Money · Banks
Best Banks for Newcomers to Canada · 2026
Eight banks that approve you with no Canadian credit history. Up to $2,300 in first-year value, credit cards with $15,000 limits, and pre-arrival account opening from India, Nigeria, the UK, and more.
Side-by-Side Comparison
Every bank, every number that matters.
| Bank | No-fee period | Credit card | Pre-arrival | Best feature |
|---|
Frequently Asked Questions
Straight answers, from one newcomer to another.
Yes. Every bank in this guide approves newcomers without a Canadian credit file. RBC, Scotiabank, BMO, TD, CIBC, and National Bank all offer newcomer-specific chequing accounts and credit cards that do not require prior Canadian credit. Approval is based on your immigration status (PR, work permit, or study permit) and ID, not your credit score.
Got the bank. Now get the job.
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