|Now that you are a resident of Canada, you'll need to open a new bank account to meet your day-to-day needs. With a bank account, you can deposit money to keep it safe and withdraw or transfer cash when needed.|
Whatever your needs may be—shopping, renting an apartment, earning income or sending money overseas—most financial transactions require that you have a bank account.
What type of bank account should you choose?
A chequing account will give you easy access to cash, any time. For most newcomers to Canada, this is the first type of account opened.
A new savings account is a good way to start putting aside money for longer-term goals or to have on hand for unexpected expenses.
How do I access my money?
When you open your new bank account, you’ll receive a bank card, debit card or client card, known at our bank as a TD Canada Trust Access Card.
You may need to write cheques to make payments (rent, telephone and Internet service, electricity, etc.)
What you’ll need to open your new bank account
When you visit a TD Canada Trust branch, you’ll need to have two pieces of identification, including at least one of the following:
- Valid photo ID: for example, a Canadian driver’s licence, a Permanent Resident card, or the Citizenship and Immigration Canada Form IMM 1000, IMM 1442 or IMM 5292
- A Social Insurance Number card issued by the Government of Canada
- An old age security card issued by the Government of Canada, bearing your Social Insurance Number
- A health insurance card from a Canadian province or territory
- A document or card, bearing your photograph and signature, issued by any of the following:
- Insurance Corporation of British Columbia
- Alberta Registries
- Saskatchewan Government Insurance
- Department of Service Nova Scotia and Municipal Relations
- Department of Transportation and Public Works of the Province of Prince Edward Island
- Service New Brunswick
- Department of Government Services and Lands of the Province of Newfoundland and Labrador
- Department of Transportation of the Northwest Territories
- Department of Community Government and Transportation of the Territory of Nunavut
Your second piece of ID can also include:
- A foreign passport
- An employee identity card, issued by a well-known employer, bearing your photograph
- A bank card, automated banking machine card or client card, issued by a member of the Canadian Payments Association, in your name and bearing your signature
- A credit card bearing your name and signature
- A Canadian National Institute for the Blind client card bearing your photograph and signature