This credit card will earn you some solid cash back on stuff like groceries and recurring bill payments, … Compare the Best Student Bank Accounts in Canada. In addition to the above list of biggest banks in Canada, listed below are the best Canadian banks that offer some of the best high-interest savings accounts in Canada. As part of the Global ATM Alliance, Scotiabank clients have access to fee-free cash withdrawals at more than 44,000 cash machines in over 40 countries around the world, making it the best student bank account for a semester abroad. An extra $150 is available to those who set up a payroll direct deposit and receive at least $100 per month for three months. The Scotiabank Student Banking Advantage Plan is well designed to meet the needs of a student with a $0 monthly fee and unlimited Interac e-Transfers that make it easy to transfer money between your friends and family within Canada. open the bank account online, register, and make five debit transactions. If you’re an Indian student with your sights set on attending a Canadian university or college … The RBC Student Banking Account comes with $60 when a student like you opens an account. For more details read our MoneySense Monetization policy. About Scotiabank: Chances are you’ve already heard of Scotiabank. Why We Love EQ Bank’s Savings Account: The EQ Bank Hybrid Savings Plus Account works precisely like any chequing account on this list. GICs come in all shapes and sizes: Long- and short-term, cashable and non-redeemable, and even equity-linked GICs. The RBC Newcomer Advantage is a program offered by Canada’s largest bank to permanent residents and international students. Making sense of the markets this week: May 17, 2021, Selling your house? Even non-winners can still win big. Student bank accounts in Canada CIBC. Did we mention that you also get $60, just for opening an account? These requirements vary between institutions and can be as simple as showing a student card; some banks require a declaration, including expected graduation date. A comprehensive guide to the best banking services of the best banks in Canada and how to find the best bank account in Canada. The major financial institution has conducted business in Canada for over 200 years. Nonetheless, EQ Bank’s high-interest savings account can help you earn some interest on your savings. It offers some of the best online banking services with no fees, such as transfers, bill payments, and Interac e-Transfers. The EQ Bank Hybrid Savings Plus Account works precisely like any. A number of online-only banks also offer great student bank accounts, such as Tangerine and Simplii Financial. Management Expense Ratio explained, Canada’s 10 best credit card promotions and sign-up offers for 2021. e-Transfers and its interest rate (0.25% on every dollar) that will put scant funds to their best use. The BMO Plus Student Chequing Account comes with no monthly fees, 30 monthly point-of-sale transactions every month, and unlimited Interac e-transfers. The account offers no monthly fees or minimum balance requirements and comes with unlimited Interac e-transfers, and 25 free point-of-sale transactions per month. And which coffee shops accept your meal plan card? Though not marketed as a student account specifically, the Simplii No Fee Chequing Account has lots to love for folks on a budget. Which is the right student account? Why We Love It: The BMO Plus Students Plan comes with a chance to win $10,500 that goes towards one lucky student’s tuition. Are you looking for a good bank account in Canada? Why We Love It: Simplii Financial is one of the most popular online banks in Canada. For those most interested in movies, food and entertainment, SCENE Rewards offer great value—and if you go for the SCENE Student Banking Bundle (the Student Banking Advantage Plan plus a SCENE Visa card plus a Momentum Plus Savings Account), you can earn up to 12,500 additional reward points. Required fields are marked *. Rogers offers a variety of wireless services to its customers in Canada, allowing them to be connected through their mobile devices using talk, text and data capabilities. Cardholders can also use any of the 3,600 Scotiabank ATMs available across Canada, or visit Tangerine Cafes, located in Vancouver, Calgary, Toronto, and Montreal. Holding this account also automatically enrolls students in the SPC rewards program, which offers deals and discounts to top brands like American Eagle, Foot Locker, and Apple. They typically carry reduced fees and may have special features or perks tailored for students. The CIBC Smart Account for Students includes unlimited transactions and Interac e-Transfers for no monthly fee for as long as a student is in school—plus six months more after graduation. These money transfers can take up to two or three days to arrive. : 25 free paper cheques; 0.25% interest on every dollar. Why We Love It: The RBC Student Banking Account comes with $60 when a student like you opens an account. There are zero monthly fees and unlimited free transactions, even for international transfers—a bonus for international students. Share on Linkedin AdvisoryHQ’s List of Best Canadian Banks with the Best High-Interest Savings Accounts. That said, students with an existing relationship to a big bank might be able to bundle services for big savings and perks; be sure to ask before you sign up. National Bank is a great option for students, especially ones living in Quebec, who value accessibility and convenience. Please, MoneySense is fully owned by Ratehub Inc. but remains editorially independent. If you find yourself travelling abroad, you can use your Scotiabank debit card to avoid some ATM fees by using the Global ATM Alliance, which is available in several countries across the globe. Although this package doesn’t offer unlimited transactions, the first 25 per month are free and the account includes unlimited Interac e-Transfers, which should cover the spending habits of most students. Below are two great financial products that can give your new chequing account the extra oomph it needs to ensure your financial independence keeps growing, well beyond your days on campus. However, outgoing Interac e-Transfers count towards your monthly transaction allowance, so plan accordingly! Depending on how often you withdraw cash, whether you prefer to earn points on your debit purchases or want unlimited transactions and Interac e-transfers, the list of accounts below should have an option for you. About Wealthsimple: Wealthsimple is a robo-advisor. And, for those also using a Signature RBC Rewards Visa or WestJet RBC Mastercard, a reimbursement of the $39 annual fee could be on your way. An online brokerage – also known as a discount brokerage – is a must if you want to take investing into your own hands and trade individual stocks, bonds, or exchange-traded funds (ETFs). The emergence of online banks has also been a boon to cost-conscious students; though they don’t tend to offer accounts specifically for students, many offer attractive, low-cost options with features similar to traditional student bank accounts. Can you claim a principal residence exemption on real estate occupied by a child? About National Bank: National Bank is the largest bank in Quebec and the second-largest financial institution in Quebec. Cardholders can also access over 3,400 CIBC ATMs at––you guessed it––no additional charge. These could include membership in points programs, access to special discounts, rebates or higher interest rates. Formerly known as President’s Choice Financial, Simplii Financial came into existence after a business relationship between President’s Choice and CIBC came to an end. 1,200,000 RBC Online: Best For Bundles. Many Alterna Savings branches are located on university and college campuses. We’ve also added a few savings and investment options that can set you up for a better financial future early on. EQ Bank: Best For Super Savers. And account holders are eligible to enter a, massive contest to win $35,000 towards tuition costs, : Get student discounts and deals with SPC, : Earn $60 when you open the account and make three Visa debit purchases within the first two months, plus enter for your chance to win $35,000 in tuition, : Affordable international money transfers, This chequing account will appeal to students for its free unlimited transactions and. 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