Banking, the GIC and Money Tips for New Arrivals

Sorting out banking early makes everything else easier — from paying rent to receiving wages. Here is how new students usually get set up.

Open a student account

Major Canadian banks offer no-fee student accounts. Bring your passport, study permit and proof of enrolment to open one, often within your first week.

Understand your GIC

If you used a GIC for your study permit, you will receive an initial lump sum on arrival and then monthly instalments. Plan your first-month spending around this schedule.

Build a credit history

A basic student credit card, used responsibly, helps you build the Canadian credit history you will later need for phone plans, rentals and more.

Next steps

Use our university directory and scholarship listings to compare your options, then send an enquiry and our advisors will help you build a shortlist and application plan.

This article is general guidance for international students considering Canada. Tuition, immigration rules and deadlines change often — always confirm the latest details with the official university and Government of Canada (IRCC) sources before making decisions.