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HomeBankingBeacon Launches Digital Wallet for Immigrants Moving to Canada

Beacon Launches Digital Wallet for Immigrants Moving to Canada

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  • Toronto-based fintech Beacon is set to launch Beacon Money, Canada’s first digital wallet dedicated to new international residents, in January 2025.
  • The wallet simplifies account setup for immigrants, requiring no Canadian ID, local address, or credit history. It supports bill payments, salary deposits, and Interac e-Transfers.
  • Users can activate their wallet up to six months pre-arrival to start managing their finances before moving.
  • Indian users can link Beacon Money with Beacon Remit, a service enabling pre-funded transfers to Canadian accounts before departure.
  • Powered by Visa prepaid cards, Beacon Money ensures seamless global transactions online, in-store, and at ATMs.

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