Open International Student GIC Account
- Category:Services
- Country:Canada
- View Counts:76
- Published on:05-Jan-2026
The award-winning1 BMO NewStart® Program allows residents of a qualifying country to open a chequing account in minutes*62 and, if you’re an international student, to open a Guaranteed Investment Certificate (GIC).
To qualify for this program, you need to be:
- At least 14 years old
- A resident of a qualifying country
- Coming to Canada within 12 months as a permanent resident, foreign worker or international student.
- Opening an account for yourself, not a friend or family member
If you are a resident of China and don’t meet these requirements, please contact one of our BMO China Offices for assistance.
Download the International Student GIC Program Guide:
Download the NewStart© Everyday Bank Account Guide:
Here’s what you can expect:
Step 1:
Submit the online application.
Step 2:
We'll process your application within minutes*62. If we have everything we need, we'll send you your account details and wire transfer instructions. If we require additional documents first, we'll let you know by e-mail.
Step 3:
Wire up to $75,000 CAD** for a bank account or from $23,050 Canadian dollars§ (including $22,895§ to set up the Student GIC and $150 to cover BMO program fees****) to $75,000 Canadian dollars for a GIC.
Step 4:
If applying for a GIC, we’ll also send you a GIC certificate.
Step 5:
Visit a BMO branch when you get to Canada to activate your account and access your money.
To apply for a Student GIC and a chequing account, you’ll need:
- A valid passport
- A letter of admission from your school as a PDF or JPEG
To apply for a chequing account, you’ll need:
- A valid passport
- Your Canadian visa, or, if you’re an International Student planning to apply for a visa, a letter of admission from your school as a PDF or JPEG***
* Your chequing account will be the Practical Plan with the monthly fee waived for the first 12 months. When you arrive in Canada and visit a BMO branch to activate your account, one of our representatives can help you choose the appropriate plan for your everyday banking needs.
** If you’d like to make more than one wire payment and you are a resident of China, please apply through BMO China.
§ At present, the BMO International Student GIC program offers a GIC in the amount of $22,895, which reflects the financial requirements for study permit applicants who intend to study outside the province of Quebec. For details, please visit to the IRCC website.
1 BMO NewStart® Pre-Arrival account opening program won two global awards for Newcomer Digital Experience in 2023: BAI Global Innovation Award for embracing digital innovation to transform the customer experience, and Qorus-Accenture Banking Innovation Award as Gold winner in the Core Offering Innovation category.
***Canadian visa is required for International Students from China unless the application is for a Student GIC.
**** $150 is comprised of a $134 program fee and $16 incoming wire fee. Third-party bank charges are the responsibility of the sender. It is the sender’s responsibility to ensure that the transfer amount still satisfies the minimum remittance amount of $23,050 CAD after any third-party bank charges are applied.