Our 2 Astrolabes, dated from the early 1600's were discovered near Channel-Port aux Basques. They are both in mint condition and in working order. A very rare and valuable find for Newfoundland and all of Canada.
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Bruce II Sports Centre
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About our 2 Astrolabes
Explore our connection with age-old astronomical instruments used by navigators. Two astrolabes are featured in Channel-Port aux Basques, dating from the 1600's.


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Town of Channel-Port aux Basques
Home > Immigration Portal > Banking

Banking

Moving to a new country or community can involve using an entirely new monetary system. The official Canadian currency is the Canadian Dollar ($). One dollar is equal to 100 cents (¢). When arriving in Canada, new residents will notice how the money system is written in several ways.

To demonstrate:
$1.33 = One Dollar and 33 cents
$0.33 = 33 cents
33¢ = 33 cents

Canadian currency consists of both coins and paper money, known as bills. While there are six forms of coins, each has a different size, markings and shape so they can be easily identified. All paper money is the same size yet different in color and includes Braille for the visually impaired. For newcomers to Canada, it is advisable to have a small quantity of Canadian Currency prior to arriving in the country. This will allow for small purchases and emergency savings on hand for the initial days of arrival. In Canada, most individuals have bank accounts where they are able to store their money and savings. Using a bank can ensure that your money is safe, secure and unable to be stolen.

Debit Cards

Debit cards are referred to as check cards or ATM cards. These cards look like credit cards but they operate similar to a personal check or cash and require a Personal Identification Number (PIN) to access funds. They are means of paying now as opposed to credit cards which require the individual to pay later. Once a debit card is used, your associated checking or savings account is deducted instantaneously. Many individuals choose to use debit cards as opposed to cash because the card can be easily carried with you and doesn’t involve carrying large amounts of money. Debit cards are widely accepted at most locations, including grocery stores, retail stores, gasoline stations and restaurants.

Tips to Using Debit Card Responsibly

• If your debit card is stolen or lost, report to your financial institution immediately
• If you suspect your card is being used fraudulently, report to your financial institution
• Keep receipts from debit card transactions
• Memorize your PIN, do not carry it with your card
• Never provide your PIN number to anybody else
• Always be aware of how much money is in your bank account
• Keep all receipts in one place

Credit Cards

In addition to cash and debit cards, most businesses accept credit cards as payment for purchases. Larger purchases acquired through a credit card can make the transaction easy and safe. Credit cards are widely accepted throughout Channel-Port aux Basques to provide an additional payment method and allow the user to select the most appropriate payment option for the purchase. The use of credit cards has multiple advantages:

• They allow the purchase of larger items without paying interest until the due date
• Monthly statements allow for tracking of spending
• Usages of these cards allow security and convenience
• Credit cards are essential to purchasing certain services such as a cell phone, renting a vehicle or online buying

All banks in Newfoundland and Labrador offer a variety of banking services.

Leading Edge Credit Union
27 Grand Bay Road (P.O. Box 680)
Port aux Basques, NL A0N 1K0
Tel: (709) 695-7000 Fax: (709) 695-7014
Website: www.lecu.ca

Bank of Nova Scotia
176 Caribou Road ( P.O. Box 670)
Port aux Basques, NL A0M 1C0
Tel: (709) 695-5630 Fax: (709) 695-9736
Website: www.scotiabank.com

Bank of Montreal
33 Main Street (P.O. Box 1300)
Port aux Basques, NL A0M 1C0
Tel: (709) 695-5603Fax: (709) 695-7867
Website: www.bmo.com

Helpful Links

Universal Currency Converter
Royal Bank of Canada
History of the Canadian Dollar
Symbols of Canada

View Provincial Newcomers Guide
We strongly recommend the Newfoundland & Labrador official Newcomers Guide as a highly valuable resource. This 94 page guide is maintained with useful information surrounding government, housing, transportation, travel, education, childcare, healthcare, legal system, employment and much more. This indispensible tool contains information about many essential facts which will greatly help your adaptation to our province & Channel-Port aux Basques.
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