HOW TO BANK AND INVEST IN CANADA? | Every new immigrant should know these basics❗

When you are new to Canada, it gets a little confusing as to where to put all your savings? What types of Bank accounts are there? etc. In this video, we have covered the basics of all of that and we are sure after watching this, a lot of things would get clear to you and you will feel more confident about your knowledge on the Canadian Banking industry.
Check which banks are CDIC insured: www.cdic.ca/your-coverage/lis...
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Timecode:
00:00 - Intro
00:31 - Types of Bank accounts in Canada
05:42 - TFSA
08:52 - RRSP
11:00 - RESP
12:02 - RDSP
Inspired by:
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[@bryanmallinson8972]

This is an excellent overview for newcomers. Good job.

[@InTheNorthCanada]

Thanks Bryan! 🙂👍🏻

[@prajaktajoshi2232]

Great content and pretty simplified! Looking forward for more videos! 👍😊

[@helloworld2846]

thanks a lot for this wonderful explanation of different types of accounts. bit complex banking system for beginners, but you guys explained it very well.

[@TheScientist81]

Hey guys, you both are doing such a great job and covering all important points. Thank you so much! You guys truly deserve many more followers!

[@InTheNorthCanada]

Thank you Sowmia for such a nice comment! 🙂🙏🏻. With all your support our subscribers will also keep on increasing. So please Like Share Subscribe and don't forget to press the bell icon ☺️

[@karan_1993]

Good video guys, keep it up.

[@rajeswarip2405]

It's very informative..u both are doing great job ..all the best 🎉😊

[@satwindersingh4675]

Thanks for clearing the things

[@pghai4452]

Nicely explained !

[@sumedhaholker2335]

Even the confusing thing explained so clearly and informatively 😄 Keep Going ❤️

[@InTheNorthCanada]

Thanks a lot Sumedha! ☺️👍🏻

[@narinderkalia8077]

Great ,the road to success is always under construction .carry on.

[@InTheNorthCanada]

Thanks! 👍🏻

[@ummehani111]

Thank you for the information. This is really helpful. Do you recommend to open these accounts with the same bank or in different banks ?

[@shivangigohil3916]

Thanks for sharing this

[@ranacouple4816]

Useful information..

[@AtulSharma-vc2tg]

hello.. I am desperately waiting for a detailed video on TFSA, RRSP and RESP.. please consider making a detailed video on these.. thankkk youuuu!!

[@ektassharma3003]

Kudos to you...when it comes to giving even the smallest of details..u guys are pro👍

[@InTheNorthCanada]

Hehe thanks! 😀🙏🏻

[@parkheesinghal580]

this is great information....i wonder how ppl missed this...you deserve much for views & like.

[@InTheNorthCanada]

Thanks a lot!! Please share the word 😀😀

[@karansahota4858]

Finally found a smart and ambitious couple 🙏🏻🙏🏻🙏🏻
Keep up the good work, just subscribed within 30 sec of watching it.

[@InTheNorthCanada]

Thank you so much Karan for your kind words. It really motivates us when people appreciate our efforts. So thanks once again and see you in our next video 😉👍🏼

[@ishasharma3474]

Very informative 👍keep it up👏👏 waiting for the next video 😉😘😍

[@InTheNorthCanada]

Thanks Isha. Next video will be out in 2 days ☺️👍🏻

[@reenXsham]

Pakistan mien bhi chequing accoung and savings both hote hein... Chequeing is called current account here. But in savings acc the interest rate is quite good here.. And u can transact the money as much as u can too!

[@Kid_coach_Vihan]

Very nice nd informative video ,u both do great work👍👍👍👍

[@InTheNorthCanada]

Thanks a lot for appreciating! ☺️🙏🏻

[@ramkumarbarathan]

You guys can start a news channel in Canada on behalf of Indians. Really you got that slang and presentation 😇

[@rosh1804]

Waiting for the detailed video on Tfsa and rrsp…😁😁

[@thewanderer8158]

Hey, would request u to clear the two doubts mentioned below:
1. If I make all transactions from my credit card and pay cc bill from savings account, that ways it is just ONE transaction from my savings account (must be free) and I'll not be requiring a checking account and pay maintenance charges for that account. Am I right saying so?
2. If I link any financial products (like stocks for instance) with TFSA then it will surely go beyond the limit of CAD 6000, in that case, will there be any penalty?

[@reenXsham]

Very nice n clear vids by u guys... 👌👌👌Thnx alot

[@InTheNorthCanada]

Hi Anbreen, thank you so much for your feedback :) Interesting to hear about Pakistan as well. In India they do have current accounts also, but often only businessmen use them and most people only have savings account. Is that same in Pakistan? :D

[@ajaykadlag6564]

Could you please share information about EPF COC?

[@yunisites]

Can I open both checking account and Saving account in same bank?

[@A_Canadian_In_Poland]

One plus about the Canadian Banking System: if money is stolen electronically in a fraudulent manner, it is the BANK that is financially liable. I once had someone try to purchase jewellery using my credit card, and the personal information with the bank was that I am a single male, therefore, the purchase makes no sense, thus tripping their electroic system. In this case, my card was immediately closed, with a new card with a new number arriving in the mail a week later at no cost to me. This is why most contactless payments in Canada are limited to $100 (a tiny write-off for a bank in the event of theft).

[@LakhwinderSingh-mk4of]

You guys are soo sweet

[@meenakshikalia8021]

Very well explained.Superb

[@InTheNorthCanada]

Thank you! ☺️🙏🏻

[@VR.1980]

Nicely explained 👍

[@InTheNorthCanada]

Thank you! ☺️🙏🏻

[@GauravSharma-xn4tp]

👍🏻👍🏻

[@InTheNorthCanada]

Thanks 👍🏻☺️

[@anitaholker3747]

Very nice

[@InTheNorthCanada]

Thanks! 😊

[@harshitmadhian2409]

So tfsa is like demat account?

[@vandanakasturia40]

Useful video 👍

[@InTheNorthCanada]

Thank you! 😊🙏🏻

[@shwetamunjal3950]

A fist pump from my side to both of you!! 😇 A very informative video🏆🏅

[@InTheNorthCanada]

Haha thanks! 😄👍🏻

[@benonititus5127]

Hello guys .
How did you bring your proof of fund and money from your home country to Canada ?
I mean through banking or card or cash .
Did you open a bank account before yu reached Canada ?
Please explain .
Which is the best way to bring money from India . Considering the foreign exchange market.
Thanks for considering.

[@InTheNorthCanada]

We mixed it up. We brought some in Cash and some in Forex Card. And the remaining we did the wire transfer later when it was required!

[@emanasa]

The checking account is called the current account in India right!!

[@emanasa]

RRSP is just like PF or NSP in India right!

[@elianorkhoury508]

Why not in English? 😢

[@ARAVINDKUMAR-tp1xh]

I'm a aspiring immigrant to Canada i just have a small doubt, can we transfer the money earned in Canada to India to enjoy the benefit of high interest rates in India

[@InTheNorthCanada]

Yes you can. People always send money to India to their family. So I don't see any issue there.

[@davidclarke10]

you are from india

[@manmohansingh-mc1mu]

Hey guys still awake !!! ..

[@InTheNorthCanada]

Videos are scheduled ☺️

[@manmohansingh-mc1mu]

@@InTheNorthCanada timing it strategically, nice!!!

[@unwantedexplorer2286]

Come ...impressive topic...but try to speak in one language English or Hindi 🤦🏻‍♂️