Banking

Most Canadians keep their money in the bank. A bank account is a safe place to keep your money. Banks let you write cheques, earn interest, apply for credit and pay your bills. These kinds of financial services are also offered by credit unions and trust companies. Citizenship and Immigration Canada has useful background information on Canada’s banking system, including

• Opening an account,
• Using bank machines,
• Direct deposit,
• Sending money, and
• Applying for credit

There also is a great deal of free information available to you from your bank, including financial advice. In addition, the Canadian Bankers Association offers a free series of publications, ranging from how to open an account, how to manage your money, how to use bank machines, and how to save for your children’s education.

Check your local telephone directory to learn what banks and other financial institutions are available in your area and to enquire about services and rates each can offer you. Some will offer special assistance to help you get started.