Save your money in the best and safest bank of Canada

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.

The ‘Big Five’ banks in Canada all (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.



BMO is Canada’s oldest bank and older than Canada itself! It has 200 years’ experience in helping  newcomers settle and get their new life started in Canada. Their NewStart program offers newcomers arrived in Canada within the last five years 12 months free banking with no minimum balance required as  well as a free safety deposit box, unlimited electronic and Interac E-transfers.

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HEADQUARTERS- Montreal, Quebec, Canada

FOUNDED- 23 March 1817; 202 years ago in Montreal, Lower Canada

TYPE- public

Capital Markets:


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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HEADQUARTERS 44 King St,  WestToronto ON, M5H 1H1

TYPE– public

FOUNDED- 30 march 1832



The National Bank of Canada is the sixth-largest commercial bank in Canada. It has branches in most  provinces, although it does not have as many branches as its competitors outside major urban centres outside      the province of Quebec. If, however you are planning on moving to Quebec, National Bank is in fact the largest  bank in the French speaking province (where it is called Banque Nationale du Canada). National Bank offers      newcomers a tailored package of services valued at up to $600. Newcomers who choose to go with National  Bank will also benefit from a year of access to their Assistance service for newcomers.

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HEADQUARTERS- Montreal, Canada


TYPE- public


4) CIBC (Canadian imperial bank of commerce)

CIBC as it is more commonly known. Since then CIBC has grown considerably and has a proud reputation of  helping businesses and communities across Canada and around the world grow and prosper. More recently. CIBC has positioned itself as a bank with superior customer service. This is illustrated by the fact that CIBC will guarantee that each client of theirs is met by an advisor or representative at a time and location that’s convenient for them

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HEADQUARTERS– Toronto, Canada

FOUNDED- 1june, 1961

TYPE- public

5) HSBC Bank of Canada

HSBC Bank Canada is part of the global HSBC network, with a footprint in many countries across the globe. Their 130+ branches are predominantly located in Canada’s major cities. They offer a service called “Global                   view”, which is a big draw for people who already have HSBC accounts in other countries, and makes accessing and transferring their money between their personal HSBC accounts worldwide simple.                                  The “HSBC Canada Newcomers Program” offers a range of services and savings specifically tailored to newcomers and is valued up to $700.

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HEADQUARTERS-  85 West Georgia Street Vancouver, British ColumbiaV6C3E9


TYPE- Subsidiary of HSBC


Source: moving to canada

Published by- Antika