Can I open a Canadian bank account from the US?
While policies vary from bank to bank, generally, all you need to provide is two forms of valid identification, such as a passport and a driver's license, together with other details, such as your full name, phone number, employer and Canadian mailing address.
Some Canadian banks do offer online account opening, but you may find it tricky to provide the required identification and residence documents. As a US citizen the easiest way to open your Canadian account is probably to choose a specialist online account provider which can accept your US identification documents.
Whether you are in Canada for studies, to work or to start a business, you can open a bank account as a non-resident in Canada. Some traditional Canadian banks also let you start the application process online, and then complete it on your arrival in Canada.
You can open a bank account either in person, by electronic means or by telephone. The bank must be able to confirm your identity through proper identification.
CIBC and its affiliates including CIBC Bank USA, US Commercial Real Estate and Real Estate Finance, and CIBC Private Wealth Management have offices strategically located across the United States to serve clients coast to coast.
- Your valid, unexpired passport.
- Your immigration papers (or permanent residency card if you have one)
- Your Social Insurance Number (SIN)
- Proof of address.
What's the easiest bank account to open online? On this list, the easiest bank accounts to open online in Canada are the EQ Bank Personal and Joint accounts and the Simplii No-Fee Chequing Account.
- Royal Bank of Canada (RBC)
- Toronto Dominion Bank (TD)
- Bank of Montreal (BMO)
- Canadian Imperial Bank of Commerce (CIBC)
While most banks require proof of a Canadian address to open an account, you may be able to get around this by filing additional paperwork, or with the assistance of a current bank customer who can confirm your identity.
Canadian banks will typically require you to be a resident of the country before considering opening an account for you. This means you'll need proof of address, identity documents, immigration documents, and a government-issued reference number to progress your bank account application.
Which American banks allow cross border banking with Canada?
CIBC, BMO, TD Bank, and RBC all offer cross-border banking solutions to allow Canadians to open a US-domiciled bank account.
- A valid and eligible passport from a country other than Canada.
- A Canadian driver's licence.
- A permanent resident card.
- A provincial or federal identification card (excluding Quebec)
- A Quebec Health Insurance Card - new version.
- A Canadian permanent resident card.
- Methodology: How we chose the best banks in Canada.
- Best bank in Canada for chequing: Scotiabank.
- Best bank in Canada for saving: EQ Bank.
- Best bank for investing: BMO.
- Best bank for mortgages: RBC.
- Best bank in Canada for loans: TD Bank.
- Best bank for small business: CIBC.
- Best for online banking: Tangerine.
- BMO Harris. BMO Harris makes it very easy for a Canadian to open a U.S. bank account. ...
- CIBC Online Banking. This is another bank that provides you with the opportunity of opening a U.S. bank account. ...
- RBC Georgia. ...
- Desjardins Florida. ...
- NatBank by National Bank. ...
- Chase. ...
- TD Bank.
RBC, TD Bank, CIBC, Scotiabank, BMO, and Tangerine all offer US bank accounts for Canadian citizens. This could be a simple option if you already bank with one of these establishments, and you don't need a US citizenship to apply. Each bank will have its own requirements when opening a US bank account from Canada.
Do banks accept foreign currency in the US? Some banks may let you exchange unspent foreign currency you bring back to the U.S., but you generally won't be able to deposit foreign money into your checking or savings account. Instead, you'll have to exchange foreign currency for dollars before making a deposit.
With more than 100 years' banking and international market experience, Scotiabank offers a wide range of expert financial services in Europe and the Middle East, including corporate loans, trade finance, and retail and commercial banking services.
There is no minimum balance for most of our bank accounts. If you're opening a TFSA or another registered savings account, there is a $25 minimum investment. For some chequing accounts, you may be eligible for a monthly fee rebate if you maintain minimum balance requirements.
Can I open a bank account in Canada without a SIN number? Yes, you are able to open a chequing account without a SIN number, as long as the account does not earn interest.
- EQ Bank. Best overall.
- Tangerine Bank. Covenience.
- Scotia Online. Reward accounts.
- HSBC Bank. Global banking.
- RBC Online. Bundles.
- BMO Online. Family bundle and newcomers.
- TD Online. Mobile app.
- CIBC Online. Seniors.
Does Canada use Zelle?
Zelle is currently not available to use in Canada as you require a US bank account to send money using the Zelle app.
| Bank/Credit Union | Forbes Advisor Rating | Minimum Deposit Requirement |
|---|---|---|
| EQ Bank Joint Account | 5.0 | $0 |
| Tangerine Bank No-Fee Daily Chequing Account | 4.5 | $0 |
| First Nations Bank of Canada Value Chequing Account | 4.3 | $0 |
| Motus Bank No-Fee Chequing Account | 4.0 | $0 |
- Scotiabank.
- Bank of Montreal (BMO)
- Canadian Imperial Bank of Commerce (CIBC)
- Royal Bank of Canada (RBC)
- HSBC Canada.
- TD Canada Trust.
- National Bank of Canada.
What you need to apply. You must be 18 years or older and live in Canada or the U.S. to open an account.
Large banks
However, larger banks such as US Bank, TD Bank, Bank of America, Chase, and Wells Fargo will allow non-residents to set up a checking account and a savings account. Instead of your SSN, they'll ask for an Individual Taxpayer Identification Number (ITIN) and other documents.
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