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What are the requirements to open a bank account?

Have your information handy to make the application process run smoothly.

Requirements for opening a bank account in Canada vary from bank to bank, but you’ll generally need to provide your personal information and verify your identity. Learn more in our guide below about the documents you need to open a bank account.

Eligibility criteria

Before you apply for a bank account, you’ll need to make sure that you meet any eligibility criteria that apply. These criteria vary depending on the type of account you would like to open as well as the bank or provider, but usually include:

  • Age requirements. You’ll need to be at least 18 years of age to open an account by yourself, although parents or legal guardians can open bank accounts for their kids. Different age limits can apply to special accounts, such as a kids or seniors account.
  • Residency requirements. You’ll typically need to be a Canadian resident to open an account, but in some cases it is possible to open an account from overseas. Here’s how you can open a bank account in Canada without proof of address.

Other criteria may apply, so check the terms and conditions before beginning an application.

Requirements for bank accounts you can open online in Canada today

View the basic eligibility requirements for popular chequing and savings accounts in the table below.

BankEligibility requirementsCan open an account online?Popular account option

  • Canadian citizen or resident and live outside of Quebec
  • At least 18 years of age, or the age of the majority in your province or territory
  • Be opening a sole account in your name
Bank account opening online check markNeo Money AccountGo to site

  • Canadian resident with a valid Social Insurance Number
  • At least 18 years of age, or the age of the majority in your province or territory
Bank account opening online check markSimplii No Fee Chequing AccountGo to site

  • Canadian citizen or permanent resident with a valid Social Insurance Number
  • At least 18 years of age, or the age of the majority in your province or territory
  • Be opening a sole account in your name
Bank account opening online check markBMO Performance Chequing AccountGo to site
Coast Capital logo
  • Canadian citizen or permanent resident residing in British Columbia
  • At least 18 years of age, or the age of the majority in your province or territory
  • Be opening a sole account in your name
Bank account opening online check markCoast Capital Free Chequing, Free Debit, and More AccountGo to site
EQ Bank logo, small

  • Canadian resident and must live outside of Quebec
  • At least 18 years of age, or the age of the majority in your province or territory
Bank account opening online check markEQ Bank Savings Plus AccountGo to site
RBC Bank logo

  • Canadian citizen or permanent resident (Or you can be a non-resident living in Canada or planning to move to Canada)
  • At least 18 years of age, or the age of the majority in your province or territory
Bank account opening online check markRBC Signature No Limit Banking AccountGo to site
National Bank logo

  • Canadian resident
  • At least 14 years of age
Bank account opening online check markNational Bank Connected AccountGo to site
KOHO logo
  • Canadian resident
  • At least 18 years of age, or the age of the majority in your province or territory
Bank account opening online check markKOHO SaveGo to site
Tangerine bank logo, icon only

  • Canadian resident with a valid Social Insurance Number (SIN)
  • At least 16 years of age
Bank account opening online check markTangerine GICGo to site
Scotiabank logo
  • Canadian resident
  • At least 18 years of age, or the age of the majority in your province or territory
Bank account opening online check markScotiabank Preferred Package

Read Review

TD Canada Trust bank logo

  • Canadian resident
  • At least 18 years of age, or the age of the majority in your province or territory
Bank account opening online check markTD Unlimited Chequing Account

Read Review

CIBC logo

  • Canadian resident
  • At least 18 years of age, or the age of the majority in your province or territory
Bank account opening online check markCIBC Smart Account

Learn more

HSBC logo symbol, small

  • Canadian resident with a valid Social Insurance Number (SIN)
  • At least 16 years of age
Bank account opening online check markHSBC Premier Chequing Account

Read Review

What information do I need to open a bank account?

If you’re an existing customer with a bank, they’ll have your personal information on file and you likely won’t need to supply any extra details unless you’re setting up a business or kids account. However, if you’ve never held an account with that particular bank before, you’ll need to provide:

  • Personal details. This can include your gender, full name, date of birth and residential address.
  • Contact details. The bank will require your phone number and email address.
  • Acceptable identification

    The government of Canada set out the following lists as to what qualifies as acceptable personal identification. If you’re opening a joint account, you’ll need to provide the following information for all account holders. You can also learn here how to open a bank account with no photo ID.

    You’ll need two pieces of ID, either both from list A or one from list A and one from list B:

    List A:

    • valid Canadian driver’s licence (as permitted by provincial law)
    • current Canadian passport
    • birth certificate issued in Canada
    • Social Insurance Number (SIN) card issued by the Government of Canada
    • Old Age Security card issued by the Government of Canada
    • Certificate of Indian Status
    • provincial or territorial health insurance card that can be used as ID under provincial or territorial law
    • Certificate of Canadian Citizenship or Certification of Naturalization
    • Permanent Resident card or an Immigration, Refugees and Citizenship Canada (IRCC) form IMM 1000, IMM 1442, or IMM 5292

    List B:

    • employee ID card with your picture on it that has been issued by an employer well known in your area
    • debit card or bank card with your name and signature on it
    • Canadian credit card with your name and signature on it
    • client card from the Canadian National Institute for the Blind with your picture and signature on it
      current foreign passport
    • have someone in good standing with the financial institution or in the community confirm your identity

    Additional information

    Depending on the type of account you open, there may also be circumstances where you need to supply some additional information. These include:

    • Kids bank accounts. If you’re opening a bank account for a child or a teen bank account, you’ll need to provide their birth certificate.
    • Student accounts. If you’re applying for a student bank account, you may need to provide a student ID, .edu email address or proof of enrollment at your school.
    • Overseas accounts. If you’re currently based overseas and are about to move to Canada and need to open a newcomer’s bank account, you may need to provide passport and visa details, as well as your expected arrival date and city.
    • Linked accounts. If you’re opening a linked account, you’ll need your current account number. Some banks require you to have a linked checking account when you open a high-interest savings account.

    What if I’m opening a business bank account?

    Application requirements are a little different if you’re applying to open a business bank account. In addition to your name, contact details and proof of ID, you may also need to supply:

    • Details of how your business is structured. This includes the formation documents for your business.
    • Your employer identification number. If you’re a sole proprietor, you can also use your Social Insurance Number (SIN).
    • Your business license. Your bank will require the full address and contact details of your business or company.
    • Ownership agreements. If you’re not a sole proprietor, you’ll need to include information about any other owners.

    How to apply for a bank account

    There are several ways to apply for a bank account. You can:

    • Apply online. You can open an account online by filling out an application on the bank’s website or, if you’re already a customer with the bank, through your online banking account. You can compare both savings and chequings accounts below.
    • Apply on the app. Many banks allow you to apply for a new account by following the prompts through their mobile app.
    • Apply by phone. Some banks will let you open a new account over the phone. You may be required to verify your identity online, by mail or in person.
    • Apply in person. You can visit your nearest bank branch to apply for an account in person.
    1 - 14 of 14
    Name Product Monthly Account Fee Free Transactions e-Transfer Fee Bonus Offer Offer
    Simplii No Fee Chequing Account
    Simplii No Fee Chequing Account
    $0
    unlimited
    $0
    Earn $400
    Earn $400 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends June 30, 2023.
    BMO Performance Chequing Account
    BMO Performance Chequing Account
    $16.95 (can be waived)
    unlimited
    $0
    Earn $400
    Earn $350. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until July 3, 2023. Plus, earn a 4% bonus interest rate when you add a Savings Amplifier Account.
    Coast Capital Free Chequing, Free Debit, and More Account
    Coast Capital Free Chequing, Free Debit, and More Account
    $0
    unlimited
    $1.50
    Earn $400
    Earn $400 when you become a new client. Plus, pay no monthly fees. Offer ends June 30, 2023.
    National Bank Modest Chequing Account
    National Bank Modest Chequing Account
    $10.95 (can be waived)
    30/month
    $0
    N/A
    RBC Signature No Limit Banking Account
    RBC Signature No Limit Banking Account
    $16.95 (can be waived)
    unlimited
    $0
    Get an iPad Pro
    Switch to an RBC Signature No Limit Banking Account and complete the criteria to receive an iPad Pro. Valid until July 31, 2023.
    National Bank Connected Account
    National Bank Connected Account
    $15.95 (can be waived)
    unlimited
    $0
    N/A
    RBC VIP Banking Account
    RBC VIP Banking Account
    $30 (can be waived)
    unlimited
    $0
    Get an iPad Pro
    Switch to an RBC VIP Banking Account and complete the criteria to receive an iPad Pro. Valid until July 31, 2023.
    BMO Premium Plan Chequing Account
    BMO Premium Plan Chequing Account
    $30 (can be waived)
    unlimited
    $0
    Earn $400
    Earn $350 with a Premium Chequing Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until July 3, 2023. Plus, earn a 4% bonus interest rate when you add a Savings Amplifier Account.
    BMO Performance Student Chequing Account
    BMO Performance Student Chequing Account
    $16.95 (can be waived)
    unlimited
    $0
    Earn $100
    Earn a $100 cash bonus and enjoy no monthly fees while in school and one year after you graduate. Valid until May 31, 2023.
    National Bank The Minimalist Chequing Account
    National Bank The Minimalist Chequing Account
    $3.95 (can be waived)
    12/month
    $0
    N/A
    BMO New to Canada Performance Chequing Account
    BMO New to Canada Performance Chequing Account
    $16.95 (can be waived)
    unlimited
    $0
    N/A
    National Bank The Total Chequing Account
    National Bank The Total Chequing Account
    $28.95 (can be waived)
    unlimited
    $0
    N/A
    National Bank Newcomer Bank Account
    National Bank Newcomer Bank Account
    $0
    unlimited
    $0
    N/A
    BMO Canadian Defence Community Banking Performance Plan Chequing Account
    BMO Canadian Defence Community Banking Performance Plan Chequing Account
    $0
    unlimited
    $0
    N/A
    loading
    1 - 5 of 5
    Name Product Promo Rate Regular Interest Rate Monthly Account Fee Transaction Fee e-Transfer Fee Offer
    EQ Bank Savings Plus Account
    EQ Bank Savings Plus Account
    N/A
    2.50%
    $0
    $0
    $0
    Simplii High Interest Savings Account
    Simplii High Interest Savings Account
    5.25% for 5 months
    0.40%
    $0
    $0
    $0
    Neo Money Account
    Neo Money Account
    N/A
    2.25%
    $0
    $0
    $0
    Earn 2.25% interest on your balance + get up to 15% cashback on first-time purchases with your Neo Money card.
    KOHO Save
    KOHO Save
    N/A
    2.00%
    $0
    $0
    $0
    Use promo code FINDERCODE and get a $20 cash bonus when you make your first purchase within 30 days.
    National Bank High Interest Savings Account
    National Bank High Interest Savings Account
    N/A
    1.50%
    $0
    $0
    $0
    loading

    Bottom line

    Opening a new bank account is a relatively simple process, but it’s a good idea to have all your personal documents handy to make sure the process runs smoothly. And to get the best bank account for your needs, compare savings accounts and chequing accounts before getting started.

    Frequently asked questions

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