How to Open a Bank Account as a Newcomer in Canada 2025

Opening a bank account is one of the first things to do when you arrive in Canada. This step-by-step guide walks you through exactly how to do it — what documents you need, where to go, and what to expect.

Step 1: Gather Your Documents

Canadian banks require two forms of identification for account opening. As a newcomer, you'll typically use:

• Primary ID: Your passport (most accepted)
• Secondary ID: Your immigration document — Permanent Resident card, work permit, study permit, Confirmation of Permanent Residence (COPR), or refugee protection document
• Proof of address: A utility bill, lease agreement, or employer letter showing your Canadian address
• SIN: Your Social Insurance Number (or proof you've applied)

Step 2: Choose Your Bank

All Big 6 banks — TD, RBC, Scotiabank, BMO, CIBC, and National Bank — have newcomer programs that waive fees for the first 12 months and don't require a Canadian credit history. Here's how to choose:

• Branch proximity: Find the bank with the nearest branch to your home or workplace
• Language support: RBC and Scotiabank have extensive multilingual staff. BMO has strong Mandarin support in many cities
• Online banking: All Big 6 have solid apps, but TD and RBC are frequently rated highest
• Newcomer credit card: Scotiabank StartRight includes a Visa card with no credit history requirement

Step 3: Visit the Branch (or Open Online)

Most newcomer programs require an in-person branch visit to verify your identity. Book an appointment online before you go — walk-ins are possible but wait times can be long, especially in major cities.

During your appointment, a banking advisor will:

1. Verify your identity and immigration status
2. Set up your chequing and savings accounts
3. Issue your debit card (often on the spot)
4. Set up online banking access
5. Discuss newcomer credit card options

Online Alternative: Open KOHO in Minutes

If you need a Canadian bank account the same day you arrive — or don't want to visit a branch — KOHO is the easiest option. KOHO is a digital financial account with a prepaid Visa card. You can apply 100% online in under 5 minutes, with no credit check and no branch visit required.

Many newcomers use KOHO immediately upon arrival for day-to-day spending, while simultaneously setting up a Big 6 account for payroll and longer-term banking.

Account Types to Open

After Opening Your Account

• Download the bank's mobile app immediately
• Set up Interac e-Transfer (Canada's standard way to send money)
• Provide your direct deposit information to your employer
• Apply for a newcomer credit card to start building your Canadian credit history
• Set up bill payments for rent, utilities, and phone

Common Questions

Do I need to be in Canada to open a bank account?

Most Big 6 banks require you to be physically present in Canada for newcomer account opening. However, some — like TD — allow pre-arrival applications for select newcomer packages. KOHO can be opened from anywhere with internet access.

How long does it take to open an account?

In-branch: 30–60 minutes. Online (KOHO): 5–10 minutes with instant card issuance.

Is there a minimum deposit required?

Most Big 6 newcomer accounts have no minimum deposit requirement. KOHO requires no minimum balance.