What do you need to open a bank account?

Back to learn

What do you need to open a bank account?

Rounding it up

  • From the big 5 banks to digital-first fintechs — when it comes to bank accounts, you have endless possibilities.

  • Keeping money in a bank offers many advantages, including security and easier money management.

  • Much of what is required to open a bank account revolves around identity verification. For example, you’ll most likely need to provide a Social Insurance Number (SIN).

  • While not always the case, proof of legal residency may also be required.

7 min read

Yekaterina Galanova
#bank#bank account#banking#newcomer

Yekaterina Galanova

Yekaterina Galanova enjoys writing about personal finance, as well as aesthetic topics, though she is open to discovering new niches. She enjoys reading, traveling and beautiful landscapes.

Recent Articles

Bank of Canada raises interest rates

How fast does your credit score go up in Canada?

Will personal loans impact my credit score?

Can I get a personal loan with bad credit?

What kind of loans can I get in Canada?

Should I split my money between banks?

Related articles

Should I split my money between banks?

6 mins

Gaby Pilson

Thinking of opening a second or even a third bank account? Here’s what you need to know before you make your decision.

Should I split my money between banks?

6 mins

Gaby Pilson

Thinking of opening a second or even a third bank account? Here’s what you need to know before you make your decision.

#banking

#personal finance

#canadian

logo.koho

Company

AboutCareersCultureGamerLearnPartnersTravelStatus

Connect

The KOHO Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

By using this website, you accept our Terms and Conditions. Follow these links for more information on our Privacy Policy, Accessibility Policy and Multi-Year Accessibility Plan. © 2022 KOHO Financial Inc.