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Canada has a well developed, technologically advanced banking sector, with many banks offering telephone and internet banking services. The main banks include the Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce and HSBC Bank Canada. There is a vast network of interconnected ATMs throughout the country, which can be used to withdraw cash, deposit cash or cheques and to pay bills. Most employees in Canada have their salaries deposited directly into their bank accounts.

To open a personal bank account in Canada, you will need to provide identification such as your passport or driver's licence, and for tax purposes you will also be asked for your Canadian Social Insurance Number, or for proof that you have applied for one. If applying to open a business account, you are likely to be asked to provide a letter of credit from a bank in your home country.

All Canadian banks belong to the Interac international financial transaction network, and many shops and restaurants in Canada accept debit card payments through Interac.

MasterCard and Visa credit cards are widely accepted in Canada, but American Express and Diner's Club cards are accepted only in the more upscale establishments.

Normal bank opening hours are from 9.30 a.m. to 4.00 p.m. Mondays to Fridays, with some opening between 9.30 a.m. and 3.00 p.m. on Saturdays.

Canada also has a large number of credit unions and trust companies, which provide similar services to the banks. Trust Companies are similar to banks but can be incorporated and regulated within provinces, whereas banks have to be regulated at federal level. Credit unions normally serve a particular region of the country or ethnic group.

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