Banking in Canada is reliable and convenient, though not always free. With some research, you can find out which is the best bank in Canada for you.

It’s becoming more common to offer free banking for your first year, so shop around and don’t be afraid to say you will bring your business elsewhere.

Before you decide on a preferred bank, take into consideration which branches are convenient to your home and place of work, what their opening hours are, and who offers the best credit cards in Canada for your needs.

International money transfers to your new account

First things first: you’ll (hopefully!) have some money you’ll be looking to transfer into your new account.

CurrencyFair and TransferWise are two of the best ways to arrange an international money transfer, and both companies are offering discounts to ProICC customers.

Which are the best bank accounts in Canada for me?

The ‘Big Five’ banks (RBC, BMO, TD, CIBC, and Scotiabank) have programs for newcomers. These come with special newcomer incentives, so be sure to look into them. The best bank in Canada for you will depend on your specific needs.


The Scotiabank StartRight® Program allows you to open a bank account, and transfer up to $50,000 into it, before you arrive in Canada.

For those living and working in Canada, you’ll receive a $100 bonus when you open an eligible account. You can also avail of a variety of products and services tailored to newcomers


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