This content is provided through a paid partnership between Moving2Canada and Scotiabank.
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It’s important to manage your banking as soon as you can after you arrive in Canada. Having a Canadian chequing account allows you to more easily adapt to life in Canada and will also help with getting a phone plan, organising accommodation, and a bunch of other first-month to-dos.
Opening a No-Monthly Fee Chequing Account for Students
A student chequing account is usually used for everyday activities, like withdrawing cash, paying bills, and receiving money. Students may be eligible for no-monthly fee chequing accounts for the duration of their studies, so we recommend looking for an account with no monthly account fees while you’re studying.
Scotiabank offers the Preferred Package for Students and Youth. This account does not have a monthly account fee and allows unlimited debit and Interac e-Transfer† transactions. Students can also apply for an unsecured credit card through this plan, even without a credit history in Canada.
Student Credit Cards
Responsible credit card usage enables you to build and improve your credit score and credit history. In other words, getting a credit card can be an important part of building your bright financial future in Canada.
Scotiabank offers a specialized program for international students to apply for an eligible credit card, even without Canadian credit card history. For example, Scotiabank offers the Scotiabank® Scene+™ Visa Card, which can earn points on everyday purchases that can be redeemed for groceries, home improvement, movies, dining out and more. Getting and responsibly using a credit card can help you build your credit score in Canada.
Learn more about Scotiabank’s banking solutions for students in Canada.
You can also receive personalized support with budgeting, banking products, and financial planning from a Scotiabank advisor.
Warm Wishes,
The Moving2Canada team, sponsored by Scotiabank
Legal Disclaimer
This email is provided for information purposes only. It is not to be relied upon as investment advice or guarantees about the future, nor should it be considered a recommendation to buy or sell. Information contained in this article, including information relating to interest rates, market conditions, tax rules, and other investment factors are subject to change without notice and The Bank of Nova Scotia is not responsible to update this information. All third party sources are believed to be accurate and reliable as of the date of publication and The Bank of Nova Scotia does not guarantee its accuracy or reliability. Readers should consult their own professional advisor for specific investment and/or tax advice tailored to their needs to ensure that individual circumstances are considered properly and action is taken based on the latest available information.
