‘Start Right’ with Scotiabank: Preparing for life in Canada

The website is rich with content, including blog posts, practical lists and links to helpful resources, making it a one-stop destination for those planning or preparing to settle in Canada. (Supplied)

TORONTO – AUGUST 27, 2018 – Scotiabank has launched a new website for the StartRight® Program, which offers practical, useful information to make it easier and simpler for newcomers and international students to live and bank in Canada. The website is rich with content, including blog posts, practical lists and links to helpful resources, making it a one-stop destination for those planning or preparing to settle in Canada.

Life in Canada

During the first few months of living in Canada, there will be many tasks that need to be tended to:

• You will need to setup a bank account to make every day purchases and eventually pay bills.

• Whether you decide to rent or buy, you will need to look for housing in order to create a new home.

• You will also need to build a new community. This involves learning what your neighborhood has to offer and expanding your network.

Through Scotiabank’s StartRight® Program, advisors can help you accomplish these fundamentals by giving advice and directing you to the best resources available.

“Moving to a new country and adapting to a new culture can be daunting without the right support,” said Munsif Sheraly, Director of Multicultural Banking at Scotiabank. “With the Scotiabank StartRight® Program, we want to welcome new Canadians with information that will make their life easier even before they arrive. Our multilingual advisors are committed to helping newcomers make Canada feel like home as quickly, and easily, as possible.

”

Scotiabank’s StartRight® Program outlines practical information such as how to acquire a SIN card, the importance of having credentials assessed, where to apply for jobs, and more. It also provides information on Scotiabank’s special banking solutions for newcomers and eligible credit cards.

Credit in Canada

Banking systems differ by country, so there is value in conducting research to understand the Canadian banking system. Scotiabank’s StartRight® Program starts from the basics and provides insights on why a Canadian credit profile is helpful, how to help you build a positive credit score and tips to maintain a healthy financial life in Canada. It also shares checklists to help stay on track and help you stay within budget.

Building and maintaining a positive credit history is important in Canada; it is one of the ways that indicates how reliable you are to money lenders, such as financial institutions.

If you appear to be unreliable, it may be difficult to secure rental properties, loans or utility accounts. Many banks also require you to have a credit history before approving you for a credit card, which could put you at a disadvantage when you want credit.

Scotiabank’s StartRight® Program, however, can help you build your credit in Canada, as it offers you the chance to get approved for your first credit card without having a credit history beforehand.

Starting a new life in Canada can be complicated, and newcomers may have many questions along the way. To learn more about the resources available to set you up for success, visit www.scotiabank.com/startright.

About Scotiabank

Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, Europe and Asia-Pacific. We are dedicated to helping our 24 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 89,000 employees and assets of over $926 billion (as at April 30, 2018), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visitwww.scotiabank.com and follow us on Twitter @Scotiabank.