Banking Basics

Whether you choose to set up a bank account before or after you arrive, at some point you will need to become familiar with the Canadian banking system. You may check out the different types of financial institutions in Canada and review the various banking solutions available before deciding which institution will best serve your needs. Some banks will offer special accounts and discounted rates to newcomers and students, so please be sure to compare them.

Introduction to Local Financial Institutions

There are five major banks in Canada and most of these banks have branches near the university campus. In the following table, you will find the location info and contact details for the banks that are near to the St. John’s campus: 

Setting up your Account & Banking in Canada

To open a bank account after you arrive, you will need your passport, study permit and your student ID card. You might need to make an appointment to open a bank account, so please check their website or call before you go to the branch.

For more information, please check out the “Banking and Saving in Canada” online course to learn about banking in Canada, and explore different saving opportunities and services that make sense for you.


Internationalization Office

230 Elizabeth Ave, St. John's, NL, CANADA, A1B 3X9

Postal Address: P.O. Box 4200, St. John's, NL, CANADA, A1C 5S7

Tel: (709) 864-8000