#1 Financial Literacy for International Students in Canada

s2s · May 22, 2023
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Brief Description:
This lesson on financial literacy for international students in Canada provides essential knowledge and practical skills to manage finances effectively. Students will learn about the Canadian banking system, including how to open and manage bank accounts, understand and use credit products responsibly, and explore the benefits of Guaranteed Investment Certificates (GICs). The course also covers digital banking, online security, and practical tips for minimizing banking costs and safeguarding against fraud. Additionally, students will gain insights into budgeting, income potential, and compliance with work rights, equipping them with the tools to achieve financial stability and make informed financial decisions during their stay in Canada.

Introduction to Canadian Banking

Overview of the Canadian Banking System

  • Understanding how the Canadian banking system operates
  • Key players in the system, including the “Big Five” banks

Understanding Canadian Banking Products

Current Accounts and Savings Accounts

  • Types of accounts and their features
  • How to select the correct account for your financial needs

Credit Products: Loans, Credit Cards, Mortgages

  • Basics of credit products
  • Responsible use of credit

Insurance Services Provided by Banks

  • Overview of insurance options available through banks

Canadian Banking Services for International Students

Opening a Bank Account: What You Need

  • Steps to open a bank account in Canada
  • Required documentation and eligibility criteria

Student Bank Accounts: Features and Benefits

  • Special accounts designed for students
  • Maximizing the benefits of student accounts

Guaranteed Investment Certificate (GIC)

  • Understanding GIC and its growing importance since 2024
  • Benefits of investing in a GIC for financial security

Sending and Receiving Money Internationally

  • Various options for international money transfers
  • Comparing costs and speeds of different services

Credit Cards and Building Credit History in Canada

  • Applying for a credit card as a student
  • Tips for building and maintaining a good credit history

Financial Management for International Students

Budgeting

  • Creating and maintaining a personal budget
  • Tools and apps to help manage your finances effectively

Income Potential

  • Exploring opportunities for part-time work and internships
  • Understanding income potential and managing financial expectations

Breaching Work Rights and Restrictions

  • Overview of work rights for international students
  • Consequences of breaching work restrictions and ensuring compliance

Digital Banking in Canada

Overview of Digital Banking and Mobile Apps

  • Introduction to digital banking services
  • Popular mobile banking apps and their key features

Online Security Measures

  • Tips for secure online banking
  • Identifying and avoiding common security threats

E-Transfer – Sending and Receiving Money Digitally

  • Using e-transfer services
  • Advantages and limitations of digital money transfers

Practical Tips

Tips to Minimize Banking Costs

  • Strategies to minimise fees & charges
  • Best practices for cost-effective banking

How to Safeguard Against Fraud

  • Recognizing common types of banking fraud
  • Protecting your account and personal information

Resolving Issues with Your Bank

  • Steps to take when facing banking issues
  • How to escalate unresolved problems

About Instructor

s2s

130 Courses

Not Enrolled
Contact for Pricing

Course Includes

  • 1 Quiz
  • Course Certificate
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