Newcomers to Canada should research different banks to find the one that meets their banking needs.
No Credit History Required
Some banks offer accounts designed explicitly for newcomers without requiring a Canadian credit history.
Bring necessary identification documents, such as a passport, study permit, or work permit, to open the account.
Proof of Address
Please provide a proof of address, such as a utility bill, rental agreement, or letter from your school or employer.
Checking or Savings Account
Choose between a checking account for daily transactions or a savings account for saving and earning interest.
Link a debit card to your account, allowing you to make purchases and withdraw cash at ATMs.
Online and mobile banking
Choose a bank which is easy-to-use online and mobile banking options so you can easily manage your finances.
Consider banks that provide advantageous currency exchange rates when transferring money from your home country.
Look for banks that offer customer support in your preferred language to ease communication.
Fees and Charges
Compare the account fees, transaction charges, and other associated costs of the accounts with other banks.
Selecting a bank or ATM in close proximity is crucial for effortless accessibility to their services.