Latest information and updates about COVID-19 (coronavirus) from McMaster University
Skip to McMaster Navigation Skip to Site Navigation Skip to main content
McMaster Logo McMaster logo

Graduate Studies

Banking

Setting up your bank account

When you arrive in Canada, setting up your bank account should be a priority. You are required to have an account at a Canadian banking institution.

If you would like more information on banking in Canada, visit Educanada.

Canada has five major banks. Each has student rates that you can ask about.

To open a bank account, you will need

  • passport
  • study permit
  • address verification (lease, bill, mail, etc.)

If you have a scholarship payment owing to you, we will coordinate the refund for you and you will receive an e-transfer to your McMaster email address within a week after we process the payment.

If you are paid Research Scholarship, TA, and/or RA in lieu of TA, these monies will be deposited directly into your bank account. This method of payment is mandatory.

Enrol in Direct Deposit

To receive your monies, YOU must download and complete the Employee Contact and Deposit Form from the Human Resources website and email the completed form to hr.mcmaster@mcmaster.ca.

Please note: You must have a Canadian bank account to enrol in Direct Deposit.