PRE-ARRIVAL

Muchen feels excited. He wants to bring funds to start graduate studies with enough financial resources, and learn about Canada’s financial system.

Situation:

  • Learns about the Canadian banking system through University of British Columbia online resources.

  • Opens a bank account with Scotiabank online. (This program allows international students to transfer up to $50,000 CAD prior to moving to Canada).

  • Brings some cash from China to Canada.

Barriers:

  • Ineligible for any Canadian credit products.

Opportunities for financial institutions:

  • Create banking packages that allow international students to set up accounts before their arrival.

  • Provide financial literacy training to international students.

Next

0-2 Years