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SIN Number
As an international student in Canada, you are eligible to apply for a Social Insurance Number (SIN) if you have a valid study permit that allows you to work on or off-campus. Here is the process to obtain a SIN number:
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Gather the required documents: Make sure you have the necessary documents before applying. You will need your valid passport, study permit, and either a valid work permit or a letter of introduction from your educational institution indicating that you are eligible to work off-campus.
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Locate the nearest Service Canada Center: Visit the Service Canada website or contact their helpline to find the nearest Service Canada Center to your location. These centers provide SIN services.
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Visit the Service Canada Center: Once you have identified the nearest Service Canada Center, visit the center in person. It is advisable to make an appointment in advance, if possible.
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Complete the application form: At the Service Canada Center, you will be provided with an application form. Fill out the required information accurately. If you need assistance, the staff at the center will be able to help you.
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Submit the application: Submit the completed application form along with the required documents, such as your passport, study permit, and work permit or letter of introduction. The staff will verify the documents and process your application.
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Receive your SIN number: Once your application is processed, you will be issued a SIN number. This is a unique nine-digit number that you will use for various purposes, such as taxation, employment, and accessing government services.
Remember to keep your SIN number confidential and only share it with authorized entities when required.
Most popular Bank Options in Kingston
GIC Account
The process of opening and activating a Guaranteed Investment Certificate (GIC) account for international students from their home country to Canada typically involves the following steps:
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Research GIC providers: Research and identify Canadian financial institutions that offer GICs for international students. Ensure that the chosen GIC provider meets the requirements set by the Immigration, Refugees and Citizenship Canada (IRCC) for study permit applications.
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Choose a GIC provider: Compare different GIC providers based on factors such as interest rates, terms and conditions, fees, reputation, and customer reviews. Select the provider that best suits your needs.
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Gather required documents: Contact the chosen GIC provider or visit their website to determine the specific documents required to open a GIC account. Typically, you will need your passport, proof of acceptance from a Designated Learning Institution (DLI) in Canada, and proof of funds for the GIC investment.
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Complete the application forms: Fill out the GIC application form provided by the selected GIC provider. Provide accurate information, including your personal details, educational institution information, and investment amount.
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Submit the application and funds: Submit the completed GIC application form along with the required funds for the GIC investment. The GIC provider will provide instructions on how to transfer the funds, which can usually be done through wire transfer or online payment.
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Receive GIC certificate: Once the GIC provider verifies your application and funds, they will issue a GIC certificate to you. The certificate will contain important information, such as the investment amount, term, and maturity date.
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Wait for Confirmation of Acceptance (CoA): After receiving your GIC certificate, you will need to submit it along with other required documents to the educational institution in Canada. The institution will review your application and issue a Confirmation of Acceptance (CoA) letter if you meet their requirements.
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Apply for a study permit: With the CoA letter, you can now apply for a study permit to Canada. Follow the application process set by the IRCC and provide all necessary documents, including your GIC certificate, CoA letter, and other supporting documents.
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Arrive in Canada and activate the GIC: Once you arrive in Canada, visit the branch of the GIC provider where you opened the account. Bring your passport, study permit, and other identification documents as required by the GIC provider. The bank representative will verify your identity, provide necessary paperwork, and help you activate the GIC account.
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Start receiving payments: After activating the GIC account, you will start receiving regular payments, typically monthly, as outlined in the GIC agreement. These payments will be deposited into your Canadian bank account.
Opening a bank account
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Choose a Bank: Research different banks in Canada to find one that suits your needs. Some popular options include Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD), Bank of Montreal (BMO), Scotiabank or Canadian Imperial Bank of Commerce (CIBC).
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Gather Required Documents: Typically, banks will ask for the following documents:
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Passport: Ensure you have a valid passport. b. Study Permit: You'll need to provide proof of your study permit or acceptance letter from a recognized Canadian educational institution. c. Proof of Address: Some banks may require proof of your Canadian address, such as a lease agreement, utility bill, or a letter from your school's housing department. d. Social Insurance Number (SIN): If you have a SIN, bring the original document. If not, you can apply for one once you arrive in Canada.
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Visit the Bank: Go to the branch of your chosen bank. It's advisable to make an appointment in advance, although some banks allow walk-ins.
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Speak with a Bank Representative: Explain that you're an international student and want to open a bank account. The representative will guide you through the process and provide necessary forms to fill out.
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Complete Application Forms: Fill out the application forms accurately. You may need to provide personal information, contact details, and details about your educational institution.
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Deposit Funds: Some banks may require an initial deposit to open the account. The amount varies, so check with the bank beforehand.
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Provide Required Documents: Submit the necessary documents, including your passport, study permit, proof of address, and SIN (if applicable).
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Review and Sign: Carefully review the terms and conditions provided by the bank. If you agree, sign the necessary documents.
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Receive Account Information: Once your application is processed, you'll receive your account information, such as account number and debit card details.
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Activate Your Account: Follow the bank's instructions to activate your account, which may involve creating a Personal Identification Number (PIN) for your debit card.
Remember, these steps may vary slightly between banks. It's always a good idea to contact your chosen bank directly or visit their website to get specific information about their account opening process for international students.
Things to be aware of
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Account Types: Different banks offer various types of accounts, such as student accounts, chequing accounts, savings accounts, or accounts with special benefits for students. Consider which type of account suits your needs and inquire about any fees or limitations associated with each account type.
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Fees and Charges: Banks may have different fee structures, including monthly account maintenance fees, transaction fees, and fees for additional services. Compare the fee schedules of different banks to find one that offers competitive rates or fee waivers for students.
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Accessibility and Convenience: Consider the accessibility and convenience of the bank's branch and ATM network. Ensure there are branches and ATMs conveniently located near your campus or place of residence. Additionally, check if the bank offers online banking services or a mobile app for easy account management.
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International Transfer Services: If you plan to receive funds from abroad or need to send money internationally, inquire about the bank's international transfer services. Consider the exchange rates, fees, and processing times associated with these services.
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Customer Service: Consider the quality of customer service provided by the bank. Look for reviews or ask other students about their experiences with different banks. Prompt and helpful customer service can be crucial when you have questions or encounter issues with your account.
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Additional Services: Some banks offer additional services that may be relevant to students, such as credit cards, student loan programs, or discounts on products and services. Consider if these offerings align with your needs and can provide added value.
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Student Benefits and Promotions: Inquire about any special benefits or promotions specifically available to students. Some banks may offer reduced fees, increased interest rates, or other perks for student customers.
Taking these factors into account will help you make an informed decision when choosing a bank in Canada as an international student. It's also a good idea to visit the banks' websites or contact their customer service to gather more specific information about their services and offerings for students.