• Menu
  • Skip to right header navigation
  • Skip to content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

Email us today:  info@globalskillz.ca

  • Email
  • Facebook
  • LinkedIn
  • Twitter

Global Skillz

Ottawa’s largest newcomer settlement and job fair

  • Home
  • Key Initiatives
    • Newcomers Job Fair
    • Hustle & Scale
    • The NEXT Steps
  • Speakers & Mentors
  • Blog
  • CONTACT US
  • Search
  • Home
  • Key Initiatives
    • Newcomers Job Fair
    • Hustle & Scale
    • The NEXT Steps
  • Speakers & Mentors
  • Blog
  • CONTACT US
  • Search

Everything You Need to Know About Banking in Canada

You are here: Home / Uncategorized / Everything You Need to Know About Banking in Canada

July 10, 2019 By //  by Global Skillz

One of the first things you should do when you move to a new country is familiarize yourself with its banking system. A credit report, chequing and savings accounts, a line of credit—for a newcomer, understanding the nuances of these new concepts isn’t always easy. Need help? Here are the ABCs of the Canadian banking system.

At first, the Canadian banking system may seem complicated. But before long, with the right information, you’ll have a better understanding of it and you’ll gain confidence with managing your finances.

How to manage your assets

Opening a bank account in Canada is a must. It gives you the opportunity to deposit and withdraw money, carry out purchases, transactions and bill payments, deposit your salary and even issue cheques. With a bank account, you can access your money at anytime, anywhere—even on your mobile phone! Simply put, it makes managing your financial assets easy.

Types of accounts

There are many types of accounts. A transactional account, also called a chequing account, allows you to perform several transactions in the form of deposits or withdrawals. Meanwhile, a savings account allows you to deposit a surplus of money you don’t need for current expenses. Foreign-currency accounts and other specialty accounts, such as High Interest Saving Account, are also available.

How to open a bank account

Head to a bank (we call them “branches” in Canada) or make an appointment at a Canadian financial institution with an advisor. Plan to bring official documents, such as a valid passport and your Immigration and Citizenship Canada paperwork. Some financial institutions even allow you to open an account remotely using their website.

Filed Under: Uncategorized

Want to discuss how we help our business partners in their efforts to build strong bridges through credible professional engagements with newcomers?

Schedule a meeting with us today!

Apart from the obvious commercial reasons for engaging with them, Global Skillz can also assist you in achieving your corporate social responsibility aspirations and help you give back to the Ottawa community in a real way.

Previous Post: « How To Choose The Right Education Program
Next Post: 10 Mistakes First Time Home Buyers Need to Avoid »

Reader Interactions

Primary Sidebar

Subscribe to our Newsletter !

SIGN UP NOW

RECENT POSTS

10 Mistakes First Time Home Buyers Need to Avoid

1. Looking for a home before applying for a mortgage it. 2. …

Everything You Need to Know About Banking in Canada

One of the first things you should do when you move to a new …

Footer

Speakers & Mentors

  • Arun Thangaraj
  • Dilhari Fernando
  • Harpreet Kochhar
  • Raman Srivastava
  • Anil Arora

NEO Media Initiatives

Find out about our other initiatives
NEO Media
Ottawa Indian Film Festival Awards (OIFFA)
South Asian Connection

Contact Us

Get in touch with us today to start a conversation on how Global Skillz can help you with your talent needs and help your business achieve its growth targets.
Contact Us Now →

Sign up for Newsletter

Your best resource for access to community wide support in Ottawa SIGN UP NOW
  • Email
  • Facebook
  • LinkedIn
  • Twitter
  • Blog
  • Key Initiatives
  • Sitemap

Site Footer

Other NEO Media Initiatives: South Asian Connection | Ottawa Indian Film Festival Awards (OIFFA)

Copyright © 2023 Global Skillz, a NEO Media initiative • All rights reserved