Most Canadians keep their money in the bank. It is important to open a bank account as soon as possible after arriving in Canada. A bank account is a safe place to keep your money and have easy access to it. You will need to open a bank account in order to receive your job wages, rent or buy a place to live, pay for electricity, or to get a phone line.
Banks will provide you with free information about their services and answer your questions. You can walk into any bank without an appointment and ask about their services. Some banks provide special accounts for newcomers to Canada. Ask your local bank if they participate in any newcomer banking programs.