New to Canada?
Start here.
No Canadian credit history, no SIN-on-file headaches, no surprise fees. Here is the fastest path to a working bank account and a credit score from your first week.
Your first 5 steps
Open a no-fee account you can get without credit history
Big banks often gate "newcomer" accounts behind branch visits and paperwork. App-first accounts open in minutes with just ID, no Canadian credit history needed. KOHO is a common first account for newcomers, no monthly fee and no credit check. Open one →
Set up direct deposit
Give your employer your account and transit numbers so your pay lands automatically. This also unlocks many bank welcome bonuses.
Start building Canadian credit immediately
Your home-country credit does not transfer. A credit-building feature that reports to Equifax and TransUnion starts your Canadian history from day one, which matters for renting, phone plans, and future loans.
Avoid the fee traps
Watch for monthly account fees, out-of-network ATM fees, and foreign-exchange markups on transfers home. No-fee accounts and fair FX save newcomers hundreds a year.
Keep your documents handy
Have your passport, work/study permit, and proof of address ready. Most app accounts verify instantly, but a few may ask for a quick document upload.
Open your first account →