Best Banks for Expats in Toronto 2026: RBC, TD, Scotiabank & Wise

Canada's banking system is one of the world's most stable, with the Big Five banks — RBC, TD, Scotiabank, BMO, and CIBC — all offering newcomer banking packages with reduced or waived fees. Digital options like Simplii Financial and EQ Bank offer excellent rates. This guide covers the best accounts for new arrivals in Toronto and how to build Canadian credit.