Moving to Red Deer

Money and Banking

The currency of

Canada

is the Canadian dollar which is denoted with the $ symbol. Currency conversion calculators can be found at the Bank of Canada.

The currency system is made up of coins and paper money. Pictures and descriptions of the currency can be found at this site.

One of the first things you will need to do when you move to Red Deer is open an account with a bank or credit union. Having an account will allow you to manage your money, pay bills, and obtain a chequing account, a debit card, and a credit card. Having a bank account will also be useful if you require a mortgage loan to buy a house. Once you find employment, your employer will pay you every 2 weeks or once per month. Most employers will automatically deposit your pay to your bank account, or give you a cheque.

You will need a Social Insurance Number (SIN) to open a bank account. See the SIN section of this website for more information.

Detailed information about Money and Banking can be found at Alberta’s immigration website.