Compare bank account packages designed for newcomers to Canada.
Last verified: · Sources: IRCC
RBC
Eligibility: Permanent residents within 12 months of arrival; temporary foreign workers within 48 months; international students within 12 months
TD
Eligibility: Within 5 years of becoming a permanent resident or obtaining a study/work permit
Scotiabank
Eligibility: Within 5 years of landing in Canada
BMO
Eligibility: Within 5 years of landing in Canada
CIBC
Eligibility: Within 5 years of becoming a permanent resident or landing (work/study permit holders may qualify)
Desjardins
Eligibility: Within 3 years of arriving; primarily available in Quebec and Ontario
National Bank of Canada
Eligibility: Permanent or temporary resident with a valid permit; in Canada 5 years or less
Simplii Financial
Eligibility: Open to any Canadian resident; no minimum balance required
Tangerine
Eligibility: Open to Canadian residents; SIN required
EQ Bank
Eligibility: Canadian resident 18+ with a SIN; no Canadian credit history required
Wealthsimple
Eligibility: Canadian resident with a SIN; newcomers welcome, no credit history needed
Bank products and offers change frequently. Visit each bank's website for current details. This is not financial advice.
Services most newcomers need in their first months
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