How to open an account in a Canadian bank and apply for a credit card?

There are mainly "five big banks" in Canada. Which bank's service is best for you?

Royal Bank of Canada

It is the largest bank in Canada, covering the whole country with more than 4,200 branches. For friends who have just arrived in Canada, there are different choices, PR, students and foreign workers. Students are more suitable for RBC unlimited student account. You can get a gold card or MasterCard for free. However, sometimes a monthly handling fee of $65,438+$00.95 may be charged.

Dominion Bank of Toronto

If a new arrival in Canada or a new immigrant opens a checking account, the first six months are free. You can also apply for a credit card to establish your credit in Canada, which is needed for applying for a loan in the future. They provide students with checking accounts and credit cards for free.

Note: TD cannot open an account remotely, but it can make an appointment online before opening an account. The information on the website is particularly clear, telling you which documents to bring according to your choice.

Scotiabank, Scotiabank

The third largest bank in Canada, with more than 4,000 branches. Although there is no special package for new immigrants, there are many different account types. The basic monthly fee is only $65,438 +00.95. If the account balance is always above $3,000, this fee can be refunded to you. Student account is free, and you can transfer money unlimited every month.

bank of montreal

The earliest banks in Canada provided accounts for new migrant workers or international students. Including free checking account and free MasterCard for the first 12 months.

Imperial Commercial Bank of Canada (CIBC)

CIBC's Intelli account is free for the first year and can be transferred without restriction. If you are a publicist, you can get a discount of $55 by using the bank safe. There is no need to pay any extra fees for using bank cards during school.

credit card

For international students who have just arrived in Canada, it is not easy to apply for a credit card, because there is no credit accumulation, but it is relatively easy to apply for an RBC credit card. When applying for a credit card, you can consider interest, discount or cash rebate, whether there is an annual fee, and what will happen if you don't repay on time.

Application conditions:? 1, passport, social security card/Canadian driver's license 2, proof of study, home address and telephone number are particularly important suggestions: avoid excessive use of credit cards, and avoid using East Card to repay West Card, which will have a great impact on personal reputation in case of failure to repay on time one day!

ATM fee:? When using ATMs other than bank cards (for example, ATMs in restaurants and bars) to deposit or withdraw money, the bank where China bank cards are located and ATM machines will deduct certain handling fees.