What you need before you walk in

Most banks will open a chequing account for you in one visit if you bring two pieces of identification, proof of your current address, and your Social Insurance Number (SIN). One ID must be a government-issued photo ID — a driver's license, passport, or provincial ID card. The second can be a utility bill, lease, or bank statement showing your name and address. You do not need to have money in the account to open it, though some banks offer better rates or waive fees if you maintain a minimum balance.

If you do not have a SIN yet, you can still open an account at most banks, but the process takes longer because the bank has to file additional paperwork with the Canada Revenue Agency. Ask the bank whether they can open the account while you wait for your SIN or whether you need to come back once you have it.

Some banks let you start the process online before you visit a branch. You fill in your personal information and choose your account type, then book an appointment or walk in to complete the identity check. This can save time on the day you go in, especially if the branch is busy.

Key Takeaways

  • Bring a government photo ID, a second piece of ID with your address, and your SIN to open an account in one visit.
  • You do not need an opening deposit, though some accounts waive monthly fees only if you keep a minimum balance.
  • The whole process usually takes 15 to 30 minutes once you are with a representative, and you can start using the account the same day.
  • Different banks charge different monthly fees and offer different features, so compare what each one includes before you choose.
  • If you do not have a SIN, the bank can still open an account but will need to file extra paperwork, which adds a few days to the process.

Comparing what different banks charge

Monthly fees for chequing accounts range from zero to around $15, depending on the bank and the account type. Some banks charge nothing if you keep a minimum balance — often $1,500 to $3,000 — or if you set up direct deposit. Others charge a flat monthly fee regardless. A few banks offer no-fee accounts with no minimum balance requirement, though these accounts may have limits on how many cheques you can write or how many transactions you can make per month.

Beyond the monthly fee, compare what is included: how many cheques come free with the account, whether the bank charges per cheque after that, what they charge for wire transfers, and whether they charge to replace a lost debit card. Some banks charge $1 to $2 per cheque you write; others include 50 or 100 cheques per year. If you write cheques regularly, this difference adds up.

Most banks now offer online banking and a debit card at no extra cost. Some offer a small amount of overdraft protection — usually $100 to $500 — if you accidentally spend more than you have. Ask whether overdraft protection is automatic or whether you have to request it, and what interest rate they charge if you use it.

What happens on the day you open the account

When you arrive at the branch, a representative will ask you to confirm your personal information: your full legal name, date of birth, current address, phone number, and SIN. They will check your ID against this information. This usually takes five to ten minutes.

Next, they will ask you which type of chequing account you want. Tell them whether you write cheques regularly, whether you want overdraft protection, and whether you plan to set up direct deposit. They will explain the fees and features of each account type the bank offers and help you choose one that fits your needs.

Once you have chosen, they will set up your account, assign you an account number, and order your debit card and cheques. Your debit card usually arrives in five to ten business days; cheques take one to two weeks. You can use your account and withdraw cash with your temporary debit card or at the teller the same day, even if your permanent card has not arrived yet.

Before you leave, ask the representative to show you how to set up online banking on your phone or computer. Most banks let you do this when ready after opening the account, and it takes just a few minutes. You will need to create a username and password and set up security questions.

Opening an account without visiting a branch

Some online-only banks let you open a chequing account entirely through their website or app. You upload photos of your ID and proof of address, answer security questions, and verify your identity through a video call with a representative. The whole process takes 10 to 20 minutes, and your account is usually active within one business day.

Online banks typically charge lower monthly fees — often zero — because they do not have the cost of running physical branches. However, you cannot deposit cash at an online bank, and you cannot speak to someone in person if you have a problem. Some online banks partner with convenience stores or other banks to let you deposit cash, but this is not available everywhere.

If you choose an online bank, make sure it is a member of the Canada Deposit Insurance Corporation (CDIC). This means your money is protected up to $100,000 if the bank fails. You can check the CDIC website to see which banks are members.

Setting up direct deposit and other features

Direct deposit is when your employer or the government sends money straight into your account instead of giving you a cheque. To set it up, you give your employer or the government agency your account number and the bank's routing number. You can find both on a blank cheque or in your online banking portal. Direct deposit usually takes one to two pay periods to start, so set it up as soon as you open the account if you want it in place before your next payday.

Many banks waive monthly fees if you have direct deposit, even if the amount is small. Some also offer a small cash bonus — usually $25 to $100 — if you set up direct deposit within a certain time after opening the account. Ask the representative whether your bank offers this.

You can also set up automatic bill payments through your chequing account. The bank will send money from your account to a company or person on a date you choose each month. This is useful for rent, utilities, or loan payments that stay the same amount each month. You can change or cancel an automatic payment anytime through online banking.

What to do if you are under 18

Most banks will open a youth chequing account for someone under 18, but a parent or guardian has to be present and sign the paperwork. The parent does not have to be a customer of the bank. You will still need to bring your own ID and SIN.

Youth accounts usually have lower or no monthly fees, and some banks waive fees until you turn 21 or 25. The parent can see the account activity if they want to, but this depends on the bank's rules and what the parent and young person agree to. Ask the representative what the privacy settings are before you open the account.

Frequently Asked Questions

Can I open a chequing account if I do not have a permanent address?

Most banks require proof of a current address, but some will accept a letter from a shelter, transitional housing program, or social service agency that confirms you live there. Call the bank before you visit to ask what documents they will accept. Some banks may also accept a utility bill in someone else's name if you can show you live at that address.

What if I have had problems with a bank before?

Banks check a system called ChexSystems, which records accounts that were closed due to fraud, unpaid overdrafts, or repeated bounced cheques. If you are on this list, some banks will refuse to open an account. Other banks are more lenient. Call ahead and ask whether the bank will open an account for you given your history. Some banks specialize in second-chance accounts and may charge higher fees.

Do I need a minimum deposit to open the account?

No. You can open a chequing account with zero dollars. However, some accounts waive monthly fees only if you keep a minimum balance, so read the fee schedule carefully. If you cannot maintain a minimum balance, choose an account with no monthly fee instead.

How long does it take to get my debit card and cheques?

Your debit card usually arrives in five to ten business days. Cheques take one to two weeks. You can use your account the same day you open it by withdrawing cash at the teller or using a temporary debit card the bank gives you. If you need cheques urgently, some banks can print them in-branch, though this usually costs extra.

Can I open more than one chequing account?

Yes. You can open multiple chequing accounts at the same bank or at different banks. Some people open one account for bills and another for savings, or one account at a traditional bank and another at an online bank. Each account is separate, so you manage them independently.