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HomeGuidesHow to Open a Bank Account as a Newcomer in Toronto

Money and Payments

How to Open a Bank Account as a Newcomer in Toronto

Which Canadian banks welcome newcomers and what you need.

Action checklist

Complete these steps in order for the fastest, safest setup.

  • 1TD and RBC: both have newcomer programs with 6–12 months free banking
  • 2Bring passport + work/study permit + proof of address
  • 3SIN not required initially — but must provide within 90 days
  • 4Activate Interac e-Transfer immediately — used for rent and bill splitting

City context: Dubai

These steps are tailored for newcomers in Dubai. Costs, availability, and requirements may differ in other cities — switch the city selector above to switch context.

Read what residents say about Money and Payments in Dubai

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Community content is moderated, but verify legal and financial decisions with official sources before acting.