With the help of Soctiabank’s StartRight Program, new immigrants can learn how to build credit, set up registered saving plans, such as Registered Education Savings Plan (RESP), and help them to get a mortgage.

One of the simplest things a newcomer can do to reach sort or long-term financial goals is to set up a savings account.

The program helps new immigrants to learn how to use credit cards wisely by paying bills on time and limiting themselves to one or two cards; set up RESPs to help students pay for post-secondary studies, and get a mortgage plan that is best suited to their family.

Other services available include The Scotiabank MomentumPLUS Savings Account which lets people earn interest on their money; the Tax-Free Savings Account (TFSA), which allows people to save a set amount of funds each year without being taxed, and funds can be withdrawn at any time; and High-Interest Savings Account (HISA), which pays higher interest rates on the money people deposit and allowing them to withdraw at any time.