Overview
Opening a bank account in Canada as an international student requires specific documents. You must ensure you have all the required documents prior to attending an appointment at the bank. Best practice is to call the bank or check on their website to confirm what documents you need to bring to the appointment to create a bank account. This will ensure you are set up with your banking as quickly and seamlessly as possible. Being prepared with these documents avoids delay and having to reschedule.
Soon after arriving in Canada, you should open a bank account that will be used for your daily spending and paying your bills. You will also need one if you plan on working while you study.
Canada has a variety of banks with offices and branches in most Canadian cities, as well as credit unions and international banks. The best bank for you will likely depend on your priorities, however most Canadian banks offer similar quality services. Check our recommended banks here.
In addition, nearly all major Canadian banks offer special banking packages for newcomers to Canada and to students.
You should also consider getting a credit card, which are valuable as they allow financial protection and the ability to track your spending and build credit. Credit can be important in Canada as it is a key indicator of one’s ability to make larger or recurring purchases like getting approved for a mortgage, rental agreement, post-paid phone plan, and more. Many financial institutions offer specialised cards and deals for international students and newcomers with lower incomes and shorter credit histories.
Required Documents for opening an International Student Bank Account in Canada
Each bank will have its own requirements so you should check to confirm which documents they accept - however it is commonly good practice when opening a new bank account, for international students to bring their:
- Passport (with student visa)
- Study permit
- Proof of enrolment or letter of acceptance at TWU
- Travelers’ cheques (if possible)
- Student I.D. Card (if possible)
Note: The information given above are subject to variation. Please check the respective bank’s official site for any changes.
If you still have questions related to immigration, health insurance, and life as an international student in Canada?
- Workshops and Seminars: Our workshops and seminars are conducted regularly to help international students stay informed and empowered. Link to TWU Calendar.
- Service Hub: For personalized assistance in resolving immigration-related questions, please submit your inquiries through Service Hub. Our team is here to provide specific support and help with any concerns you may have. Please note that TWU RCICs or RISIAs can only advise international students, their spouses, common-law partners, and children. We do not submit IRCC applications on behalf of international students.