How safe are Canadian Banks?
Having chosen which bank you wish to use, make your way to one of their branches and tell them which kind of account you would like to open. You should be able to provide two government issued pieces of identification (e.g. a passport, driver’s license, Provincial Health Card, Social Insurance Card) and proof of address (usually requested in the form of a utility bill). As a foreign resident you will usually also be asked to provide a reference from your employer/host university or educational institution or your previous bank. When choosing a bank, take into consideration how far it is the branch to the place where you live/work, or any special package that your employer/university may have in order to minimize your banking fees. The biggest Canadian banks are: • Royal Bank of Canada (www.royalbank.com ) • TD Canada Trust (www.tdcanada.com ) • Canadian Imperial Bank of Commerce (www.cibc.com ) • Bank of Nova Scotia (www.scotiabank.com ) • Bank of Montreal (www.bmo.com ) All the banks