How does an unlocked iPhone 5 work?

Can you just put in any nano SIM card into it and it will work? Can I just go to a telus store and buy a SIM card and put it in the phone then it will work? Do I need to sign up for a plan? I'm confused!

Yes, you could go for & get a SIM & it would work.
Yes of course you'd still have to sign up for a plan, though in a way it is up to you, unless they specify the iPhone has to be on a special plan.

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