Resources Money and Finances

Money and Finances

Money and Finances

In Canada, you have the right to open a bank account at a bank or a federally regulated credit union as long as you show proper identification.

You can open an account even if you:

  • don’t have a job
  • don’t have money to put in the account right away
  • have been bankrupt

To open an account, you usually have to:

  • go in person to a financial institution
  • provide an acceptable form of identification

Contact the financial institution to find out if there are other ways to open an account. Financial institutions that operate only online may require that you have an existing account with another financial institution before opening an account for you.

You may be able to open a bank account with the proper identification in Canada if you’re not a Canadian citizen or if you live in another country. You may need to go to the financial institution in person to open a bank account.

Contact the financial institution for more information about opening a bank account if you’re not a Canadian citizen.

For more information on opening a bank account in Canada, explore the Financial Consumer Agency of Canada’s Guide to Opening a Bank Account (https://www.canada.ca/en/financial-consumer-agency/services/banking/opening-bank-account.html). 

For a list of PEI financial institutions, explore the business directory (LINK TO BUSINESS DIRECTORY).