What do I need to open a bank account in Canada?
You need acceptable identification: two original documents from reliable sources, one with your name and address and one with your name and date of birth, or one document plus confirmation of your identity by someone in good standing. You don’t need a job, money to deposit or a credit history, and a bank that refuses must tell you in writing.
Identification banks accept
Bring originals, not copies. You can use either option:
Option 1: two documents
From reliable sources — one with your name and address, one with your name and date of birth. Examples: government ID, a tax assessment, a benefit statement, a Canadian utility bill, a recent bank or credit card statement, a foreign passport.
Option 2: one document plus a voucher
One document with your name and date of birth, plus confirmation of your identity by a customer in good standing at the bank or a person of good standing in your community.
When a bank can refuse
- It has reasonable grounds to believe the account would be used for illegal or fraudulent purposes.
- You had illegal or fraudulent activity with financial service providers in the past seven years.
- You knowingly gave false information.
- Refusal is needed to protect customers or employees.
- You won’t allow your identity to be verified.
If a bank refuses, it must tell you in writing, with its complaint procedure and contact details for OBSI and FCAC.
Opened by phone? You can change your mind
If you opened the account by phone (at a distance), you have 14 business days to close it free of charge, and the bank must refund account fees you paid, other than interest.
What happens when I open the account?
- The bank checks your identity
Bring originals, not copies. FCAC says banks may also accept other types of ID in certain situations, so ask if you’re missing something. - You get the key information in writing
This includes all charges, interest rate details if any, the maximum cheque hold periods, the bank’s policy for when those maximums don’t apply, and when it will send electronic alerts. - You see the agreement before you agree
In person, you get the account agreement before you consent. By phone, the bank must send you a written copy without delay. - You give express consent
The bank must get your express consent before opening the account. Keep your copy of the agreement — FCAC recommends it.
Do I need a Social Insurance Number?
Your SIN isn’t on FCAC’s list of identification for opening an account. But if the account pays interest, the bank has to report that interest to the CRA. Under section 237 of the Income Tax Act, you must give your SIN to a person who needs it for that kind of return when they ask, within 15 days of the request.
Why is my first cheque held so long?
The federal maximum hold periods don’t apply to accounts open for fewer than 90 days. They also don’t apply to cheques endorsed more than once, cheques deposited six months or more after their date, or deposits the bank reasonably believes are fraudulent. If the bank relies on one of these exceptions, it must tell you in writing and give you FCAC’s contact information.
| After 90 days: eligible cheque | Deposited in person | Deposited another way (ATM, app) |
|---|---|---|
| First $100 of the day’s cheques | Immediately | Next business day |
| Rest of a cheque of $1,500 or less | Within 4 business days | Within 5 business days |
| Rest of a cheque over $1,500 | Within 7 business days | Within 8 business days |
In week one you deposit a $1,200 cheque at the branch. The account is under 90 days old, so the maximums don’t apply — ask the bank what hold it will place. Do the same thing four months later and you get $100 right away and the other $1,100 within 4 business days. Try your own dates in the cheque hold calculator.
Cheques from outside Canada are different. FCAC says they may take longer to clear and banks often hold them for 30 days. If a cheque doesn’t clear, the bank takes the money back out of your account.
Can I open an account if I’m not a Canadian citizen?
Yes. FCAC says you may open an account in Canada with proper identification even if you are not a citizen or live outside Canada, but you may need to visit a branch in person. A foreign passport is on FCAC’s list of acceptable documents. At a federal credit union, the institution may refuse if you won’t become a member.
Common mistakes when opening an account
- Bringing photocopies instead of original ID.
- Signing up for a bigger fee package than you need. Ask about the low-cost and no-cost accounts first.
- Depositing a large cheque in the first week and writing payments against it before it clears.
- Not asking how the bank will treat phone or branch transactions under your plan.
- Opening by phone, then missing the 14-business-day window to close it free if it isn’t right.
What to ask before you sign
- What is the monthly fee, and what waives it?
- How many transactions are included, and which types count?
- What hold will you place on cheques while my account is new?
- Is this account eligible for the no-cost option for my situation (student, senior on the GIS, newcomer and so on)?
- Is the bank a CDIC member? Check the CDIC member directory.
- Can I get a direct-deposit form today?
Choosing the account
Not sure which type? Try the true-cost account finder. Newcomers, students and seniors on the GIS may qualify for a no-cost account.
Newcomers: a foreign passport counts as one of your two documents.
A worked example
Worked example · computed by the fee calculator
Illustrative inputs: $15/month fee, waived at $4,000; usual balance $1,500; 1 month below the minimum; 3.0% alternative rate; 30% tax.
| Option | Cost per year |
|---|---|
| Pay the monthly fee | $180.00 |
| Keep the minimum balance | $67.50 |
| Switch to a no-monthly-fee account | $24.00 |
Break-even rate: 9.43%. Run your own numbers →
What this means for you
You don’t need a job, a deposit or a credit history to open a personal account. You need the right ID and a little care in the first few months.
- Bring originals. Two documents — one with your name and address, one with your name and date of birth — or one document plus someone in good standing to confirm who you are. If you are missing something, ask what else the bank accepts.
- Ask about the no-cost account first. Youth, students, seniors on the GIS, RDSP beneficiaries and newcomers in their first year may qualify for a no-cost account before you consider a fee package.
- Have your SIN handy. It isn’t on the ID list, but if the account pays interest the bank can ask for it, and you must provide it within 15 days of the request.
- Read before you consent. You should get the agreement and key information — charges, interest and cheque-hold periods — before you agree. Keep your copy.
- Go easy in the first 90 days. Federal maximum cheque holds don’t apply to new accounts, so don’t write payments against a large cheque until it clears. Cheques from outside Canada are often held for 30 days.
If a bank refuses you, it must say so in writing and give you its complaint procedure and contact details for OBSI and FCAC — use them. If you opened by phone and the account isn’t right, you have 14 business days to close it free. Not a citizen? You can still open an account with proper ID, though you may need to visit a branch. To choose the account itself, start with the true-cost account finder.
Frequently asked questions
Can a bank refuse to open an account if I have no job?
No. You can open a personal account with acceptable ID even without a job, money to deposit or a credit history, unless one of the refusal grounds applies.
What ID do I need to open a bank account in Canada?
Two original documents from reliable sources (one with name and address, one with name and date of birth), or one document plus confirmation of your identity by someone in good standing.
Do I need a SIN to open a bank account?
A SIN isn’t on FCAC’s ID list. But if the account pays interest, the bank must report it to the CRA, and the Income Tax Act requires you to provide your SIN when asked for that purpose.
How long can a bank hold a cheque on a new account?
The federal maximum hold periods don’t apply to accounts open for fewer than 90 days. Ask the bank what hold it will use; it must tell you in writing if it relies on this exception.
Can I open a bank account if I’m not a Canadian citizen?
Yes, with proper identification. FCAC says you may need to visit a branch in person.
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