Banks in Canada

• Royal Bank of Canada (RBC):
  RBC provides various services on a global basis, such as: personal and commercial banking; wealth management services; and insurance, corporate, investment banking and transaction processing services. RBC holds strong market positions in its five business segments: Canadian Banking, Wealth Management, International Banking, Capital Markets, and Insurance.
  Web site: http://www.rbc.com
• BMO Financial group this bank features:
  Financial products and services information for business and personal customers; plus online banking; interest rates; tools; calculators and more.
  Web site: http://www4.bmo.com/
• HSBC The World’s Local Bank:
  This bank meets the local needs. Whether you are living and working in Canada, or moving to Canada, HSBC supports your step with experience and expertise. Website: http://www.hsbc.ca
• ING Direct:
  ING DIRECT differs from your regular bank. There are no branches. Everything is done by Internet, phone, or ABM, your savings are easily passed on to you, with much higher interest on deposits, lower interest on loans, and by charging no fees or service charges.
  Website: http://www.ingdirect.ca/en
• Scotia Bank:
  Innovative financial products and services are provided to individuals, small and medium-size businesses, corporations and governments across Canada and around the world.
  Website: http://www.scotiabank.com
• Alterna Bank:
  Alterna Bank is a wholly-owned subsidiary of Alterna Savings. Alterna savings is a cooperative credit union that first opened its doors in 1908 and it has been conducting business based on cooperative principles, where decisions are made based less on corporate profits and more on the needs of its members.
  Website: http://www.alterna.ca/
• Toronto Dominion Bank:
  This bank has its headquarters in Toronto and offices around the world. TD Bank Financial Group offers a full range of financial products and services. Website: http://www.td.com/
• Canadian Western Bank:
  Canadian Western Bank is the only Schedule I chartered bank with its headquarters and principal operations in Western Canada.
  Website: http://www.cwbank.com/
• ICICI Bank Canada:
  This bank provides personal and business banking services. It also offers NRI services, money transfer to India and Sri Lanka.
  Website: http://www.icicibank.ca/
• National Bank of Canada:
  This bank has remained as an active social and economic force for more than 140 years. This is the sixth largest chartered bank in Canada, with assets of close to billion, with its HQ in Montreal.
  Website: http://www.nbc.ca
• Pacific & Western Bank of Canada:
  Pacific & Western Bank of Canada is a “branchless” bank and one of the most efficient financial institutions in the country with operating costs lower than 1% of total assets.
  Website: http://www.pwbank.com/

For more banks weblinks log on to: http://www.qualisteam.com/Banks/North_America/Canada/

Opening a bank account

Banking in Canada is straightforward as all the banks offer similar quality services like: online banking; and automatic banking machines (ABMs - ATMs in the USA). You can’t survive in Canada without a bank account. You will need a bank to: receive your salary; rent or buy accommodation; pay for gas and electricity; getting a phone line; and other necessities.

Having chosen your bank you can specify your account requirements, in any of their branches. You are to provide two government issued pieces of identification (a passport, driver’s license, Provincial Health Card, Social Insurance Card) and proof of address (usually requested in the form of a utility bill). Foreign Nationals will also be asked to provide a reference from the employer/host university or educational institution or the previous bank.

When choosing a bank, take into consideration the distance between your bank and your place where you live/work, or any special package that your employer/university may have in order to minimize your banking fees.