Understand Canada’s financial system and tools
Why Banking Matters
Banking is the foundation of all personal finance in Canada. Whether you are opening your first account or switching institutions, understanding how the system works helps you avoid costly fees and build financial security.
What You Will Learn
Big 5 Major Banks in Canada
Credit unions & digital banks programs, and local organizations.
Account types
Chequing vs. Savings
Which one is right for what
Everyday banking tools
Debit, Interac e-Transfer, and online banking.
Understanding fees
What banks charge and how to avoid unnecessary costs
Newcomer Tip
Many banks offer free newcomer banking packages for the first year. saving $15–$20/month in fees. Ask about “newcomer banking” when you visit a branch or apply online.
