Open a bank account

Your pay and benefits go here; it’s where your financial life starts.

Where to go

Any bank or credit union. The five best-known banks are RBC, TD, Scotiabank, BMO and CIBC, and each has a newcomer package.

What to bring

• Accepted original ID, often your passport and status document
• No proof of address? Ask about alternatives

What to do, step by step

1. Compare newcomer packages: how long the fee waiver lasts and the monthly fee after it ends.
2. Ask about international transfers and their fees, a nearby branch and an Arabic speaker.
3. What each of the five banks offers and the questions to compare them: see the “Bank account” tip under Advice & experiences.
4. Get your direct-deposit details for pay and benefits.
5. Turn on account alerts on your phone.

Note: not having a job does not by itself stop you opening an account at a federally regulated bank if you meet the requirements. A real bank never asks for your password by message.