Banking system
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Banking system

Banking services

You will definitely need a bank account for your day-to-day transactions. Find out about the different services offered by banks, caisses populaires (credit unions) and trust companies before deciding which one offers an account that is best suited to your needs, offers the best rate of return and has the lowest service fees.

Bank account

Wait until you have settled in Québec before closing your current bank account, since opening a new account in Québec may take some time.

To open a bank account, simply visit the branch of your choice. You will usually be asked to provide two documents proving your identity. In some cases, institutions will also accept sponsorship by a customer they know. You can open a personal account even if you do not have a job. Furthermore, you are not required to deposit money in your new account.

All financial institutions offer a range of convenient services: debit card, safety deposit box rental, traveller’s cheques, foreign currency exchange, various forms of loans, money transfers, investment options, direct deposit of your salary, certified cheques, etc. Certain institutions also offer welcome and information services for immigrants. Take the time to inform yourself before choosing your financial institution.

Consumer associations and Option consommateurs can also inform you about your rights when you want to open an account in a financial institution and can help you through the process. They can also help you balance your personal or family budget.

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Last modification : 2018-02-28
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