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Banking arrangements

Things to do before coming to Canada

  • Contact your bank

    Speak with your bank before your leave your home country. If you make arrangements, you may be able to use your bank card in Canada at certain banks. If your family plans to send you money, you might be able to arrange for them to put money into your account at home, which you can then access in Canada. If you don't make these arrangements, your family will have to send money by wire transfer to your Canadian bank account. You must pay fees to make wire transfers.

  • Contact your credit card company

    Bring your credit card(s) but make sure you tell your credit card company that you will be in Canada. If they are not told in advance, they might assume it was stolen and put a hold on your account after the first time you use it in Canada.

  • Pay your first tuition instalment

    To find out how to make payments to the university, please visit the Payment options page. 

    To find out when your payments are due, visit the Important dates and deadlines page.

  • Exchange money to Canadian dollars

    The exchange rate you can get at your own bank back home or at the airport in your home country will likely be better than what you are given after you arrive in Canada. We recommended that you travel with at least $200 to $300 on you. This is in case you need to pay for a hotel for a night, have unexpected transportation costs once you arrive, or your bank card/credit card doesn't work in Canada as you expected it would.

    Do not keep all your cash in one place. Consider splitting it between your luggage, carry-on luggage and keeping it on you.


Canadian money

  • Canadian currency

    Both paper money and coins are used in Canada. Canadian paper money comes in these denominations:

    • $5
    • $10
    • $20
    • $50
    • $100

    Canadian coins come in these denominations:

    Denomination

    Name

    Fraction of one dollar

    Commonly called

    Five cents

    1/20

    Nickel

    10¢

    10 cents

    1/10

    Dime

    25¢

    25 cents

    1/4

    Quarter

    $1

    One dollar

    1/1

    Loonie

    $2

    Two dollars

    2/1

    Toonie


Canadian bank accounts and credit cards


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