Banking Services in Quebec
Banking in Canada is fairly straightforward. Banks offer pretty much the same services as in other countries like online banking and ATM or ABM cards (ABM = Automatic Banking Machine - where you get cash from). You will need to open a bank account if you plan on working in order to receive payment from your employer. Opening an account is also helpful for paying rent and expenses.
The biggest Canadian banks are:
After choosing a bank plan that fits your lifestyle and budget, you can go to one of their branches and tell them which kind of account you would like to open. You will probably have to provide them with two government issued pieces of identification (e.g. a passport, driver's license, Provincial Health Card, Social Insurance Card) and proof of address (usually rental agreement or utility bill.
Canadian currency comes in notes and coin form.
The notes come in $5, $10, $20, $50, $100.
Coins are in 1¢, 5¢, 10¢, 25¢, 50¢, $1, and $2 -- and the $1 is affectionatley known as the "Loonie"
Check out www.xe.com for current exchange rates for the Canadian dollar.
Choosing a bank
To choose a bank, think about how far it is from the closest bank office to where you live/work, and be sure to ask about account opening fees or ABM withdrawal fees so you know the extra fees that can occur from managing your money. Also, i highly recommend seeing if your bank in your home country has any agreements with banks in Canada as that can save you money on ATM fees and cashing travelers checks or transferring funds.The biggest Canadian banks are:
Opening a Bank Account
The most practical account to set up while on a working holiday is a checking account, from which you should receive a debit card to access your money. Some checking accounts made for students offer free online banking and other services. You may have to pay fees if not a student. Fees for a basic checking account are usually between CAD$2 and CAD$10 per month. If you want, you can also open a savings account but these are not as practical as having a checking account since you will only be in Canada for a short time.After choosing a bank plan that fits your lifestyle and budget, you can go to one of their branches and tell them which kind of account you would like to open. You will probably have to provide them with two government issued pieces of identification (e.g. a passport, driver's license, Provincial Health Card, Social Insurance Card) and proof of address (usually rental agreement or utility bill.
Banking Hours
Normal banking hours in Canada are Monday to Friday from 9:30 until 16:30. Some banks and may be open later or open on Saturdays.Currency
Canadian currency comes in notes and coin form.
The notes come in $5, $10, $20, $50, $100.
Coins are in 1¢, 5¢, 10¢, 25¢, 50¢, $1, and $2 -- and the $1 is affectionatley known as the "Loonie"
Check out www.xe.com for current exchange rates for the Canadian dollar.