The short version

• You may open a personal account in Canada with proper identification if you are not a Canadian citizen.
• Banks require original ID, not copies. You may need to visit a branch in person.
• A low-cost account has a monthly fee of $4 or less. A no-cost account has no monthly fee, and newcomers may be eligible for one for their first year in Canada.
• Low-cost and no-cost accounts include at least 18 debit transactions a month.

The situation

Your first paycheque is coming. Your landlord wants rent by e-transfer. You do not have a Canadian account yet.

Opening one is the first money step in Canada, and it comes before building credit. Here is what the bank will ask for, and four steps to do it.

How banks check who you are

The Financial Consumer Agency of Canada (FCAC) says banks must verify your identity. There are two ways.

1. Two documents. One shows your name and address. One shows your name and date of birth. The FCAC list includes government-issued ID, recent Canadian utility bills, recent bank or credit card statements, and foreign passports.
2. One document plus a person. One document with your name and date of birth, and someone who confirms your identity: a bank customer in good standing, or a person of good standing in your community.

You must provide original identification, not copies. Banks may accept other types of ID in some circumstances, so ask before you go.

Where people commonly go wrong

1. Bringing copies. Originals only.
2. Not asking for the no-cost account. FCAC says newcomers are eligible for no-cost accounts for the first year in Canada. Ask for it by name. FCAC does not say what proof you need, so ask the bank.
3. Assuming online banks are easier. IRCC says banks that operate only online may require that you already have an account at another institution.
4. Skipping the fee comparison. FCAC has an Account Comparison Tool.

What to do: four steps

1. Gather original ID. Passport plus a document showing your address, or one ID plus a person who can confirm your identity. Check the FCAC list before you go.
2. Compare accounts. Use the FCAC Account Comparison Tool. Low-cost: $4 a month or less, with no minimum balance allowed. No-cost: no monthly fee.
3. Ask for the newcomer no-cost account. Tell the bank you are new to Canada. Ask what proof it needs, and which of the 18 or more monthly debit transactions are included.
4. If a bank says no, ask for the written notice. FCAC says a bank that refuses to open an account must give you written notice. It must include the bank’s complaint process and how to contact FCAC.

Where to check

• Opening a bank account (FCAC)
• Opening a low-cost or no-cost bank account (FCAC)
• Banking (IRCC)

The bottom line

Bring original ID, compare fees, ask for the no-cost account newcomers may be eligible for in year one, and know that a refusal must come in writing. Once the account is open, the next step is building your Canadian credit.

General information, not advice. Rules and fees can change. Review the official pages before you make a decision.

Sources: Financial Consumer Agency of Canada on Canada.ca: Opening a bank account (page details 2026-10-29); Opening a low-cost or no-cost bank account (2026-10-29). IRCC on Canada.ca: Banking (2025-02-06). Checked 2026-11-11.

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