Student Banking in New Brunswick 2025

The best banking options for NB university and college students — free accounts, perks, and money-saving tips for students at UNB, STU, UdeM, Mount Allison, and NBCC.

Universities and Colleges in New Brunswick

New Brunswick has a substantial post-secondary sector serving tens of thousands of students annually:

• UNB (University of New Brunswick) — Fredericton (main) and Saint John campuses
• STU (St. Thomas University) — Fredericton
• Université de Moncton — Moncton, Edmundston, and Shippagan campuses (French)
• Mount Allison University — Sackville
• NBCC (New Brunswick Community College) — campuses in all major NB cities
• Crandall University — Moncton

Student Banking Comparison

Bank	Student Account Fee	Perks	Post-Graduation
TD	$0 (with student status)	Unlimited transactions, no min. balance	Auto-switch at graduation
RBC	$0 (with student status)	No monthly fees, student VISA	Continues 1yr post-grad
Scotiabank	$0 (with student status)	Scene+ points, no fees	Student rate extended
BMO	$0 (with student status)	SPC card discounts	Auto-switch at graduation
KOHO	$0 (no student status needed)	1% cash back, no verification needed	Free forever, no switch

Why KOHO Works Best for NB Students

Traditional student accounts are free — but only while you're a student, and typically require annual proof of enrollment. KOHO requires no enrollment verification and stays free forever. For students who work part-time, KOHO's 1% cash back on groceries and transit adds up meaningfully on a student budget. There's also no overdraft risk — KOHO won't let you overspend, eliminating $45 NSF fees.

Student Loans and Financial Aid in NB

New Brunswick has its own student financial assistance program (NBSFA) in addition to the Canada Student Loans Program (CSLP). Key points:

• NB student grants are available based on financial need — do not need to be repaid
• NBSFA applications are processed alongside federal Canada Student Loan applications
• Loan disbursements are deposited to your Canadian bank account — set this up before the school year starts
• The NB Repayment Assistance Plan (RAP) helps graduates manage loan repayment based on income

Student Budget Tips for NB

• Off-campus housing in Fredericton and Moncton costs $800–$1,400/month for shared accommodation
• Use Interac e-Transfer for splitting rent — free with KOHO and most student bank accounts
• NB bus passes are available at reduced student rates in Moncton and Fredericton
• KOHO's spending notifications help prevent overspending when student loan funds arrive
• Open a TFSA and start investing even small amounts from part-time work — the habit matters more than the amount
• International students: get your SIN first, then open your bank account with your study permit + passport

International Students Banking in NB

International students at UNB, Université de Moncton, and other NB institutions can open Canadian bank accounts with a study permit and passport. All major banks have international student banking packages. KOHO is particularly easy for international students — it can be set up quickly and has no credit history requirement, making it ideal for those who are new to Canada.