Banks: you should be fine with any of the big 5; look at their newcomers package to obtain free banking for 3-12 months as well as a credit card.
Phone: for prepaid the best values are Chatr (3G only), Public Mobile and Lucky Mobile. For contract brands such as Fido, Koodo or Virgin will give you the most bang for your bucks (or rather toonies)
Congrats and welcome to Canada!