The Social Insurance Number (SIN) is a 9 digit number that you need to work in Canada or to have access to government programs and benefits. A SIN is issued to one person only and it cannot legally be used by anyone else. You are responsible for protecting your SIN.
How to apply for a SIN number: https://www.canada.ca/en/employment-social-development/services/sin/apply.html
There are 88 banks in Canada and over 5,800 branches nationwide.
Percentage of Canadians who do most of their banking digitally, using online and mobile banking: 76%.
- There are three main forms of payments in Canada:
- Credit card (most popular)
- Debit card (popular)
- Cash (moderately popular)
- Many Canadians also use e-transfer – the transfer of money through online banking. Interac e-Transfer is a fast, secure and convenient way to send money to anyone in Canada using online banking. The participating bank or credit union transfers the funds using established and secure banking procedures. Transfers are almost instant, but can take up to 30 minutes depending on your bank or credit union.
You can find more information here: https://www.interac.ca/en/consumers/products/interac-e-transfer/
- ‘The Big Five’ is a term used to describe the five largest and most influential banks in Canada:
- RBC (the Royal Bank of Canada)
- TD Canada Trust (Toronto Dominion Bank)
- Scotiabank (the Bank of Nova Scotia)
- BMO (the Bank of Montreal)
- CIBC (Canadian Imperial Bank of Commerce).
Most of these banks have special offers for newcomers. There are many other banks that offer free online services and don’t posses ‘brick and mortar offices’ such as Simplii financial.
- Combined, the Big Five banks hold over CAD$100 billion in assets. This is more than 90% of the market share.
More about Canadian banking system: https://cba.ca/fast-facts-the-canadian-banking-system
Tip #3 – Find an apartment for rent
Before you consider signing rental agreement you should know some important information on the government website. Besides fees and the location, you should consider reading carefully your Rental agreement making sure to fully understand and the legal terms, your landlord’s and your obligations https://www.canada.ca/en/financial-consumer-agency/services/renting-first-apartment.htm
Tip #4 – Find a job
We hope that our websites will help you to find a job in Canada! If you can’t find what are you looking for, we would recommend you to search through the (mostly online) job fairs. Some recommended websites in that field are: