Newcomers to Canada
Welcome to Canada. We’re here to help.
Meridian offers newcomers the full range of banking services and guidance to get started. It’s easy to set up an account for your everyday banking, make bill payments, or send money to loved ones back home.
We can also help you establish a credit rating in Canada, save for your children’s education, invest for your future, and more.
What is the Newcomer to Canada program?
This program adds more than $3,000 in savings over three years. Explore the perks of becoming a Meridian Member!
Free banking for 3 years
Get unlimited chequing for up to 36 months.(1)
A no-fee Credit Card
Pay no annual fee on a Meridian Visa* Card for 36 months.(2)
Free wire transfers
Send funds home with a free incoming and outgoing transfer every month.
Great interest rates
Enjoy preferred interest rates on a variety of products and services.
Cheques and a safety deposit box
Get free cheques and no-fee safety deposit box for up to 36 months.
Mortgage rebates
Earn a $500 rebate on new or transferred mortgages to Meridian.(3)
New Credit Card opportunity for newcomers
Meridian’s unsecured credit card is now available for Permanent and Non-Permanent Residents!
As Ontario’s largest credit union, we’re committed to providing exceptional banking services and advice. Unlike many larger financial institutions, we don’t have public shareholders. As a Member, you are an owner. Our profits go towards improving our products and services, and innovating new ways to enhance our Members' lives.
Build your financial confidence. Live your best life, with Meridian.
How to open a bank account in Canada
To open a new account with Meridian, visit one of our branches. Please bring a document that proves you moved to Canada within the last five years, such as:
You will also need to bring:
- Government photo ID, like a driver’s license, Ontario photo card (or photo card from another province or territory), nexus card, etc.
- Your Social Insurance Number (SIN). If you do not have a SIN you may still be able to open an account. One of our advisors will walk you through the process.
More reasons to bank with Meridian
Bank anywhere, anytime.
At Meridian, you can bank the way you want, on your schedule. As Ontario’s largest credit union, we offer a full range of digital, in-person, and over the phone banking services.
Build your business
Our business advisors have expertise across a range of industries. We can help you expand your business with confidence.
Grow your wealth
From RRSPs and Tax Free savings accounts to education savings, a Meridian Financial Planner can help you build a plan to get you where you want to be.
If you’re a current or former beneficiary in Meridian’s Newcomers to Canada program, now you can help friends and family experience the benefits as well. Tell others about Meridian’s great rates and exceptional service and together we can help to welcome more newcomers!
Yes. With over 365,000 Members and over 90 branches, Meridian is well established across Ontario.
Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA).
Yes, you can bank anywhere, anytime with Meridian. We offer a full range of digital, in-person, and over the phone banking services.
Yes, newcomers can apply for a Meridian credit card – even if they have no credit history. Visit a branch or call our Contact Centre to talk about eligibility requirements and find the right card for your spending needs.
Both credit unions and banks in Canada offer similar products and services, including savings and chequing accounts, credit cards, loans, mortgages, investment products, and access to online and telephone banking.
As a credit union, we don’t have public shareholders — our Members are our owners. That means more of our profits are used to help support the communities of the Members we serve.
Investing in communities is a foundational part of our identity. We believe that by using our financial expertise in combination with community-focused partnerships, we can effect meaningful change and help communities build financial resilience.