If you're a newcomer to Canada, the Scotiabank Startright® program can help get your Canadian finances set up, including understanding banking in Canada, setting up accounts, building your credit, and more. Both newcomers to Canada as well as international students studying in Canada can access it, with products designed with each of those groups in mind.
The Startright™ program offers newcomer perks for banking accounts, credit cards, and can also assist with access to increased credit limits in partnership with Nova Credit, which may be able to take your past credit history in another country into consideration. This can help you build your credit in Canada faster, while giving you a premium bank account and other products to help you deposit and manage your money.
Key Takeaways
- The Startright™ Program is a program to help newcomers and international students set up bank accounts and credit cards.
- The Startright™ Program costs nothing for new members to use.
- To set up any accounts, you'll have to visit a branch.
Who is eligible for Scotiabank's StartRight™ Program
To be eligible for the Scotiabank StartRight® program, you have to fit into one of these 3 categories:
- Canadian permanent residents in Canada for less than 5 years
- Foreign workers in Canada
- International student studying in Canada
You'll need to contact your Scotiabank branch to be sure you qualify for the Startright™ Program.
The products and services you can receive vary, depending on which category you fall into, but if you do qualify, then you should take advantage of the education and services that this program offers.
Documentation needed to open an account with Scotiabank's Startright™ program
If you're eligible for the Scotiabank StartRight® program, there are a few different types of documentation to open accounts, depending on which category you belong to.
Permanent residents: documentation required
If you're a permanent resident in Canada for less than 5 years, you'll need the following documentation:
- Your Canadian permanent resident card, or your Confirmation of Permanent Residence (COPR document)
- One piece of photo ID issued in Canada, such as a driver's license or passport
Temporary workers: documentation required
If you're a temporary worker in Canada, you'll need to have the following documentation to apply:
For a temporary worker, this is what you need:
- Your Canadian work permit
- One piece of photo ID issued in Canada, such as a driver's license or passport
International students: documentation required
If you're an international student studying in Canada, here's what you'll need to participate in the program:
- Your Temporary Resident Visa (TRV) or your Canadian Study Permit (IMM 1442)
- One piece of photo ID issued in Canada, such as a driver's license or passport
- Proof from your Canadian educational institution that you are enrolled as a student, such as a course timetable or a student ID card
Having these documents ready for your application under the Scotiabank StartRight® program will make the process much easier.
What the Startright™ program offers for banking products
Every country around the world has its own quirks when it comes to banking systems, and Canada is no exception! There are a few key areas where the Scotiabank StartRight® program can help make it easier for you to get your finances set up.
Chequing accounts
Chequing accounts in Canada are generally quite easy to open. Even so, Scotiabank has a few features under Scotiabank StartRight® to get you banking faster, and even save you some money.
Depending on the country you're coming from, you may be able to open up a Scotiabank International Account before you move to Canada, which lets you make 1 wire transfer of up to $50,000 CAD to an investment account in Canada. This lets you establish proof of funds for your upcoming move. When you arrive in Canada, and meet with an advisor at your Scotiabank branch to open a chequing account, you'll be able to move some or all of your funds into that new chequing account.
A Scotiabank International Account is available for new Canadians moving from these countries:
| Brazil | Philippines |
| Mexico | Vietnam |
| UAE | France |
| Chile | Saudi Arabia |
| Pakistan | Senegal |
| UK | Germany |
| China | Spain |
| Peru | Morocco |
| Venezuela | India |
| Colombia |
If you're a permanent resident or a foreign worker, the Scotiabank StartRight® can set you up with the Scotiabank Preferred Package and you won't have to pay any monthly fees on this account for 1 year.
If you're an international student attending school in Canada, you can get access to the Scotiabank Preferred Package for Students and Youth under the program, which includes most of the same benefits as the Scotiabank Preferred Package but never has a monthly fee as long as you are a student.
Scotiabank credit cards
Credit cards, with responsible use, are one of the easiest ways to build your credit score. When you make purchases such as groceries or gas with your credit card, make sure to pay your bill on time, and the bank will share those good habits with the credit bureaus, which can help keep your credit rating in good standing.
The Scotiabank StartRight® program can grant you credit based on your verifiable income (and any credit history you may have in Canada), with a maximum possible credit limit of $15,000. And you won't need to provide a security deposit to open an account under the program.
International credit history
If you're moving to Canada from select countries, Scotiabank can look up your credit history in conjunction with Nova Credit, which may be able to use your credit history in other countries to grant you a higher credit limit. These countries include:
- Australia
- Austria
- Dominican Republic
- India
- Kenya
- Mexico
- Nigeria
- Philippines
- South Africa
- South Korea
- Spain
- Switzerland
- United Kingdom
- United States
- Ukraine
Additionally, all Scotiabank credit cards are eligible for participation in the Scotiabank StartRight® program. You can find the right Scotiabank credit card for your needs on our companion site, creditcardGenius.ca.
Mortgages
If you've been a permanent resident for less than 5 years, Scotiabank StartRight® has a mortgage program that can help buy your first home in Canada.
Scotiabank offers a wide range of mortgage products, where you can choose from a variety of fixed rate terms, or go with a variable rate mortgage. Your advisor at Scotiabank will be able to talk through all of the mortgage options available to you.
Scotia International Money Transfer
Need to send money overseas? With Scotiabank StartRight®, you'll pay $0 to transfer money from your Scotiabank account to another account in another country. Usually, this service would cost $1.99 per transfer, but under this program it won't cost you anything.
What the Scotiabank StartRight® program costs
Good news: the Startright™ program doesn't cost you anything to use. It's simply a program Scotiabank has created to help newcomers to Canada and international students in Canada get their banking situation in order once they arrive in Canada.
The only account you can open before arriving in Canada is the Scotiabank International Account. However, once you arrive in Canada, you can make an appointment at a Scotiabank branch to open up all of your accounts with the various benefits that you get under the Scotiabank StartRight® program.
Terms
Scotiabank StartRight® Program is available only for Canadian Permanent Residents from 0-5 years in Canada, International Students and Foreign Workers.
™ Trademark of The Bank of Nova Scotia.
® Registered trademarks of The Bank of Nova Scotia.
The 1-Year No Monthly Account Fee Offer (the "Offer") is available to eligible clients who open a new Preferred Package account under the StartRight™ Program (the “Account”). Employees of The Bank of Nova Scotia (“Scotiabank”) and individuals who are currently or were previously holders/ joint holders of a Scotiabank chequing account within the last 2 years are not eligible for this Offer. If you are eligible for the Offer, during the first 12 months, your monthly Account fee will be waived and will not appear as a charge on your Account. The Account must be open and in good standing at the time of the waiver. All applicable service charges on the Account will continue to be applied monthly. After the first 12 months, you will begin to see the monthly Account fee charged to your Account unless you maintain a minimum daily closing balance of $4,000, in which case the monthly Account fee will be waived per the Account terms and conditions. This Offer is non-transferable and cannot be combined with any other offers. Maximum one Offer per customer. All rates, fees, features and benefits are subject to change. Offer may be changed, cancelled, or extended at any time without notice.
FAQ
What is the Scotiabank StartRight® program?
Scotiabank StartRight® can help you, as a newcomer or international student in Canada, open up banking accounts and credit cards at Scotiabank, help you with access to other financial products, and may also save you money on banking fees.
What products can I get under Scotiabank StartRight®?
The Scotiabank StartRight® program offers help to newcomers like you with applying for bank accounts, credit cards, mortgages, auto loans, as well as free international money transfers.
Does Scotiabank StartRight® cost anything?
The Scotiabank StartRight® program doesn't cost anything to use. Many individual products have their fees waived for the first year under this program, but you will have to visit an advisor at your Scotiabank branch to ask about accounts and have them opened.
Who is eligible for Scotiabank StartRight®?
If you are either a permanent resident of Canada for less than 5 years, are a foreign worker in Canada, or are an international student studying in Canada, you may be eligible for the Scotiabank StartRight® program.
Can I open bank accounts under Scotiabank StartRight® before arriving in Canada?
The only account you can open before arriving in Canada under the Scotiabank StartRight® is the Scotiabank International Account, which you can transfer money into before you arrive. You can apply for other Scotiabank products once you arrive in Canada.
Can I get a credit card without Canadian credit history with Scotiabank StartRight®?
You may be able to get a credit card through Scotiabank StartRight®, depending on your income as well as any other Canadian credit history that you might have. You also might be eligible for a credit limit of up to $15,000 with an unsecured credit card.
Where can I send money with no service fees under Scotiabank StartRight®?
At the moment, the Scotia International Money Transfer under Scotiabank StartRight® will allow you to send money with $0 transfer fees to the United States, India, Philippines, Greece, Portugal, Ireland, Spain, Netherlands, Cyprus, France, Germany, Italy, Belgium, Austria, United Kingdom, Mexico, Australia, Dominican Republic, Jamaica and China.
How much can I transfer under Scotiabank StartRight® before arriving in Canada?
When you open up a Scotiabank International Account, you can transfer up to $50,000 under the Scotiabank StartRight® program.
Can I get a mortgage through Scotiabank StartRight®?
Yes, the Scotiabank StartRight® program can offer you assistance with a mortgage for purchasing a home in Canada. See your Scotiabank advisor in your local bank branch for more details.
Can I get auto financing through Scotiabank StartRight®?
Yes, the Scotiabank StartRight® program can offer you assistance with a car loan in Canada. See your Scotiabank advisor in your local bank branch for more details.
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