International banks in Canada for nomads and frequent travel workers

If you’re traveling a lot for work, or perhaps splitting life between Canada and another country, choosing the right bank can save you time, fees, and stress. In this guide to international banks in Canada, we picked five well-known banks with physical branches and travel-friendly tools like international money transfers, newcomer packages, and strong mobile banking.

The right international bank can make it easier to:

• Send money abroad quickly (and predictably).
• Avoid or reduce transfer fees.
• Bank online while still having branch support when you need it.
• Open an account as a newcomer, student, or foreign worker.

To keep this guide as practical as possible, the five banks below were selected using these criteria:

• Operates in Canada with physical branches. This is ideal for international customers who prefer to speak to a real person when solving problems with cards, accounts, identity checks, and so on.
• Clear international transfer options or newcomer pathways.

Scotiabank

Origin

Scotiabank is one of Canada’s major traditional banks with extensive in-person banking access across the country. It has been in operation for over 190 years, founded on March 30, 1832, in Halifax, Nova Scotia.

Countries where this bank operates (and potential restrictions)

The Scotia International Money Transfer service can be used in 20 countries including the US, UK, Australia, and several European countries.

When opening an account, key eligible countries include Brazil, Chile, China, Colombia, France, Germany, India, Mexico, Pakistan, and Peru.

Operation restrictions

• Minimum transfer amount: $100 CAD. There is a $1.99 transaction fee. 
• Recipients get funds in up to 5 business days.

Online-only vs physical card

As a traditional bank, Scotiabank provides a standard physical debit card. With every Scotia account opening, you also get:

• Mobile and online banking
• Mobile cheque deposit
• Convenient shopping with VISA Debit and Interac Flash payments
• Apple Pay, Google Pay, and Samsung Pay

Requirements to open a bank account

Having a permanent address is not necessary, but you may be asked for a supporting document, such as a recent utility or tax bill, which includes both your name and address. Being employed is also not a requirement.

To open a personal deposit account, you must prove your identity using one of three options:

1. One government-issued photo ID from the bank’s acceptable list (e.g., Canadian passport, PR card, certain provincial/territorial photo IDs, valid foreign passport).
2. Two documents from independent reliable sources (using the bank’s “dual process” document list).
3. If you can’t provide (1) or (2), you can use a reliable document showing your name and date of birth, but only if your identity is also confirmed by:
   • a bank customer in good standing, or
   • someone in good standing in the community where you’re opening the account.

The acceptable photo ID examples listed include: Canadian driver’s licence (with a Quebec exception), Canadian passport, citizenship/naturalisation documents, PR card, some health cards with photo (where permitted), various provincial/territorial photo ID cards, Canadian Forces/DND ID, firearms licence, Nexus/Canpass/Global Entry cards, national ID card, and certain U.S. IDs (e.g., U.S. permanent resident card, U.S. driver’s licence).

To apply for the StartRight™ Program, you need a work permit and one additional piece of Canadian government-issued photo ID, like your driver’s license.

Benefits offered by this bank

• Low transfer fees
• Simple digital workflow: transfers can be done via mobile app or online banking.
• Free credit score

If you join the Join the StartRight™ Program designed for newcomers to Canada, you get:

• No monthly account fees on the Preferred Package chequing account for one year.² Value of $203.40.
• Free unlimited international money transfers.

CIBC

Origin

CIBC (Canadian Imperial Bank of Commerce) is a major Canadian bank with physical locations nationwide. It was founded on June 1, 1961, through the merger of The Canadian Bank of Commerce (founded in 1867) and the Imperial Bank of Canada (founded in 1875). As of 2026, the merged entity has been operating for over 64 years. The bank provides services specifically for foreign workers.

Countries where this bank operates (and potential restrictions)

You can send money to 130+ countries including India, the Philippines, China, the US, UK, Mexico, Jamaica, Pakistan, and Australia.

The bank accepts applicant documents from 195 countries which covers most of the Americas, Europe, Asia, and Africa. 

Operation restrictions

• You can send money via CIBC Global Money Transfer™. CIBC foreign exchange rates apply. A CIBC Global Money Transfer and a Foreign Exchange transaction counts towards your allowable transaction limit. Bank account transaction fees may apply. 
• Most transfers are completed within 1 to 3 business days.

Online-only vs physical card

As a traditional bank, CIBC provides a standard physical debit card. It also supports mobile wallets including Apple Pay, Google Pay, and Samsung Pay.

Requirements to open a bank account

You must live in Canada and be a Canadian citizen or permanent resident or foreign worker. You can apply online with your passport. You may have to verify your identity digitally with a government-issued ID.

Benefits offered by this bank

• No transfer fee to 120+ countries (via CIBC Global Money Transfer™).
• Newcomer/foreign worker package framing: The CIBC Smart™ Account for Foreign Workers with $0 monthly fee for 2 years and “earn up to $600” (conditions apply).
• 24/7 phone access
• Earn 3% cash back on eligible gas, electric vehicle charging and grocery purchases.

TD

Origin

TD is one of Canada’s largest traditional banks. It originated on February 1, 1955, as a merger of two long-standing Canadian financial institutions: The Bank of Toronto (founded 1855) and The Dominion Bank (founded 1869). Known formally as The Toronto-Dominion Bank. It offers services to international students including the TD International Student GIC Program.

Countries where this bank operates (and potential restrictions)

You can send money to over 200 countries and territories with TD Global Transfer^TM. This includes the US, UK, China, and Mexico.

Applicants arriving from almost any country can open an account. Individuals planning to move to Canada can open accounts before arrival, particularly from India and China.

Operation restrictions

• Standard international bank transfers take 1-5 business days. 
• You can send multiple wires for the initial GIC purchase of $22,895 and as many wires as you want up until the time of your arrival in Canada.

Online-only vs physical card

As a traditional bank, TD provides a standard physical debit card. It also supports mobile wallets including Apple Pay and Google Pay.

Requirements to open a bank account

You can apply online and must be an individual who is planning on studying at a post-secondary designated learning institution in Canada. You need a valid foreign passport, a proof of enrolment from a post-secondary designated Canadian learning institution (or a student ID card) and study permit. 

For students studying in the Province of Quebec, a Quebec Acceptance Certificate (CAQ) is also required in addition to the documents noted above.

Benefits offered by this bank

• No application fee and no monthly fees.
• Value of up to $690 in welcome bonuses, savings and benefits.

• 24/7 phone access
• Unlimited wire payments (after the initial GIC purchase of $22,895).

BMO

Origin

BMO (Bank of Montreal) is a long-standing traditional bank with physical locations across Canada. It was founded on June 23, 1817, as the Montreal Bank by nine merchants – making it Canada’s oldest bank. The newcomer program – BMO NewStart® – is designed for personal customers setting up life in Canada while still needing international functionality.

Countries where this bank operates (and potential restrictions)

Transfer funds to nearly 70 destinations in multiple currencies, with no fee under the BMO NewStart^® Program. (This includes the US, UK, China, and select markets in Europe.)

Wire transfers are accepted almost anywhere in the world and can be sent quickly and securely from any BMO branch. Western Union^® money transfer is another secure way to send money within Canada and abroad to more than 200 countries and territories.

The pre-arrival program focuses on applicants from China, India, Philippines, Pakistan, Colombia, Peru, Senegal, Antigua and Barbuda, Costa Rica, and Morocco.

Operation restrictions

If you have not yet arrived in Canada and are applying to open a BMO account, there is no minimum amount of money required for you to open the pre-arrival account.

If you are opening a student Guaranteed Investment Certificate (GIC) in addition to a bank account, you will need to transfer a minimum amount of $23,050 CAD into your new bank account. This will cover the cost of the GIC ($22,895 CAD), plus all applicable fees.

• Transaction fees apply to your BMO debit card.
• In most instances, transactions are completed within 2-5 business days. You’ll pay a $5 flat fee per transaction.

Online-only vs physical card

As a traditional bank, BMO provides a standard physical debit card. It also supports mobile wallets including Apple Pay, Google Pay, and Samsung Pay.

Requirements to open a bank account

You can apply online.

If you have arrived in Canada as a newcomer, you can apply online with your Social Insurance Number (SIN), and a Canadian address. If you don’t have a SIN or a Canadian address, you can book an appointment at your nearest BMO branch.

Benefits offered by this bank

• For foreign workers in Canada: No monthly plan fees for 2 years. Earn up to a $700 cash bonus, and a Walmart Delivery Pass Subscription for up to 12 months.
• For international students in Canada: Get up to $900 in value. This includes a $175 cash bonus when you open a new BMO Student Chequing Account. No monthly plan fee banking as a student and for the first year after you graduate.

RBC

Origin

RBC (Royal Bank of Canada) is Canada’s largest bank by market capitalization and a major global financial institution, founded in 1864 in Halifax, as the Merchants Bank of Halifax. It re-branded to RBC in 1901. It offers international banking and money transfer services.

Operation restrictions

• It operates primarily in Canada, the US, and Caribbean. 
• You send up to $50,000 per day to almost any country in the world, including the US, Europe, India, China, and the Philippines. 
• Most payments are received within 2 business days.

Applicants can open an account from almost any country.

Online-only vs physical card
As a traditional bank, RBC provides RBC both physical and digital (virtual) card options, with a focus on integrating them into the RBC Mobile app. Users can activate a virtual Visa Debit card. Both physical and virtual cards can be added to digital wallets including Apple Pay or Google Pay.

Requirements to open a bank account

You can apply online. You will need one of the following government-issued ID types:

• Canadian or US driver’s licence
• Canadian or foreign passport

Benefits offered by this bank

• Send money with no transfer fees and competitive exchange rates.
•  The RBC Digital Banking Security Guarantee ensures your money is safeguarded with 2-step verification.
• Pay no monthly fee with Advantage Banking. Use your account to earn Avion Rewards.
• Service is available by phone or in branches in up to 200 languages.

Some questions to ask yourself before you pick your international bank in Canada

1. How often will you send international transfers?

If frequent, offers $0 transfer fees and most payments are received within 2 business days.

2. Do you need in-branch support, or are you comfortable going fully digital most of the time?

BMO emphasizes branch-based support for wires. CIBC allows you to apply online with your passport and your identity can be verified digitally.

3. Are you a newcomer/foreign worker/student who benefits from a dedicated program?

There’s the CIBC Smart™ Account for Foreign Workers, the TD International Student GIC Program, and the BMO NewStart® program.

4. Are you likely to send larger amounts to cover tuition and/or relocation?

RBC allows you to send up to $50,000 per day.

Banking apps often trigger extra security checks when you arrive in a new country. A stable data connection can make it easier. Consider a dedicated travel data option so you can keep reliable connectivity between Canada and your home country.

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Letara Draghia

English Copywriter

I've been a copywriter for over a decade, working mostly in the retail industry. I've managed copywriting teams and contributed to major campaigns for F&F at Tesco, TK Maxx, and Dreams. I also work part-time as a news writer. Outside of work, I love to cook, and a fun fact about me is that I have a phobia of bananas—it's the smell!

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