Opening a Canadian bank account before or upon moving north can cut fees, speed up paycheques and build credit in a new country. US residents often face extra checks under anti-money-laundering laws and tax-reporting rules. Banks ask for reliable ID and sometimes immigration papers or proof of a future move. Gathering the right documents ahead of time makes the process smooth and stress-free.
For a full overview of cross-border banking requirements explained, see our dedicated guide.
Regulatory Requirements for Identity Verification
Financial institutions in Canada follow the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and guidance from the Financial Consumer Agency of Canada. That framework lets banks use either of two routes to verify identity:
Provide two documents from a reliable source: one document indicating your name and address; the other document indicating your name and date of birth. Financial Consumer Agency of Canada
US persons must also satisfy international tax-reporting regimes:
- FATCA (Foreign Account Tax Compliance Act) requires Canadian banks to identify US taxpayers and report their account data through the Canada Revenue Agency to the IRS.
- CRS (Common Reporting Standard guidance) obliges banks to collect foreign-tax-residency attestations and share non-resident account details with Canadian authorities for exchange with partner countries.
Core Documentation Categories
Proof of Identity
Banks accept government-issued photo ID showing name and likeness. Common options:
- Valid, unexpired passport
- State or federal driver’s license or ID card
- Other foreign government-issued ID with photo
If you’re not a Canadian citizen, while the process is similar, you’ll need the following documents in order to open a bank account:
- Your valid, unexpired passport
- Your permanent residency card or immigration papers
Proof of Address
One document that shows your name plus a Canadian or US address, dated within the last three months:
- Utility or phone bill
- Bank or credit-card statement
- Lease or mortgage agreement
- Government correspondence
Immigration or Residency Status
Non-citizens must show papers that match their planned status in Canada:
- Work permit (IMM 1442), study permit or visitor record
- Confirmation of Permanent Residence (IMM 5292 or IMM 5688)
- Permanent Resident Card
- Refugee claimant documents (IMM 585 or IMM 5565)
Social Insurance Number (SIN) or Tax ID
Accounts that earn interest trigger reporting under Canada’s Income Tax Act. If you lack a SIN, you can open a non-interest-bearing account first and upgrade once your SIN arrives.
Typically, banks will require the following information and documents:
- Your immigration papers (or permanent residency card if you have one)
- Your valid passport and/or driver’s license
- Proof of address
- Your Social Insurance Number (SIN)
Major Banks and Newcomer Programs
CIBC Smart Arrival
Here’s how to qualify for an account:
- You’re arriving in Canada in the next 12 months from an eligible country
- You have a valid passport and a unique client identifier (UCI) issued by the Government of Canada
- You’ve reached the age of majority in your arrival province or territory
BMO Pre-Arrival Banking
To open a chequing account online, you’ll need to be:
- Coming to Canada as a permanent resident, foreign worker or international student
- 14 years of age or older
- Opening an account for yourself, not a friend or family member
Scotiabank StartRight®
What documents do I need to bring?
- Passport
- Permanent Resident card
- Citizenship and Immigration Canada Form (IMM 1000, IMM 1442, IMM 5688 or IMM 2592)
- If you’re an international student, proof of enrolment from your Canadian educational institution
TD New to Canada
Bring one of these documents:
- Permanent Resident card
- Confirmation of permanent residence (e.g., IMM 5292)
- Temporary permit (e.g., IMM 1442, 1208, 1102)
And bring two of these:
- Valid passport
- Canadian driver’s licence
- Government of Canada ID card
RBC Newcomers to Canada
Must show proof of entry into Canada and provide supporting documents such as landing papers or permanent resident card. RBC Newcomers to Canada
Step-by-Step Application Process
- Compare accounts. Note monthly fees, transaction limits and cross-border features.
- Gather originals. No photocopies allowed. Double-check expiry dates.
- Apply. Use online portals or US-based branches where available (e.g., HSBC or Scotiabank US).
- Verify. Video-call or in-branch checks will confirm your identity and papers.
- Fund. Wire or transfer your opening deposit in CAD or USD.
- Activate. Set up online banking and order your debit card.
Common Pitfalls and Tips
- Don’t mix photocopies and originals.
- If you lack address proof, ask a close friend or employer for a reference letter.
- Translate non-English documents with a certified translator.
- Keep a digital backup of all documents for online uploads.
- Track expiry dates on permits; banks may drop accounts if status lapses.
- Plan for FATCA and CRS: US persons will fill W-9 or W-8BEN forms and declare foreign accounts.
Opening a Canadian account from the US takes planning, but banks bend over backwards for newcomers armed with the right papers. Gather your passport, proof of address, SIN and any immigration permits, then pick the bank program that fits your timeline. With those documents in hand, you’ll be ready to tap into Canada’s stable, customer-centric banking system from day one.