{"id":343811,"date":"2025-10-12T08:08:00","date_gmt":"2025-10-12T12:08:00","guid":{"rendered":"https:\/\/mp-2702.milesopedia.dev\/news\/expatriates-which-bank-to-open-a-bank-account-in-canada\/"},"modified":"2026-05-08T16:33:43","modified_gmt":"2026-05-08T16:33:43","slug":"expats-which-bank-to-choose-to-open-a-bank-account-in-canada","status":"publish","type":"post","link":"https:\/\/mp-2702.milesopedia.dev\/en\/news\/finance\/expats-which-bank-to-choose-to-open-a-bank-account-in-canada\/","title":{"rendered":"Expats: Which Bank Should You Choose to Open a Bank Account in Canada?"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-building-a-credit-history-as-an-expat-in-canada\">Building a Credit History as an Expat in Canada<\/h2>\n\n\n\n\n\n<p>For every newcomer, financial matters become an important consideration during the settlement process. Which Canadian bank should I choose? Which bank account should I open? Credit card or debit card?<\/p>\n\n\n\n<p>As French expats, we have gone through all these steps ourselves and are very familiar with the process. You&#8217;ll see it&#8217;s important to choose wisely to benefit from the best offers, build your credit history, and why not accumulate some reward points along the way.<\/p>\n\n\n\n<p>Here is our guide for you: welcome to Canada!<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s-h'\n\t\t\t\tdata-post_type='page'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_page container_template--s-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"page_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"348983\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-canadian-banks\">Canadian Banks<\/h3>\n\n\n\n<p>The main banks in Canada are:<\/p>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li>Laurentian Bank of Canada (LBC)<\/li>\n\n\n\n<li><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/offers\/bank-accounts\/packages-bmo-chequing\/\" target=\"_blank\" rel=\"noopener\">Bank of Montreal (BMO)<\/a><\/li>\n\n\n\n<li>National Bank of Canada (NBC)<\/li>\n\n\n\n<li><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/offers\/bank-accounts\/forfaits-bancaires-scotia\/\" target=\"_blank\" rel=\"noopener\">Scotiabank<\/a> (SB)<\/li>\n\n\n\n<li>Canadian Imperial Bank of Commerce (CIBC)<\/li>\n\n\n\n<li>Desjardins credit unions<\/li>\n\n\n\n<li><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/best-accounts-rbc\/\" target=\"_blank\" rel=\"noopener\">Royal Bank of Canada (RBC)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/offers\/bank-accounts\/td-banking-plans\/\" target=\"_blank\" rel=\"noopener\">Toronto-Dominion Bank (TD)<\/a><\/li>\n<\/ul><\/div>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s-h'\n\t\t\t\tdata-post_type='page'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_page container_template--s-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"page_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"207228\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<p>You can also find:<\/p>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li>Online banks accessible via the internet, including <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/reviews\/products\/eq-bank-vs-tangerine\/\" target=\"_blank\" rel=\"noopener\">Tangerine<\/a>, <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/motusbank-alterna-manulife-simplii-comparative-of-4-banks-online\/\" target=\"_blank\" rel=\"noopener\">Simplii<\/a>, <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/reviews\/products\/eq-bank-financial-products\/\" target=\"_blank\" rel=\"noopener\">EQ Bank<\/a>, and FirstOntario<\/li>\n\n\n\n<li>Neobanks offering financial services through a mobile app, such as Revolut, <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/news\/newcomers-koho-account\/\" target=\"_blank\" rel=\"noopener\">KOHO<\/a>, <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/reviews\/products\/neo-financial-case-study\/\" target=\"_blank\" rel=\"noopener\">Neo<\/a>, and <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/wealthsimple-chequing-account\/\">Wealthsimple.<\/a><\/li>\n<\/ul><\/div>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s container_count--2'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"117070,105053,0\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-expat-choosing-your-bank\">Expat &#8211; Choosing Your Bank<\/h4>\n\n\n<aside class=\"component component__notice component__notice--info wp-block-milesgutenberg-notice\">\n\t\t\t\t<i class=\"fas fa-info-circle\"><\/i>\n\t\t<div class=\"component__notice__content\">\n\t\t\t\t\n\n<p>This process of researching banks can be done remotely before you arrive in Canada, and we recommend doing so to make your settlement easier. You will need to demonstrate at customs upon arrival that you have sufficient funds.<\/p>\n\n\n\n<p>You will avoid certain delays related to money transfers, be able to present a Canadian bank statement to the customs officer, and finally, have immediate access to your money.<\/p>\n\n\t<\/div>\n<\/aside>\n\n\n\n<p>Before opening an account at any bank, shop around to thoroughly compare the services offered by each one. Once you\u2019ve chosen a bank, switching to another one can be a lengthy process and may result in fees. It\u2019s best to select the right bank from the start based on your profile.<\/p>\n\n\n\n<p>Bank fees, services, communication, welcome offers, branch proximity. Be sure to consider everything.<\/p>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li>Ask what each one has to offer and if you can benefit from any special offers. Some, for example, offer free banking services for the first year for newcomers. Negotiate.<\/li>\n\n\n\n<li>Pay attention to the interactions and if the manner and form suit you: having good communication with your advisor is important.<\/li>\n\n\n\n<li>The bank that works for your neighbour might not be the right fit for you. Don\u2019t base your decision on advertisements; focus on the facts and the services offered. Read the fine print.<\/li>\n<\/ul><\/div>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-account-opening\">Account Opening<\/h4>\n\n\n\n<p>Once you&#8217;ve chosen your bank, you can begin the process of opening a new bank account. Next, make an appointment with your new advisor.<\/p>\n\n\n\n<p>Two pieces of photo identification will be requested, such as a Canadian passport, a Canadian-issued driver&#8217;s license, a permanent resident card, a study permit, etc. Some banks may also require proof of address. For more details on this, here is the <a target=\"_blank\" href=\"https:\/\/www.cba.ca\/opening-a-bank-account?l=fr\">link<\/a> to the Canadian Bankers Association.<\/p>\n\n\n<aside class=\"component component__notice component__notice--info wp-block-milesgutenberg-notice\">\n\t\t\t\t<i class=\"fas fa-info-circle\"><\/i>\n\t\t<div class=\"component__notice__content\">\n\t\t\t\t\n\n<p>If you are doing the procedure remotely, you will need to complete an online form and various documents, which your advisor will provide to you.<\/p>\n\n\n\n<p>You must complete your file with:<\/p>\n\n\n\n<p>The complete file should be sent by post to your future bank.<\/p>\n\n\t<\/div>\n<\/aside>\n\n\n\n<p>No minimum deposit is required, nor do you need to prove employment. But sooner or later you will surely need to make an international money transfer if you are coming from abroad for an initial deposit into your new account. There will be a transfer time of around one to three days.<\/p>\n\n\n\n<p>To send money internationally, there are several companies that offer this service:<\/p>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li><a target=\"_blank\" title=\"Wise\" href=\"\/go\/transferwise\/\" rel=\"noindex\">Wise<\/a><\/li>\n\n\n\n<li><a target=\"_blank\" href=\"https:\/\/www.currencyfair.com\">CurrencyFair<\/a><\/li>\n\n\n\n<li><a target=\"_blank\" href=\"https:\/\/www.transfermate.com\">TransferMate<\/a><\/li>\n\n\n\n<li><a target=\"_blank\" href=\"https:\/\/www.worldremit.com\/fr\/canada\">WorldRemit<\/a><\/li>\n<\/ul><\/div>\n\n\n\n<p>These are intermediaries that allow you to have an online account to send, receive or spend money internationally. Fees may vary, so be sure to compare your options.<\/p>\n\n\n\n<p>After registering with one of these sites, set up your transaction, add your bank details, and confirm the transfer. However, be aware that some banks, such as National Bank of Canada, will require your first transfer to be bank-to-bank, not through an intermediary.<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s container_count--4'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"247123,204697,302586,238312\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-banking-products\">Banking Products<\/h3>\n\n\n\n<p>Each bank will offer a series of products associated with a package. You can start by opening a personal account (savings, chequing or a combined account). Depending on your banking institution and the type of account, service charges vary.<\/p>\n\n\n\n<p>Banks can provide you with a <strong>bank debit card<\/strong>. Withdrawals, cash deposits, transfers. All these transactions are possible at an Automated Teller Machine (ATM), using a Personal Identification Number (PIN). You&#8217;ll find them everywhere, open 24 hours a day. Prefer the ATMs of your banking institution, otherwise you will pay additional fees.<\/p>\n\n\n\n<p>The bank allows you to transfer\/receive funds from one account to another either by automatic transfer (e.g., Canada Revenue Agency) or <em>Interac<\/em> e-Transfer, or to pay pre-authorized or non-pre-authorized bills. Your bank can provide you with a chequebook, which you can use to pay bills, purchase goods, or access services.<\/p>\n\n\n\n<p>Ask for a <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/guide\/tutorials\/difference-credit-and-charge-cards-american-express\/\" target=\"_blank\" rel=\"noopener\">credit or charge card<\/a>.<\/p>\n\n\n\n<p>These different services vary from bank to bank, and most are also available online or by phone.<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s-h'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"153196\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-cards-offered-by-banks\">Cards Offered by Banks<\/h2>\n\n\n\n<p>A debit card allows you to make immediate withdrawals from your chequing account, but it does not offer any points or rewards benefits.<\/p>\n\n\n\n<p><strong>A credit card<\/strong> is not linked to your chequing account like a debit card is, so you can apply for one from any financial institution based on your profile. You\u2019ll have access to a credit limit, allowing you to defer payment for purchases while earning reward points. It&#8217;s important to pay your card in full every month. No balance, no interest, no debt!<\/p>\n\n\n\n<p>A charge card is also not linked to your chequing account. Additionally, there is no pre-set spending limit for the cardholder; only the issuer knows the actual limit. Here, the balance must be paid with each statement and cannot be carried over with interest.<\/p>\n\n\n\n<p><strong>A <\/strong><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/?p=445910\" target=\"_blank\" rel=\"noopener\">prepaid card<\/a> is useful abroad, for example, for exchanging money into foreign currencies.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-credit-report\">Credit Report<\/h3>\n\n\n\n<p>As an expat, another piece of information to know is that you will need a credit card in Canada.<\/p>\n\n\n\n<p>It is essential if you plan to borrow money in the future for a car or home purchase.<br \/>\nNo bank will be willing to accept a credit application if you have no credit history.<\/p>\n\n\n\n<p>Two agencies, <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/credit-score\/read-credit-report-equifax\/\" target=\"_blank\" rel=\"noopener\">Equifax<\/a> and <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/credit-score\/read-credit-report-transunion\/\" target=\"_blank\" rel=\"noopener\">TransUnion<\/a>, are responsible for informing the institution about your credit file, i.e., whether you are a trustworthy person or, in other words, a good payer. It shows that you pay your card balances on time and do not accumulate debt. Read our article to find out how your <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/credit-score\/101-credit-score\/\" target=\"_blank\" rel=\"noopener\">credit score<\/a> is calculated.<\/p>\n\n\n\n<p>Every newcomer should start using a credit card as soon as possible to begin building a credit history. However, you will need to find a bank willing to issue you a credit card:<\/p>\n\n\n\n<p>Your credit history starts to build as soon as you begin paying rent and bills, for example, but it may take some time before the bank agrees to increase your credit limit.<\/p>\n\n\n\n<p>Not all credit cards are created equal. That&#8217;s why we&#8217;ve designed a <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/compare\/credit-cards\/\" target=\"_blank\" rel=\"noopener\">credit card comparator<\/a> and a <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/\" target=\"_blank\" rel=\"noopener\">ranking of the best credit card offers<\/a> to help you.<\/p>\n\n\n\n<p>Finally, a credit card is necessary for making purchases online.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1200\" height=\"630\" src=\"https:\/\/mp-2702.milesopedia.dev\/wp-content\/uploads\/2024\/09\/2024-09-12-Dossier-de-credit-ENG.jpg\" alt=\"Expats: Which Bank Should You Choose to Open a Bank Account in Canada? - Credit Report\" class=\"wp-image-406953\" srcset=\"https:\/\/mp-2702.milesopedia.dev\/wp-content\/uploads\/2024\/09\/2024-09-12-Dossier-de-credit-ENG.jpg 1200w, https:\/\/mp-2702.milesopedia.dev\/wp-content\/uploads\/2024\/09\/2024-09-12-Dossier-de-credit-ENG-450x236.jpg 450w, https:\/\/mp-2702.milesopedia.dev\/wp-content\/uploads\/2024\/09\/2024-09-12-Dossier-de-credit-ENG-1024x538.jpg 1024w, https:\/\/mp-2702.milesopedia.dev\/wp-content\/uploads\/2024\/09\/2024-09-12-Dossier-de-credit-ENG-200x105.jpg 200w, https:\/\/mp-2702.milesopedia.dev\/wp-content\/uploads\/2024\/09\/2024-09-12-Dossier-de-credit-ENG-768x403.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-2-best-bank-accounts-for-newcomers\">The 2 Best Bank Accounts for Newcomers<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-national-bank-offer-for-newcomers\">National Bank Offer for Newcomers<\/h3>\n\n\n\n<p>This program is particularly aimed at <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/guide\/tutorials\/aeroplan-guide-newcomers-canada\/\" target=\"_blank\" rel=\"noopener\">newcomers<\/a> or those who have lived in Canada for less than five years, aged 18 or older.<\/p>\n\n\n\n<p>Currently, NBC&#8217;s program for newcomers is the best on the market. The National Bank has a network of 440 branches in Canada and 3,300 ATMs.<\/p>\n\n\n\n<p>I recommend the National Bank, which is perfect for expats and caters to permanent residents, temporary workers, and international students.<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='m'\n\t\t\t\tdata-post_type='bank_account'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_bank_account container_template--m container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"bank_account_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"393826\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card mcs-bank_account\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"product-image-wrapper\">\n\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"22651\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<p>BMO (Bank of Montreal) specifically targets <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/news\/nova-credit-newcomers\/\" target=\"_blank\" rel=\"noopener\">newcomers<\/a> or those who have been living in Canada for less than five years, who are either permanent residents or foreign workers.<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='m'\n\t\t\t\tdata-post_type='bank_account'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_bank_account container_template--m container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"bank_account_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"393822\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card mcs-bank_account\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"product-image-wrapper\">\n\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"22659\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-newcomer-choosing-your-bank-first-step-towards-financial-success-in-canada\">Newcomer &#8211; Choosing Your Bank: First Step Towards Financial Success in Canada<\/h3>\n\n\n\n<p>Selecting the best bank for newcomers represents much more than a simple administrative formality. It is the foundation of your financial journey in Canada, which will influence your ability to build a credit history, access financing, and optimize your personal finances.<\/p>\n\n\n\n<p>Take advantage of temporary free packages, personalized support, and multilingual services to facilitate your integration.<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s-h'\n\t\t\t\tdata-post_type='page'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_page container_template--s-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"page_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"207405\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n<aside class=\"component component__faq wp-block-milesgutenberg-faq\">\n\t\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"what_is_the_best_bank_for_a_newcomer_in_canada_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhat is the Best Bank for a Newcomer in Canada?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>The National Bank and the Bank of Montreal stand out with their specialized programs tailored to the reality of newcomers.<\/p>\n<p>Some financial institutions may offer multilingual services, resources on finances in Canada, or personalized support. The choice depends on your specific needs and your region.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"how_long_does_it_take_to_open_a_bank_account_in_canada_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tHow Long Does it Take to Open a Bank Account in Canada?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Opening usually takes 30 to 60 minutes in a branch. Some banks offer online pre-approval before arrival. The debit card is available quickly, while the credit card can take 7 to 14 days.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n<\/aside>","protected":false},"excerpt":{"rendered":"<p>Which Canadian bank should you choose to open an account and deposit your funds as an expat? Here are our tips and comparison.<\/p>","protected":false},"author":4,"featured_media":99445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[48417],"tags":[],"mc_loyalty_program":[],"class_list":["post-343811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","travel_type-beginner"],"acf":{"mc_approved_badge":false,"mc_card_used":"","mc_featured_card_specific":"","mc_hide_featured_card":false,"mc_post_checklist":{"mc_post_checklist_true":null,"mc_post_checklist_false":null}},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Expats: Which Bank Should You Choose to Open a Bank Account in Canada? | Milesopedia<\/title>\n<meta name=\"description\" content=\"Which Canadian bank is best for newcomers to open a bank account? 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