Top 5 Banks In Canada

in Dec 1, 2022

These five banks in Canada are the most banks that most Canadians depend on to make their financial transactions. And it is not easy to choose the bank where you want to keep your money in, because not all banks have the same features.

So when deciding on a bank, you have to put so many factors into consideration:

The fees.
Access ability.
The interest rates prices of the saving accounts.
The new members’ features.
Withdrawal protection of the account.

There are also other features that save time and money. Therefore, we are going to provide a complete guide to find the proper bank for you.

The best banks in Canada

In their financial transactions, the Canadians depend on banking transactions, that’s why the existence of banks is very essential in Canada.

Royal Bank of Canada (RBC)

Royal Bank is the biggest in Canada. And it was established in 1864, in Halifax-Nova Scotia.

It serves more than 16 million clients around the world. Additionally, the bank offers commercial and saving accounts as well as accounts for students and immigrants with multiple currencies.

The fees of the Canadian residents are between 4 to 30 dollars for the commercial accounts.

Royal Bank of Canada has more than 1300 branches around the world, and there are about 86 thousand employees working full time.

In addition, the bank contains about 50 thousand cashiers for clients to deposit and withdraw their funds.

Toronto-Dominion Bank (TD Bank)

Toronto-Dominion Bank is considered the second biggest bank in Canada with 25 million workers.

Social Insurance Number

The date of establishment is 1855 in Toronto.

In fact, this bank has more than 1100 branches in Canada and more than 25 thousand employees.

Also, the bank also has 2800 cashiers all around Canada. And basically, the monthly commercial accounts fees in Toronto Bank are between 3.95 dollars and 29.95 dollars.

Banks in Canada – Scotiabank

Scotiabank was established in Halifax in 1832. Then it was moved to Toronto in 1900 in order to improve commerce in the Atlantic Ocean.

More than 25 million clients around the world have accounts in this bank, in addition to the existence of 900 branches in Canada.

29 thousand employees work full time in this bank. And, there are more than an ATM networks in Scotiabank.

It offers many kinds of accounts like commercial, saving and students accounts. Also, 18 kinds of credit cards are offered in this bank, and some of them are without fees.

Bank of Montreal

Montreal bank is the fourth biggest bank and the most ancient one as well.

It was established in 1817 in Montreal.

The bank has 7 million clients and 950 branches, in addition to a network that link 2000 cashiers.

More than 42000 employees work in the bank. It offers saving and commercial accounts as well as accounts for students and for the newcomers to Canada.

Native Canadians also have banking services. The fees of any account are from 0 to 15.95 dollars for commercial accounts.

Canadian Imperial Bank of Commerce

The Canadian Imperial Bank of Commerce is the fifth biggest bank. It was established in 1961.

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In fact, it serves more than 66 million clients around the world, and it has 1100 branches in Canada.

More than 44000 employees work full time. In addition, there is a network that links 3700 cashiers.

The bank offers many commercial and saving accounts as well as accounts for old-aged people.

In addition, the accounts of the foreign people are saved as dollars. And the fees are from 3.90 to 29.95 dollars monthly.