For most Canadians, their first experience with a bank account was opening one as a child. Your first bank account probably housed birthday money and earnings from summer jobs with a manual balance book that you’d stamp each time you deposited at your local branch.
If this sounds familiar and you’ve had the same bank account since you were a kid, you may no longer have the correct account for your needs.
The bank account you had as a child may have eventually converted to an adult account, meaning you may now be paying higher account fees, having limited transactions, or earning meager interest.
Or, if you’re new to Canada, you’ll need to figure out how you’ll be making spending transactions while you stay.
If any of the above applies to your banking situation, it’s time to open a new account that better suits your needs.