Bank accounts in CanadaNBNational Bank of Canada Bank Account for Newcomers
Best for: newcomers who want low fees for up to three years
- Monthly fee
- $0 in year 1, $7.98 in year 2
- Who can open it
- 18 or over, in Canada under 5 years
- Opens online
- Yes
- Fees
- No fixed monthly fee in the first year. $7.98 a month in the second year and $11.96 a month in the third, instead of $15.95.
- Who can apply
- Newcomer, Student
- Currency
- CAD
Pros
- No fixed monthly fee in the first year
- A reduced monthly fee in the second and third years
- The online application takes less than 5 minutes
- You can start the application up to 90 days before you arrive
Cons
- You need permanent resident status, or temporary status with a valid work or study permit
- The account moves to a standard package when the offer ends
- The offer is valid until 3 November 2026 and can change without notice
How to apply
Fill in the online application form. If you have not arrived yet, book an appointment for when you land to finish opening the account.
Verified 13 Oct 2026 · source
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