Bank & Finances

Starting your financial journey in Canada begins with setting up a bank account, managing finances, and understanding local banking services. The following information helps you navigate banking in Newfoundland and Labrador, covering account setup, types of financial institutions, essential services for newcomers, and money transfer options. 

For Memorial University (MUN) students, the Internationalization Office provides guidance to help streamline the account setup process. 

Your bank account will allow you to receive and deposit funds, pay bills, make online purchases, and build a financial history in Canada—essential for applying for loans or credit products in the future.