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Vancouver Banks - Banking Information for Students

Banks in Vancouver - Vancouver Canada

Banks in Canada are safe and reliable. If you are careful, you can maintain a bank account with very little expense while you are in Vancouver.

On the other hand, students who carry cash sometimes lose it. In the past, there have been some large losses. You can avoid this problem by keeping your money in a bank account. You can then use a bank card or cheque for most purchases, including payment of your school fees.

How to Open a Bank Account in Canada

It is easy to open an account at the Royal Bank of Canada (RBC). Someone from VEC takes new students to the bank every Monday at 1:00pm.

To open an account, you will need the following:

Passport.
Proof of Vancouver Address - You must be living in a homestay, apartment, or house. The bank does not accept hotel, motel, or hostel addresses. If you are living in a VEC homestay, you should take the written description of the homestay that VEC gave you.
Letter of Acceptance - If you do not have a student visa, you can give the bank a letter from the school, confirming enrollment. You can get this letter from the receptionist.

The bank will open a signature account for you and issue a client card and a temporary supply of cheques. The student package includes 25 self-serve bank transactions per month. The cost is $3.50 per month. This package includes student discounts at a wide variety of local businesses and attractions.

It will be two days before you can use the automated banking machine (ABM) or cash a cheque.

Contacting the Main Branch of the Royal Bank of Canada

If you have questions regarding new accounts, please contact Ms. Sonia Jacoboni at the Royal Bank of Canada:

Ms. Sonia Jacoboni
Student Banking / International Account Representative
Royal Bank of Canada, Main Branch, Royal Centre
1025 West Georgia Street
Vancouver, BC V6E 3N9 Canada
Tel.: (1 - 604) 665 8792
Fax: (1 - 604) 606 6212
Email: sonia.jacoboni@royalbank.com

Students must close their account before leaving Canada.

Main Branch Address

The Royal Bank of Canada Address for Student Accounts is at the Main Branch only. The address is:
1025 West Georgia (at Burrard Street)
Vancouver BC Canada

Other branches might not open an account for you.

Remember - Do not give your bank PIN number to anyone!

Free Online Foreign Currency Converter

The Canadian dollar is quite low, in relation to many other currencies. Consequently, Canada is an inexpensive place to study.

Compare the Canadian dollar to other currencies with our free online currency converter

Foreign Currency Exchange Rates in Canada

Currency exchange rates are very good for visitors to Canada. You should, however, be careful about how you exchange your currency. Learn more about currency exchange rates in Canada.

RBC Royal Bank

The Royal Bank is the largest bank in Canada. Visit the RBC Royal Bank website.

Vancouver Consumers Guide

Use our guide as a handy reference to find hotels, restaurants, professional services, and more in Vancouver. Go to our Vancouver Consumers Guide now.

Rocky Mountains Vacations

Vancouver Banks

Culture

Canada GST Rebate / GST Tax Refunds

Currency Exchange

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