Banks in Canada charge different fees for the same type of service.  You should research which bank best matches the services that you need.  Things to ask about are: monthly service charges, telephone and computer banking options, transaction charges, and interest.


What Should I Take With Me To Open A Bank Account?

  1. Your Passport or Birth Certificate

  2. A second piece of identification (e.g. Study Permit)

  3. Money to deposit

Note: Banks have staff available to help when you apply for an account.  Ask about student rates and plans. 


Automatic Banking Machines (ABM) Or Automatic Teller Machines (ATM)

  • When you open an account, you receive a plastic ATM/Debit/Bank card. You choose a password (called a Personal Identification Number or PIN).

  • Bank machines are open 24 hours a day 7 days a week.

  • You can do all of your routine banking e.g. withdraw cash, deposit cash or cheques, pay bills, check transactions.

  • There is an extra charge for using an ATM that does not belong to your bank (up to $3). 

Telephone Banking And Internet Banking (On-Line /PC Banking)

  • You can go online or telephone to pay bills, get your current account balance, hear or see your last 5 or 10 transactions and transfer money between accounts.

  • You need your Bank Card and to choose a different password for telephone banking and internet banking. Talk to your bank for assistance.

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