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We invite you to find in our article, the 12 best banks in Canada in 2022 for students and workers.
Indeed, before leaving to study in Canada, or work in Canada, you must have an idea on the Canadian banks.
Besides, opening a bank account in Canada is an essential step in the immigration process.
With a Canadian bank account, you can make all purchases, payments, etc.
It will allow you to facilitate financial operations in the country.
Furthermore, it is suggested that you open a bank account remotely before flying to Canada in order to have peace of mind during your stay.
Indeed, opening an account beforehand avoids travelling with a large sum of money in your wallet.
In addition, a Canadian bank statement is tangible proof of sufficient resources for customs upon arrival in the country.
In addition, to open a bank account in Canada, you will need to make an appointment and bring certain documents with you:
- Your passport
- Your study permit
- Offer of admission
- Proof of address
So, let’s find out the 12 best banks in Canada in 2022.
Read More : The 3 ways to find housing in Canada in 2022
The 12 best banks in Canada in 2022
Here is the list of the 12 best Canadian banks for foreigners:
- Royal Bank of Canada
- Caisses Desjardins
- Bank of Montreal
- National Bank of Canada
- Scotiabank Canada
- TD Bank
- CIBC
- Laurentian Bank of Canada
- HSBC Canada
- Tangerine
- EQ Bank
- FirstOntario
In fact, in each of these Canadian banks, you will find the following information:
- The bank’s presentation.
- The type of bank
- And, finally, the official link to the bank’s website.
So, find out more about each of these banks in Canada!
1. Royal Bank of Canada
Overview: RBC was founded in Halifax in 1864 as the Merchants Bank.
The head office officially remains in Montreal, with RBC incorporated there, although all decisions are now made in the Queen City.
Type of Bank: Classic Banks
Official Website : Royal Bank
2. Caisses Desjardins
Overview: Desjardins Group is the largest cooperative financial group in Canada and the fifth largest in the world, with assets of $227 billion.
It is one of Canada’s top 100 employers according to Mediacorp Canada.
Type of Bank: Classic Banks
Official Website : Caisses Desjardins
3. Bank of Montreal
Overview: Bank of Montreal (BMO) was founded in 1817, making it the oldest legally incorporated bank in Canada.
Today, the various components of the Bank of Montreal form what is known as the BMO Financial Group.
Type of Bank: Classic Banks
Official Website : Bank of Montreal
4. National Bank of Canada
Overview: With $246 billion in assets as of October 31, 2017, National Bank of Canada (NBC), together with its subsidiaries, is one of Canada’s largest integrated financial groups.
It has more than 21,000 employees in knowledge-intensive roles, and has won numerous awards for its employer qualities and commitment to diversity.
Type of Bank: Classic Banks
Official Website : National Bank of Canada
5. Scotiabank Canada
Overview: Scotiabank is a leading bank in Canada and a major financial services provider in the Americas.
We are dedicated to helping our 24 million customers improve their lives through advice and a wide range of products and services.
Type of Bank: Classic Banks
Official Website : Scotiabank Canada
6. TD Bank
Overview: The Toronto-Dominion Bank (TD Bank), part of the TD Bank Financial Group, is one of Canada’s largest financial institutions.
TD Bank is a chartered bank subject to the provisions of the Bank Act of Canada.
Type of Bank: Classic Banks
Official Website : TD Bank
7. CIBC
Overview : The Canadian Imperial Bank of Commerce ( CIBC ) is one of the five major Canadian banks.
Services : Current account, Savings account, Insurance, Credit cards, Payment cards, Mobile payment, Stock market investment, etc…
Type of Bank: Classic Banks
Official Website : CIBC
8. Laurentian Bank of Canada
Presentation : Laurentian Bank of Canada (LBC) is a diversified financial services provider whose mission is to help its customers improve their financial health.
Laurentian Bank of Canada (founded in 1846) and its entities are collectively known as Laurentian Bank Financial Group.
Type of Bank: Classic Banks
Official Website : Laurentian Bank of Canada
9. HSBC Canada
Overview: HSBC Canada is one of the world’s largest banking and financial services organizations.
We serve over 40 million customers through our global businesses.
Type of Bank: Classic Banks
Official Website : HSBC Canada
10. Tangerine
Overview: Tangerine is a Canadian online bank that offers simplified everyday banking services to Canadians.
Type of Bank: Online Banking
Official Website : Tangerine
11. EQ Bank
Overview: EQ Bank is a registered trademark of Equitable Bank. Equitable Bank is a Canadian Schedule I bank and a member of the Canada Deposit Insurance Corporation (CDIC).
Type of Bank: Online Banking
Official Website : EQ Bank
12. FirstOntario
Overview: FirstOntario is a Canadian online bank that offers simplified everyday banking services to Canadians.
Bank Type: Online banking
Official Website : FirstOntario
Read More : The cost of living in Canada for workers and students in 2022
Conclusion
So, to conclude our article, we have presented for you, the 12 best banks in Canada in 2022 for students and workers.
Indeed, as we mentioned before, opening a bank account in Canada is an essential step in the immigration process.
With a Canadian bank account, you can do all the transactions of purchase, payment, etc.
In addition, banks in Canada offer many quality services to their clients
We advise you to contact these banks to have more information on the services offered!
