Money and banking

There are many things about money and banking in Alberta for newcomers to the province to learn. In particular, it is useful for you to consider the following:

• Once you find employment, you should be receiving regular income either once or twice a month, depending on the arrangement you have with your employer. Make yourself familiar with your employer's policies as well as Alberta's employment standards regarding payment for work.
   
• Financial institutions such as banks and credit unions offer useful services to help you manage your money. It is useful to know about your bank's services and policies.
   
• Unfortunately, crimes such as identity theft occur that allow individuals to access your personal information, including your financial information. Learn about how to protect yourself and your family from identity theft.
   
• Each year, you must declare your past year's income to the Canada Revenue Agency (CRA) to determine the amount of tax you are required to pay. You should find out about tax payments and credits, as well as the schedule for getting your tax return in on time.
   
• There are many ways you can pay for purchases in Alberta, so you should learn how each payment option works, and what the advantages and disadvantages to each payment option are. It is also useful to know how shopping for goods works in Alberta, and how stores handle refunds and exchanges of unwanted items.

For more details about money and banking in Alberta, please see the other pages in the Money and Banking section of this website.

If you or your family is in need of financial assistance or support, there is useful information on the Alberta Employment, Immigration, and Industry website under Family Supports, or you can find additional resources on the Service Alberta website.

Date Updated: Nov 01, 2007
RDP-538