There are several ways to pay for studying in Canada.

Credit cards

Banking in Canada is very developed. Generally, Canadians don't carry large amounts of cash with them. They usually use credit cards for shopping and dining, and even pay 1% ~ 15% of tips with them. There is no limit on the number of times a credit card can be used, but the amount used each month cannot exceed the prescribed limit. Anyone who has a deposit in the bank can apply for a credit card, and the bank decides whether to approve it according to the applicant's deposit amount and credit degree. The most commonly used credit cards in Canada are MASTER

CARD and VISA, which belong to different banks.

Opening an account

Anyone in Canada can open an account in a bank. After you have an account, the bank will give you a passbook to record the current accounts. You can also apply for ATM cards, credit cards and special checks with your bank passbook and account number. To open an account in a bank, you must show your driver's license, medical insurance certificate or social insurance certificate. If you don't have these documents, you can show your passport that can prove your identity or a letter of introduction from the unit that Canada invited you to visit Canada. For foreigners who have only lived in Canada for about half a year, it is most appropriate to open a checking account.

bank teller machines

Bank machines, namely automatic withdrawal and deposit machines, can be seen everywhere in front of banks, shopping centers and beside streets. They are used in a way similar to that of ATMs in Chinese banks. Just insert the bank card into the machine, press the password given by the bank, and then follow the instructions on the screen step by step, you can withdraw money or deposit money. You will also receive a statement telling you the balance at that time. The bank machine provides all-weather service to customers, but it is limited to four withdrawals in one day.

Traveler's checks

If you go to Canada only for a half-month visit, the living expenses will be about 1,5 Canadian dollars. Bring cash and be afraid of losing it. The Bank of Canada will also disapprove of your opening a savings account because you are working long hours. The best way is to buy traveler's checks in cash at the Bank of China before going abroad. Shops and high-end hotels in Canada can accept traveler's checks directly after you show your passport. You can also cash traveler's checks at any big bank. If a traveler's check is lost or stolen, tell the bank concerned the number of the check and they will issue you another check or give you a refund. For the convenience of use, when buying traveler's checks, you can exchange some small denominations properly. Please don't sign the traveler's checks immediately after buying them, and it is best to sign them in Chinese when paying, in case people imitate them. When traveling, you should separate the list of traveler's check numbers from the checks. In case the checks are lost, you can still report the loss to the bank or company that issued the checks according to the traveler's check numbers.