Getting set up with a Canadian bank.
Opening a bank account as a newcomerYou can open an account without a job or credit history. Newcomer packages often waive fees for the first year.Day-to-day bankingInterac e-Transfer, cheques, pre-authorized debits, and avoiding the fees that catch newcomers out.Big banks, credit unions or online banks?The Big Five have branches everywhere, credit unions are community-based, and online banks skip monthly fees — pick based on how you actually bank.
Direct deposit, pay stubs and what comes off your payMost employers pay by direct deposit every two weeks — learn to read the stub so the CPP, EI and tax deductions don't surprise you.