FX, Money Transfers & Banking in Canada

Sending money from Canada to Nigeria

These are platforms commonly used by Nigerians in Canada to send money home. This is not an endorsement of any of them. Fees, rates, and availability change regularly.

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  Wise

  International money transfer service available in Canada. Visit wise.com for current rates and fees.

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  LemFi (formerly Lemonade Finance)

  Transfer platform built for African diaspora. Visit lemfi.com for current rates and fees.

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  Remitly

  International remittance platform with multiple speed options. Visit remitly.com for current rates and fees.

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  Western Union

  Widely available in both Canada and Nigeria. Visit westernunion.com for current rates and fees.

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  Grey

  Multi-currency account popular with Nigerians abroad. Visit grey.co for current rates and fees.

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  Your Canadian bank

  All major Canadian banks offer international wire transfers. Check with your bank directly for their current rates and fees.

LandEasy does not endorse, rank, or have a commercial relationship with any of the services listed above. This list is for informational purposes only. Always verify current rates and terms directly with the provider before transferring money.

Bank accounts for newcomers in Canada

These are the major Canadian banks that offer newcomer banking programs. Most allow you to open an account with just your passport and proof of immigration status, with no Canadian credit history required. Visit each bank's website or a local branch for current offers and eligibility.

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  RBC (Royal Bank of Canada)

  Offers a newcomer banking program. Visit rbc.com or any RBC branch.

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  TD Canada Trust

  Offers a newcomer banking package. Visit td.com or any TD branch.

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  Scotiabank

  Offers the StartRight program for newcomers. Visit scotiabank.com or any Scotiabank branch.

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  BMO (Bank of Montreal)

  Offers a newcomer banking program. Visit bmo.com or any BMO branch.

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  CIBC

  Offers a newcomer banking package. Visit cibc.com or any CIBC branch.

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  Simplii Financial

  Online bank with no monthly fees. Visit simplii.com for details.

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  Tangerine

  Online bank with competitive features for newcomers. Visit tangerine.ca for details.

LandEasy does not endorse, rank, or have a commercial relationship with any of the banks listed above. Banking products change frequently. Speak directly with each institution for current offers and eligibility requirements.

TFSA and RRSP: savings accounts to know about

Once you are settled and earning in Canada, these two registered accounts are worth understanding. Both are offered by most Canadian banks and financial institutions.

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  TFSA (Tax-Free Savings Account)

  Any growth or interest earned inside a TFSA is tax-free. You can contribute up to a set limit each year and withdraw at any time without penalty. Ask your bank about opening one.

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  RRSP (Registered Retirement Savings Plan)

  Contributions reduce your taxable income for the year and the money grows tax-sheltered until retirement. Ask your bank or a financial advisor for details.