Banking
Canada — Banking: Required Documents
Opening a Canadian bank account requires two original pieces of identification (at least one photo ID — passport, PR card, or Canadian driver's licence), proof of immigration status (PR card, COPR, work permit, or study permit for newcomers), and proof of a Canadian address (rental agreement, utility bill, employer letter, or in some cases a settlement-agency letter for temporary accommodation). A Social Insurance Number (SIN) is not required to open a basic, non-interest-bearing chequing account, but is required to open any interest-earning account (savings, interest chequing); newcomers can open a basic account first and add the SIN later. Under FCAC-enforced rules, federally regulated banks must open a basic personal account for anyone providing acceptable ID, regardless of employment, credit history, or funds to deposit.
Key facts
- Two original ID documents required, at least one photo ID (passport, PR card, driver's licence).
- Newcomers need proof of immigration status: PR card, COPR, work permit, or study permit.
- A SIN is not required for a basic non-interest account, but is required for any interest-earning account.
- FCAC rules require federally regulated banks to open a basic account for anyone with acceptable ID, regardless of job or credit history.
Required documents
- Two pieces of ID (one photo)
- Proof of Canadian address
- Immigration status document (newcomers)
- SIN (for interest-earning accounts only)
Common mistakes
- Delaying account opening while waiting for a SIN — a basic chequing account can be opened without one.
- Not knowing that FCAC rules guarantee access to a basic account regardless of credit history or income.