Which Canadian Bank Is Best for Me? Newcomer Quiz

Key takeaways

The quiz checks each bank’s newcomer eligibility window for your status
It weighs branch versus online, fee-free months, cash bonuses and starter credit cards
Results show each offer’s end date: several end in late October or early November 2026
No bank pays for placement in the results

How the quiz ranks banks

The quiz compares nine banks: RBC, TD, Scotiabank, BMO, CIBC, National Bank, Simplii, Tangerine and EQ Bank (Neo is covered on our secured cards page). For each, it:

Checks eligibility. Big-bank newcomer offers have time limits. If you are outside a bank’s window, that bank drops to the bottom.
Checks pre-arrival options if you have not arrived yet, using each bank’s list of countries.
Adds points for what you said matters: a branch, a long fee-free period if you cannot keep $4,000, a fee waiver with a $4,000 balance if you can, a starter credit card, and no-fee international transfers.
Adds a small boost for cash bonuses of $500 or more.

The top three are shown with a short reason and the offer’s end date.

The eligibility rules the quiz uses

Bank	Who qualifies for the newcomer offer	Pre-arrival	Offer end
RBC	PR and students: arrived within 12 months. Workers: within 48 months	Online from 9 countries incl. India, China, Philippines, Vietnam, Hong Kong	Card: apply by Oct 31, 2026
TD	PR or temporary residents, 5 years or less; students included	Phone, China and India	Nov 2, 2026
Scotiabank	PR 5 years or less, foreign workers, international students	Not shown	Chequing bonus: Oct 29, 2026
BMO	PR or foreign workers, arrived within 5 years	Online, qualifying countries	No end date shown
CIBC	PR 5 years or less; workers with 12-month+ permit; students (separate offer)	Smart Arrival, eligible countries	No end date shown
National Bank	In Canada less than 5 years	Up to 90 days before arrival	Nov 3, 2026
Simplii, Tangerine, EQ Bank	No newcomer window: open to anyone they can verify	No	Promos change; Simplii $350 to Jan 1, 2027

Checked October 5, 2026. The quiz treats “4 to 5 years” as outside RBC’s 48-month window for workers.

Example result

Li is a permanent resident who arrived 6 months ago, prefers a branch, cannot keep $4,000 in chequing yet, wants a credit card and sends money to family. The quiz ranks BMO and CIBC first and second (24 months with no fee, a starter card, no-fee transfers) and TD third. If Li could keep $4,000 every day, TD and Scotiabank would move up, because their plans stay free with that balance after year one.

After the quiz

Read the details in best bank accounts for newcomers and the Big 5 side-by-side.
Check the end date in the offers tracker before you book an appointment.
Ask the bank for the bonus conditions in writing.
A $0 transfer fee does not mean the cheapest transfer. Compare the exchange rate too; see sending money home.

How we handle offers. Offers on this page come from each bank’s own website and were last checked on October 5, 2026. Banks change offers often, so confirm the details on the bank’s site before you apply. No bank pays to be included or ranked here. If a link on this page ever earns us a commission, we will label it next to the link.

Common questions

Is this quiz sponsored by a bank?

No. The scoring uses each bank’s published rules. No bank pays to appear or to rank higher.

Why did a bank I like not show up?

You may be outside its newcomer window. For example, RBC’s package is for permanent residents who arrived in the last 12 months.

Can I open accounts at more than one of the matches?

Yes. Many newcomers combine a big bank for the card and branch with an online bank for savings.

How often is the quiz updated?

We review the rules at least monthly and when an offer ends. The date the rules were checked is shown under the results.

Sources

Checked against these sources on October 5, 2026. Spotted something out of date? Tell us.

Newcomer bank picker quiz

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