With the new Global Credit Connect solution, new RBC customers will have the opportunity to use their international credit history in Canada, Royal Bank of Canada said in a press release.
Moving to a new country brings many challenges. Establishing a solvency profile is essential, especially when buying a house or a car, which usually requires a bank loan.
RBC reminded us that newcomers cannot use credit histories from their country of origin. They are therefore deprived of credit products and solutions when they arrive in Canada.
This partnership with Nova Credit enables them to “make a successful financial transition to Canada “, said Janet Boyle, senior vice president, Home Equity Financing & Newcomer Strategy at RBC.
RBC uses Nova Credit ‘s Credit Passport® product , offering “real-time, standardized credit history conversion for Global Credit Connect “.
Eligible customers will be able to complete, via Nova Credit, an online application using credit information from their home countries, RBC added.
With this new product, RBC once again demonstrates its commitment to newcomers. The financial institution offers other financial products to help newcomers.
Understanding the Canadian financial system is essential to getting your new life in Canada off to a good start. Here are our best resources for newcomers.
Steps to take include :
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