The best bank for newcomers to Canada

Are you new to Canada? Take advantage of an account with no fixed monthly fees for 3 years.1

Open an account online

Named by MoneySense in 2023.

Your offer for newcomers

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Bank account

Open an account with no fixed monthly fee for up to 3 years.

Save up to $574.20**

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Mastercard® credit card

Get settled in Canada with help from a National Bank of Canada Mastercard credit card with no credit history.2,3

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International transfers

Send international transfers online to 19 countries in the European Union, and more. 

$5.95 per transfer4

Intermediary bank or beneficiary fees may apply.

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Legal support service

Get legal information by speaking directly with a lawyer by telephone on a variety of topics such as immigration, housing, and marriage.5

At no cost for 12 months

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Paper statements by mail

Receive your bank statements by mail with no fees for the first year.

You’ll save $30

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Ordering cheques

Get your first order of cheques free.

You’ll save $67.10


National Bank of Canada has been named the Best Bank for Newcomers to Canada for 2023 by MoneySense.


National Bank® of Canada mycreditTM Mastercard® credit card was named the best credit card for newcomers by Milesopedia in 2023.

Get the offer in just a few easy steps

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Open an account online

You’ll need:

  • A Canadian phone number 
  • One of the following documents: 
    • A valid and eligible passport from a country other than Canada 
    • A Canadian permanent resident card 
    • A Canadian driver's licence 
    • A provincial or federal identification card (excluding Quebec) 
    • A Quebec Health Insurance Card - new version
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Receive a confirmation email

Within a couple of days of your request, you’ll receive a confirmation email with your account information. You’ll then receive your debit card in the mail.

Make it happen in Canada with these practical tips

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Canadian immigration guide

Take advantage of a complete guide to life and finance in Canada to accompany you every step of the way.

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Even more resources

To ease your transition, we’ve put together a series of articles to answer the most common questions newcomers have about housing, employment, finances and more.

More than just a bank account

Talk to us about your projects in Canada

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Contact us on Messenger

Send us your questions on Facebook Messenger. We’ll answer them from 9 a.m. to 6 p.m. on weekdays, and from 9 a.m. to 5 p.m. (ET) on weekends and holidays.

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Take advantage of the offer

Complete the application form with a Canadian phone number, and a valid and eligible foreign passport, or a Canadian permanent resident card.

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Need more information?

Check out our Help centre to find the information you’re looking for.

Little details that matter

  • Be a newcomer 18 years of age or older
  • Apply to open an account from your home country up to 90 days before you arrive in Canada, or within 5 years of your arrival
  • Be the only user of the account
  • The offer for newcomers is open to permanent residents, temporary workers and international students

Baseline savings of $334.92 over three years for the account

Save a minimum of $334.92 over three years if you meet the following conditions:

  • Open a bank account online before arriving with our secure form or visit a branch upon arrival.

  • Sign up for our offer for newcomers

Savings of $334.92 based on:

  • First year: no flat monthly fee (savings of $15.95/month for 12 months)

  • Second year: flat monthly fee of $7.98 instead of $15.95 (savings of $7.97/month for 12 months)

  • Third year: flat monthly fee of $11.96 instead of $15.95 (savings of $3.99/month for 12 months)

To be eligible for savings, you must commit to keeping the account and package for a minimum of 36 months. You will receive no further discounts if the products are cancelled. The full flat monthly fee of $15.95 will be applied to your banking package from the fourth year. You’ll be able to browse our packages and choose the one that best suits your needs. 

** Maximum savings of $574.20 over three years for the account

Your savings will be $574.20 over 3 years with your newcomer’s banking package on a fixed monthly fee ($15.95/month x 36 months) if you meet the following conditions.

  1. Visit a branch and open a bank account.
  2. Sign up for our offer for newcomers.
  3. During the first year after signing up for the offer for newcomers to Canada:
    • Apply for and activate an eligible National Bank Mastercard personal credit card2
    • Sign up to receive eStatements
  4. During the second and third years after signing up for the offer for newcomers to Canada: 
    • Set up salary deposits to your National Bank account and have your pay deposited at least once a month; OR
    • Make at least two electronic bill payments from your National Bank account every month.

To be eligible for this, you agree to maintain this account for a minimum of 36 months. You agree that there are no additional savings available from the moment you longer keep these products. You’ll pay the full fixed monthly fee of $15.95/month for your banking package starting in the fourth year after you sign up for the offer for newcomers. You’ll be able to browse our packages and choose the one that best suits your needs. 

Overall savings of up to $671.30 over 3 years 

You could enjoy a maximum overall savings of $671.30 over 3 years without the following fees being charged:  

  • The flat monthly fee for the Newcomers to Canada package for 3 years ($15.95/month for 36 months)  
  • The fee for your first order of cheques ($67.10/order)  
  • Statements sent by mail free of charge for the first year ($30)

Note on savings

To enjoy the full savings, you must keep the products and services and carry out all required transactions for a minimum of 36 months unless otherwise indicated. If you fail to meet the conditions of the offer, your savings will be lower. Your savings will be lower if you do not order cheques and/or choose to not receive paper statements by mail for free the first year.

If during a given month, you keep your bank account and banking package but do not keep all of the other products and services indicated or do not carry out all the required transactions (e.g. only one electronic bill payment per month instead of two), you will be charged National Bank's service fee for that month. The service fee will be $7.98 monthly for the second year and $11.96 for the third. You will still enjoy monthly savings of $7.97 during the second year and $3.99 during the third.

Finally, if you no longer hold a bank account or banking package for newcomers, you will no longer be eligible for savings.

You must first open a National Bank Direct Brokerage account. Certain conditions apply. 

Options commission is $0 + $1.25/contract. A minimum fee of $6.25/trade applies. The maximum fee is $19.95 when the transaction value is less than $2,000. An option contract gives the holder the right, but not the obligation, to buy or sell a given position in an underlying security at a given exercise price. Contracts are for 100 shares.

National Bank Direct Brokerage, as a division of a Canadian bank subsidiary, is the first broker in Canada to offer a commission-free online brokerage solution for Canadian and U.S. stocks.

  • Trades must have been made through our electronic solutions.
  • Management and other fees may apply to ETF investments. Please read the prospectus before investment. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. 

Regular pricing on equities trade applies if the $0 commission conditions on ETFs are not met.

For more details, consult our page for exclusive National Bank Direct Brokerage offers.

National Bank Direct Brokerage (NBDB) is a division of National Bank Financial Inc. (NBF) and a trademark of National Bank of Canada (NBC), used under licence by NBF. NBF is a member of the Canadian Investment Regulatory Organization and of the Canadian Investor Protection Fund and a wholly-owned subsidiary of NBC, which is a public company listed on the Toronto Stock Exchange (TSX: NA) NBDB provides order execution only services and makes no investment recommendations. Clients are solely responsible for the financial and tax consequences of their investment decisions.

Download and read the details of our offer for newcomers in one of the following languages.


TM National Bank Assistance Network is a trademark of National Bank of Canada, used under licence by authorized third parties.

® Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank.

®THE EXCHANGE and Accel are registered trademarks of Fiserv Inc.

®CIRRUS is a registered trademark of Mastercard International Incorporated. Authorized user: National Bank. 

®Allpoint is a registered trademark of ATM National LLC.

National Bank of Canada is not a licensed bank in France or other countries outside of Canada.

National Bank of Canada was named the best bank for newcomers to Canada by MoneySense in 2023. MoneySense establishes its annual rankings by selecting some of the largest financial institutions and comparing them for fees, access to credit and services offered to newcomers.

National Bank's mycredit® Mastercard® credit card has won the Milesopedia best credit card for newcomers in 2023. Each year, Milesopedia examines the credit card offers of the largest financial institutions and establishes its ranking according to more than 150 criteria such as fees, welcome offers, minimum income required, number of points per category, account credits, insurance, airport lounge access, etc.

  1. Our banking offer is available to newcomers from their home countries up to 90 days before arriving in Canada or at any point during your first 5 years in Canada. See the above terms and conditions of the offer for no fixed monthly fee for 3 years. The offer may be modified, extended or withdrawn, without prior notice, at any time. The offer may not be combined or used with any other National Bank offer, promotion or benefit. Fees may apply for transactions not included in the banking offer for newcomers. For more information on transaction fees, see our Guide to Personal Banking Solutions [PDF].
  2. Financing is subject to credit approval by National Bank. Certain conditions apply. Eligible credit cards: mycredit, MC1, Allure, Syncro, Platinum, ECHO Cashback, World and World Elite.
  3. Guarantee may be required under certain circumstances. Financing is subject to credit approval by National Bank. Certain conditions apply.
  4. International Transfer by Mastercard® and Interac® are available at a cost of $5.95 per transaction, no matter which account you hold. The amount received by the beneficiary may differ from the amount sent considering that the intermediary bank or the beneficiary’s bank will apply their fees to the original transfer’s amount. This service allows you to transfer funds to the United States, India, Philippines, United Kingdom and the following 19 European countries: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.
  5. Telephone assistance service offered by National Bank Assistance Network, valid for 12 months from your account opening date. The content of the packages and terms described are subject to change.
  6. National Bank ABMs or ABMs in THE EXCHANGEᴹᴰ network. Use all our ABM features in six languages (French, English, Spanish, Traditional Chinese, Punjabi, and Arabic).
  7. Locate CIRRUS, Maestro® and NYCE® ABMs and payment terminals with the logos on the back of your card. You can then use your debit card at these ABMs in the United States and around the world, including our network of partners Accel®, Cirrus® and Allpoint®. Administrative or exchange rate fees may apply.