BMO
BMO NewStart
BMO NewStart is the bank's program for permanent residents and foreign workers in their first five years. The chequing offer is two years without the Performance Plan monthly fee.
Last checked October 19, 2026
RBC Royal Bank
RBC Newcomer Advantage
RBC waives the monthly fee on an Advantage Banking account for one year for newcomers who arrived in the last five years, and pairs it with a credit-card offer that does not require Canadian credit history.
- Last checked
- October 19, 2026
- Source
- RBC Royal Bank, banking offers for newcomers
- Audience
- Permanent residents, Temporary workers, International students
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What we could verify
- No monthly fee for one year on an RBC Advantage Banking account.
- Unlimited debit transactions in Canada, and no RBC fee to use another bank's ATM in Canada.
- RBC advertises a credit card limit up to $15,000 and up to 12% cash back for three months. Both are conditional offers.
- RBC's terms define a newcomer as someone who arrived in Canada within the last five years and can show proof of entry.
The public offer on RBC's newcomer hub is a package: one year without the monthly fee on Advantage Banking, plus a credit card for clients who do not yet have Canadian credit history. The cash-back rate and the credit limit are promotional and sit behind legal disclaimers on the same page, so treat them as headlines to confirm, not as guaranteed terms.
RBC's newcomer account terms say the monthly-fee waiver is one per eligible account owner, and that the standard monthly fee applies after the first year. Employees of RBC are excluded. The credit-card rules are narrower than the five-year banking definition: the no-credit-history card is described for permanent residents and international students who arrived within 12 months, and for temporary workers who arrived within 48 months.
Who it is for
For the fee waiver, RBC's terms say you arrived in Canada within the last five years and can show proof of entry, such as landing papers or a permanent resident card, and that you do not already have a personal banking account with them. Credit-card eligibility is separate and shorter. You must be the age of majority and meet RBC's credit criteria.
How to act on it
RBC's terms say the account is opened at a branch or through the RBC Advice Centre. Read the current offer on the newcomer hub before you book, because the cash-back promotion is time-limited.
Also in bank accounts
CIBC
CIBC Smart Account for Newcomers
CIBC's newcomer chequing account has no monthly fee for two years if you are 25 or older. A $500 cash reward and a Costco membership are extra offers with conditions and an end date you should read on the page.
Last checked October 19, 2026
Desjardins
Desjardins newcomer welcome offer
Desjardins offers eligible newcomers an everyday account on the Unlimited plan with no monthly plan fee, plus two years of legal phone assistance. The banking offer is built around caisses, which are concentrated in Quebec.
Last checked October 19, 2026