// Ch · NEWCOMERS
Chequing accounts for newcomers to Canada
We compare 3 chequing accounts for newcomers to Canada from 2 Canadian issuers. Annual fees range from $0 to $216. Sorted lowest annual fee first.
Updated October 2026
Chequing accounts for newcomers to Canada compared
Newcomer accounts help you set up banking soon after you arrive, often with a fee waiver for the first year and fewer documents required. Check how long the waiver lasts.
| ACCOUNT | PER YEAR | PER MONTH |
|---|---|---|
| CIBC Smart Account for Foreign WorkersCIBC | $0 | $0 |
| CIBC Smart Account for NewcomersCIBC | $0 | $0 |
| BMO Performance Chequing Account for NewcomersBMO | $216 | $18.00 |
Questions
How many chequing accounts for newcomers to Canada does CreditLab compare?
We compare 3 chequing accounts in this category from 2 issuers, with fees from $0 to $216 a year. Each one links to a full breakdown of its fees, rates and features.
Are there newcomers options with no annual fee?
Yes. 2 of them have no annual fee, including the CIBC Smart Account for Foreign Workers, CIBC Smart Account for Newcomers.
More chequing accounts by category
Fees and rates come from each issuer’s published terms. Always confirm with the issuer before applying. See our methodology.