Navigation skipped

Banking offers for Indian newcomers moving to Canada

Moving countries is a big step. B M O can make it easier and help you:

  • Open a chequing account online in minutes1
  • Get an international student G I C
  • Transfer up to $75,000 C A D before you arrive in Canada
open an account

New beginnings made simpler with B M O

Wherever you are in your journey to Canada, we've got the banking products you need.

Set up your bank account before you arrive in Canada

Two bank products, one easy application

Apply for a bank account and a student G I C in a single application. Get your account details within minutes.1

Limited time offer: Get a $125 cash bonus* and 6 months of Domino’s Pizza®* with a new B M O Student Chequing Account upon arrival to Canada.

The option to fund your account from India

Wire up to $75,000 CAD so you can access your money when you arrive.

Enjoy worry-free banking while you get settled in Canada

  • Pay no monthly Plan fees while in school and for up to one year after graduating4

  • Get unlimited transactions5, including unlimited INTERAC e-Transfer® transactions6

  • Build your credit history with our Student B M O CashBack® Mastercard®*

  • Transfer funds quickly and securely with no fee3 with B M O Global Money Transfer

  • Get support at more than 850 branches and over 3,250 A T Ms across Canada

Set up your bank account before you arrive in Canada

Instant processing of eligible applications

Apply for a bank account with our award-winning B M O NewStart® Program10. Get your account details within minutes1.

The option to fund your account from India

Wire up to $75,000 CAD so you can access your money when you arrive.

Enjoy worry-free banking while you get settled in Canada

  • Pay no monthly Plan fees7 and get unlimited transactions5 for a year

  • Enjoy a great mortgage rate, plus our 130-day mortgage rate guarantee8

  • Get a credit card with no annual fees2 and start building your credit history

  • Transfer funds quickly and securely with no fee3 with B M O Global Money Transfer

  • Get support at more than 850 branches and over 3,250 A T Ms across Canada

What you can do with our app

Once you arrive, you can set up our award-winning mobile banking app and:

  • Pay your monthly bills
  • Lock and unlock your debit card
  • Set savings goals
  • Send money to loved ones
  • Manage your spending and more
more details

Resources to help you with a smoother transition

    FAQs

    • A chequing account is a bank account that's used for day-to-day transactions in Canada. In India, this is known as a current account or checking account.

    • A Guaranteed Investment Certificate (G I C) is a secure investment that protects your principal. In India, it’s known as a fixed deposit. A G I C can be used as proof of financial support to facilitate a study permit application.

    • At B M O, you can open a bank account in Canada from India online through our online application portal. Permanent residents, foreign workers and international students from India can open a B M O chequing account online within minutes1 and send up to $75,000 CAD before arrival.

    • If you have not yet arrived in Canada and you are applying to open a B M O account, there is no minimum amount of money required for you to open a pre-arrival account. However, you have the option of transferring up to $75,000 CAD into your B M O pre-arrival account to help you get started in Canada. When you get to Canada, just visit a B M O branch to activate your account.

      If you are also opening a student Guaranteed Investment Certificate (G I C), you will need to transfer a minimum amount of $20,785 CAD9 into your new bank account. This will cover the cost of the G I C plus all applicable B M O fees. Learn more about international student GICs. Permanent residents, foreign workers and international students from India can open a B M O chequing account online within minutes1 and send up to $75,000 CAD before arrival.

    • The B M O NewStart® Program offers banking products and services for permanent residents and foreign workers for their first five years in Canada. This program is designed to help make setting up your new life in Canada a little easier. Learn how the BMO NewStart® Program can help you.

    Want to learn more?

    • Send us an email

      We'd be happy to answer your questions over email.

      email us
    • Visit us in person

      Our multi-lingual staff will make you feel at home here in Canada.

      Find a branch