Customer Reports by Angel Ronin: A new customer opened an account today at Keb Hana Bank Canada. The services under the FCIB and CDIC rules are supposed to be offered in at least one of the official languages. They satisfy this at the branch but the Apps do not appear to be bilingual. Also, they do not work if you have an Android phone. This is changing apparently. They provide you a bank card right away; a good use of time in that they collected the deposit and then provided the bank card and it works at their machine. We have not tried it at other non KEB machines yet. The machine provides a receipt to confirm your balance of $1.00. We made a $1.00 deposit until we are sure everything is working. So, the only disappointment is when we tried to use the card to buy a 20 cent piece of fruit. It did not work. They say it takes 24 hours for the deposit to really register and it will be available tomorrow. We will also try the Interac email money transfer function very soon. Another customer just arrived to the area and wants to open a business banking account. He has not registered any trade name. But, wants the account as a sole proprietorship. They ask him for tax filings but this is not required to open a personal account, so it's not required to open a business account. Now, the bank has not made any money yet. What tax filings would he have for the business id if he is in the process of opening the business? They went through this before and were fired elsewhere. He might have had the name registered for but never used it this way but would like to begin. He goes to another company and gets an account opened in seconds. They give him a card and he makes a $1.00 deposit; all in five minutes. It's just an account to open; not a criticism of the bank employee and their lack of professional sales achievements. Click here.

Customer Reports by Angel Ronin:

A new customer opened an account today at Keb Hana Bank Canada. The services under the FCIB and CDIC rules are supposed to be offered in at least one of the official languages.  They satisfy this at the branch but the Apps do not appear to be bilingual.  Also, they do not work if you have an Android phone.  This is changing apparently.  They provide you a bank card right away; a good use of time in that they collected the deposit and then provided the bank card and it works at their machine.  We have not tried it at other non KEB machines yet.   The machine provides a receipt to confirm your balance of $1.00. We made a $1.00 deposit until we are sure everything is working.  So, the only disappointment is when we tried to use the card to buy a 20 cent piece of fruit.  It did not work.  They say it takes 24 hours for the deposit to really register and it will be available tomorrow.  We will also try the Interac email money transfer function very soon.   

Another customer just arrived to the area and wants to open a business banking account. He has not registered any trade name. But, wants the account as a sole proprietorship.  They ask him for tax filings but this is not required to open a personal account, so it's not required to open a business account. Now, the bank has not made any money yet. What tax filings would he have for the business id if he is in the process of opening the business? They went through  this before and were fired elsewhere.  He might  have had the name registered for but never used it this way but would like to begin.  He goes to another  company and gets an account opened in seconds. They give him a card and he makes a $1.00 deposit; all in five minutes. It's just an account to open; not a criticism of the bank employee and their lack of professional sales achievements.  

We suggested to the bank teller in conversation, the younger one, that they could make a deal with President's Choice Financial to run their point of sale terminals at Shoppers Drug Mart where they would offer a flat fee per day of $10.00 per machine. One machine over 30 days on this fee structure is worth in fees $300.00.  350 cash register point of sale machines to the bank under this contract with Shoppers Drug Mart is worth $105,000.00 per month.  Currently, most point of sale machines cost a percentage from 5% of all transactions up to 10%. Square and Clover cost nearly 16%. 

We also noticed that in filling out the documents to open the account, they asked us if we are tax residents in any other country.  I could be or might be but the answer is no if I am not paying taxes there.  They could ask, if they want to know, if we are permanent residents in other countries or Citizens in other countries or if you have ID from other countries.  

This question is not relevant in opening an account as the KEB Hana bank accounts documents confirm.  They only require two pieces of Canadian national ID; as a Canadian consumer deposit taking bank service.  So, the question about tax residency is not only unnecessary, it is a section 8 violation of privacy rights and a litigious issue.  As You could have dual residency, the Tie breaker rules apply and as such, there is no other tax residency for the applicant but the residence indicated.  

Dual residency
It is possible to be considered a resident of more than one country under each country's domestic tax laws. To resolve this, Canada has tax treaties with many countries that contain "tie-breaker rules" to determine which country has the primary claim to your tax residency. 

Tax residency determines where you are obligated to pay taxes.   You are not obligated to pay if you did not earn enough so that an obligation would accrue.  Unlike citizenship, which is a matter of nationality, tax residency is primarily based on where you live and maintain your most significant ties for tax purposes and residency. 

In preference, we could accept the high likelihood of dual residency

 for Asian food producers or for European food and furniture manufacturers or athletes.  As such, we would 

prefer to ask if the individual has assets over (£)100,000.00 pounds in another tax jurisdiction or enough money to buy a vehicle in cash but not enough 

to buy a house but enough to stay in a Manchester 3 star hotel with dinner and breakfast included for 

one year only and then you have to leave the hotel; that is not a gift, bequeathal or benefit.