Canadian Banking System

You are here, now it is time to organize your money and open a Canadian bank account. 

Choose a Bank

There are many banks in Canada, and they can all be found here in Regina. The first step is to choose a bank that suits your needs. 

Open a Bank Account

This is an important step in your transition to Regina as a new student at the U of R. It is a good idea to open a bank account as soon as you can.

Exchange Your Currency

If you need to exchange currency, you can do so at the airport and most banks in Regina. Credit cards such as American Express, MasterCard and VISA are also accepted. You can also exchange Traveller’s Cheques, but there is a fee for cheque transactions.

Transfer Your Money

You can receive wire transfers of money from another bank to your Canadian bank account. You will need a bank draft stating how much you are transferring and bring it with you to Canada. Make sure you know how long it will take to transfer money and how much it will cost.

Understand Canadian Currency

Once you are in Canada, you will be using the Canadian dollar (CAN$). Canadian coins are available in:

5 cents - nickel
10 cents - dime
25 cents - quarter
$1 - loonie
$2 - toonie

Canadian bills are available in:

$5, $10, $20, $50, $100

In Canada, it is common to use your bank card at automated teller machines (ATM), which are available in many locations. You can take out money, pay for something, or deposit your money with your bank card. There are many ATM's on campus here at the U of R!