Short answer: yes — but get your SIN as fast as possible. Here is how to bank in the meantime.
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The short answer: most banks will open a basic account without a SIN
Under the Bank Act, federally regulated banks in Canada are required to open a basic bank account for any eligible person who presents acceptable identification — even without a Social Insurance Number. This rule was put in place specifically to help newcomers who have not yet received their SIN.
However, not having a SIN means certain account features are restricted. Understanding these limitations will help you plan your first few weeks in Canada.
Source: Financial Consumer Agency of Canada — Opening a bank account
What you can and cannot do without a SIN
✓Open a basic chequing account
Yes — banks must open an account with acceptable ID even without a SIN.
✓Receive direct deposit (paycheque)
Yes — your employer can deposit to your account with only your account number.
✓Make Interac e-Transfers
Yes — this feature does not require a SIN.
✗Open a TFSA (Tax-Free Savings Account)
No — requires a SIN. You cannot contribute to a TFSA without one.
✗Open an RRSP
No — a SIN is mandatory for all registered accounts.
✗Apply for a credit card
No — most banks require a SIN for credit card applications.
✗File taxes with the CRA
No — a SIN is required for all CRA interactions.
What ID you need instead of a SIN
Without a SIN, bring two pieces of acceptable identification. Banks typically accept combinations from the following:
Primary ID
Passport, Permanent Resident card, Confirmation of Permanent Residence (COPR), work permit, study permit, provincial driver's licence
Secondary ID
Foreign driver's licence, credit card from a foreign country, utility bill (in some cases), employer letter
Requirements vary by bank. Call ahead or check the bank's newcomer page before your visit.
Which banks are most flexible for newcomers without a SIN?
RBC
High — RBC Newcomer Advantage program explicitly accepts newcomers without a SIN at account opening. You add the SIN later.
Scotiabank
High — StartRight program designed for newcomers; SIN can be provided after account opening.
TD
Moderate — TD's newcomer program allows account opening; some staff may not be aware of the policy, escalate if refused.
CIBC / BMO / National Bank
Moderate — same legal obligation applies but newcomer program experience varies by branch.
EQ Bank / Online banks
Lower — EQ Bank requires a SIN for account verification. Better after you have your SIN.
How to get your SIN as fast as possible
The fastest way to get a SIN is to visit a Service Canada Centre in person with your original documents. You receive your SIN the same day. Once you have it, provide it to your bank to unlock all account features.
Read our full guide: How to Get Your SIN Number in Canada as a Newcomer →