Can you open a bank account online? Yes. In most cases, it’s fast and easy to open a bank account online in Canada. Whether you’re looking to open a chequing account online or set up an online savings account, you can now open a bank account online from almost anywhere in Canada.
To learn how easy it is to open a bank account online in Canada, jump to our five easy steps or choose from our list of providers below, which make bank account opening online easy.
Yes, generally speaking, all major banks and digital banks make it easy to open a Canadian bank account online. The easiest bank account to open online in Canada depends on your needs. However, in most cases, the time it takes to apply online for a bank account typically takes between 5 and 10 minutes.
Browse through the list of trusted Canadian banks below, and click the “Go to site” button to open a chequing account online or open a savings account online today.
| Provider | What we like | Monthly fee | Open account online |
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$17.95 (can be waived) | BMO Performance Chequing Account |
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Exclusive
+ Get a $175 digital Visa Card when you open a BMO Performance Chequing Account through Finder—stack with BMO's offer for a total $1,075 bonus. Become a Finder Member in seconds for free to claim your reward. Offer ends August 31, 2026. T&Cs apply.
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$16.95 (can be waived) | Scotiabank Preferred Package |
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Exclusive
+ Get a $100 digital Visa Card when you open a Scotiabank Preferred Package through Finder—stack with Scotiabank's offer for a total $1,100 bonus. Become a Finder Member in seconds for free to claim your reward. Offer ends August 17, 2026. T&Cs apply.
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$0 | Go to site EQ Bank Personal Account |
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$0 | Go to site Tangerine No-Fee Daily Chequing Account |
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$16.95 (can be waived) | RBC Signature No Limit Banking Account |
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$0 | Go to site Neo Savings Account |
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$22 | Go to site KOHO Everything Plan |
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$15.95 (can be waived) | Read Review National Bank The Connected Account |
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$17.95 (can be waived) | Read Review TD Unlimited Chequing Account |
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$16.95 (can be waived) | Read review CIBC Smart Account |
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$0 | Learn more Alterna Bank eChequing Account |
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$0 | Learn more Manulife Advantage Account |
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$9.95 | Learn more ICICI Bank Canada HiVALUE Chequing Account |
Looking for instant access to the account?
Check out our picks for the best accounts you can open online with instant access.
Yes, many banks in Canada offer the option to open a bank account entirely online without the need to go into a bank. The whole process to open a bank account online, including ID verification, can typically be completed from the comfort of your home in just a few minutes.
Banks use an online identity verification process that usually requires you to take a picture of your IDs followed by a picture of yourself. The bank’s computer system then automatically matches your face with the picture on your ID.
"If you prefer online banking over stopping by in the branch like most people these days, opening a bank account online is a great way to see how good a bank’s website is. The experience of opening a bank account online is actually easier than going in person most of the time."
Can you open a Canadian bank account online? Absolutely. Follow these steps to learn how to apply for a savings account or open a chequing account online.
The steps are the same to open a savings account online, a chequing account or a high-interest savings account. In most cases, once you open a bank account online, you’ll get instant access to the account.
Shop around to find the right bank account for you. Factor in the card type, minimum balance requirements, the type of online and mobile banking available, and any fees, including ATM withdrawal fees, monthly fees and whether the account waives fees if you maintain a minimum balance.
Click the Go to site button. A new webpage will open, sending you to the bank provider’s website and a secure online application. You’ll need to provide basic information, such as your name, date of birth, address and Social Insurance Number (SIN).
Make sure you have this information on hand before you start the application, as the webpage can time out and close if you leave it unattended for too long.
After completing the online bank account application, expect to get an email from the bank account provider with information about your new account, when to expect documentation and what happens next.
You must provide a government-issued ID before being approved for an account. Most banks will let you take a selfie along with a picture of your ID using your phone, though some banks require you to come into a bank branch to verify your identity in-person. If you’re applying for a bank account with your current bank, you may be able to skip this step as they should already have your identification on file.
If the account you signed up for includes a debit card, expect it to arrive in the mail within a few weeks along with a separate letter that includes your new Personal Identification Number (PIN). This PIN is a four to six-digit number that you must enter when using your debit card.
To change your PIN, follow your bank account provider’s instructions provided in the letter you received with the card. To activate your debit card, you may have to either activate it through your banking app or by making a purchase using your PIN.
Once you open your online bank account and your debit card is activated, it’s time to set up your bank account. For instance, use online forms to set up automatic paycheque deposits or automatic bill payments.
If you’re new to Canada or planning to relocate to Canada for either work or school, you’ll need to open a bank account. A bank account lets you deposit money, as well as manage and pay bills. Check out our full guide to the best newcomer bank accounts in Canada to find the right account for you,
To open a bank account online and get instant access to the account, you’ll simply have to complete the same online signup process for a chequing account that comes with instant access, like EQ Bank’s Personal Account and BMO’s Performance Chequing Account.
Next, follow the five-step process of opening a bank account online. You’ll need to verify your identity before getting a confirmation email and follow-up documentation. You’ll then get your debit card sent to you in the mail.
Once you open a chequing account online, you can set up online banking with the bank’s mobile app and deposit funds instantly. Check out our full guide to instant online bank accounts to learn more.
The easiest bank account to open online in Canada is offered by digital banks, as they’re designed to support fully-online experiences. Some of the easiest bank accounts to open include:
While all of the accounts in our curated list above are relatively easy to open online, as you simply have to go online or download the bank’s mobile banking app to get started. The whole process can easily take only a few minutes to complete.
Yes, in fact, the Government of Canada has mandated that every Canadian has the right to open a bank account — including chequing and savings accounts — even if you don’t have any money to deposit into the account right away. That regulation covers free online bank accounts too.
You can check our list of accounts you can open online with no deposit requirements here. Many of those accounts also don’t charge monthly fees.
The EQ Bank Personal Account, along with the Simplii No Fee Chequing Account and the Tangerine No-Fee Daily Chequing Account, are offered by online banks and come with no-fee banking. Not only are these accounts free (in that they don’t charge a monthly fee), but you can also open them online with no deposit.
You’ll have a hard time finding traditional banks with no fees in Canada. However, the big Canadian banks will often waive monthly fees if you keep a minimum balance.
Chequing accounts don’t usually come with cashback rewards. But that’s changing as more digital banks and alternative financial institutions enter the competitive Canadian marketplace of online bank accounts.
Another great option is the EQ Bank Personal Account, which pays 0.5% cashback on your purchases when you spend with the EQ Bank Card and helps you earn up to 2.75% interest on your balance.
How? Earn 2.75% interest. To receive 2.75% interest, you'll need to have at least $2,000/month of your pay directly deposited into a Personal Account or Joint Account. Conditions apply. Otherwise, you'll earn 1.00% on your balance.
Online banking lets you perform all your banking transactions over the internet. Instead of visiting your nearest branch to make a deposit, transfer money, pay off your credit card or check your savings balance, you can access your finances through any internet-enabled device. This includes desktop computers, laptops, tablets and smartphones.
Once you have an account with a bank or credit union, setting up your online bank account access takes less than 10 minutes. Just create a password and set up our authorization process. After that, it’s relatively simple to open and use your online bank account to manage your finances.
Gone are the days when you had to pay a visit to your local bank to manage your money. Both traditional and online banks offer desktop and mobile apps for spending, saving, transferring and more.
But without the overhead costs that big banks carry, digital banks and fintechs can also offer lower fees, high savings account interest rates and rewards like cashback and store discounts. For example, you could earn 2% with the KOHO Essential Plan or earn 2.35% - 2.75% with the EQ Bank Notice Savings Account.
Online financial institutions also offer simplified hybrid account options that let you spend and save with one account. For example, the EQ Bank Personal Account offers unlimited monthly transactions plus an interest rate of up to 2.75%.
How to switch banks to open a new account online
If you want lower fees, better interest rates or just a higher standard of customer service, then it might be time to switch banks.
You’ll need to provide identification documents and personal information to open a bank account online. Keep reading to learn more details.
The whole process of opening an online Canadian bank account shouldn’t take more than 10 minutes. If you’re at least 18 years old, you can apply for most bank accounts online. You’ll be provided with a checklist of things you should have with you before you apply. If you’re an existing customer of the bank, make sure you have your relevant customer ID or account number.ID is required to help banks protect you from fraud. Banks verify your ID to make sure it’s really you opening the account and not someone trying to steal your identity. For example, if someone gets your Social Insurance Number (SIN), they could try to open a line of credit or sign up for an account in your name to hide illegally obtained money.
You’ll need to provide two pieces of ID to open a bank account — one of which must include your name and address while the other must show your name and date of birth — from the following list of acceptable documents:
If you don’t have valid identification, then you’ll need to follow the steps for opening a bank account without ID.
Most accounts allow you to apply for a joint account with one or more people. If you’re applying for a joint account, all account holders must provide their personal information, including SIN and ID, address and contact information.
What are the requirements to open an account online in Canada? Generally, you’ll need to:
You may have to visit a local branch to open a bank account if you run into any of these challenges.
If you are in the process of signing up with a digital bank and run into trouble with any of the above, contact the bank’s customer service by phone for help.
If you’re thinking of opening a bank account, you’re not alone. When we surveyed Canadians in our Finder: Consumer Sentiment Survey March 2026, 17.82% of respondents said they plan to open a savings account in 2026, while 16.29% plan to open a chequing account.
Most Canadians (68.06%) would consider opening an account with a Big Bank as opposed to other options like digital banks and fintechs (40.91%). This suggests that Canada’s largest banks still hold the lion’s share of market trust, despite the rise of alternative online financial institutions.
The days of spending an hour at the bank to open an account are gone, and you can open a new chequing or savings account online from your computer or phone in minutes. But don’t let the speed and convenience rush you into deciding. Compare savings accounts or chequing accounts before getting started to find the one that’s right for you.
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