Between finding housing and employment to overcoming culture shock, settling into a new life in a new country can be difficult. You’ll not only need to get yourself and your possessions over to Canada, you’ll also need to bring your money – and get organized financially once you arrive. That’s where welcome to Canada or newcomer banking packages come in. From credit cards to loans, savings accounts and mortgage assistance, many banks in Canada offer these packages to permanent residents, international students and temporary workers.
Find out how you can take advantage of a welcome to Canada banking package – and save money while setting yourself up for a successful financial future in Canada.
One single bank or financial institution is not going to offer you the best product in every category. So before comparing packages, write down the banking products that are the most important to you, whether that’s bank accounts, credit cards, mortgages, car loans or free monthly international money transfers.
Also keep in mind that while a newcomer package can be a great way to get you on your feet in Canada, once you feel settled, it’s best to shop around for more competitive products. And don’t just settle for the bank you’re currently with – be on the lookout for the best products for your needs.
The BMO NewStart Program can help you get on your feet financially and save money with free banking for a year, a no annual fee cash back credit card and access to mortgage options and investment opportunities.
Get your finances sorted out quickly with the CIBC Welcome to Canada Banking Package, and choose from car loans, credit cards, bank accounts, investment accounts and more.
Keep your finances in one place with the RBC Newcomer Advantage, with access to credit cards, chequing accounts, car loans, mortgage options and international money transfers.
Kickstart your financial journey in Canada with the Scotiabank StartRight Program. You could save on banking fees and get bonuses when you join the program.
The TD New to Canada Banking Package comes with chequing and savings accounts incentives for the first six months. Plus, access the credit you need with a credit card, mortgage and more.
Consider the following factors when comparing welcome to Canada banking packages:
Newcomer packages can help you get on your feet when you arrive in Canada, with banks offering access to chequing, savings and investment accounts, car loans, mortgages, complimentary international money transfers, safety deposit boxes and much more. But while these packages can be helpful for a few years, you’ll want to consider your options once you’ve built up a decent credit score.
Before applying for a welcome to Canada banking package, carefully compare all the offers on the market to find the package that best suits your needs.
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