Canadian newcomer bank programs
Every program we mention in our videos, with the highlights and a direct link. We update this page as banks change their offers.
Affiliate disclosure: Some links below are affiliate links. If you open an account through them, we earn a commission at no cost to you. We only include programs we've independently researched and would recommend to a friend.
Big Six
RBC
Newcomer Advantage
- ✓Free chequing for 1 year
- ✓No-fee credit card, no credit history required
- ✓Up to $2,000 credit limit
Scotiabank
StartRight
- ✓Free chequing for 1 year
- ✓No-fee credit card
- ✓Can start application from outside Canada
TD
New to Canada
- ✓Free chequing for 1 year
- ✓Secured credit card option
- ✓In-branch newcomer specialists
CIBC
Smart Start
- ✓Free chequing for 1 year
- ✓Bonus up to $400 for direct deposit setup
- ✓No-fee US dollar account option
BMO
NewStart
- ✓Free chequing for 1 year
- ✓Bonus promotional cash (terms apply)
- ✓No-fee credit card
Digital
KOHO
Prepaid + High-Interest Savings
- ✓No credit check
- ✓Easy approval for newcomers
- ✓Up to 4% savings interest
Tangerine
No-Fee Daily Chequing
- ✓$0 monthly fee forever
- ✓Owned by Scotiabank
- ✓Promotional interest on new savings
Simplii
No-Fee Chequing
- ✓$0 monthly fee forever
- ✓Owned by CIBC
- ✓Free e-Transfers
EQ Bank
Savings Plus
- ✓3–4% savings interest
- ✓No monthly fees
- ✓Free international transfers via Wise
Brokerage
Wealthsimple
Invest / Trade
- ✓Free TFSA, RRSP, FHSA accounts
- ✓Commission-free trading
- ✓New-account bonuses (varies)
Questrade
Self-Directed Investing
- ✓Low-cost trading
- ✓TFSA, RRSP, FHSA, RESP support
- ✓Referral bonuses for newcomers