The first thing you do after you settle down in your place of residence is to apply for a bank card, because you need a valid account number to apply for a mobile phone card. There are five local banks in Canada: Dominic Canada Trust Bank, CIBC Bank, Bank of Montreal, Royal Bank and Scotiabank. There are also Bank of China, HSBC and Online Banking ing. To apply for a bank card, you need to bring your passport, study permit, school admission notice or student ID card. Because of the school's discount, you can open a student account, and the student account is free of annual fees, which will save money. Which bank to choose, you can know the relevant information of each bank first, and then prepare to handle it.

Personal bank accounts generally include two types: checking accounts and savings accounts. There are also foreign currency accounts, usually US dollar accounts.

ChequingAccount has no interest, SavingAccount has interest. If you want to use checks, you must have a checking account. Which account to choose should be based on personal circumstances, mainly considering interest, service fee and convenience.

You can apply for a credit card while applying for a bank card. There are three main credit cards: Visa, Master and Amex Express. The credit cards of major banks in Canada are generally Visa cards, and only BMO's is Master card. Visa and Master cards are generally accepted by merchants, but some only accept Master cards, and it is best to use more than one card. However, for foreign students who have just arrived in Canada, it is generally difficult to apply for a credit card without a credit record.

If you apply for a credit card, there are two ways: first, you can get a credit card with a limit of 1000 USD by paying a deposit, such as 1000 USD. This kind of credit card is actually a debit card, and it doesn't make much sense to accumulate credit points. The second is to apply for a small credit card and accumulate credit value. Generally, you can get a bank card on the spot, and the credit card will be sent to the address written at the time of application within two weeks. After receiving the credit card, follow the prompts and call to activate it.

Mobile phone SIM card

There are two options for handling mobile phone cards. One is to bring a mobile phone from China. If you bring a mobile phone from China, it must be 3-frequency before you can get a card. Or you can sign a cooperation plan with the telephone company and buy a mobile phone to handle the card at the same time.

You need to provide documents to prove your identity, passport or driver's license. Of course, buying a mobile phone requires a fixed mailing address and bank card. It is best to bring the school's admission notice or student ID card, because there may be a student package discount in August and September. The monthly mobile phone bill can be bound to a credit card or paid by online banking every month.

After processing, the monthly bill will be mailed to your address in the future. There are many telephone companies in Canada, including Rogers, Telus, Bell and Fido. All major shopping malls have their stores, and you can sign your mobile phone directly on site. Of course, you can visit the websites of these telephone companies to check the specific telephone packages.

credit card

It is very convenient to use a credit card for shopping in Canada, but foreign students who have just arrived in Canada can't apply immediately, because Canadian banks don't recognize credit records other than their own, but don't worry, there are some ways to get a credit card as soon as possible and establish personal credit records for themselves.

Guaranteed credit card

If you want to get a guaranteed credit card, you need to go to the bank to open an account in person and go through the security procedures. Collateral is usually deposited in your bank account, and the amount is equal to or greater than the credit limit you require, which is often said? Margin? . For example, if you apply for a credit card with a limit of 1000 USD, you can use 1000 USD in your bank account as a guarantee. By using secured credit cards to accumulate credit records, when your credit records meet certain requirements, you can cancel the guarantee conditions and apply for ordinary credit cards. If you don't pay back on time after swiping your card, the bank has the right to deduct this part of the fee from your account. It should be noted that the interest of secured credit cards is higher than that of ordinary credit cards, and interest is generally deducted from deposits. Although it needs to pay a monthly fee or an annual fee like an ordinary card, it may also need to pay a transaction service fee.

When choosing a secure credit card, you should pay attention to:

Be careful of secured credit card issuers you don't know. If you have any questions, please call FCAC (Canada Financial Consumption Bureau) toll-free number 1-866-464-3222.

Beware of overseas credit card issuers. If these companies don't set up branches in Canada, it will be difficult to solve the problems.

Avoid applying for less well-known secured credit cards, because these credit cards are only recognized by a few stores, or you can only use them to swipe your card when purchasing designated goods.

Before you begin to fill out the credit card application form, you must read every relevant clause carefully. If you are in doubt, don't apply rashly.

United credit card

When studying in Canada, students can also apply for a joint credit card through a guarantor if they don't have enough cash as collateral. The guarantor is a relative or friend of a Canadian student, and the guarantor must have a stable financial source. However, it must be clear that once the international students fail to repay their credit cards, the bank will recourse to the guarantor.

Department store credit card

You can try to apply for a credit card from a department store, such as Bay or Future Store. These credit cards are used by department stores to attract customers to shop, and only card issuing companies use them. It is characterized by high interest rate and short repayment period, but it can help you establish a credit record.