Before leaving your home country, ask your bank if you can use your bank card (debit card) to withdraw money in Canada. If a PLUS, Cirrus or Maestro symbol appears on the back of your card, you may withdraw money from bank machines (ATMs) with the same symbol(s). ATMs are convenient but keep in mind that you will be charged a transaction fee each time you withdraw money.
When choosing a bank in London, we recommend that you:
After you choose a bank, you can find the branch nearest to you. To see which banks are close to Western, view the Banks Close to Campus section below.
There are three basic types of bank accounts:
Tips: You may want to open an account that provides you with cheques to pay for things like rent. If you do not have a chequing account, you can ask your landlord if he/she accepts email transfers(e-transfer) instead.
You need to bring two pieces of identification to open a bank account; bring your passport and another piece of photo identification, such as your WesternOne Student card.
In order to transfer money from your home country, you must first open a bank account in Canada. You may want to bring bank drafts from home to allow you to open a bank account when you arrive in London. A bank may accept bank drafts, cheques or letters of credit. However, money will not be transferred until it is cleared by your home bank. This process may take a few days or a few months.
1. Determine what you need your bank account to do and ensure the bank you choose provides these services:
2. Ask upper-year international students about their banking experiences. Which bank do they use? Are they happy with the service? How quickly does their bank transfer funds?
3. Ask the bank the following questions:
4. Visit the branch closest to you and ask to speak to someone who can suggest the right kind of account for you as an international student.
5. Make your needs clear.
6. Ask for the business card of your account manager or someone else who you can call if you have questions about your account.
Bank of Montreal
101 Fanshawe Park Rd. East (located next to McDonald’s) 519-667-6273
CIBC (Canadian Imperial Bank of Commerce)
228 Oxford St. East (Oxford St. & Richmond St.) 519-661-8110
97 Fanshawe Park Road East (Masonville Place parking lot) 519-661-8182
HSBC (Hong Kong and Shanghai Banking Corporation)
285 King St. (corner of Wellington Rd. across from Citi Plaza) 519-439-1631
President’s Choice Financial No-Fees Banking
1740 Richmond St. (inside Loblaws) 519-663-8029
Royal Bank (RBC)
383 Richmond St. (located near Dundas Street) 519-661-1180
109 Fanshawe Park Rd. East (at North Centre Rd.) 519-660-6902
TD Canada Trust
1137 Richmond St. (near the University gates on Richmond St.) 519-673-6021
For a complete list of all the banks in London look under the "Banks" section of the Yellow Pages in the London Telephone Directory or online at www.yellowpages.ca.