Open a Canadian Bank Account Before You Arrive (2026)

Key takeaways

RBC: online from 9 countries including India, China and the Philippines; up to 3 wires and $75,000 in CAD; activate within 12 months
BMO: online from qualifying countries; send up to $75,000 before you move
CIBC Smart Arrival: one wire into a temporary account; finish in a branch within 12 months
TD: by phone from China or India only; visit a branch within 75 days
National Bank: apply up to 90 days before arrival; one wire allowed

Why open an account before you arrive?

Your money is waiting in Canada when you land, so you do not carry large amounts of cash.
You can show a Canadian account and balance when you look for housing.
Your branch appointment can be booked for your first week.
Some banks give you a credit card and newcomer package at activation.

It is optional. You can also open an account in a branch in your first days in Canada with your passport and status document. See the banking guide for what to bring.

Which banks let you open an account from abroad?

Bank	Who and where	Money you can send	Activation deadline
RBC	PR, workers, students and property owners from Hong Kong, China, India, the Philippines, Vietnam, Antigua and Barbuda, Costa Rica, St Vincent and the Grenadines, and Trinidad and Tobago. Age 13+ (14+ in Quebec); arriving within 12 months	Up to 3 wire transfers, up to $75,000 in total, in Canadian dollars only	Visit a branch within 12 months of opening
BMO	Residents of qualifying countries through the NewStart program; students can open an account and a student GIC in one application	Up to $75,000 before you move	Visit a branch after arrival (ask BMO for the deadline)
CIBC Smart Arrival	PR (5 years or less), workers with a 12-month+ permit, and students, from eligible countries, arriving within 12 months. Needs your UCI number	One wire from an account in your own name into a temporary, no-fee account	Within 12 months, or the account closes and funds are wired back
TD	Applicants in China or India, by calling TD collect	Ask TD	Visit a branch within 75 days of set-up
National Bank	Newcomers arriving in less than 90 days	One wire transfer before arrival	Complete after arrival
Scotiabank	Its newcomer page did not show a general pre-arrival account on October 5, 2026	–	–

Sources: each bank’s pre-arrival or newcomer page, checked October 5, 2026. TD’s collect numbers are 1-855-537-5355 from China and 416-351-0613 from India.

Step by step: opening an account from abroad

Check your country and status. Each bank lists eligible countries. If yours is not listed, you open in a branch after you land.
Gather documents. A valid passport and one immigration document: COPR, work permit or study permit approval. CIBC also asks for your Unique Client Identifier (UCI) from IRCC. You do not need a SIN yet.
Apply online. RBC says it takes 10 to 15 minutes with documents ready.
Send money by wire. Send from an account in your own name. Follow the bank’s limits: RBC accepts only Canadian dollars, up to 3 wires. CIBC and National Bank allow one wire.
Book your branch visit. RBC books the appointment for 1 to 5 business days after your arrival date.
Activate in Canada. Bring the same documents. Until you do, you can usually receive money but not spend it.

What if your country is not on the list?

You can still open an account in your first days in Canada. Book an appointment online before you fly, so a branch is ready for you in your first week. Bring your passport, your COPR or permit, and your Canadian address (a temporary one is fine). Until then, keep enough money on a card from home, or in a multi-currency account, to cover your first weeks.

If you need to move a large amount, you can open the account first and then send the money from home to your new Canadian account number. Our landing checklist puts the bank visit in the right order with your SIN and phone plan.

Fees and exchange rates

Opening the account is free, and the newcomer fee waiver usually starts when you activate in Canada. But moving the money is not free:

Your bank at home may charge a wire fee.
The Canadian bank may charge an incoming wire fee.
The exchange rate is where most of the cost hides. If the receiving bank converts your money, or if (as at RBC) you must send Canadian dollars, compare the rate you get with the mid-market rate.

Compare the full cost in the best way to bring money to Canada and bringing money to Canada. Coming from India? See moving money from India.

International students: account and GIC

Many international students open a Guaranteed Investment Certificate (GIC) before arriving, to show proof of funds for a study permit. RBC, BMO and Scotiabank run student GIC programs alongside their accounts, and BMO lets you open the account and the student GIC in a single online application. Read the current proof-of-funds amount in study permit proof of funds.

Stay safe and follow the rules

Use only the bank’s own website or app. Scammers create fake “Canadian bank” pages and ask for fees. A real bank never asks you to pay to open an account.
Declare $10,000 or more. If you carry cash or cheques worth CAD 10,000 or more when you enter Canada, you must declare it. Money you wire is not declared at the border. See declaring money at the border.
Keep records of where the money came from (bank statements, sale documents). Banks must ask about large transfers under anti-money-laundering rules.
Mind the deadline. If you do not activate in time (75 days at TD, 12 months at RBC and CIBC), the account can be closed and your money sent back, minus fees.

Not sure which bank to choose? Compare best bank accounts for newcomers.

How we handle offers. Offers on this page come from each bank’s own website and were last checked on October 5, 2026. Banks change offers often, so confirm the details on the bank’s site before you apply. No bank pays to be included or ranked here. If a link on this page ever earns us a commission, we will label it next to the link.

Common questions

Can I open a Canadian bank account from India?

Yes. RBC accepts online applications from India, TD by phone (call collect 416-351-0613), and BMO and CIBC accept applications from qualifying countries. You activate the account in a branch after you arrive.

How much money can I send before I arrive?

At RBC, up to $75,000 in Canadian dollars in up to 3 wires. BMO says up to $75,000. CIBC and National Bank allow a single wire. Check the current limit when you apply.

Can I use the account before I land?

Usually you can receive money but not spend it. You get full access after you visit a branch in Canada with your passport and status document.

What happens if I do not activate the account in time?

The bank can close it. CIBC returns the funds by wire if you do not complete Smart Arrival within 12 months. TD requires a branch visit within 75 days of set-up.

Do I need a SIN to open an account before I arrive?

No. You get your SIN after you arrive. BMO says you do not need one for its online pre-arrival application.

Sources

Checked against these sources on October 5, 2026. Spotted something out of date? Tell us.

How to open a Canadian bank account before you arrive