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Are you an international student based in Canada? If so, an important decision you will need to make is to open a Canadian bank account and apply for a credit card. You may be wondering how to start this process and what options are available to you.

Don’t worry! The good news is that it’s probably easier than you think, and there are plenty of resources available to help you navigate this process. One of them is, without a doubt, to contact a financial advisor in canada.

Having a bank account and a credit card in Canada can be advantageous for several reasons. Whether you are looking to establish your credit history, manage your finances or make purchases while studying in Canada, these services will bring you convenience and security.

Plus, there are special perks designed specifically for international students like you. In this article, we’ll help you make an informed decision, answer some of your questions, and walk you through the process of choosing a bank account and credit card so you can feel confident. safe and confident.

Types of Canadian Bank Accounts

In Canada, there are two main types of personal deposit accounts that international students can open: checking accounts and savings accounts.

The checking account is ideal for everyday transactions such as paying bills, withdrawing cash, and making purchases. It is important to note that many Canadian financial institutions offer student chequing accounts with no monthly fees, making them an affordable option for you. With a Canadian checking account, you will be able to make cash withdrawals, make money transfers and make online purchases conveniently.

On the other hand, savings account is a recommended option if you want to save money for the future. You can deposit additional funds into a savings account to earn interest on your balance and transfer them to the checking account if needed.

When choosing a bank account, it’s important to consider the fees, features, and benefits it offers. Look for a bank that offers low or no fees for students, as well as attractive features such as easy-to-use online banking and mobile apps that make managing your finances simple.