How to open a bank account in Canada from your home country?

Opening a bank account before arriving in Canada is the best thing you can do to start depositing your money, mobilize the account and build your credit history.

In this article, we guide you to successfully choose the most appropriate bank according to your arrival location and the advantages it offers.

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Desjardins Bank

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If your final destination is the province of Quebec, we recommend Desjardins Bank as one of the most important financial institutions in the region due to the wide range of services and products it offers in terms of insurance, real estate market, sources of financing, especially for small and medium-sized companies, among others.

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Requirements to open a Desjardins Bank account

At Immiland Canada, we have a special agreement with this bank; below, we share the requirements that must be met:

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• The first requirement is to present your visa approval letter, so you can start making transactions to your Canadian bank account. 
• For the program Student Direct Stream ( express visa process), Desjardins offers the option to obtain its Guaranteed Investment Certificate (GIC) of $10,000 CAD, which is a prerequisite for this pathway if your destination province is Quebec. Also, you can apply for a credit card with which you can build your credit history in Canada.
• Please note that the GIC does not apply to all nationalities or in all cases, so if you are unsure whether this is the right program for you, please contact your immigration advisor. 

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If you wish to open your account with Desjardins bank through our special agreement, click here and if you wish to obtain your GIC, click here.

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Simplii Financial Bank

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If your final destination is outside the province of Quebec, we recommend the bank Simplii Financial. At Immiland Canada, we also have a special agreement with this bank, which will allow you to receive a $50 CAD welcome bonus when you open your account. 

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Requirements to open an account with Simplii Financial Bank

• If you are an international student and wish to open your account prior to your arrival in Canada, you can do so with your visa approval letter; and if you are already in Canada, you can visit this link to Immiland's establishment area and write your request for one of our advisors to guide you through the process. In this link, we present you our complete and exclusive service for clients, Bank Account - Settlement.
• For the New to Canada programprogram, you have the option to send between $0.00 CAD and $50,000 CAD. 
• For the program Student Direct Stream ( express visa process), Simplii offers the option to obtain your Guaranteed Investment Certificate (GIC), which is a prerequisite for this pathway that allows you to send between $10,000 CAD and $20,000 CAD to your bank account. 
• Please note that the GIC does not apply to all nationalities or in all cases, so if you are unsure whether this is the right program for you, please contact your immigration consultant. If you would like an Immiland advisor to help you clarify your doubts, please contact us and request a personalized consultation.
• In addition, you can apply for a Simplii Visa Cash Back credit card without a credit record.
• There are no fees for opening an account.
• You can make international wire transfers to send funds outside of Canada without transaction-related fees .
• If your arrival in Canada is for business purposes, and you want Immiland's services, send us a message through this link and one of our advisors will guide you to open your account.

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How to receive the $50 CAD welcome bonus with Simpli Financial

• At the bottom of the bank's online questionnaire, you will find a question for the referrer data request, there, select the word Code and in details enter Immiland Canada Inc.
• In the question that says are you applying through the referral program? click on the word Yes.
• Immediately a box will open where you can insert the following e-mail address: info@immilandcanada.com and the bank will credit you the $50.00 CAD and that's it! If you have any doubts during the process, you can write us through immilandcanada.com/establishment/contact us and we will be glad to help you.

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CIBC Bank

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The Canadian Imperial Bank of Commerce, CIBC, is an entity designed for your new life in Canada, as it allows you to start your savings and money management with a CIBC Smart™ account for newcomers. Immiland Canada has an alliance with this bank, which offers the following benefits:

• It has more than 1100 physical branches in Canada and more than 3400 ATMs.
• It is the number one bank in the J.D. Power satisfaction survey for CIBC/SIMPLII online banking Canada.
• The user can request a free credit score from its application: CIBC mobile banking.
• You can make deposits from $2500 CAD up to $20,000 CAD for the ISBO deposit program account.
• You can access your saved money upon arrival in Canada and your statement can be used as proof of funds. 
• There is no additional fee for the process.
• You have the option to apply for a GIC (term deposit) with deposits from $10,000 CAD to $20,000 CAD. 
• If you would like to open your account with Immiland Canada and need assistance, click here.
• To receive the benefits of the CIBC - Immiland alliance it is important that in the "Referral" section you put "other" and place Immiland Canada Inc. in the space provided.
• You must check the "Yes" box in the question, if you are applying through the referral program, and in the space you must put the email: info@immilandcanada.com.
• Ready!

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So far we have shared very valuable information for you and your family, as opening a bank account in Canada is fundamental to successfully settle down and enjoy a more practical and secure financial life. We are happy to help you in any way we can, we are an immigration agency that offers complete services for the immigrant, so we invite you to explore our home page immilandcanada.com with all the assistance we can give you.

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With love,

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Immiland