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Newcomers guide to Banking in Canada

  • Writer: Lola Oduwole
    Lola Oduwole
  • Sep 7
  • 2 min read

Newcomers to Canada should prioritize contacting the following large and medium banks, as these institutions offer dedicated newcomer programs, special account perks, and multilingual support to make settling in easier: Our Banking for Newcomers guide is simply a guide not financial advice. Contact Us and we will guide you to our trusted partners.

Why Prioritize These Banks? All are large national or leading regional banks with a strong record of working with newcomers. They offer newcomer accounts with perks such as no monthly fees, cash bonuses, global transfers, and credit-building products with no Canadian credit history. Each has extensive branch networks and 24/7 support phone lines, usually multilingual, to help newcomers navigate Canadian banking. By reaching out to these banks, newcomers can access tailored financial products, obtain settlement help, and start building credit in Canada quickly.
Newcomers to Canada should prioritize contacting the following large and medium banks, as these institutions offer dedicated newcomer programs, special account perks, and multilingual support to make settling in easier:

Top Banks for Newcomers


  • Scotiabank

  • Scotiabank's StartRight® program provides up to $2,200 in perks, waived monthly fees for the first year, easy access to credit without Canadian history, and international money transfer options.

  • National Bank of Canada

  • Frequently ranked as the best for newcomers, National Bank offers no-fee chequing for three years, a newcomer credit card (no Canadian history required), and free phone-based newcomer assistance for a year.

  • Royal Bank of Canada (RBC)

  • RBC's Newcomer Advantage program includes product fee waivers, specialized advice, and a broad branch network across Canada.

  • TD Canada Trust

  • TD’s New to Canada Banking Package gives up to $1,930 in offers, a year of no monthly fees, and credit card access with no Canadian credit record.

  • CIBC

  • CIBC's Smart Account for Newcomers provides up to $500 in cash bonuses, waived fees, and a selection of credit cards tailored for those new to Canada.

  • BMO (Bank of Montreal)

  • BMO’s NewStart Program gives up to $2,300 in bonuses, one year of no monthly fees, and the ability to earn cash back as a new client.

  • Simplii Financial

  • A digital bank alternative, Simplii offers a no-fee chequing account and up to $1,300 in newcomer bonuses.

Why Prioritize These Banks?

  • All are large national or leading regional banks with a strong record of working with newcomers.

  • They offer newcomer accounts with perks such as no monthly fees, cash bonuses, global transfers, and credit-building products with no Canadian credit history.

  • Each has extensive branch networks and 24/7 support phone lines, usually multilingual, to help newcomers navigate Canadian banking.

By reaching out to these banks, newcomers can access tailored financial products, obtain settlement help, and start building credit in Canada quickly.


At A.H.O.M Relocation Management Company (AHOMRMC) through our Expert Consultants, we offer full consultation and guidance on your relocation needs. Contact Us today


Why Prioritize These Banks? All are large national or leading regional banks with a strong record of working with newcomers. They offer newcomer accounts with perks such as no monthly fees, cash bonuses, global transfers, and credit-building products with no Canadian credit history. Each has extensive branch networks and 24/7 support phone lines, usually multilingual, to help newcomers navigate Canadian banking. By reaching out to these banks, newcomers can access tailored financial products, obtain settlement help, and start building credit in Canada quickly.

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