{"id":75737,"date":"2023-04-28T16:08:59","date_gmt":"2023-04-28T16:08:59","guid":{"rendered":"https:\/\/moving2canada.com\/?page_id=75737"},"modified":"2024-06-13T19:03:42","modified_gmt":"2024-06-13T19:03:42","slug":"top-5-banking-challenges-for-newcomers","status":"publish","type":"page","link":"https:\/\/moving2canada.com\/living\/finances\/top-5-banking-challenges-for-newcomers\/","title":{"rendered":"The top 5 banking challenges for newcomers and how to overcome them"},"content":{"rendered":"","protected":false},"excerpt":{"rendered":"","protected":false},"author":244682,"featured_media":75742,"parent":4052,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[213,28],"tags":[274,396],"country":[],"province":[],"city":[],"acf":{"hide_ads_on_page":false,"page_header":{"banner_size":"regular","breadcrumbs":"show","disable_overlap_header":false,"hide_banner_text":false,"hide_last_updated":false,"banner_style":"default","label":"Sponsor Content","heading_override":"","sub_heading":"Scotiabank asked newcomers about their biggest banking challenges when moving to Canada. From this survey, banking experts came up with five potential solutions to deal with the five biggest challenges.","button":"","background_image":false,"background_image_mobile":false},"blocks":[{"acf_fc_layout":"introduction","content":"Moving to a new country comes with unique financial challenges. Beyond the expenses of moving, newcomers also have to adjust to Canada\u2019s particular banking and financial systems.","text_color":"secondary","flourish_color":"accent","block_settings":{"margin_size_top":"default","margin_size_bottom":"default"}},{"acf_fc_layout":"content","content":"
To help newcomers get settled in Canada, our experts at Scotiabank conducted a study to better understand the types of financial challenges newcomers face when they move to Canada. It is important for us to know what barriers foreigners face when they arrive in Canada, so that we can offer solutions.<\/p>\n
What we found likely won’t surprise anyone who’s moved to another country to build a new life. Most newcomers feel worried, overwhelmed, and confused by their finances and how to navigate the Canadian banking system.<\/p>\n
That makes sense. Financial rules, practices and products can be very different from one country to another. There’s a steep learning curve for everyone.<\/p>\n
In this article, we’ll walk you through our findings of what our study found were the top five banking challenges for newcomers \u2014 and give you tips for how to tackle them.<\/p>\n
And, if you learn better by watching a video, check out our interview with Ivy (Ang) Li, Financial Advisor of Scotiabank, who talks about everything from credit cards to budgeting, and a whole lot more in between.<\/p>\n