Welcome to Canada: Preparing your finances and getting financial assistance

Big cities like Toronto and Vancouver are the most expensive places to live, especially when it comes to housing. Food, heating, clothing, transportation, and cellphone and Internet plans, in addition to rent, can take up to half your take-home pay. Keep these expenses in mind when deciding where you want to live.

Learn more about

• the cost of living, common expenses and taxes
• finding a place to live in Canada

Open a bank account and apply for financial assistance

One of the first things you should do when you arrive in Canada is open a Canadian bank account. This will let you get paid for work in Canada, and also let you apply for financial assistance.

To open a bank account, you’ll need both of the following:

•   your temporary resident status document [IMM 1442]
  • This is your
    • visitor record
    • work permit
    • study permit
    • temporary resident permit
•   your passport

There are many different banks in Canada. If you want to save money, look for one that offers chequing and savings accounts for free. Some banks even let you apply online. However, you can always call or go in person too.

Learn more about

• how to open a bank account
• banking in Canada
• the way money works in Canada

Applying for financial assistance

We’re giving financial assistance to help Ukrainian families who are in Canada under the Canada-Ukraine authorization for emergency travel (CUAET) program.

The assistance is a one-time, non-taxable benefit. It’s to help you take care of your basic needs while you get settled in Canada. You need to open a Canadian bank account to apply. Read the full details for what you need to apply and how.

Learn how to apply for financial assistance.