Yes, non-residents can open bank accounts in Canada, but the process and options depend on your residency status and which bank you choose

Non-residents — people who do not live in Canada and are not Canadian citizens or permanent residents — can open bank accounts at most Canadian banks. However, the banks you can use, the documents you need, and the account types available to you are more limited than what residents get. Some banks will not open accounts for non-residents at all, while others require you to open the account in person at a Canadian branch or through a video call with specific documentation.

The main barrier is not whether you can open an account, but which bank will accept you and what paperwork they demand. A few banks actively serve non-residents; others treat them as a special case and may ask for more proof of identity and address than they would from a resident.

Key Takeaways

  • Most major Canadian banks (RBC, TD, BMO, Scotiabank) will open accounts for non-residents, but some require you to open in person or by video call with a Canadian address or employer.
  • You will need a valid passport or travel document, proof of your foreign address, and often a Canadian phone number to complete the account opening process.
  • Online-only banks like Tangerine and EQ Bank have fewer restrictions and may be faster, but they do not offer in-person support or some services that traditional banks do.
  • If you have a Canadian employer, work permit, or family member in Canada, the process is usually simpler than if you are opening an account purely as a foreign resident.
  • Some banks will not open accounts for residents of certain countries due to regulatory restrictions, so you may need to contact the bank directly to confirm they serve your country.

Which banks accept non-residents and what they require

The Big Five Canadian banks — Royal Bank of Canada (RBC), Toronto-Dominion (TD), Bank of Montreal (BMO), Scotiabank, and CIBC — all state they can open accounts for non-residents, but each has different rules about how you open the account and what documents they need.

RBC requires you to open an account in person at a Canadian branch or by video call. You will need a valid passport, proof of your foreign address (utility bill, rental agreement, or government document), and a Canadian phone number. If you have a Canadian employer or are a student at a Canadian school, the process is faster. TD has similar requirements but may accept some accounts opened online if you have a Canadian address or employer. BMO and Scotiabank both allow non-residents to open accounts but require in-person or video verification with a passport and proof of address.

Online-only banks like Tangerine and EQ Bank often have fewer restrictions and may allow you to open accounts entirely online with a passport and foreign address. These banks do not have physical branches, so you cannot deposit cash or speak to someone in person, but they offer lower fees and faster online account opening. Tangerine is owned by Scotiabank, and EQ Bank is owned by Equitable Group; both are regulated by the same authorities as traditional banks.

Documents you will need to bring or upload

Every Canadian bank will ask for proof of identity and proof of address. For non-residents, the identity requirement is straightforward: a valid passport, travel document, or national ID card. Some banks also accept a driver's license if it is current and issued by your home country.

Proof of address is where non-residents often run into trouble. Banks need a document showing your name and your current address outside Canada. Acceptable documents usually include a utility bill (electricity, water, gas, or internet), a rental agreement or lease, a mortgage statement, a government tax document, or a bank statement from your home country. The document must be recent — usually dated within the last three months — and show your full name and address clearly.

You will also need a Canadian phone number. If you do not have one, you can get a prepaid SIM card from Rogers, Bell, or Telus before you open the account, or ask the bank whether they will accept a number you can reach by video call. Some banks will waive this requirement if you are opening the account in person at a branch.

Opening an account in person versus online or by video

Opening an account in person at a Canadian branch is the fastest and most straightforward route if you are in Canada. You walk in with your passport and proof of address, speak to an employee, and the account is usually open the same day. You can also deposit cash and ask questions face-to-face.

If you are not in Canada, most banks offer video call appointments where you show your documents to a bank employee on camera. This process usually takes 15 to 30 minutes and results in an account open within one to three business days. You book the appointment online or by phone, and the bank sends you a link to join the video call at the scheduled time. Have your passport and proof of address ready and visible during the call.

Online account opening without a video call is available at some online-only banks and occasionally at traditional banks if you have a Canadian employer or address. The process is faster — sometimes completed in minutes — but you will need to upload clear photos of your documents and may need to wait for the bank to verify them before the account is fully active.

What account types are available to non-residents

Non-residents can usually open a chequing account (called a current account in some countries) and a savings account. These are the basic accounts that let you deposit money, withdraw it, pay bills, and receive transfers. Most banks offer these to non-residents without restriction.

Investment accounts, credit cards, and loans are more complicated. Some banks will not offer credit cards to non-residents because they cannot easily verify income or credit history outside Canada. Investment accounts (RRSP, TFSA, or non-registered investment accounts) are available to non-residents in some cases, but the rules depend on your country of residence and tax treaties between Canada and your home country. If you plan to invest or borrow money, ask the bank directly whether they offer these products to non-residents from your country.

Mortgage lending to non-residents is rare and usually requires a Canadian co-signer, a Canadian employer, or a very large down payment. Most banks do not offer mortgages to non-residents without permanent residency or a work permit.

Fees and minimum balances for non-resident accounts

Most Canadian banks charge the same monthly or annual fees for non-resident accounts as they do for resident accounts. A basic chequing account at a major bank typically costs between $4 and $15 per month, depending on the bank and the account tier. Online-only banks often charge no monthly fee or a much lower fee.

Minimum balance requirements vary. Some accounts require you to keep a minimum balance (often $1,500 to $3,000) to avoid monthly fees, while others waive fees if you set up direct deposit or maintain a certain balance. Online-only banks usually have no minimum balance requirement.

International transfers into your Canadian account are usually free, but transferring money out of Canada to your home country may cost $15 to $50 per transfer, depending on the bank and the country. Some online banks offer lower international transfer fees. Ask about these costs before you open the account if you plan to move money between countries regularly.

Special cases: students, workers, and family members

If you are a non-resident student at a Canadian school, most banks will open an account for you more easily. You will need your student ID and a letter from your school confirming your enrollment. Some banks waive fees for students or offer student accounts with lower costs.

If you have a Canadian work permit or are employed by a Canadian company, the account opening process is usually faster and simpler. Bring your work permit or an employment letter from your Canadian employer. Some banks prioritize work permit holders and may waive certain requirements.

If you are a non-resident family member of a Canadian resident, some banks will open an account for you more quickly if your Canadian relative is already a customer. They may be able to refer you or help you through the process. This does not may provide approval, but it can speed things up.

What to do if a bank refuses to open an account for you

If a bank says they cannot open an account for you, the reason is usually one of three things: your country of residence is on their restricted list due to regulatory or sanctions concerns, you cannot provide acceptable proof of address, or they do not have the staff to process non-resident accounts at the moment.

If the issue is your country, try a different bank. Not all banks have the same restrictions. Online-only banks sometimes have fewer country restrictions than traditional banks. If the issue is your documents, ask the bank what they will accept and whether you can provide an alternative (for example, a government tax document instead of a utility bill).

If you have a Canadian address — even a temporary one, like a hotel or an Airbnb — some banks will treat you as a resident and the process becomes much simpler. If you are planning to move to Canada or spend significant time there, opening an account while you have a Canadian address can save you trouble later.

Frequently Asked Questions

Do I need a Canadian address to open a bank account in Canada as a non-resident?

No, but having one makes the process easier. Most banks will accept a foreign address if you provide proof of it (utility bill, lease, or government document). If you do not have a Canadian address, you can still open an account, but some banks may require a video call or in-person visit instead of allowing you to open online.

Can I open a Canadian bank account if I am not a citizen or permanent resident?

Yes. Citizenship and permanent residency are not required. You only need a valid passport or travel document and proof of your current address (which can be outside Canada). A work permit or student visa makes the process easier, but it is not required.

How long does it take to open a bank account as a non-resident?

If you open in person at a branch, the account is usually active the same day. If you open by video call, it typically takes one to three business days. Online-only banks may open an account in minutes, but verification of your documents can take up to five business days before the account is fully active.

Can I deposit cash into my Canadian bank account if I live outside Canada?

Not directly from outside Canada. If you are in Canada, you can deposit cash at an ATM or branch. If you are outside Canada, you will need to transfer money electronically from another bank account. Some banks offer cash deposit services through partner networks in other countries, but this is not standard.

Will I have to pay taxes in Canada on money in my Canadian bank account?

Not on the account itself, but if the money earns interest, you may owe tax on that interest in Canada and possibly in your home country as well. Tax rules depend on your country of residence and any tax treaties between Canada and your home country. Speak to a tax professional in your home country before opening the account if you plan to keep large amounts of money in it.