Today we’re going to see how you can get a Canada offshore bank account with Jetonbank to move your wealth around the globe.
If you have friends and family abroad, transact business overseas, or just like to travel, the freedom of having your money around the world can be super handy.
International bank accounts used to be a madhouse of inflated charges and red tape. But now in the digital era, with companies such as Jetonbank making cross-border banking convenient for all to do with a couple of clicks, transborder banking is accessible from anywhere and anytime.
Towards the end, you’ll know why a Canada offshore account makes money easy around the world from the couch at home.
Let’s begin our journey to wealth abroad!
How to Open an Overseas Banking Account in Canada?
If you open an offshore account with Jetonbank, you’re setting up a bank account that looks the same as a normal bank account at home, but you will need to have a little extra authentication because you will be using it overseas.
Here are the steps:
- First, do your homework and go with Jetonbank or some other online bank that offers offshore accounts. You’ll need to consider fees, features, and account minimums so you can decide what is right for you.
- Once selected, log into the bank’s website and fill out the new account application. You’ll show standard KYC documents, such as ID, but may require more details if you’re a foreign client.
- Once submitted, the bank will validate your identity using digital resources. This usually takes 1-3 business days.
- Once approved, send the minimum deposit amount (usually $500-1000 CAD) to open and fund your account. Wire transfers work too.
And just like that, you’ll receive your online banking login and be all set to move your money around the world!
It generally takes 1 to 2 weeks to complete, so prepare with thorough paperwork.
Opening a Canada Overseas Bank Account to Make International Transfers
A main advantage of having an offshore account is the possibility to send funds abroad at low rates.
Money transfers to foreign countries through conventional banks usually carry high charges, however, Jetonbank offers lower charges.
Using your Canada overseas account, you can:
- Fund friends and family abroad easily. No more needing to pay high-end wires to connect with the rest of the world.
- Receive overseas deposits from clients or income-generating partners based overseas.
- Free foreign invoice payment to suppliers/importers online. Awesome for international companies, big and small.
- Invest in markets around the world via global markets.
- Pay cash before you go so you don’t pay ATMs when you’re on the road.
Jetonbank accepts ACH transfers in 1-3 business days, and it only costs $5-10 — much less than percentage-based transfer fees from old banks. Banking overseas is never cheaper.
How to Open a Canada Offshore Bank Account as a Foreigner?
Even if you live abroad, Jetonbank allows foreigners to open an account and use Canadian financial services.
The app works in much the same way, just a few extra steps:
- Give us your valid passport as your proof of identification.
- Address proof such as a utility bill from your country of residence abroad.
- Please describe your intention and reason for wanting a Canadian account.
- You might be required to submit your Tax ID Number from your country of origin.
- Address verification sometimes involves a video conference with a bank official.
Once approved, your account becomes non-resident. And yet you can do full digital banking anywhere anytime via Jetonbank's superb app and website anywhere in the world.
Just check on any tax implications for keeping funds outside your home country.
What is the Minimum Deposit Amount for a Canada Overseas Bank Account?
The majority of online banks ask for a minimum of $500-$1000CAD. This will ensure that you are 100% serious about using the account in the long run.
Make sure to transfer the minimum amount or funds as soon as possible to keep your account active.
Offshore accounts are ideal for quick overseas transfers, not for long-term expansion. Be sure to check account charges as well for complete details.
Best Online Bank for Overseas Banking in Canada
If Canadians are looking for a place where they can bank abroad, Jetonbank is one of the most convenient places.
For a few reasons:
- No monthly charges or support fees for any account.
- Transfer fees as low as $5-10 versus percentage charges elsewhere.
- Cryptographic security & 2FA military level Security
- You can manage your account on the go using our free mobile app from anywhere.
- Approval within 1 to 2 weeks after documentation validation.
- Multicurrency support in CAD, USD, EUR and 50 additional global currencies.
- Proficient online banking – bill pay, budgeting, deposits, and more.
- All the clients receive 24/7 customer service from our worldwide team.
Jetonbank - Out of home banking made simple!
With our cheap prices, secure infrastructure, and fantastic digital interfaces, foreign money affairs are no pain in the rear. It’s a complete package for Canadians who care about international banking.
Today, if you’re on the world wide web, having your money spread globally provides amazing potential. Financial services such as Jetonbank are opening the world to cross-border funds in a way never before. International transfers are faster and less expensive than wires.
Strong online and mobile tools help you make a deposit from anywhere on the planet.
So if you’re keen on getting the benefit of easy foreign banking services from Canada, consider opening an account at Jetonbank.
Our low fees, top notch security, and incredible digital platforms make life on the sidelines of finance easier. Contact us if you have any other inquiries!
