Canadian Online Banking Report

Hi there..I just signed up with ING direct (online investment banking company) and when i did i noticed that it asked for my SIN (known as SSN in U.S.) i decided to just enter the wrong one because their online form kept saying my real one was not valid even though it is. What are the consequences of not reporting my real SIN/SSN to them when i only expect to receive less that $20 interest for the year in that account ... I am Canadian btw.

Connemar is exactly right.

2007-05-15 13:35:26 by Kelly P

Over the past 4 years, the Canadian people have paid $137.4 billion in interest on money borrowed from private banks whereas the Bank of Canada ...

I am a Canadian citizen and to my surprise, I have recently found myself being turned down for credit. I already have a Visa card with my bank but I had one unpaid debt of a couple hundred dollars on my credit report (one of those furniture store credit cards). Truth be told, I had no idea one unpaid debt could overshadow the fact that I have paid my credit card, student loans etc. on time religiously for years. I have since paid this debt but am concerned because I am still being turned down for credit and am told it can take some time before the bad debt will no longer be taken into consideration. All of the "second chance" credit cards I find online are for US banks and to be honest, it's hard to tell what's legit & what's just a scam preying on people down on their luck. Does anyone know of an institution that offers "second chance" credit cards to Canadians (not a secured, "prepaid" card but a real credit card)? Any other advice on how to rebuild my credit would be greatly appreciated. My boyfriend and I are looking at buying a home within a couple years and I want to make sure there are no problems when the time comes.
I was also wondering, does anyone know if secured credit cards or "second chance" personal loans can help, or are they just a waste of time? Thanks again!

First... leave the scammers above me alone.

There are a coule of routes you can and should take to rebuild your credit.

1) Capital One offers a secured card with a low deposit. (About 300). It may be a $300 deposit for a $300 card, or it may be as low as $75 for a higher limit, but they will not refuse you a card (unless you have defaulted with them).

2) When your credit is a little better... in the close to range... if you have a good job and make good money and have shown a year of good payment history Canadian Tire is usually pretty easy to get a mastercard from. Be careful with them, though. They're ferocious about defaulters.

3) Go to your bank (preferably with cash you've saved up) and ask for a secured loan. You may need a cosignor for this, but get a small one and pay it over 2 years. Make sure, though, that you can afford the payments as there's no point rebuilding if you can't be sure you'll be able to make regular payments.

The secured cards definitely help. The high risk loans can help to rebuild your credit as they show a payment history, but they can also be a red flag to lenders. Personally, if I couldn't get a bank to do a secured personal loan then I would use the high risk places... but only for a small amount over two years.

2009-08-24 17:27:34 by fawnmtl

Sir,

It is very noteworthy of you to answer any questions of the general public.

Plz let me explain my cae in detail, so as to give a fair picture and know my rights and responsibilities.

I was a student in Toronto, Canada, and my visa was expiring on July 30th, 2008. I left the country on July 3rd, but before leaving, I was gullible enough to meet some guys who offered me to make a quick buck.

They made me open a business bank account in a bank, and said they needed to transfer some funds in that account, and they will give me a cut if I withdraw the money for them. After a week of opening the account, a whoppin sum of 50,000$ was deposited online into my account from someone from Alberta. They made me withdraw the amounts in various drafts, and made me change the drafts for cash, and gave me 5000$ as my commission. I didnt realise this then that this could be a fraudulent transfer, and suspected the whole fish market, when my account with bank was blocked.

When I was leaving for Toronto International Airport on July 3rd, one of the guys offered to drop me to the airport, as I was carrying heavy luggage. During the ride, through some slight, he got hold of my small leather bag, which had my Canadian drivers licence, and some cheques. I realised this when I had already boarded the plane to India.

I thought they might not be able to do anything, as an ID without the actual person might not be of any use. But to be on the safer side, I called the Toronto Police to file a lost/stolen report. An officer from the Headquarters called me back on my India number, and took down the report.

Now, sometime in August 2008, my roommate from Toronto called me saying the police are looking for me, and the officer even pointed a gun at my roommate, though I cannot vouch that the officer actually did that. The officer told my roommate that he had a warrant against me.

After numerous calls, I found out that its the York Regional Police who have a case against me. I got hold of Officer, who is the lead investigator. I e-mailed him a statement, though not mentioning the online deposit thing. He said a dealership has initiated charges against me , cos someone has picked up a car, somewhere around July 18th, 2008, (I can prove I was not even in the country during that time), and the car is nowhere to be found. This amounts to theft, though Officer Tanczos claimed he hasnt issued a warrant against me. The perpetrators have also given cheques from my account, by somehow forging my signature, and the cheques have been bounced. I reasoned with the Officer but he says he cant help me any more, as I am not in Canada. He revealed that the Toronto Police 43 Division has a warrant for me, and this station looks after the region where the bank branch is located.

These guys have played havoc with my ID, as they have bought some Fido SIMs with my ID, and then called in Customer Care, and changed the details, probably such as DOB or address, so as to prevent me from getting access to those numbers, to deactivate the service.

I have already spent about 2000$ in getting through this case, but to no avail. I transferred some 1500$ to a lawyer from Montreal, and all he did was to request a RCMP certificate. I havent received the report as yet, and the RCMP website mentions that it might take more than 120 days to receive a report which "hits" a criminal file.

Plz help me out of this case, as I want to come back to Canada, through Permanent residency. Besides these 2 things, I have an immaculate record, in India, and in the 3 years I spent in canada, as well.

Do you frankly think I stand a chance to come into the country again? Plz let me know what should I do. I cant spend any money right away, but plz give me a friendly advice, and let me know the litigation involved. Atleast tell me, what punishments are involved in the bank transfer issue, and is there any way to get out of it, and start life with a clean slate.

plz do care to e-mail me back.

thanks a lot, and I hope this is the beginning of a new and fruitful association between us.

Warm regards,

so stupid, go back to india you are screwed. If you go back you WILL get jail time for sure.

2009-03-01 05:26:26 by Andy Fernandes