no monthly fees?

First Edition · #7 10-08-2010

You have to be careful with savings accounts, as you are limited to the amount of withdrawals you can make per month.

JEM · #8 10-08-2010

RBC , you can open additional accts online, as well as USD acct online if you want.

kris · #9 10-10-2010

Yep... Im positive its CIBC. I dont think I went to the branch to set up online banking... pretty sure I just set it up online... but that was years ago.

I just opened another new account online last week. I log in to online banking, click the 'Apply' tab on the top of the page, click on the 'Bank Accounts' link, and click the 'Apply Now' link next to the account type I'm interested in. I have 3 checking and 1 savings account so far.

original · #10 10-10-2010

Quote:

Originally Posted by kris

Yep... Im positive its CIBC. I dont think I went to the branch to set up online banking... pretty sure I just set it up online... but that was years ago.

I just opened another new account online last week. I log in to online banking, click the 'Apply' tab on the top of the page, click on the 'Bank Accounts' link, and click the 'Apply Now' link next to the account type I'm interested in. I have 3 checking and 1 savings account so far.

Thanks guys. It is in fact CIBC. I had a limitation on my online banking that wouldn't let me open any more accounts. I called the branch and they removed it within minutes.

This is great. I'll now start up more steal accounts

splash · #11 10-29-2010

hi
i called rbc about creating multiple accounts and they walked me through the first one on the website,

they told me that i can open up to 5 new accounts online per year, its only a few clicks and voila!

i inquired about opening up additional accounts on my business bank account and they said i can't do those online, i have to make an appointment and drop into my branch

i hope this helps

regards

splash

pod · #12 10-29-2010

Ally bank allows sub accounts from my understanding. I never got around to setting one up yet. But worth a look

Its all done online. But if I understand how it works you would take the money from the accounts at Ally and transfer it to your regular bank to access cash.

GIC, High Interest Savings & Tax Free Savings Accounts | Ally Canada

mr888 · #13 10-30-2010

RBC, BMO work online for sure for instant sub accounts :D

liimey · #14 10-30-2010

I have TD, RBC, CIBC, Scotiabank and BMO accounts ( i have A LOT of Ebay and PayPal accounts). RBC is great as I have 8 Florida based savings accounts, which i use for my US ebay accounts. However they limit you to 5 Canadian savings accounts. Same with TD and BMO. CIBC I have to go into the branch to open. However I have 10 scotiabank savings account all opened up online and they so far have never declined to open more at my request. So they would be my recommendation

original · #15 11-07-2010

Quote:

Originally Posted by liimey

I have TD, RBC, CIBC, Scotiabank and BMO accounts ( i have A LOT of Ebay and PayPal accounts). RBC is great as I have 8 Florida based savings accounts, which i use for my US ebay accounts. However they limit you to 5 Canadian savings accounts. Same with TD and BMO. CIBC I have to go into the branch to open. However I have 10 scotiabank savings account all opened up online and they so far have never declined to open more at my request. So they would be my recommendation

That's an insane amount of accounts. Banks are cool with having 10 savings accounts? Doesn't that look kind of fishy?

Do you withdraw cash from the savings accounts constantly?

allen · #16 11-13-2010

Is saving account better than check account for paypal?

rsot · #17 11-13-2010

Wait - so if you open online you don`t need to go in person and sign something? You need to send in your sig card though right?

mr888 · #18 11-15-2010

Quote:

Originally Posted by rsot

Wait - so if you open online you don`t need to go in person and sign something? You need to send in your sig card though right?

no, these are SUB accounts of your main account, so nothing is needed.

holymoly · #19 11-19-2010

There is a list around here with the names of banks that work/don't...updated by aspkin all the time.

PS: Don't do any savings...they cost a fee to keep open, and cannot withdraw often.

Hrad · #20 11-29-2010

I just opened up a second account online with Scotiabank yesterday. They say you can open up to 5 online then you have to drop into a branch to verify that you want more.

I'm planning on opening a PC Financial account, anybody know if they let you open more accounts online?

What about TD Canada Trust?

original · #21 12-04-2010

Quote:

Originally Posted by holymoly

PS: Don't do any savings...they cost a fee to keep open, and cannot withdraw often.

That's not true.

I have 3 savings accounts with CIBC currently receiving cash from PP. After I receive it, I just transfer it online into my checking account.

I just leave $50 in each savings account at all times for "savings." Btw,
CIBC has a horrible interest rate, 0.6% right now...

Most of my "savings" is in a credit union savings account with 2.2%.

mariacomputers · #22 12-17-2010

The best no Fee Banking is PC Financial and you can open online or go to one of their booths in any loblaws to open the No Fee bank account and unlimited monthly transactions. They opened mine 2 together, both checking and no credit check. You can open as many you need. Just give it a try as it is backed by CIBC. Thanks