How do I open a bank account in Canada for newcomers?

If you have not yet arrived in Canada, you can apply for a bank account online at most major Canadian banks. At BMO, you can apply through our online application portal to apply for a bank account online quickly and securely. If you don’t have a SIN or a Canadian address, most banks recommend booking an appointment to set up your bank account in person. Book an appointment online at your nearest BMO branch to get started.

Can I open a bank account without going to a bank in Canada?

Yes, some banks allow you open a bank account online instead of in person at the bank depending on your status as a newcomer. At BMO, we offer the BMO NewStart® Program, which makes it easy for newcomers to open a bank account online. Apply through BMO’s online application portal before you arrive in Canada. If you’ve already arrived in Canada, apply online with your Social Insurance Number (SIN), and a Canadian address using BMO's online application tool .

Is a SIN number required to open a bank account in Canada?

At BMO, if you have not yet arrived in Canada and are opening a bank account online, you do not need to provide a Social Insurance Number (SIN) number to complete the online application . If you have arrived in Canada and would like to open your bank account online, you will need to provide your SIN number and a Canadian address as part of the online application . If you would prefer to open your bank account at a BMO branch in person, you don’t need to provide your SIN number as part of the application. Book an appointment online to apply in person at a BMO branch.

How much money do I need to open a bank account in Canada?

If you have not yet arrived in Canada and you are opening a BMO Chequing account, there is no minimum amount of money required for you to open the account. However, you have the option of transferring up to $75,000 CAD into your BMO account to help you get started in Canada. If you are opening a student Guaranteed Investment Certificate (GIC) in addition to a bank account, you will need to transfer a minimum amount of $10,200 CAD into your new bank account. This will cover the cost of the GIC ($10,000 CAD), plus all applicable fees. Learn more about international student GICs.

New to Canada: Banking & Bank Accounts for Newcomers

Skip navigation

Search box

Country Selector

CAYou're on B M O Canada website

Canada

US

Site Selector

Personal

Personal
Business
Private Wealth
Commercial
Capital Markets
Global Asset Management
About BMO

Language Selector

ENEnglish

English
English
Français
Français
简体中文
繁體中文

Resources
Resources
Resources
Resources
Resources
- - Travel Insurance Overview
  - Travel Insurance Plans
Resources
Resources

Support

Branches

Appointment