Is Scotiabank good for new immigrants in Canada?

Short Answer

Yes, Scotiabank is good for new immigrants in Canada. They offer products and services designed especially for individuals and families that are new to Canada.

Detailed Answer

Scotiabank or The Bank of Nova Scotia is one of the top 5 Canadian banks. It helps customers, their families and their communities achieve success through a broad range of products and services.

What is Scotiabank?

Scotiabank was founded in 1832 in Halifax, Nova Scotia, where it was headquartered until relocating to Toronto in 1900.

Scotiabank has billed itself as "Canada's most international bank" due to its acquisitions primarily in Latin America and the Caribbean, and also in Europe and parts of Asia.

The Bank of Nova Scotia, operating as Scotiabank, is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario.

It is one of Canada's Big Five banks and ranks third in terms of deposits and market value.

It provides a variety of goods and services, including personal and business banking, wealth management, and corporate and investment banking, to more than 25 million customers worldwide.

Scotiabank's Services for New Immigrants in Canada

Scotiabank’s services for newcomers help them establish their financial well-being before and after moving.

The** Scotiabank StartRight programme** is designed to simplify banking for Canadian permanent residents, international students and foreign workers who have recently immigrated to Canada.

It offers benefits that can help set you up for success, including:

  • No monthly account fees for one year for bank account offering unlimited transactions and e-transfers
  • Unlimited no-fee international money transfers
  • Free small safety deposit box for a year
  • Credit cards without any credit history
  • Specialized mortgage for newcomers to Canada
  • Knowledgeable help from financial advisors
  • Approving newcomers for a credit card so they can start building their credit score, with credit up to $15k.
  • Specialized mortgages with competitive rates for newcomers who will be permanent residents.
  • Ability to purchase a new vehicle with only 10% down.
  • 10 free equity trades when you invest a minimum of $1,000 in a new Scotia iTRADE account.

Scotiabank also allows newcomers to set up their banking before they leave their home country. The Scotiabank International Account allows individuals to apply for an international account and transfer up to $50,000 before moving to Canada.

This step can help show proof of funds during the immigration process.

For those who have landed in Canada already, with StartRight you can get up to $1,300 in bonuses and savings in the first year for a limited time.

Is Scotiabank good for new immigrants in Canada?

Scotiabank is proud of its long history of helping newcomers set themselves up for financial success in Canada. Have you tried its financial products and services? Do share your feedback.

Tagged With: scotiabankbank of nova scotiascotiabank canadaStartRight
Categories: Banking
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