It would be a good idea to set up a bank account when you arrive in British Colombia. It can make it easier for your parents to transfer money to you, and will make it easier to pay for stuff.
British Columbia is served by all the major Canadian banks, including:
- Royal Bank of Canada (RBC)
- Canadian Imperial Bank of Commerce (CIBC)
- Bank of Montreal (BMO)
- Scotia Bank
- TD Canada Trust
There are several cell phone companies available in B.C. It will be easy for you to get a Canadian phone number and SIM card when you arrive.
This website compares the different cell phone companies available.