Canada is known for its great universities and colleges, so much so that over 500,000 international students made plans to study here in 2022.
While studying in Canada is a fun and enriching experience — allowing students to experience Canada's great outdoors, all four seasons, poutine and maple everything — the banking system can be challenging to navigate.
Simplii Financial understands how hard it can be and aims to make students' lives easier with its range of digital-first, no-fee financial services specifically geared toward international students.
For example, Simplii’s International Student Banking Offer allows students to apply for a GIC account program with ease, which can help with getting a study permit.
Plus, if you refer another international student, you can pick up a $125 referral bonus.
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Open & activate an account by February 2024 for your chance to win $50,000
If you’re an international student, sign up for Simplii’s International Student Banking Offer and activate your account upon arrival in Canada (by February 28, 2024), for a chance to win $50,000 in Simplii's 2023 International Student Contest!
How can international students get their Canadian study permits faster?
Simplii’s International Student Banking Offer allows students to apply for a GIC program account while overseas and transfer up to $20,000 CAD in their preferred currency.
This can help them meet one of the eligibility requirements for the Student Direct Stream, which is one of the fastest ways to get a study permit in Canada.
Not only can students save on GIC program processing fees with Simplii (Up to $200 with other banks), but they also get to enjoy no-fee daily banking upon arrival and have access to money when they need it.
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Can an international student open a Simplii bank account in Canada?
Even if you don't need the GIC program, you can open a bank account with Simplii from home and be set up in time for your arrival in Canada.
Simplii's Student Deposit Program can be opened from over 96 international destinations and comes with up to $400 in welcome offers. Students can transfer up to $20,000 before arrival, and the funds become available when they're in the country and activate their accounts.
Plus, this is all for no monthly fee, unlimited transactions, free Interac e-Transfers and a credit card with up to a $2,000 limit.
What's the best way to transfer money internationally to & from Canada?
If you need to transfer funds quickly and easily between countries, you can use Simplii's Global Money Transfer, which provides no-transfer-fee, same-day money transfers to over 100 countries.
If you need cash, Simplii also does no-fee foreign currency ordering with free home delivery or post-office pickup.
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Which bank is best for international students in Canada?
Whether you're moving to a new campus or a new country, banking should be easy — and that's what Simplii Financial offers.
In fact, when Savvy New Canadians compared student banking options in Canada, Simplii came out as their top recommendation, and it's easy to see why.
When you sign up for a no-fee chequing account with Simplii Financial, you can enjoy up to $400 in welcome offers, no-fee Interac transfers, great customer service and a chance to win $50,000.
Plus, Simplii offers customer service in Cantonese, English, Hindi, Mandarin and Punjabi.
With Simplii, it's easy to cross "banking" off of your list, get set up and focus on your studies instead of worrying about money when you come to study in Canada.
To learn more about Simplii Financial, check out their website or follow them on Facebook, Instagram, Twitter or YouTube.
This content is for general informational purposes only and does not constitute financial, investment, legal, tax or accounting advice.