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
Scotiabank
Scotiabank StartRight
StartRight is Scotiabank's program for permanent residents in their first five years, foreign workers, and international students. The core banking perk is a one-year waiver of the Preferred Package monthly fee.
- Last checked
- October 19, 2026
- Source
- Scotiabank StartRight newcomer offer
- Audience
- Permanent residents, Temporary workers, International students
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What we could verify
- No monthly fee of $16.95 on the Preferred Package chequing account for the first year.
- Unlimited no-fee international money transfers are listed as a StartRight benefit.
- Scotiabank says a credit card under StartRight can go up to a $15,000 limit and does not require Canadian credit history. Approval is still required.
- The bank's page adds the offers up to $2,300 in first-year value, including up to $580 from the program itself. That is Scotiabank's math, and it depends on which products you take.
StartRight is the wrapper around the account, the transfers, and the credit card. The fee waiver Scotiabank states in plain numbers is $16.95 a month on the Preferred Package, which they also describe as $203.40 over the year. There is no minimum balance required to open, and the newcomer waiver means you do not need the usual minimum balance to avoid the fee during that first year.
Permanent residents need a PR card or confirmation of permanent residence plus a passport or Canadian government photo ID. Foreign workers need a work permit and photo ID, and a letter from a Canadian employer confirming income if they also want a credit card. Students are pointed to a separate student path on the same site.
Who it is for
Scotiabank says StartRight is for permanent residents who have been in Canada from zero to five years, international students, and foreign workers. A credit card still needs you to be a resident and the age of majority, and the limit is subject to Scotiabank's credit criteria.
How to act on it
The StartRight pages say you can visit a branch, book an advisor, or apply online, and that you register as a newcomer with the required documents.
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