Banking in Kamloops
Updated March 2018
There are a number of resources that focus on banking services for newcomers in Kamloops. TD Canada Trust produced an interesting report entitled Knocking Down Barriers Faced By New Immigrants To Canada Fitting the Pieces Together that provides a lot of relevant data on current challenges that are experienced by immigrants and what can be done to set things right. Newcomers to Canada and Financial Services Avoid Fraud and Get Fair Treatment is a great power point presented at the Forum on Financial Literacy for Newcomers to Canada as it lists challenges that newcomers face and what can be done to improve the situation. Newcomers to Canada Day Planner goal is to give a quick and easy access to things one needs to know as one builds a new life in Canada, such as: buying or renting a home, finding a job, checking out your qualifications and credentials, information about Canada’s health care system, education systems, and government programs, learning more about house prices, credit card rates, car leasing, dentists, taxes, your rights and responsibilities in Canada, training programs, employers, starting a business, and common business practices. Citizenship and Immigration Canada also developed a Handbook: Planning to work in Canada? An essential workbook for newcomers, which provides a good review on how you can start your work history to strengthen your income.
An interesting newcomer checklist is available online, where one can learn the key things to do once the person arrives at the new city (all data is for Manitoba but can be updated for Kamloops). Sponsorship Handbook provides information on how to sponsor a refugee to Canada with information on how to satisfy needs of refugee The sponsorship guide is written in Toronto for Syrian refugee, it can be easily adapted for Kamloops for any refugee. Another resource that was not produced for Kamloops but the city of North Bay and can be helpful to anyone who is new to Canada: Financial literacy guide for newcomers to Canada. Canadian Bankers Association have a designated page that a great resource with links to major banks information for newcomers/ new Canadians. You can find all your banking questions answered on Canadian Bankers Association questions and answers website. The list of all banks in Kamloops can be found here.
Some topics that are relevant to banking include Chequing vs. Savings; Accounts / Types of Savings; Accounts / RRSP, RESP, RDSP, TFSA / Affordable Banking Services / Credit and Banking Services / How to protect yourself financially / Starting your own Business. They are covered in two modules: How to Bank and Save In Canada and How to Build Credit in Canada. The other documents are available on ABC Money Matters website to include Independent Workbooks: A Place to Start: Spending Plans; RESPs and Other Ways to Save and Financial Literacy for the Family; Tip Sheets: Celebrate Holiday Cheer and Financial Education with Your Family and Tips to Keep on Budget During the Holidays. The government of Canada has developed an online program (The City) that teaches young people financial skills that they can carry with them throughout their lives.
7 Common Credit Score Myths is an excellent article to learn about credit score through debunking common myths. Please review How to Get Your Free Credit Report & Check Your Credit Score and do it once a year. Monesysense provides some good tips on how to build a credit score for newcomers. You can also estimate your credit score online If you have debts, then get debt help.
Enjoy learning about banking in Kamloops.