The 11 best Canadian Banks for students in 2022

We invite you to discover in this post, the list of the 11 best Canadian Banks for students in 2022.

Indeed, before leaving to study in Canada, it is better to have an idea about Canadian banks.

Moreover, having a bank account in Canada as a student is essential to be able to carry out current financial transactions such as online purchases or the payment of bills.

By the way, to be able to pay bills, carry out transactions and receive money, a student needs to open a bank account in Canada.

If you are going to live long-term in Canada to do your university studies, then it is probably better to open a bank account there.

The process is relatively simple, provided you can present an identity document, mentioning a legal address.

Canadian banks are very similar to American and European banks.

This is because most charge a monthly service fee to customers who have an account.

On the other hand, a basic bank account costs around 5 CAD per month.

It is not necessary to open a bank account in Canada during your studies.

However, Canadian banks offer student accounts and services that may be beneficial.

For example, if you open an account here, international transfers might cost you less than if you didn’t have an account.

Here are some other benefits:

  • If you have a bank account, bank staff can give you financial advice.
  • If you work in Canada, you must have a bank account.
  • A bank account could help you manage your money.
  • If you are renting off-campus accommodation, you may need a checkbook to pay the rent.

In addition, all Canadian banks offer their banking services online.

So, let’s discover together the list of the 11 best banks in Canada for students.

The 11 best Canadian Banks for students in 2022

Opening a student bank account in Canada is easy, given the flexibility of the Canadian banking system.

A student bank account is very useful to make everyday life in Canada easier, as there are a lot of online or electronic transactions.

Generally, everywhere in Canada, it is easy to open a bank account.

For those who are sharing, an invoice proving the address of the person who is hosting you with a letter from him saying that you live well with him is enough.

Before opening your bank account, we invite you to discover the best banks in Canada for foreign students.

Indeed, each bank offers services specifically for students.

Special accounts for students, special bank cards for students, preferential rates for students…

So, here is the list of the best banks in Canada for foreign students:

  1. Scotiabank
  2. The Royal Bank of Canada
  3. National bank of Canada
  4. The Bank of Montreal
  5. Caisses Desjardins
  6. TD Bank
  7. CIBC
  8. Laurentian Bank of Canada
  9. HSBC Canada
  10. EQ Bank
  11. FirstOntario

Thus, we advise you to contact the Canadian bank of your choice for more information on the services offered.

Conclusion

So to conclude our post, we have presented to you, the list of the 11 best Canadian Banks for students in 2022.

Indeed, as we mentioned before, having a bank account in Canada as a student is essential to be able to carry out current financial transactions such as online purchases or the payment of bills.

By the way, to be able to pay bills, carry out transactions and receive money, a student needs to open a bank account in Canada.

If you are going to live long-term in Canada to do your university studies, then it is probably better to open a bank account there.

Thus, we advise you to contact the Canadian bank of your choice for more information on the services offered.

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