About bank
Habib Canadian Bank (HCB) is a Schedule II bank in Canada and part of the Habib Banking Group's international network. Rooted in traditional banking values set by its parent bank, Bank AG Zurich, HCB offers a comprehensive range of personal and commercial banking services. With a commitment to providing highly personalized service, HCB caters to the needs of customers from the Muslim community and beyond, spanning four continents and eight countries. Operating subsidiaries ensure that HCB maintains its corporate motto of "personal service with confidence" while offering banking solutions tailored to the diverse needs of its clientele in Canada and abroad.
Key features
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Wholly Owned Subsidiary. Habib Canadian Bank operates as a wholly owned subsidiary of Habib Bank AG Zurich, leveraging the global expertise and resources of its parent company.
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Diverse Product Portfolio. The bank offers several products including GICs, mortgages, and various types of accounts to meet the financial needs of its customers, whether personal or commercial.
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Convenient Mobile App. HCB provides a convenient mobile banking app, enabling customers to manage their accounts, conduct transactions, and access banking services on the go, enhancing convenience and accessibility.
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Member of CDIC. As a member of the Canada Deposit Insurance Corporation (CDIC), deposits held with Habib Canadian Bank are eligible for insurance coverage, providing customers with peace of mind and confidence in the safety of their funds.
Pros and cons
Pros
Cons
Habib Canadian Bank requirements
While there is no official information available on the specific eligibility requirements for Habib Canadian Bank, here are some general criteria that are typically considered by banks:
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Age. Applicants must typically be at least 18 years old to open an account or apply for financial products such as loans or mortgages.
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Residency Status. Applicants may need to provide proof of Canadian residency or citizenship, although some banks may also offer services to non-residents.
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Identification. Valid identification such as a government-issued photo ID (e.g., passport, driver's license) is usually required to open an account or apply for banking products.
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Income and Employment. Depending on the type of account or product being applied for, applicants may need to provide proof of income and employment status.
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Credit History. Banks often consider the applicant's credit history when assessing eligibility for mortgages, or other credit products.
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Minimum Deposit. Some accounts or products require a minimum initial deposit of at least $2,000 to open, so applicants should be prepared to meet any specified minimum deposit requirements.
Access on the go
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Convenience. With HCB Online Banking, customers can perform various banking tasks such as paying bills, checking balances, and transferring funds between their own HCB accounts from the comfort of their home or office. This 24-hour access allows customers to manage their finances anytime, anywhere.
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Easy Registration. Registering for HCB Online Banking is a simple process. Customers can request access to the online banking platform from their relationship manager at the time of opening their account. There are no additional forms to fill out or sign. Existing customers who wish to sign up for online banking can easily do so by contacting their branch and speaking with their relationship manager, who will assist them through the registration process.
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E-Statements. Customers can opt to receive electronic statements for their accounts, providing a convenient and eco-friendly way to access account information.
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Account History. HCB Online Banking allows customers to view their account history, including past transactions and statements, helping them keep track of their finances more effectively.
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Authenticated Swift Messages. The online banking platform enables customers to securely send and receive authenticated Swift messages, facilitating international transactions and communication.
Habib Canadian Bank products
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Guaranteed Investment Certificates (GICs) for Individuals and Businesses. HCB provides GIC options tailored to both individual and business customers, offering competitive interest rates and flexible terms to help customers grow their savings securely.
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Residential and Commercial Mortgages. HCB offers financing solutions for both residential and commercial properties, providing competitive mortgage rates and personalized service to help customers achieve their property ownership goals.
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Student Direct Stream GIC. As part of its commitment to supporting education, HCB offers a Student Direct Stream GIC program designed to help international students secure the funds required for their Canadian study permits. This program provides a streamlined process for obtaining a GIC, helping students fulfill the financial requirements for studying in Canada.
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Personal and Business Lines of Credit. HCB provides lines of credit for both personal and business purposes, offering flexible access to funds for various expenses such as home renovations, business expansion, or other financial needs.
Habib Canadian Bank services
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Trade Finance. HCB offers trade finance services to facilitate international trade transactions for businesses, including import and export financing, letters of credit, and trade documentation services.
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Mobile App. HCB provides a user-friendly HBZ mobile banking app that allows customers to conveniently access their accounts, perform transactions, and manage their finances on the go. The mobile app offers features such as account balance inquiries, fund transfers, bill payments, and mobile check deposit.
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Online Banking. HCB's online banking platform enables customers to access their accounts, conduct transactions, and manage their finances securely over the Internet. With online banking, customers can view account balances and transaction history, transfer funds between accounts, pay bills, set up account alerts, and more, all from the convenience of their computer or mobile device.
Which associations does Habib Canadian Bank belong to?
Habib Canadian Bank is a member of the Canada Deposit Insurance Corporation (CDIC) and the Canadian Bankers Association (CBA). These associations play important roles in the Canadian banking industry, with CDIC providing deposit insurance protection to customers' deposits held at member institutions, and CBA serving as the voice of Canada's banking industry, advocating for policies and regulations that promote a strong, stable, and competitive banking sector. As a member of these associations, HCB demonstrates its commitment to upholding industry standards and best practices while providing quality banking services to its customers.
Bank reliability
Habib Canadian Bank has established itself as a reliable financial institution, offering a range of banking services and products tailored to meet the diverse needs of its customers. As a member of the Canada Deposit Insurance Corporation (CDIC) and the Canadian Bankers Association (CBA), HCB adheres to industry standards and regulations, providing customers with peace of mind regarding the safety and security of their deposits. With a solid foundation in banking tradition and a commitment to providing highly personalized service, HCB has earned the trust of its clientele, demonstrating reliability in delivering innovative banking solutions and maintaining financial stability over the years.
Editorial opinion
Additional resources
- HCB Online Banking
- How to PayOff HCB Debt
- HCB Customer Reviews
