Collaborate on Invoice Notes and Terms Example for Banking with Ease Using airSlate SignNow

Invoice notes and terms example for Banking

thank everyone for joining our webinar today Canadian banking Essentials for newcomers uh my name is Riley Cohen I'm the CEO of Canada visa and I'm very excited to welcome uh you all here today um we're GNA start this pre we're gonna start this webinar with a presentation by our guest from TD Bank um and then after the presentation we'll have a question and answer period many of you submitted questions prior to the webinar we're going to try to get to as many of those as possible and uh throughout the webinar we also encourage you to ask uh questions in the chat and our team of moderators will ceue up those questions and we'll we'll answer them at the end of the webinar too um I'm happy to introduce Our Guest today Tyrone Maguire uh Tyrone is a product owner new to Canada TD he has been with TD for 10 years spanning roles in wealth contact center and personal banking in his current role he focuses on the customer experience for newcomers with benefit packages and financial literacy support tailored to their situation in a spare time uh Tyrone is chasing his three children ideally Outdoors thanks for joining us Tyrone um again we'll have ample time at the end of the webinar for our questions so we encourage you to ask questions throughout the presentation in the chat uh remember the chat is public so please do not share any personal information such as phone number or email uh these messages will be removed from the chat um one last note is that this presentation is uh recorded and the slides will be available uh and shared with you in an email afterwards um so yeah with with that being said thanks for joining and I'll hand it off to Tyrone for the presentation awesome thanks so much Riley and uh again huge thank you to everyone for joining today as you can see the presentation in itself is called banking Essentials for newcomers uh and that's what we're hoping to tackle today it's really all about helping you prepare for your fin final journey and at the end of the day build your financial confidence um it can be sometimes very overwhelming whether you are somebody who mentioned you're tuning in globally or somebody who's already arrived in Canada um to build that first banking experience in a new country and especially when there's so many options there's lots of different banks uh available to you but at the end of the day you know we're here to support you and I want to make sure that you can feel confident to make informed decisions about your finances so um you know as Riley mentioned um I'll go through this presentation to begin um the moderators are here we can make it as interactive as possible but definitely will Reserve time at the end for those questions um and thank you for submitting those ahead of time so I'll just um quickly look over the agenda and give you a heads up as to where we're going today we're going to start by focusing on your financial health and then we'll understand some of the basics so we've got checking accounts savings accounts credit cards um and then we'll look at building and maintaining credit that's a huge topic I know many of the questions that came in ahead of time were around credit so we'll really spend some time there then we'll go to what it means to borrow um and then we'll end with banking with TD and happy to highlight the TD new to Canada banking package and some of the options available there I know uh again there was a few questions that came in ahead of time wondering what some of those current offers are and so we'll be able to highlight those and so you know when we first step back and look at the overall picture it's important to note that there's a really strong connection between your financial health and your overall well-being um Financial issues are often a top source of stress they can influence our influence our mental emotional social and physical health and really it does impact our relationships as well and the ability to achieve our goals um I can speak very much from personal experience some of the most stressful times I have had in my life have been um where finances are at the Forefront of that and um it's something that can be overcome and helped with having the right conversations and so hopefully today is um one of those conversations and you'll see on the slide that we have broken it down where if we want to understand Financial Health there's four main components there's spending saving borrowing and planning and so these are going to be you know a simple way to assess your financial well-being and so um it creates a framework that can help you identify the opportunities to build and maintain good financial habits and it's really important that we build in those habits because our lives are ever changing our financial situation is ever changing and so again making sure we have the right underlying behaviors and habits to do these things in the right way and that's what's going to help us build the resilience for if things go tough be able to pursue opportunities um and at the end of the day meet your personal financial goals and so we're going to go through each one of these today as I mentioned in the agenda and spend a bit more time talking about them so realistically let's start first with a plan and a plan for the future because um as We Know anyone who's created goals before um and maybe your goal is to come to Canada maybe you've already made it here it means you had a goal to get here and you had to make a plan and so what that really means is we're going to look at the specific steps to create and Achieve both the short-term goals and long-term goals because for every individual on the call today your short-term and long-term goals will look different but there's a few themes that we can look at that will be applying to everyone and those are always going to include you know the tailored banking products and solutions for your situation and again I mentioned the specific behaviors and Milestones to get you there um and so when we look at the first thing you want to do is create those financial goals and so at TD we can help develop a plan that's right for your needs and your circumstances and you also want to plan for the unexpected and feel confident that you have protection in place that's right for you so that could um cover topics that we'll touch on a bit later like a life car or home insurance or maybe it's even credit protection um that again helps make sure if there is something unexpected a bump in the road that you are covered for that and so as I mentioned before you know we've got short-term goals and long-term goals and when it comes to financially a few of those examples can say you know on the short term it might be saving up to buy a car when you arrive or a vacation or you know as it Treads a bit longer maybe saving up uh as a down payment for a home long-term goals examples of that would be potentially postsecondary education expenses so going to University whether it be for yourself or maybe for your children down the line um it could be moving into your dream home or um the biggest one that I think many of us would share also is retirement and that's something that um you know for myself for a lot of you is potentially even decades tens of years down the road but we need to start planning for it now and understand what the goal is so we can be um build in those behaviors that will help us get there and so at TD we also recommend that you review your plan regularly to make sure it's still working and to see if you're on track to reach your goals and if you're not then we can adapt it when necessary and um we're very much here to support you in our branches uh in our contact centers through a discovery of your needs and goals um we you know understand and have been through this a lot so our advisers know the right questions to ask to help make sure that we are looking at the right goals for yourself so one thing that I want to take a second and focus in on um when it comes to you know especially those short-term goals that you've made and here we talk about those financial goals is saving and so savings account as it's defined there on the slide is an account to help you grow your um savings or your money and reach your financial goal faster so as it's also noted there this is really helpful for the short to midterm financial goals and so one thing that this can be very useful for is the importance of an emergency fund and so if you haven't heard that term before what it really is is um you're saving for emergencies by being able to cover a fund or or sorry um contribute to a fund that can cover three to six months monthly expenses that's a goal people aim for and we know this can sound daunting but when we create a personalized strategy and the biggest um thing that has worked for me is automated savings it makes it very simple fast and effortless and so that's something a certain amount every month is automatically deposited into a savings account and that way it's a bit out of site out of mind and when you go to check that savings account you can see that it's actually grown um with interest is what is paid on a savings account so it's not only the funds that you're depositing are growing but um there's interest paid and contributed back to you on those funds that help it grow even faster and the next topic we want to cover is a checking account so this really is the um day-to-day base for um what most individuals in Canada would use for their expenses and so when we think day-to-day expenses we're thinking gas or groceries or bills things that are part of everyone's life um you know so is also shopping for new clothes or traveling or a fun night out with your friends and so we want to make sure that it's built into your overall financial plan to be able to take part in those things but to do so and to spend responsibly and so checking accounts are where your day-to-day transactions can flow through um at TD we've got um some convenient options like having your bills set up automatically to come out of your account or accessing your Banking online or through the mobile app which I will uh I'll touch on later as well there's also something um that's on the slide there called over overdraft protection and so overdraft protection is available for your checking account and it actually allows you to complete a transaction up to approved up to an approved limit even if the funds aren't there in your uh account and so what that does is help you avoid decline transactions or late payment charges on your bills um or non-sufficient funds fees um and allow you to then put those funds back into the checking account and make sure that those transactions have still gone through um so that can be a very useful tool as well the next thing uh or a core product out of a checking account a savings account that many people ask about is a credit card and so this is another way to manage your daily expenses but the difference here is you're actually allowing you to build a credit history which I'll go in depth more on a minute and depending on the card you have you could potentially be earning points or Rewards on this credit card and so you'll see on the right there you know we have a whole Suite of credit cards with different benefits and so this is where talking to an advisor is very helpful to find out what are the benefits that will mean the most to you is it Aeroplane and travel rewards if you're looking to potentially fly in the near future is it cashback rewards if you'd like to get that money back um we also have partners that you can redeem these rewards through so I mentioned air Canon um Starbucks is a big partner Expedia for TD as well as even Amazon where um as we know you can get anything on Amazon so we also have a low interest rate option if you carry a monthly balance that will help you um you know be able to deal with the debt and make sure and you know work towards paying that down so ideally you're not carrying a monthly balance and so again we'll go over the credit history in a minute but this is where I'll keep keep coming back to throughout the presentation but I do think meeting with an advisor where they can learn specifically about your financial needs and goals is going to be what's best because then they can create and recommend what is the card that would suit your situation um most so as I mentioned we've got a credit score and so if you're already in Canada this you might be familiar with this if you're um still overseas maybe you've read a bit about it maybe maybe it's totally new but um it's very important in our Canadian banking um system to think about and understand your credit score and your credit history and so you know at the beginning what is a credit score it's a record of your ability to borrow and repay loans on time and as a newcomer in Canada it's really important to start building your credit history and know that your credit score is dynamic meaning it changes over time it's not in stone and it will change as your financial circumstances change and so if you hear that and you think you know the next question well how do I build and maintain that so one way to do it is applying for a credit card is a good way to start and then when you use your card on a monthly basis and pay off that balance at the end of each month that helps build a credit history because you're showing um any of the banks or the retailers that you can borrow the money on credit and you can pay it back at the end of the month and so um there's a few factors that I would keep in mind in maintaining a good credit score is as I mentioned you always make payments on time um for most banks this is monthly with a credit card um you avoid going over the limit um and if you think you might not be able to make a payment you can contact you know us at TD if you have a card with us to discuss further and it's a very useful tool because having a good credit rating um can help when you're looking at even services like like internet Mobile phone plans or especially renting or buying a home and so that brings us to as I mentioned the last part of um these Financial pillars is borrowing and so borrowing is um essential when we come to um looking at spending responsibly because we always want to borrow responsibly as well and so managing your debt is important to ensure you stay on track to meet those financial goals or miles stones and we have a couple of options um that you're seeing on the screen there one being a personal line of credit and one being a personal loan and so it's showing there some of the differences where a line of credit is um easy and comes at um competitive interest rates it's you can think of it as a rainy day fund to cover unexpect uh unexpected expenses it's there if you need it but you don't have to use it um and you can save money potentially by consolidating some higher rate balances like from credit cards if um that's a useful tool for you at the time whereas a personal loan usually has a set purpose so you can see there it's the funds are up front whether it be a vehicle or an unexpected expense but you're getting all of the value of that loan and then you've got fixed or variable um payment options that can work for you on paying that back but I'll mention it again I think that if you come into a branch if you're considering either of these options um we can go over over which is going to work for yourself and which is the better option at that time and so I had talked about previously how to bank with us now one of the advantages at TD is we have over 1,00 branches from coast to coast in Canada and so the good news is I'm pretty confident in saying no matter where you land you won't be far from a TD branch and there are other ways um you know I think especially when you arrive um coming into a branch I think is very helpful to be able to meet with somebody face to face understand all your options but we also know that's not everyone's um preference and even once you've met with us you might want to do Banking online or on an app and so um you can see the Easy Web online banking we have available in four languages our mobile app is as well and then we have telephone banking um which is also available in traditional and simplified Chinese so um if you have language needs those might work well for you um but I myself I'm somebody who really loves using the app um I think a lot of us are probably on our phones for a lot of the day and so when I am sending a transfer to a friend maybe to pay them back for dinner or I just want to check my balance I want to see if a bill payment has gone gone through all of those I really do appreciate the ease um from being able to do it on my phone and not needing to go into a branch to ask those questions for those quick transactions so when we look at your first few years in Canada um there's going to be some emerging needs that will likely come up no matter your situation and at TD we are ready for you no matter which of these needs you're looking for whether it's buying a car or your first home in Canada as you work towards those as we talked about short-term goals and make future goals we want to offer you some of that personal I advice and so even some of the topics that we're not going to cover today as it's really just an introduction but you might be interested in whether it be small business banking are you looking to you know start a business in Canada um wealth management do you potentially have a higher level of assets and you're looking to invest or maybe um do some trading uh on the stock markets and the exchanges we have Specialists for um products like that and they can answer all of your question questions and again provide very tailored solutions to your situation and so um I encourage especially if you're looking at some of those needs whether it's the business banking whether it's the investing um I would go online to td.com and you'll see that there's an option to book an appointment and you can actually indicate what you're looking to talk about and we'll make sure we get a specialist that's close to you in your area and really have a more in-depth conversation about those needs so what we really want to do is go over a few also of the common transactions that you might do and how easy we can make it here at TD and I think for me it uh that leads to the confidence and especially um we know security is top of mind for everyone um you know fraud is real and there's individuals who are trying to get access to your money but we take that very seriously and that's why we've got a lot of different features to make sure that um you know you feel confident and secure in your banking at TD and so if you are paying rent or splitting a bill um interact email transfer can make it very easy to send money to a person or a business that has a email address or a mobile phone and a bank account in Canada and so that's something that um depending on your account type can be included in the account as well so it's free to send those transfers and they are very fast and very secure you'll see there we also do have international money transfers and so TD Global transfer is a very convenient way to send money internationally and you can actually do it directly from your TD app which I I know a lot of our customers appreciate that convenience again of not needing to go into a branch to send money overseas if they don't want to we as I mentioned take security very seriously iously and so we have ways to stay on top of your finances like TD fraud alerts um where you can actually customize the alerts to say if certain transactions are happening in your account if it's over certain dollar limits you can be notified every single time as well as that next one there's TD mys spend this has been super useful for myself where you can actually budget different categories and check in any time to see how is your spending tracking that month but it also can give you a no ification every single time you make a purchase and so if you you know didn't want to wait to the end of the month and there was a purchase that you didn't recognize you'd be able to call TD right away and we can make sure we get that looked into there's also mobile check deposits so again a very convenient way um if you're potentially getting a check from the government or even your employer you can actually take a photo of the check right from your phone deposit it through the app um and it still has the normal hold period but you do not need to go into the branch to deposit that check which is very very um exciting so we're about halfway through here I will talk about some of our current packages and offers and then again we'll have a few minutes um from now some time for some questions and answers so feel free to start getting uh thinking about those if you haven't as well but as I mentioned we've got a TD new to Canada banking package and so this is something that we've put together that has a whole host of benefits um specifically tailored for our newcomers to Canada and so a few of the products are mentioned there um right on the slide where we can open a TD unlimited checking account and if you're a newcomer you actually enjoy no monthly fee on that checking account as well as depending on um when you open or if you bring in some funds there can be some additional cash bonuses there there's savings accounts where again you can get um some bonus interest rates which can be very helpful and there is a credit card as well so currently we have our TD cashback um Visa card so again the reward type is you actually are getting cash back dollars but we have a way for our new to Canada customers to earn an extra $135 on that card within the first few months and so we even have it right now where if you get each of those three products and you bundle them together you can get an additional $100 cash um that you can use for whatever you want which is very competitive we also have some other products like um some offers with TD direct investing um which is our online brokerage if you're looking to invest in some stocks or mutual funds to start to build those um build your funds as well as you actually get um TD Global transfer so the um program I mentioned where we can send International money transfers you get the annual rebate um for up to one year on all those transactions so that's a very um useful offer as well if you are in Canada and you potentially are going to be sending money um back home back overseas so we can go into specific details about those products um depending on the questions you have but really I did just want to thank you for coming today I mean um I've provided a lot of information you know it's very high level but hopefully this is something that has helped help you understand a little bit more about um the Canadian banking system and some of those products that TD can offer to help you either now if you're here or once you arrive as well and um I know Riley's joined uh on video again so we'll take some time now and happy to answer any and all questions you have um for myself thank you so much Tyrone um really appreciate your time very thorough presentation and uh uh excited to move into the question and answer period um all right some um initial sort of housekeeping things one please continue to ask questions in the chat as we go through uh the question and answers if you guys have um follow-up questions we'll be able to ask those to Tyrone um secondly please refrain from sharing any personal information in the chat the chat is public other people can see it and just uh bear that in mind before you ask some some questions um and with that being said we're going to kick off the question and answer period um Donald asked prior to the webinar how can I effectively use a credit card to improve my credit score and what's the difference between a credit card and a credit line yeah thanks Donald those are great questions so um as I mentioned a credit card is is one of your best tools for improving your credit score um and I said it in the presentation but it does bear repeating the best thing you can do to improve your credit score is to write regularly use the credit card so that would be you know for example making purchases on it throughout the month maybe you've got a subscription and you attach the subscription to that credit card so there'll be a regular purchase but the biggest thing you can do is pay off the full balance on time each month and so what that does is that again shows Banks shows retailers that you can borrow the money and you can pay it back and if you do that consistently it's going to lead to a very strong credit rating and I would say it does take time you know I think a lot of um research out there would show probably between even three to six months when you first get a credit SC score is the amount of time it takes to build up that rating and so don't be discouraged if you check after one month and you see your credit score isn't um at the very top it you know retailers and Banks want to see that you can do it consistently over time and the other thing I would um mentioned before but would say again is it's Dynamic so if if you miss one payment it doesn't mean that you go back to zero that might lower your score but you do have the opportunity to build it up again right the second question in there that I I'll say off the bat Riley was just the difference between a credit card and maybe a line of credit um a line of credit would be a fixed amount that you can take from and pay back and is always there that you have access to where a line of credit is when you use the funds it's going to go into say your checking account to be used like cash a credit card one of the main advantages is it allows you to make purchases specifically online for a lot of retailers people like to do online shopping these days and so if you are to make a purchase you're going to do that with your credit card whereas a line of credit wouldn't be um you know you don't have the same level of convenience to make a a smaller purchase in that way right and uh San Diego asked as a followup question can I get a credit card as soon as I land in Canada as a newcomer yes you definitely can now um what I would say is this is where it's going to be specific to everyone's situation and so by going into a branch I would recommend as the best option or calling us to um apply for a credit card and maybe that's something that's worth mentioning is credit cards um and a credit history as I said is unique to each person and so everybody's application is assessed on a one off basis and so um there are no guarantees I can't say everybody here is going to get the same amount of a credit limit or approved in the same way um but you know we do have options even for individuals who have arrived in Canada for the first time and so don't have a credit history there are still options for credit cards for yourselves and so again the best thing you can do is when you do arrive in Canada come into a TD Branch apply for that card and there is a possibility to get one right away right awesome thank you um Joseph asked leading up to the webinar what is the least amounts I need to open an accounts or can I open an account with a zero dollar balance and then add funds to it afterwards yeah great question Joseph and you have the answer yourself you can open an account with zero dollars and fund it afterwards now there are ways that if you open an account with zero dollars and never use it eventually that account will be closed but as long as within the first few months you put in even a few dollars and are transaction with that account it will stay open um but you don't need the funds on day one sometimes it's actually more helpful to come in open an account with zero dollars because certain employers may offer direct deposit meaning they if they're going to pay you they don't have to give you a check or cash they can actually put the funds electronically into your account and so by having that account open it actually allows you to set that up off the bat which can be very very convenient awesome um FAS asked leading up to the webinar what banking services does TD offer for students and then how should I decide um those Services as a student yeah that's a great question so I had just gone over our some of the benefits for the TD new to Canada package we actually also have a package for international students and so um it is a very similar product offering whether it be the checking account which in this case is the student checking account versus the unlimited um as well as a credit card and savings account all those offers still stand and even if you weren't an international student but had potentially grown up in Canada or were here domestically we do have student offerings as well and so um it's very simple to come in when you are talking with an adviser I would ask for the student account and you'll show your proof of whether it be age-based if you happen to be in high school or even if you're attending a postsecondary education you can show your enrollment and we'll get you um you know enrolled in that package which again comes with Benefits that are specific there for students right and uh Mattia asked um uh in addition to International students does TD Provide support for temporary workers as well yes we definitely support um temporary workers as well which is a great question and so um when I talk about that new to candada banking package if you came in and applied for that one of the things that you would show us is the proof of status and so this would differentiate between are you a permanent resident or in this case a temporary worker but temporary workers absolutely do qualify for that package and we want to support them in a meaningful way and still the offers for the checking account the savings account being able to apply for a credit card all of that is open to Temporary workers awesome thanks um priia deep asked how can I transfer money from India to Canada after landing yeah that's a great question and so that can be done um through various ways now the thing about um bringing money in is a lot of times that's actually initiated from the bank where you would be sending money so um potentially that would be need to done uh need to be done through the Indian bank but as I mentioned there's our TD Global transfer platform um where you can send money back to India if you need to but to initiate it you can go on the branch or call in and um one of the ways that's traditionally done globally is through something called a wire transfer and so um we at your TD account can definitely accept a wire transfer from somewhere else globally and so that's one piece of information that we can give you what is your account number there's something called a swift code that is unique to every bank so we can provide that information and that's most likely what you would take to the bank in India to be able to send those and have them land in your specific specific TD account right um a few questions here uh about tax savings but uh n Beth asked what is a tfsa account yeah that's a great question so I had gone over savings accounts and as we get more specific there's different types of ones and so um one of the bigger ones in Canada that just launched um in 2009 so um seems like a while ago now but when it comes to banking products it still seems very new is called a tax-free saving account and the biggest benefit of it is right there in the name it's taxfree and so in Canada when you earn income or make money on certain Investments some of those um can still be taxed by the government but if you have a tax-free savings account what it means is the funds that are in there and so if you grow your savings in an account like this you actually have the option to within that type of account say invest in a mutual fund or purchase them stocks when those funds grow and you go to take them out you're not going to pay any taxes on that growth that you've seen now I would say one other type of account to contrast it with or touch on is called an RSP or a registered savings plan and that is an account where um while the funds are in that account they are growing tax-free but when you go to make a withdrawal from it you will pay taxes whereas you're not going to on a tax-free savings account and so that's something that there's some specific um benefits and constraints that will be different for every person for example both of these accounts have called a contribution limit so you can't grow unlimited um tax-free savings the government has set an amount that you can contribute every year to this type of account so I would recommend doing a bit more research but definitely is something that we find especially as people are trying to grow their savings for first time is a really useful type of account to open um based on those tax savings right and on that uh oana asked how can I decide where to invest my money to grow savings yeah that's a really good question um you you've heard me say it before I'll say it again at the end of the day I'm going to recommend talking with a TD advisor because upen your situation would be different than mine different than Riley's and the thing we can do is make the best recommendation when we know your financial goals when we know the full Financial picture and talking with an advisor going through that Discovery um conversation is what's most beneficial for that now that being said if you are looking to do some research ahead of time or even you know um want to look on your own on our website for td.com we have many different um you know research resources we've got some really um interesting videos as as well as PDFs that you can read up on to go over in more in depth some of those details of different accounts I'm talking about different savings accounts and um it's worth mentioning specifically for if you're on the TD site and you go to new to Canada we have many of those resources available in up to 14 languages so if it's something that you're looking to get those Basics and potentially you're speaking Hindi or Punjabi or Japanese whatever it may be we do have resources in different languages which provides um very helpful when you're getting to know these terms awesome um Olu FEI asked what documents are required for a newcomer to open the bank accounts yeah that's a really great question so um I had touched on it earlier but depending on your status um one of the things that you would want to bring to an appointment is your proof of status and so this can look like a permanent resident card um a confirmation of a permanent resident so um that's Immigration Form 529 to if you're familiar with it or your temporary worker permit and so in addition to that you'll also want to bring a piece of personal identification and so for us that would look like is it a valid passport um potentially a Canadian driver's license if you already have that or even a government of Canada identification card now those are the main ones individuals Ed especially the valid passport probably the most common that's not the exhaustive list and so if you do go into a TD Branch um bring identification that you have and they can see if what you've brought with you can qualify for the list but again I would say the main two are what is your proof of status and what is your personal identification those are going to be the most beneficial documents great thanks um uh Clive Adrian asked in chat that well he said I'm an entrepreneur wish uh to know the step-by-step method to take credit and launch a business is that's something that TD offers yeah so it's definitely something that we support um as I had mentioned earlier you know things like small business banking while I'm not an expert myself TD does have a lot of those experts and so even in the question um it was alluded to that there are opportunities where even if you potentially don't have the funds yourself to launch a business a lot of the times um you might be able to get a business loan or access to credit that can help um entrepreneurs and so as I mentioned before uh in this situation I would book a an appointment online and you would indicate that it's for looking to launch a business and so you will get connected to one of our small business advisors and they can go over plenty of options um we definitely have promotions available for um you know new to bank new TD customers whether that be on cash bonuses or interest rates that are very competitive to help formulate the plan and um I say talk with somebody because as we know even with entrepreneurs there's as wide range as with customers on you know some people want $5,000 to start a business others might be looking for 500,000 and those are very different conversations and so if you talk with somebody they can find what's the solution that's right for you right um ashutosh asked in chat um are the financial advisor Services by TD free of cost yeah that's a really good question um and they are which I think is super important and so um with TD uh especially in the industry in the last few years we really want to make sure that there are um transparency around the fees that you'll be paying and so when I say the they the fees are um free what I mean is when you go into a bank and talk with a TD advisor and Performing that Discovery conversation and opening a checking account none of that will cost you any money now there are fees that can be associated with banking whether eventually it's a monthly fee for a checking account or certain Investments you make if you purchase a mutual fund there are mutual fund fees and the adviser will clearly explain to you what those fees are and make sure to get your consent because at the end of the day we're not going to do anything without you agreeing to it first and so I encourage you to make sure you understand all of the fees that are associated with accounts but um again to be clear into the question coming into a branch getting a plan talking with an advisor there is no cost to get started with TD awesome um Eduardo asked if there's op banking options with uh no or low fees for transactions yeah so there definitely are now there's different kind of um checking accounts um there's you know a minimum checking account which again comes without a fee even savings accounts there's some that don't have fees um and it's maybe a lower um uh lower interest rate or um a lower um you know cash bonus that you're going to be get but the end of the day um we do have um no fee accounts and so um there's also accounts as I mentioned where if you're new to Canada or new to bank um in example the new to Canada it actually is um free for the first year for the unlimited checking account which usually has a monthly fee of about $16 associated with it but at the end of the day there is something called a a minimum check account that has a very low monthly fee and so if that's what's right for yourself the differences in some of these accounts would be how many transactions they come with and um if you go over those limits there can be a fee for each transaction so again it's very dependent on what you're looking to use the account for um other accounts like that unlimited checking account I mentioned if you um keep a certain daily balance sometimes those fees can be waved as well so it all comes down to talking to to an advisor and um figuring out ways to make sure that if you're looking to avoid fees um it's there's potential to do that great um Manos asked uh if they could use their card uh their TD Banking card in different countries yeah that's a that's a great question and um luckily the answer is yes whether that is your TD um debit card or your credit card um those are definitely accepted and used globally and um that's where some of those fraud alerts can come in handy where potentially if you're always in Canada and a transaction pops up in a different country you might get a text or a message from TD wanting to make sure that that transaction is legitimate um which you know I I view as peace of mind but if it is um you can continue to use it in those different countries and um depending on where you are the that's where an exchange rate will come into a play so um you know you're going to TD is going to transfer the funds into that country currency and you'll pay an exchange rate which can be above or below um depending on where you are globally but it definitely is able to be used around the world right I think that helps to answer uh John's question which says he says that he has a uh bank account in his home country in US dollars is he able to deposit from that account into Canadian dollar TD account yes you absolutely are John and um for those individuals who potentially reside or coming from the US or um I know a lot of people especially Canada you know being right beside the US that's somewhere people travel to frequently we actually offer something called a borderless a plan uh plan which is a um a US dollar checking account and so you can have funds in there where you can start to um potentially save money on some of the exchange rates or if you're traveling in the US frequently um can be used as US dollars as well and so that's something the um borderless plan I would recommend checking out if anybody feels they would frequently be in the US that can be helpful as well as we also have us doll credit cards as well um for individuals again who are going to be frequently in the US awesome um VJ asks how can I access and activate online banking yeah that's a great question so um the easiest way to activate or really access it is to go onto um our public site and look for Easy Web so if you also just Google TD EasyWeb if you go to easyweb.td.com that will give you the login screen and if you already have set that up potentially with an adviser at the branch you can put in your card number your password and um you're Off to the Races or um you can register on that site if it's for your first time and there's lots of very helpful digital tutorials we have as well that can walk you through both the registration process or all of the different transaction you might do online as I was talking about earlier it might be an interact e transfer to a friend it could be paying a bill it could be wanting to just look at your balances um changing a password there's lots of different things you can do online and we do have support for helping you do all of those different transactions awesome got a question here about the difference between secured and unsecured credit cards yeah that's a really good question so um the difference is a secured credit card means that you have shown proof of funds or we have secured um the funds to be able to lend out to you originally and so in this example a secured credit card might be a limit of $500 where you have the $500 in your checking account and so we will provide you a credit card that you can use like a credit card so make purchases on and then pay back the monthly balance but based on um the secured funds already being available whereas an unsecured card is are getting that say $500 credit limit without having those funds available in the first place and so um they're different options they can have different uses and purposes um and I think that for a lot of individuals if you don't have a credit history potentially a secured credit card is a way to get started with a credit card and build up the um credit history that might lead you to having an unsecured credit card in the future great great thanks um anasi asked what are the steps to opening uh a Canadian bank accounts yeah that's a great question um depending on um if you're already here I would say coming into a branch is going to be the best thing and bringing that proof of status a piece of identification and just asking the advisor saying I'm here I'd like to open a Canadian checking account and they can walk you through all the steps doing that Discovery finding out which account is right for you um there's also potential to open it online and so if you do go to td.com you would look on products and hit bank accounts and then there is an online application an ID verification that you can go through and it will take you step by step through the process um it would feel probably similar to a lot of applications you may have done before where especially if you're opening um simply a checking account we're going to get some of your personal information understand how you might be intending to use that account and then we can go through the application process right great um question here about the difference between debit and credit cards um in terms of rewards and protection yeah that's a great question so um a debit card is attached to your checking or savings account and so the highlevel difference is if you make a $10 purchase on your debit card those $10 of funds will come out of see your checking account right away if you made a $10 purchase on your credit card um the funds haven't left your account yet you've made that purchase on credit and that's when we talk about to repay it you would move the funds from your checking account to your credit card um either right away or you know latest at the end of the month to be able to make that purchase now uh as was noted in the question there are differences in rewards um for doing that credit cards um typically have um richer reward programs some of those travel and um cash back um offers or rewards are only available on a credit card whereas it wouldn't be the same for a debit card um and I think that there was one more piece of the question how was the rewards that differ and sorry can you remind me Riley yeah exactly the rewards okay it was the rewards yeah so um you'll see online what the rewards are um but again typically um at TD and most banks more rewards are going to be offered for a credit card um than a debit card but it's still just a preference of choice um I know lots of individuals who prefer um the oh the security was the piece so um in terms of security that's going to be the same for both of those accounts and so um TD um is partnered with something called cdic or the Canadian Deposit Insurance Corporation and so what that means is at the end of the day your funds with TD are extremely secure if there was ever a fraud event um when it comes to a credit card or debit card if there's a purchase that you don't recognize on your account reach out to TD um talk to us and at the end of the day we're going to make sure you're not responsible for purchases um that are made you know not on your account if a fraudulent event has happened and again we are partnered with um cdic so if for any reason that there was an event and funds weren't available you know cdic can um be there to help you as well awesome and is there differences in the fee structure for debit cards and credit cards um yeah so that's also a good question so the debit card is included with your checking or savings account so you would just be paying the fees for that account it's not going to be separate for the card itself um and then credit cards um we probably haven't touched on yet but as each of them have different rewards they also have different fees and so there's a variety of credit cards that have no annual fee if that's important to you at the beginning with the basic benefits and some of the ones that have higher Rewards or points um do come with higher Annual fees as well so encourage you to um make that a part of the research and if you're talking to a TD advisor um ask and understand what is the annual fee for this card um there's also lots of options again I know a lot of cards sometimes or situations you can wave the fee for say the first year on a card um so encourage you to ask questions about that as well awesome and um along that sort of line of questioning Paulin asked um do these accounts or cards have a maximum transaction cap yeah so some of them do um for a credit card there wouldn't be for example a maximum transaction cap but there's a credit limit so it's a dollar amount that um you wouldn't go above but for debit cards um certain checking accounts certain savings accounts do have transaction limits um and there's others that don't you know we have a TD unlimited checking account and as it says in the name a big feature of that account is its unlimited transactions and so um that can be a part of your research to look at how many transactions do I think I would need on a monthly basis and um pick an account that um you know aligns with your behaviors right awesome and uh as a last question um uh this came in uh before the webinar but I think it's a good one what are a few things that um new arrivals should know when setting up their finances in Canada like what are the few key uh yeah things yeah that's a great question um I think that it's worth knowing a lot of the things that we've gone over today and we have resources online to kind of remind you but what some of those Basics are for the products in terms of what's a checking account what's a savings account um um it's really important to remember you know what credit scores are and being able to build that up and um increase your credit history and I think that it's um one thing to also note is it's about building habits and behavior so none of this changes overnight and it's something that you want to do month over month year over year and so creating the financial plan that's based on your goals in talking to an advisor um and again this is frankly it's whether at TD um whether you go with another institution uh I think the biggest thing I would implore on you is to talk with somebody who is a professional and build out a plan because that's GNA really help you be able to check in and say am I on track with meeting my goals or do we need to make adjustments awesome thanks so much um really appreciate your time today Tyrone really appreciate everyone that joined us in the webinar uh we're super thankful that you're able to share this information with us um um in terms of next steps everyone should receive an email uh tomorrow with the slides to the webinar where you'll be able to go over some aspects of this presentation that maybe you want to uh uh pay more attention to or go over more detail um and yeah we really appreciate everyone's time today Tyrone will hand it off to you for uh any last closing thoughts yeah no especially just a huge thank you again for everybody who has tuned in at the end of the day you're taking time out of your busy day to invest in yourself to understand um what banking is like in Canada and so I hope it's Prov proved beneficial and I would just encourage you again to reach out whether it's calling going online or probably best case scenario coming into a TD Branch if you have any more specific questions or you're wanting to open that first account talk to somebody um you know I really do think it makes all the difference and so a good luck to everybody here on their financial Journey as well great well huge thank you to you Tyrone huge thank you to TD um and stay in tuned for more of these chat everyone uh have a great day have a great day everybody