InformarEs Porque informar es nuestra misión
Moving to a new country is both exciting and challenging, and one of the first steps for newcomers to Canada is opening a bank account. Having a reliable financial institution helps immigrants manage their money, receive salaries, pay bills, and start building credit history. In 2025, Canadian banks continue to compete for new clients with tailored programs for immigrants, including no monthly fees, welcome bonuses, credit cards without credit history, and newcomer packages.
Here is a list of the Top 10 Best Banks in Canada for New Immigrants to Open Their First Bank Account in 2025:
1. RBC (Royal Bank of Canada)
RBC offers a Newcomer Advantage Program with up to one year of free banking, free international money transfers, and easy approval credit cards. Their wide branch network makes it convenient for immigrants across the country.
2. TD Canada Trust
TD provides a New to Canada Banking Package with no monthly fees for 6 months, international student support, and financial guidance. Known for excellent customer service and flexible credit card approvals.
3. Scotiabank
Scotiabank’s StartRight Program is one of the most popular among newcomers. Benefits include a year of free banking, access to savings accounts, car loans, and the popular Scotiabank Scene+ Rewards credit card.
4. CIBC (Canadian Imperial Bank of Commerce)
CIBC offers up to $400 cash bonus when opening a newcomer account, credit cards with no credit history, and free global money transfers. Their online banking platform is also highly rated.
5. BMO (Bank of Montreal)
BMO’s NewStart Program provides free banking for 12 months, access to secured and unsecured credit cards, and personalized guidance for building credit in Canada.
6. National Bank of Canada
Especially attractive for newcomers in Quebec, National Bank offers free banking for up to 3 years, welcome bonuses, and specialized packages for international students and skilled workers.
7. HSBC Canada
HSBC provides global advantages, including free international transfers between HSBC accounts, making it perfect for newcomers who still manage finances abroad. They also offer multi-currency accounts.
8. Laurentian Bank
Popular in Quebec, Laurentian offers personalized services for immigrants, competitive interest rates on savings, and flexible credit options for newcomers.
9. Simplii Financial
As a digital bank, Simplii offers no-fee accounts, free unlimited transactions, and quick online account opening—ideal for tech-savvy immigrants who prefer online banking.
10. Tangerine Bank
Owned by Scotiabank, Tangerine is a top choice for online banking with no monthly fees, cashback promotions, and easy access to Scotiabank’s ATM network across Canada.
