The Best Bank Accounts For Newcomers To Canada

As a new Canadian immigrant, you may want to check out the latest offers from the Big 6 Canadian banks.They offer free cash bonuses if you fulfill a few requirements. You can try any of all of them to maximize your earnings if you have the means. There are other smaller banks with fewer restrictions which I will also share here soon.

First, the "Big Six" Canadian banks are:

• Royal Bank of Canada (RBC)
• TD Canada Trust (TD)
• Bank of Montreal (BMO)
• The Bank of Nova Scotia (Scotiabank)
• Canadian Imperial Bank of Commerce (CIBC)
• National Bank of Canada (NBC)

These banks have been serving Canadians for over a century and have a wide network of branches and ATMs across the country. They also have special programs for newcomers that offer various benefits and incentives, such as:

• No monthly fees or minimum balance requirements for up to 12 months
• Unlimited transactions and free e-transfers
• Free credit card with no annual fee and no credit history required
• Free safety deposit box and cheque orders
• Free international money transfers and multi-currency accounts
• Access to financial advice and investment services

To be eligible for these programs, you need to be a permanent resident, foreign worker, or international student who has arrived in Canada within the last 5 years. You also need to provide proof of identity and status, such as your passport, landing papers, or study permit.

Here are some of the latest bank accounts offered by the Big 6 Canadian banks for newcomers:

• RBC Newcomer Advantage: This program offers a choice of three chequing accounts with no monthly fees for up to 12 months. You also get a free credit card with no annual fee, a free safety deposit box, and access to RBC Rewards.
• TD New to Canada Banking Package: This package offers a chequing account with no monthly fees for up to 6 months. You also get a free credit card with no annual fee, a free safety deposit box, and access to TD Global Transfer.
• BMO NewStart Program: This program offers a performance chequing account with no monthly fees for up to 12 months. You also get a free credit card with no annual fee, a cash bonus of up to $300, and access to BMO MoneyLogic.
• Scotiabank StartRight Program: This program offers a preferred package chequing account with no monthly fees for up to 12 months. You also get a free credit card with no annual fee, a cash bonus of up to $300, and access to Scotia iTRADE.
• CIBC Welcome Package: This package offers a smart chequing account with no monthly fees for up to 12 months. You also get a free credit card with no annual fee, a free safety deposit box, and access to CIBC Global Money Transfer.
• National Bank Newcomers Program: This program offers an advantage chequing account with no monthly fees for up to 12 months. You also get a free credit card with no annual fee, a cash bonus of up to $350, and access to National Bank Financial.

These are just some examples of the many bank accounts available for newcomers to Canada. To find the best one for you, compare the features, fees, and offers of different banks and choose the one that suits your needs and goals.

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