Canadian banks impose services on foreigners
Expensive insurance and products with high commissions are more likely to be sold to an immigrant.
The Consumer Financial Protection Agency of Canada (FCAC) recently published a report on a study through mystery shoppers of the banking system. It indicates that so-called "systemic racism" has been rife in Canadian banks for years.
There are many cases where the most unpopular, expensive, even simply unnecessary banking services, unprofitable products with high fees are mostly imposed on foreigners. The report indicates that bank employees may not even ask about the income and purpose of the purchase of credit products — although such questions are prescribed by the rules.
More often than not, the problem is not with bank employees imposing products, but with the conditions that management creates for them. By imposing sales plans, banks force their employees to sell unpopular services at any price. The most vulnerable in this situation are immigrants, who have little knowledge of what opportunities are available and what can be purchased other than what a particular clerk voiced.
To avoid being in this situation, remember that before contacting the bank to study in detail the available services, compare them with each other and find out what the conditions will be beneficial to you personally.