What are some good Canadian Banks for new immigrants?
There are several Canadian banks that offer services tailored to the needs of new immigrants. While the “best” bank for you may depend on your specific requirements and preferences, here are some well-known banks in Canada that are often recommended for new immigrants:
- Royal Bank of Canada (RBC):
RBC offers a dedicated program called the RBC Newcomer Advantage that provides financial products and services designed for newcomers to Canada. They offer a range of services, including banking, credit cards, mortgages, and investment options. RBC also provides resources and guidance on various aspects of settling in Canada, such as housing, education, and employment. - Toronto Dominion Bank (TD):
TD Bank has a New to Canada program that offers banking solutions and support to newcomers. They provide access to various banking products, credit cards, and personalized financial advice. TD Bank has multilingual staff and resources to assist new immigrants in multiple languages. - Scotiabank:
Scotiabank has a special program called the Scotiabank StartRight Program, specifically designed for newcomers to Canada. They offer a range of banking services, credit cards, and personalized financial advice. Scotiabank also provides access to newcomer banking packages, which may include benefits such as no monthly fees for a limited period. - Bank of Montreal (BMO):
BMO offers services tailored to the needs of newcomers, including bank accounts, credit cards, and access to their NewStart program. The NewStart program provides personalized financial advice, guidance on building credit history, and resources to help newcomers settle into their new lives in Canada. - CIBC (Canadian Imperial Bank of Commerce):
CIBC has a Newcomers to Canada Program that offers banking solutions, credit cards, mortgages, and other financial services for new immigrants. They provide assistance in setting up accounts, transferring funds from your home country, and offer resources to help you navigate the Canadian financial system.
It’s important to note that the offerings and benefits provided by each bank may vary, so it’s recommended to research and compare the services, fees, and benefits offered by different banks to find the one that best suits your needs as a new immigrant. Consider factors such as accessibility, fees, account options, customer service, and additional services or resources that may be important to you.
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