2013 Pre-Arrival webinar for new graduate students at UBC: banking and cell phone information.

1. Banking &
Cell Phones
Pre-Arrival Webinar
Tues July 23, 2013. 10-10:30am PST
Wed July 24, 2013. 3:30-4pm PST

2. Banking

3. Introduction
• Banks vs. Credit Unions
• Why do I need a bank account?
• Types of Accounts
• Transactional Information
• Debit Card & Credit Card
• Convenience Banking
• Next: How to Setup

4. Banks vs. Credit Unions
Banks Credit Unions
Pros • More loan, investment,
and account options
• Better accessibility
• Better online banking
• More robust customer
service at any time
• Member = part owner
• Higher interest rates
• Fewer fees
• More personal customer
service
Cons • More maintenance fees
• Commonly profit-driven
• Small size = fewer
branches and ATMs
• Lower quality online
banking

5. Why Do I need a Bank Account?
• To transfer money from your
home country
• To receive money (scholarship,
pay from work, etc)
• To pay for expenses
• More secure than carrying
around cash

6. Types of Accounts
Chequing Savings US Account
• Most commonly used
• All debit transactions
• Withdraw from ATM
• Pay bills online
• Send money
• Issue cheques
• Generates no interest
• Separate account for a
different purpose
• Generates interest
• For people who do a
lot of transactions in
US dollars
• Banks vs. Credit Unions?

7. Transactional Information
Cash Access Pay Bills Cheque Cashing
• In branch
• ATM
• Third party merchants
• There are limits!
• Online banking
• In branch
• Directly with the
company
• Automatic pre-
authorized payments
• Holding policy
* Plan big purchases in advance!

8. Online & Mobile Banking
• Manage accounts
• Pay tuition, utilities
• Send money
• Check transaction history
• Text / app banking
• Banking on the go
• 24/7 access

9. Debit Card
• Key to your banking
• PIN security to identify you
• Withdraw cash from ABM
• Pay for purchases directly –
instant debit from account
• Online/mobile banking
Limited online purchase
capability

10. Credit Card
• Helps you establish credit history
• Pre-set credit limit
• Amount spent accumulates, paid off
once a month
• Online purchasing
• Emergency cash withdraw with
interest charges
* difficult for international students to get a credit card

11. Potential Fees & Charges
• Withdrawing cash from other banks’ ATM
• Withdrawing or debiting your Savings
account directly
• Non-Sufficient Funds (NSF)
• Going over monthly debit transactions
allowed
• Paper statements*
• Monthly maintenance fees

12. Next: How to Setup an Account
1.Go to a bank branch nearby
2.Bring Passport, Study Permit, Proof of Address
3.Make an appointment…and that’s it!

13. Cell
Phones

14. Outline
• Cell Phones in Canada
• Price Overview
• Available Plan Options
• Approximate Price Ranges
• How to Set-up

15. Cell Phones in Canada
• Why so expensive?
• ‘Local’ vs. ‘long-distance’ (not just about area codes!)
The Big 3 Companies Independent Providers

16. Contract vs. No Contract
Pros • Reduced price on the handset
• Usually more options for plans available
• Options for family package at reduced cost
Cons • Expensive penalty when terminating
• Significant financial commitment
• May not be able to change your handset

17. Contract vs. No Contract
Pros • Switch providers or stop using at any time
• Buy a phone with no obligations or costs
• Prepaid – control how much you want to
spend, no surprises.
Cons • Cost per minute more expensive
• Pay upfront for cellphone
• Fewer plans
• Prepaid – minutes expire, need to top-up

18. Price Overview
Free High Cost/
Max Options
Med Cost Low Cost/
Few Options

19. Available Plan Options
Provider Voice only Voice and text Voice, text
and data
Everything
Low Cost /
Few Options
20 cents/min
(pay-as-you-go)
$20-$30 $30-$40 $40+
Med Cost prepaid / pay-as-you-go
(monthly fees apply)
$25-$50 $35-$75 $75+
High Cost prepaid / pay-as-you-go
(monthly fees apply)
$25-$35 $45-$80 $80+

20. Things to Ask at the Phone Shop
 Trial Period
 Data and Messaging Services
 In plan vs. unlimited minutes
 International Text
 Upgrade, Family / couple options
 Start of school year promotions in September
 SIM card transferability

21. Things to Ask at the Phone Shop
• Bottom line – what do you finally pay?
• Policies on Terminating Contracts
• Hidden fees, System Access Fees
• Over-usage fees
• Data limits
• Roaming charges

22. Want More Details?

23. Thank you!
& Questions?