Open a Chequing Account in Canada (Newcomer)

Researched from official sources · May 9, 2026

Canada's three biggest retail banks each waive the chequing account monthly fee for newcomers' first 12 months.

Eligibility windows and application channels differ across RBC Royal Bank, TD Canada Trust, and Scotiabank. Compare the three procedural shapes before walking into a branch.

Estimated time

Same-day in branch (30-60 minutes once seated); 5-10 minutes online for application form

Cost

C$0 (newcomer-program waiver, first 12 months) — standard fees C$12.95-C$17.95/month

What You Need

Tap to check off items as you gather them

Additional Items

  • Social Insurance Number (SIN), if already issued — not required to open an account under the federal Access to Basic Banking Services Regulations, but every bank requests it for tax-information reporting (CRA T5 interest reporting, FATCA/CRS for non-residents)
  • Foreign credit report (Scotiabank applicants only) — Nova Credit can import credit history from the United States, India, the United Kingdom, Mexico, Australia, or Korea to support a higher initial credit-card limit
  • Initial deposit (optional) — none of the three newcomer programmes require an opening balance
Last checked 1 month ago

Step-by-Step

  1. 1

    Compare the three newcomer programmes against your situation

    1. Map your arrival date to each bank's eligibility window: RBC offers 12 months for permanent residents and international students, 48 months for temporary foreign workers; TD offers 5 years across all status types; Scotiabank's StartRight targets recent arrivals (verify the current window on scotiabank.com)
    2. Decide your priority channel: RBC has the widest channel mix (online, mobile app, branch, phone-virtual); TD anchors on in-branch appointments; Scotiabank routes newcomers through StartRight with a branch handoff
    3. If you arrived from the United States, India, the United Kingdom, Mexico, Australia, or Korea and plan to apply for a Canadian credit card, factor in Scotiabank's Nova Credit integration — it can lift the initial credit-card limit beyond the C$15,000 'no credit history' ceiling at RBC and TD

    💡 Tip: All three banks are CDIC members — deposits are insured up to C$100,000 per depositor per insured category at each bank, so the choice rests on programme fit and product features, not deposit safety.

    RBC Royal Bank — Newcomer Advantage (rbcroyalbank.com ↗) TD Canada Trust — Banking offers for newcomers (td.com ↗) Scotiabank — Chequing accounts (scotiabank.com ↗)
  2. 2

    Gather your documents and confirm a Canadian address

    1. Pack original (not photocopied) documents: valid passport, status document (PR card / IMM 1000 / IMM 5292 / IMM 5688 / IMM 1442 / IMM 1102 / IMM 1208), and a secondary government-issued ID
    2. Confirm a Canadian address you can list on the application: a short-term lease, hostel booking, or signed host letter all work
    3. International students should also pack a proof of enrolment letter from a designated learning institution
    4. Bring your SIN if Service Canada has issued it; if not, you can still open the account and add SIN later

    💡 Tip: TD Canada Trust accepts 'two pieces of identification' — passport plus a Canadian or foreign driver's licence is the most common pairing for newcomers.

    ⚠️ Watch out: If you do not yet have a Canadian address, ask the branch about temporary-address options. Some branches accept a relocation services letter or a hostel receipt as interim proof while you secure a lease.

  3. 3

    Apply at RBC Royal Bank (multi-channel)

    New Arrival Expat
    If you choose RBC Royal Bank's Newcomer Advantage offer
    1. Pick one of the four channels: open online at rbcroyalbank.com, through the RBC Mobile App, visit your local branch, or call 1-888-404-5143 to book a virtual appointment with an advisor
    2. Present your passport, driver's licence, PR card or work permit, and SIN if held
    3. Open RBC Advantage Banking; the C$0 monthly fee for the first 12 months applies automatically
    4. Optionally apply for an RBC credit card with up to a C$15,000 limit and no credit history required

    💡 Tip: RBC's newcomer credit-card offer advertises 'up to 12% cash back for three months' on top of the C$15,000-no-credit-history limit — useful if you have first-month moving expenses to load.

    RBC Advantage Banking (rbcroyalbank.com ↗)
  4. 4

    Apply at TD Canada Trust (branch appointment)

    New Arrival Expat
    If you choose TD's New to Canada Banking Package
    1. Book an appointment to open an account at your local TD branch through td.com or by phone
    2. Bring your status document (PR Card / IMM 1000 / IMM 5292/5688 / IMM 1442/1102 / IMM 1208), a valid passport, a Canadian driver's licence or government ID card, and (international students) proof of post-secondary enrolment
    3. Open TD Unlimited Chequing under the New to Canada Banking Package; the C$17.95 monthly fee is rebated for 1 year
    4. Ask about the bundled C$1,890 value: chequing fee waiver plus chequing cash bonus, savings interest bonus, Aeroplan card welcome offer, Global Transfer fee credits, Direct Investing offer, and bundle bonus

    💡 Tip: If you are arriving from China or India, TD documents a phone-enrolment path before you fly — call TD's international newcomer line from origin. Activation still requires an in-branch visit within 75 days of arrival in Canada.

    ⚠️ Watch out: If TD's online application is faster than waiting for an appointment, you can open TD Unlimited Chequing online in approximately 5 minutes — but the full C$1,890 newcomer-bundle value is documented through the in-branch route. Online-only opening still gets you the 12-month fee rebate on the chequing account itself.

    TD Unlimited Chequing (td.com ↗)
  5. 5

    Apply at Scotiabank (StartRight programme)

    New Arrival Expat
    If you choose Scotiabank's StartRight Newcomer Program
    1. Visit scotiabank.com/ca/en/personal to access StartRight enrolment, or book a branch appointment for identity verification
    2. Open the Preferred Package as the default StartRight chequing vehicle, or the Ultimate Package for unlimited debit transactions plus free ABM withdrawals at any ATM
    3. Bring your passport, status document, and proof of Canadian address; SIN is requested for tax-reporting
    4. If you arrived from the United States, India, the United Kingdom, Mexico, Australia, or Korea, ask the branch advisor about Nova Credit to import your foreign credit history for a higher initial Canadian credit-card limit
    5. Free Scotia International Money Transfers apply automatically to Preferred Package and StartRight customers (foreign-exchange rates still apply on outbound transfers)

    💡 Tip: Newcomer-programme-specific terms — including any 12-month monthly-fee waiver and the full StartRight document checklist — are published at scotiabank.com/ca/en/personal/; verify before account opening with a Scotia branch advisor.

    Scotiabank Preferred Package (scotiabank.com ↗) Scotiabank Ultimate Package (scotiabank.com ↗)
  6. 6

    Activate the account and set up online banking

    1. Sign the account agreement at the branch or complete the e-signature flow online
    2. Receive a debit card on the spot at the branch, or by mail in 5-10 business days for online openings
    3. Register for online and mobile banking with the temporary credentials issued at activation
    4. Set up a direct deposit (employer payroll, government benefits) to start meeting any post-12-month fee-waiver activity requirements

    💡 Tip: The 12-month fee waiver clock starts the day the account is opened, not the day funds first arrive. Schedule any direct deposit setup within the first month so the qualifying activities are in place before the waiver expires.

What Could Go Wrong

Compare and choose a bank: Branch tells you SIN is mandatory before account opening

Recovery: Politely cite the federal Access to Basic Banking Services Regulations under the Bank Act, which require account opening on two prescribed pieces of ID. If the branch staff still refuses, ask to speak with the branch manager. As a last resort, file a complaint with the Financial Consumer Agency of Canada (FCAC) at canada.ca/en/financial-consumer-agency.

Apply: Identity-verification fails because documents are photocopies or scans

Recovery: RBC requires 'government-issued original documents, not photocopies.' Bring the physical passport, status document, and secondary ID to the branch — not printouts. If you applied online and the bank flags identity verification, book a follow-up branch appointment to present originals.

Activate: Newcomer-window eligibility expired (e.g. arrived more than 12 months ago)

Recovery: RBC's PR / international-student window closes at 12 months from arrival. TD's 5-year window is the longest of the three. If RBC's window has closed, compare TD's New to Canada package or Scotia's StartRight programme before defaulting to standard non-newcomer pricing.

Costs

Item Amount Payment Notes
RBC Advantage Banking — newcomer monthly fee, first 12 months C$0 N/A RBC Royal Bank: 'Monthly fee will be waived for the first twelve months upon account opening' for eligible newcomers. After the waiver, the standard fee is C$12.95/month, or as low as C$0/month with the Value Program Rebate (complete at least two of three monthly account activities).
RBC Advantage Banking — standard monthly fee (after 12-month waiver) C$12.95 Direct debit from account Unlimited debit transactions in Canada and free Interac e-Transfers up to 999 per month, then C$1 each. Bank drafts cost C$9.95 each.
TD Unlimited Chequing — newcomer monthly fee, first 12 months C$0 N/A TD Canada Trust: 'TD Unlimited Chequing Account' with '$17.95 Monthly fee rebate for 1 year' under the New to Canada Banking Package. Total advertised package value is C$1,890 across chequing, savings, Aeroplan card, and Direct Investing components.
TD Unlimited Chequing — standard monthly fee (after 12-month rebate) C$17.95 Direct debit from account Waived in any month with a minimum monthly balance of C$4,000. Senior rate (age 60+) is C$11.95. Unlimited transactions and free Interac e-Transfers.
Scotiabank Preferred Package — standard monthly fee C$16.95 Direct debit from account Waived with a minimum daily balance of C$4,000. Newcomer-programme-specific terms (including any 12-month fee waiver) are published at scotiabank.com/ca/en/personal/; verify before account opening with a branch advisor.
Scotia International Money Transfers (StartRight + Preferred Package) C$0 N/A Scotiabank: 'For Preferred Package customers and customers onboarded as a part of the Scotiabank StartRight Program, we do not charge a service fee for the transfer.' Foreign-exchange rates still apply on outbound transfers.
Cash bonus promotion (Scotiabank Preferred or Ultimate Package) (Optional) C$500–C$700 Credited to account Open a Preferred or Ultimate Package between 3 March and 2 July 2026 and complete qualifying transactions: C$500 base bonus, up to C$700 with the savings + registered-account bundle. Verify current promotional terms on scotiabank.com.
RBC Advantage Banking — newcomer monthly fee, first 12 months C$0
Payment:
N/A
Notes:
RBC Royal Bank: 'Monthly fee will be waived for the first twelve months upon account opening' for eligible newcomers. After the waiver, the standard fee is C$12.95/month, or as low as C$0/month with the Value Program Rebate (complete at least two of three monthly account activities).
RBC Advantage Banking — standard monthly fee (after 12-month waiver) C$12.95
Payment:
Direct debit from account
Notes:
Unlimited debit transactions in Canada and free Interac e-Transfers up to 999 per month, then C$1 each. Bank drafts cost C$9.95 each.
TD Unlimited Chequing — newcomer monthly fee, first 12 months C$0
Payment:
N/A
Notes:
TD Canada Trust: 'TD Unlimited Chequing Account' with '$17.95 Monthly fee rebate for 1 year' under the New to Canada Banking Package. Total advertised package value is C$1,890 across chequing, savings, Aeroplan card, and Direct Investing components.
TD Unlimited Chequing — standard monthly fee (after 12-month rebate) C$17.95
Payment:
Direct debit from account
Notes:
Waived in any month with a minimum monthly balance of C$4,000. Senior rate (age 60+) is C$11.95. Unlimited transactions and free Interac e-Transfers.
Scotiabank Preferred Package — standard monthly fee C$16.95
Payment:
Direct debit from account
Notes:
Waived with a minimum daily balance of C$4,000. Newcomer-programme-specific terms (including any 12-month fee waiver) are published at scotiabank.com/ca/en/personal/; verify before account opening with a branch advisor.
Scotia International Money Transfers (StartRight + Preferred Package) C$0
Payment:
N/A
Notes:
Scotiabank: 'For Preferred Package customers and customers onboarded as a part of the Scotiabank StartRight Program, we do not charge a service fee for the transfer.' Foreign-exchange rates still apply on outbound transfers.
Cash bonus promotion (Scotiabank Preferred or Ultimate Package) (Optional) C$500–C$700
Payment:
Credited to account
Notes:
Open a Preferred or Ultimate Package between 3 March and 2 July 2026 and complete qualifying transactions: C$500 base bonus, up to C$700 with the savings + registered-account bundle. Verify current promotional terms on scotiabank.com.
Total: C$47.85

FAQ

Documents

Do I need a Social Insurance Number to open an account?

Not to open the account itself. The federal Access to Basic Banking Services Regulations under the Bank Act require Schedule I banks to open a deposit account for any individual presenting two prescribed pieces of identification — SIN is not one of them. Banks request SIN at onboarding for tax-information reporting (CRA T5 interest reporting, FATCA/CRS for non-residents). If you do not have a SIN yet, ask the branch to open the account on a self-certification basis and add the SIN once Service Canada issues it. Apply for a SIN through Service Canada at canada.ca/en/employment-social-development/services/sin.html.

General

Which newcomer programme has the longest eligibility window?

TD Canada Trust accepts applicants who have been a 'Permanent Resident, International Student or Temporary Resident for 5 years or less.' RBC Royal Bank scopes its window to 12 months for permanent residents and international students, and 48 months for temporary foreign workers. Scotiabank's StartRight programme also targets recent arrivals — verify the current eligibility window on scotiabank.com or with a branch advisor before applying.

Can I open the account before flying to Canada?

Only TD Canada Trust documents a pre-arrival path, and only for residents of China and India who phone-enrol from origin. Pre-arrival enrolment still requires in-branch activation within 75 days of arrival in Canada. RBC Royal Bank states 'you must be 18 years or older and live in Canada' before opening; Scotiabank's StartRight programme similarly anchors activation to a Canadian address. Plan account opening as a post-landing task unless you fall within TD's pre-arrival channel.

What is Nova Credit and which bank uses it?

Nova Credit is a third-party service that imports foreign credit history into Canadian credit decisioning. Scotiabank's chequing-accounts page advertises 'higher credit limit with Nova Credit' for newcomers arriving from the United States, India, the United Kingdom, Mexico, Australia, or Korea. RBC and TD do not advertise a comparable foreign-credit import path. If you held a credit card or loan in one of those origin countries and plan to apply for a Canadian credit card alongside the chequing account, Scotiabank may approve a higher initial limit than the C$15,000 'no credit history required' offers from RBC and TD.

Do I need an initial deposit?

None of the three newcomer programmes require an opening balance. The 12-month fee waiver applies regardless of deposit amount. To unlock the balance-based fee waiver after the promotional period (RBC Advantage, TD Unlimited, Scotia Preferred all use a C$4,000 minimum-balance threshold), you would need to maintain that amount in the account.

Can I apply online instead of visiting a branch?

RBC Royal Bank lists four channels: 'Open online,' 'through the RBC Mobile App,' 'visit your local branch,' or 'Call us at 1-888-404-5143 to book a virtual appointment with an advisor.' TD Canada Trust documents 'Book an appointment to open an account at your local TD branch' as the default newcomer path; the standard online application takes about 5 minutes but does not bundle the full C$1,890 New to Canada package — for the bundle, the in-branch route is documented. Scotiabank's StartRight enrolment routes through scotiabank.com with a branch handoff for identity verification.

After This Process

  • → Apply for a Social Insurance Number (SIN) through Service Canada if you do not already hold one — required for any income or interest-earning account
  • → Order chequebooks if you need to write rent cheques (one of the most common Canadian rental requirements)
  • → Apply for a credit card under your bank's no-credit-history newcomer offer to start building a Canadian credit history
  • → Set up Interac e-Transfer auto-deposit by linking your email or phone number — included free at all three banks

Sources

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  1. T2
    RBC Royal Bank 2026-05-09

    RBC chequing product line and standard monthly fees: Signature No Limit C$16.95, Day to Day C$4, RBC Advantage Banking C$12.95 (with newcomer and student discount paths), VIP C$30, U.S. Personal Banking US$3. Advantage Banking provides unlimited debit transactions in Canada and free Interac e-Transfer transactions.

    rbcroyalbank.com
  2. T2
    RBC Royal Bank 2026-05-09

    RBC Advantage Banking is C$12.95/month standard or 'as low as $0/month' with the Value Program Rebate (complete at least two of three regular account activities monthly: direct deposit, pre-authorized payment, eligible bill payment). Free Interac e-Transfer transactions up to 999 per month, then C$1 each. Bank drafts cost C$9.95. Verbatim newcomer line: 'No monthly fee for one year for newcomers'. Verbatim student line: 'No monthly fee for full-time students and anyone 24 and younger'. Unlimited withdrawals at non-RBC ATMs across Canada.

    rbcroyalbank.com
  3. T2
    RBC Royal Bank 2026-05-09

    RBC Newcomer Advantage eligibility verbatim: 'arrived in Canada within the last 12 months' (permanent residents and international students), 'arrived in Canada within the last 48 months' (temporary foreign workers). Account-opening eligibility verbatim: 'you must be 18 years or older and live in Canada. RBC must be able to confirm your identity through government-issued original documents, not photocopies. Keep your passport, driver's license, permanent residency (PR) card/work permit at hand'. SIN guidance verbatim: 'Make sure you have a valid passport, driver's license, PR card/work permit, and SIN at hand'. Application paths verbatim: 'Open online', 'through the RBC Mobile App', 'visit your local branch', 'Call us at 1-888-404-5143 to book a virtual appointment with an advisor'. 12-month waiver verbatim: 'Monthly fee will be waived for the first twelve months upon account opening'. Credit card offer verbatim: 'Get an RBC credit card with up to a $15,000 credit limit' with 'No credit history required' plus 'up to 12% cash back for three months'.

    rbcroyalbank.com
  4. T2
    TD Canada Trust 2026-05-09

    TD chequing product line: TD All-Inclusive Banking Plan C$30.95/month (waivable at C$6,000 minimum daily balance), TD Unlimited Chequing C$17.95/month (waivable at C$4,000), TD Every Day Chequing C$11.95/month (waivable at C$3,000), TD Minimum Chequing C$3.95/month, TD Student Chequing C$0/month. The TD New to Canada Banking Package is advertised with a '$1,890 in value' headline.

    td.com
  5. T2
    TD Canada Trust 2026-05-09

    TD New to Canada Banking Package — eligibility: 'Permanent Resident, International Student or Temporary Resident for 5 years or less'. Status documents accepted: Permanent Resident Card; Immigrant Visa and Record of Landing (IMM Form #1000); Confirmation of Permanent Residence (IMM Form #5292/5688); Temporary Work Permit (IMM Form #1442/1102); Study Permit (IMM Form #1208). ID required: 'A valid passport', 'Canadian Driver's License', or 'Canadian Government ID Card'. International students additionally require 'Proof of enrollment in a post-secondary program'. Application path: 'Book an appointment to open an account at your local TD branch'. Pre-arrival phone enrolment available for residents of China and India with 75-day in-branch activation requirement. 12-month rebate: 'TD Unlimited Chequing Account' with '$17.95 Monthly fee rebate for 1 year'. C$1,890 advertised package value spans chequing fee waiver, chequing cash bonus, savings interest bonus, Aeroplan card welcome offer, Global Transfer fee credits, Direct Investing offer, and bundle bonus. Credit card offer: 'up to a $15,000 credit card limit – no credit history required'.

    td.com
  6. T2
    TD Canada Trust 2026-05-09

    TD Unlimited Chequing Account fee and features verbatim: 'Monthly Fee $17.95'; senior rate '$11.95' for age 60+; 'Minimum monthly balance for monthly fee rebate $4,000'; 'Transactions included per month Unlimited'; 'Free to send or request money using Interac e-Transfer'. Online application path verbatim: 'Fill out your secure application in approximately 5 minutes'.

    td.com
  7. T2
    Scotiabank 2026-05-09

    Scotiabank chequing product line: Ultimate Package C$30.95/month (waivable at C$6,000 minimum daily balance OR Total Relationship Balance of C$100,000), Preferred Package C$16.95/month (waivable at C$4,000), Preferred Package for Students and Youth C$0/month (under 25 or full-time student), Basic Plus C$11.95/month (waivable at C$3,000), Basic C$3.95/month (no waiver). StartRight programme is referenced as Scotiabank's newcomer banking vehicle; 'higher credit limit with Nova Credit' is mentioned for newcomers.

    scotiabank.com
  8. T2
    Scotiabank 2026-05-09

    Scotia Preferred Package monthly fee C$16.95, waivable at C$4,000 minimum daily balance. Cash Bonus Bundle promotion (Preferred or Ultimate Package opened between 3 March and 2 July 2026) up to C$700 total — C$500 base bonus plus C$100 savings bonus plus C$100 registered-account bonus with bundle. StartRight integration on international transfers verbatim (Legal Text 7): 'For Preferred Package customers and customers onboarded as a part of the Scotiabank StartRight Program, we do not charge a service fee for the transfer'. Foreign-exchange rates still apply on outbound transfers.

    scotiabank.com
  9. T2
    Scotiabank 2026-05-09

    Scotia Ultimate Package features verbatim: 'Unlimited debit and Interac e-Transfer transactions'; 'Withdraw from any ABM for free'; 'Waive the fee for a small safety deposit box'. Waiver thresholds verbatim: '$6,000 or more in this account' maintained daily OR 'Total Relationship Balance of $100,000 across all eligible accounts'.

    scotiabank.com
  10. T2
    Scotiabank 2026-05-09

    StartRight programme is positioned by Scotiabank as the specialty service for 'people relocating to Canada establish banking relationships and build credit history'. Main-domain navigation references the StartRight programme for newcomers and Nova Credit higher-credit-limit integration. Newcomer-programme-specific eligibility, document list, and 12-month fee-waiver terms are not enumerated on the main domain; verify on scotiabank.com/ca/en/personal/ pages or with a Scotia branch advisor before account opening.

    scotiabank.com
  11. T1
    Service Canada 2026-05-09

    The Social Insurance Number is the federal tax identifier issued by Service Canada. SIN is required to receive earnings, government benefits, and to be reported on tax forms. The federal Access to Basic Banking Services Regulations under the Bank Act require Schedule I banks to open a deposit account on two prescribed pieces of identification — SIN is not among the prescribed pieces, but banks request it at onboarding for tax-information reporting (CRA T5 interest reporting; FATCA/CRS for non-residents).

    canada.ca
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