|Now that you’ve arrived in Canada, one of the first things you’ll need to do is to look after your finances by opening a bank account. A TD Canada Trust branch representative can make it easy and comfortable for you.|
Opening a bank account gives you easy access to your money so you can make basic purchases and get your family settled.
TD Canada Trust offers a choice of accounts for chequing, savings, investing and more.
A home, car and education are just a few goals you may choose to finance with personal credit. Managing personal credit wisely is the first step to building a good credit history.
Protecting your Cash and Valuables
A safety deposit box at a TD Canada Trust branch can protect your important documents and valuables from fire, theft or loss.
About Canadian Finance
Using Money in Canada
Canadian currency comes in dollars and cents. $5 (dollars), $10, $50 and $100 bills are paper and 1¢ (cent), 5¢, 10¢, 25¢, $1 (known as the “loonie”) and $2 (known as the “toonie”) are coins.
To check today’s exchange rate for converting international currency to Canadian dollars, click here »
One of your first expenses in Canada will be accommodation, but you may also need to budget for other expenses such as medical insurance, transportation, child care, utilities (such as electricity (“hydro”), cable TV, Internet, and telephone.
Canadians often use personal credit to make it easier to manage their finances and meet important goals. Using credit wisely can help you build a strong credit history.
In Canada, the price you see on an item is not the final price you pay. Goods and Services Tax (GST) and Provincial Sales Tax (PST) or Harmonized Sales Tax (HST) will be added at the time of purchase. All residents of Canada are also subject to income tax. Your employer usually takes income tax deductions from your pay cheques.
Here are definitions of Canadian financial and banking terms.