Up to $600 in welcome bonuses. All 5 Big-5 banks compete for you.
Every Big-5 Canadian bank has a dedicated newcomer program. Free banking 6-36 months, $100-600 cash bonuses, credit cards with no credit history required, and free international transfers home. Here's how to pick.
★ ALL 5 PROGRAMS ★
Side-by-side
RBCNewcomer Advantage
WELCOME BONUS$100
Free banking12 months
Intl transfer✓ FREE
Credit cardRBC ION Visa (no history needed)
Branches~1,200 across Canada
LanguagesHindi, Punjabi, Mandarin, Tagalog, French
EligiblePR, work permit, study permit
Ease
Support
Perks
Mortgage
ScotiaStartRight
WELCOME BONUS$200
Free banking36 months (best in class)
Intl transfer1 free per month
Credit cardMomentum No-Fee Visa (no history)
Branches~900 across Canada
LanguagesHindi, Punjabi, Mandarin, Cantonese, French
EligiblePR, work permit, intl students
Ease
Support
Perks
Mortgage
TDNew to Canada
WELCOME BONUS$300
Free banking6 months
Intl transfer✓ FREE
Credit cardTD Cash Back Visa (no history)
Branches~1,100 across Canada
LanguagesHindi, Punjabi, Mandarin, Cantonese, French
EligiblePR, work permit, study permit, refugee
Ease
Support
Perks
Mortgage
BMONewStart
WELCOME BONUS$400
Free banking12 months
Intl transferFree via BMO Global Money Transfer
Credit cardBMO CashBack World Elite (no history)
Branches~900 across Canada
LanguagesHindi, Punjabi, Mandarin, French
EligiblePR, work permit (1yr+)
Ease
Support
Perks
Mortgage
CIBCWelcome to Canada
WELCOME BONUS$400-600
Free banking12 months
Intl transferCIBC Global Money Transfer · FREE
Credit cardCIBC Aventura Visa (no history)
Branches~1,000 across Canada
LanguagesHindi, Punjabi, Mandarin, French
EligiblePR (1yr), foreign workers, intl students
Ease
Support
Perks
Mortgage
★ BEST FOR... ★
Pick by what matters most
BEST OVERALLScotia
3 years of free banking + best mortgage program for newcomers. Long-term value wins.
BIGGEST CASH BONUSCIBC
$400-600 welcome offer often beats competitors. Mortgages strong via CIBC Imperial Service.
EASIEST APPROVALTD
Most flexible documentation requirements. Strong for study permit holders.
BEST INTL TRANSFERSBMO
BMO Global Money Transfer to 75+ countries · often best rates to India and Philippines.
CITIES WITH BIG SOUTH ASIAN POPRBC
Most branch staff trained on newcomer needs. Hindi/Punjabi availability strongest.
★ ONLINE BANKS · ALTERNATIVES ★
Skip the branch entirely
⚡EQ Bank
0 fee · 4% interest · easy online opening for newcomers with SIN
🍊Tangerine
Scotia online · easier than full Scotia for digital newcomers