Which banks allow you to open accounts without a SIN?

In the Canadian banking system, the Social Insurance Number (SIN) plays an important role, but not having one is not an obstacle to opening a bank account. This is especially important for temporary residents, students with visas, visitors, and new immigrants who have not yet had time to obtain their SIN. Understanding which banks and types of accounts can be opened without a SIN helps you quickly integrate into the Canadian financial system and start a normal financial life in your new country.

Canadian law clearly distinguishes between cases where a SIN is required and where it is not. Under the Income Tax Act, banks are required to request a SIN only when opening interest-bearing accounts, as this income is reportable to the Canada Revenue Agency. This means that most basic checking accounts that do not earn interest can be opened without a SIN, providing access to basic banking services for a wide range of people.

Legal basis for opening an account without a SIN

Canadian federal law guarantees the right to open a bank account to all individuals who meet basic identification criteria, regardless of whether they have a SIN. The Bank Act stipulates that financial institutions cannot refuse to open an account solely because of the absence of a SIN if the customer can provide proper identification documents and does not wish to open interest-bearing products.

The main categories of people who can take advantage of this option include visitors on tourist visas, temporary workers with work permits, international students with study permits, people awaiting immigration processing, newcomers who have not yet had time to apply for a SIN, and Canadian citizens who have lost their SIN and are awaiting renewal.

The key condition is the type of account: basic interest-free chequing accounts do not require a SIN, while savings accounts, high-yield accounts, investment products, and registered accounts (RRSP, TFSA) require a SIN for tax reporting purposes.

Major Canadian banks: policies on SIN-free accounts

Royal Bank of Canada (RBC): the most flexible

RBC has the most liberal approach to opening accounts without a SIN, especially for newcomers and temporary residents. The bank officially confirms that a SIN is not required to open basic checking accounts if they do not earn interest. The RBC Newcomer Advantage Package allows you to open a full-service checking account with only a study or work permit and a passport.

In Calgary, the RBC main branch (339 8th Ave SW) has experience working with international clients and can process applications without a SIN on site. The bank also offers RBC Cross-Border Banking for Americans and other foreign nationals, which makes the process easier for visitors from neighboring countries.

A particularly attractive feature is the ability to add a SIN to an existing account later without having to close and reopen the account.

TD Canada Trust: specializing in temporary residents

TD clearly states that a checking account can be opened without a SIN if it does not earn interest. For foreign workers, TD only requires a Temporary Work Permit (IMM Form 1442/1102) and one piece of identification.

A unique service offered by TD is the ability for residents of China and India to set up an account before arriving in Canada and then activate it within 75 days at any TD branch.

Scotiabank: international experience and flexibility

The StartRight Program is designed specifically for newcomers and allows you to open accounts with minimal documentation. A Scotiabank International Account can be opened online before moving, with a transfer of up to CAD 50,000.

BMO Bank of Montreal: focus on personal service

BMO emphasizes the possibility of opening an account without a SIN when visiting a branch in person. The BMO NewStart program for newcomers offers a Performance Chequing Account with no fees for two years.

CIBC: selective approach

CIBC allows you to open accounts without a SIN in special cases, usually requiring a personal visit to a branch.

Regional banks and credit unions in Alberta

ATB Financial: provincial flexibility

ATB offers alternative procedures for those who have not yet obtained a SIN. The New to Canada Banking program allows you to open an account with other documents.

Servus Credit Union: a cooperative approach

Servus offers deposit-only accounts without the ability to debit until a SIN is obtained and has a profit sharing program.

Online banks: restrictions and alternatives

Tangerine and Simplii Financial require a SIN for all account types. An alternative is a Wise borderless account with Canadian account details and a debit card.

Credit unions outside Alberta

Coast Capital Savings and Meridian Credit Union offer accounts without a SIN under certain conditions.

Practical tips and strategies

• Required documents: passport, visa/permit, proof of address, additional ID.
• Strategy: start with a large bank (RBC, TD), then add your SIN.
• Common mistakes: trying to open a savings account instead of a checking account, applying online.

Restrictions on accounts without a SIN

Limited access to credit products and investments, no interest on balances, but basic features — deposits, payments, card, e-Transfer — are available.

Opening a bank account without a SIN in Calgary is entirely possible for temporary residents, students, visitors, and newcomers. The key is to know the rules, prepare your documents, and choose a bank with the right policy.