Open a Bank Account in Canada
Planning your move to Canada? Here is everything you need to know about open a bank account for digital nomads and expats in 2026.
The Canadian banking sector is an incredibly stable oligopoly (The "Big Five"), but it lacks innovation and charges high fees.
- The SIN: The Social Insurance Number is required to work or access government services. You cannot get one on a tourist/visitor visa.
- Interac e-Transfer: The Canadian equivalent of Venmo/Zelle. It is integrated into every bank app and is used to pay for everything from splitting a dinner bill to paying your landlord.
- Opening an Account: While tourists can technically open a bank account (e.g., at RBC or TD), branch managers often refuse unless you have a work or study permit.
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