Eligible newcomers to Canada can open a BMO bank account and an International Student GIC before they arrive in Canada through the bank’s NewStart Pre-Arrival Account Opening program.
BMO
Bank of Montreal (BMO) has announced the expansion of its online NewStart Pre-Arrival Account Opening program to help new immigrants to Canada transition into their new lives.
The program now enables eligible applicants from 13 countries — Antigua and Barbuda, China, Colombia, Costa Rica, India, Morocco, Pakistan, Peru, Philippines, Senegal, Saint Vincent and the Grenadines, Trinidad and Tobago, and Vietnam — to open a bank account and an International Student GIC before they arrive in Canada, including residents of countries that are part of the Government of Canada’s Student Direct Stream accelerated student visa application process.
Per the news release, the newly enhanced and primarily automated pre-arrival account opening capability allows online applicants to have their BMO Pre-Arrival bank account applications processed instantly. When a pre-arrival bank account has been successfully opened online, customers are permitted one wire transfer from their home country, and they can visit a BMO branch in Canada to activate their account.
The NewStart Program allows applicants to apply for a chequing account and, if they are an international student, a Guaranteed Investment Certificate (GIC).
To qualify, applicants need to be at least 14 years old, a resident of a country eligible for the program, coming to Canada within 12 months on an appropriate visa, and opening an account for themselves, not a friend or family member.
To apply for a chequing account, applicants will need a valid passport and their Canadian visa, while those applying for a Student GIC and a chequing account will also need a letter of admission from their school as a PDF or JPEG.
If applicants are residents of China and do not meet these requirements, they can contact one of BMO’s China branches.
More Information is available here.