Choose a First Bank Account That Still Works After the Welcome Offer Ends

Your basic right to open a personal account

• Federally regulated banks must open a personal account if you meet their ID rules, even if you are unemployed or do not deposit money right away.
• Most newcomer offers separate permanent residents, international students, and temporary workers, so check the status-specific timeline before you apply.
• A branch bank is usually the safest first stop if you still need help with ID review, a first credit card, or understanding fees in plain language.

Documents banks commonly ask for

• Passport or other government photo ID, plus your PR card, study permit, or work permit.
• SIN for interest-bearing accounts and registered products. Some chequing accounts can start before you add it.
• Canadian address, phone number, or a school or work letter if you are still settling and do not yet have every standard proof document.

Best if you need branch help right away

Start here if you want a real newcomer package, staff who can review your documents, and a smoother path to your first Canadian card.

Best if you want to avoid fees after the promo ends

These are stronger picks if you want an account you can keep long term without paying a monthly fee.

Best if your first credit card matters most

Focus here if building Canadian credit quickly matters more than finding the absolute cheapest everyday account.

Best if you expect to send money abroad often

These options stand out for lower transfer costs, simpler remittance tools, or stronger international transfer support.

National branch packages

Best if you want in-person help, easier document review, and a better chance of leaving with a first credit card plan.

Regional bank and credit union programs

Best if you want stronger Quebec or Ontario support, longer fee waivers, or a more local banking relationship.

Digital no-fee accounts

Best if you already have your basic setup in place and want to avoid monthly fees for good.

Hybrid everyday plus savings accounts

Best if you want everyday banking plus better interest on your cash, even if you still need a separate credit-building plan.

Simplii says newcomers who arrived in the last 5 years can apply online. The setup works best once you have a Canadian address and your passport ready for digital verification.

Eligible permanent residents, international students, and foreign workers under the BMO NewStart Program terms.

The newcomer account is for permanent residents with status documents issued within the past 5 years. Foreign workers have a separate CIBC Smart Account for Foreign Workers flow, and students use CIBC Smart Start or student offers instead of this same package.

Designed for permanent residents, foreign workers, and international students under Servus newcomer package terms, with the strongest fit for Alberta-based newcomers who can use the branch network.

Permanent residents, international students, and work permit holders can qualify under RBC newcomer terms. Check the current status-specific window before applying.

Permanent residents, international students, and foreign workers eligible under StartRight terms.

Permanent or temporary residents in Canada for 5 years or less, excluding visitors and tourists, under TD New to Canada terms.

Available from home country up to 90 days before arrival or during the first 5 years in Canada, subject to National Bank newcomer rules.

Branch packages and newcomer programs

No-fee accounts you can keep long term

Best branch-first paths

Best if you want a staff-assisted account opening and a realistic chance at an unsecured first card quickly.

Best if you need a backup or secured route

Best if approval may depend on branch review, or if you want a secured option available from the start.

Best as a second account or paired setup

Best if you want low fees or higher interest, but you are willing to build credit somewhere else first.