You can open some Canadian bank accounts from the US, but not all banks allow it and the process is slower than opening one in Canada

Most major Canadian banks—Royal Bank of Canada (RBC), Toronto-Dominion (TD), Bank of Nova Scotia (Scotiabank), and Bank of Montreal (BMO)—will open accounts for US residents, but they require you to visit a branch in person or work through their US subsidiaries. You cannot complete the full process online from the US without already having a relationship with the bank. Some smaller Canadian banks and credit unions will not open accounts for non-residents at all.

The main barrier is that Canadian banks must verify your identity in person and confirm your tax residency status. If you are a US citizen or permanent resident, you will also need to provide a US tax ID (Social Security Number or ITIN) because of FATCA (Foreign Account Tax Compliance Act), a US law that requires foreign banks to report accounts held by US persons. This adds time and paperwork to the process.

Key Takeaways

  • Major Canadian banks accept US residents but typically require an in-person visit to a Canadian branch or use of their US-based subsidiary to open an account.
  • You will need a valid passport, proof of US address, and a US tax ID (Social Security Number or ITIN) because of FATCA reporting requirements.
  • Opening an account takes longer than it would in Canada—expect two to four weeks after your in-person visit for the account to be fully set up.
  • If you live near the US-Canada border, visiting a branch in person is the fastest route; if you are far from the border, opening through a US subsidiary or waiting until you travel to Canada may be more practical.

Which Canadian banks will open accounts for US residents

RBC, TD, Scotiabank, and BMO all have processes for opening accounts from the US, though the exact steps vary by bank. RBC and TD have the most established US-facing operations because they own US subsidiaries (RBC Bank and TD Bank, respectively). If you open an account through their US subsidiary, you get a US account number and routing number, which is simpler for US bill payments and direct deposits, but it is technically a US account, not a Canadian one.

If you want an actual Canadian account with a Canadian address and Canadian account number, you will need to either visit a Canadian branch in person or contact the bank's international services line to arrange a remote opening. This is slower and involves more documentation. Scotiabank and BMO require in-person verification for most US residents, though they may make exceptions for existing customers or those with Canadian family members who can co-sign.

Smaller banks and credit unions—such as Tangerine, EQ Bank, or most provincial credit unions—typically do not open accounts for non-residents. If you are looking for a specific bank, call their customer service line and ask whether they accept US residents; the answer varies by institution and sometimes by which US state you live in.

Documents you will need to bring or send

All Canadian banks require the same core documents from US residents: a valid passport, proof of your current US address (utility bill, lease, or bank statement dated within the last 90 days), and your US tax ID. If you have a Social Security Number, bring that. If you do not, you will need an ITIN (Individual Taxpayer Identification Number), which you can obtain from the IRS if you do not already have one.

Some banks also ask for proof of income (recent pay stub or tax return) or a letter from your employer. If you are self-employed, bring your most recent tax return. A few banks will ask whether you have any Canadian income or Canadian tax obligations; answer honestly. If you are a Canadian citizen living in the US, mention that, because it may speed up the process.

If you are opening an account remotely (not in person), the bank will likely ask you to upload scans or photos of these documents through their website or email them to a specific address. Make sure copies are clear and legible, with all four corners of the document visible.

How to open an account: in-person versus remote

In-person at a Canadian branch: If you can travel to Canada, this is the fastest route. Walk into any branch of your chosen bank, bring your passport and proof of US address, and ask to open a non-resident account. The teller will take your information, verify your identity, and usually give you temporary access to online banking that same day. The account itself takes one to two weeks to fully activate, and your debit card arrives by mail within 7 to 10 business days.

Remote opening through international services: Call the bank's main customer service line and ask for the international or non-resident accounts department. They will mail you an application form or send you a secure link to complete it online. You upload your documents, and a representative reviews them. This process takes two to four weeks. Once approved, the bank mails you a welcome package with your account details and debit card.

Through a US subsidiary: If you open through RBC Bank or TD Bank (the US versions), the process is identical to opening a US account—you can do it online or visit a US branch. You will have a US account number and US routing number, which works for US bill pay and direct deposit but is not a Canadian account. If you later need a Canadian account, you will have to open a separate one.

Timeline and what to expect after you apply

If you open in person at a Canadian branch, you will have temporary online access within hours and a working debit card within two weeks. If you open remotely, expect the full process to take three to four weeks from the day you submit your documents. The bank will contact you by email or phone if they need clarification on anything—this is common and adds a few days to the timeline.

Once your account is open, you can transfer money from your US bank account to your new Canadian account using an international wire transfer or a service like Wise or OFX. Wire transfers take one to three business days and usually cost $15 to $50. Wise and similar services are often cheaper (usually $5 to $15) but may take an extra day.

Your Canadian account will come with online banking access, a debit card, and the ability to set up bill payments within Canada. You will not be able to use the debit card for US purchases without notifying the bank first, and you will pay a foreign exchange fee (usually 2% to 3%) on any US transactions. If you plan to use the account primarily for US payments, opening through a US subsidiary makes more sense.

Tax and reporting requirements for US residents

Because you are a US person (citizen or resident), the Canadian bank must report your account to the IRS under FATCA. This does not mean you owe taxes on the account—it just means the bank sends the IRS information about the account balance and activity. You do not have to do anything; the bank handles the reporting automatically.

You are still responsible for reporting the account on your US tax return if the total balance exceeds $10,000 at any point during the year. This is done on Form FinCEN 114 (FBAR), which you file with the US Treasury Department. If you are also a Canadian resident or citizen, you may have Canadian tax obligations as well; consult a cross-border tax professional if you are unsure.

The bank will not ask you to prove you have filed these forms, but failing to file when required can result in penalties. If you are opening the account primarily to hold Canadian dollars or access Canadian services while living in the US, the reporting is straightforward and usually not a problem.

Alternatives if a Canadian bank will not open an account for you

If you cannot open a Canadian account directly, you have a few options. First, ask whether the bank will open an account if you have a Canadian co-signer (a family member or friend with a Canadian address). Some banks make exceptions for this. Second, open an account through the bank's US subsidiary instead; you will have US account and routing numbers, but you can still hold Canadian dollars and transfer money to Canada.

Third, use a digital banking service that operates in both countries. Wise, for example, lets you hold Canadian dollars and receive Canadian account details (including a Canadian account number) without opening a traditional bank account. The fees are lower than wire transfers, and the process is entirely online. Wise is not a bank, so it does not offer loans or credit products, but for holding money and making transfers, it works well.

Fourth, if you are a Canadian citizen, you may be able to open an account online through some banks if you have a Canadian mailing address (even if you do not live there). Ask whether the bank will accept mail to a family member's address in Canada.

Frequently Asked Questions

Do I need a Canadian address to open a Canadian bank account from the US?

No. You can use your US address on the application. The bank may ask whether you have a Canadian address, but it is not required. Some banks will accept mail to a Canadian address if you provide one, which can speed up delivery of your debit card, but it is optional.

Can I open a Canadian account online without visiting Canada?

Most major banks require at least one in-person visit to a Canadian branch or a video call with a representative to verify your identity. A few banks may allow fully remote opening if you are an existing customer or have a Canadian family member, but this is rare. Opening through a US subsidiary is fully online.

What is the difference between opening through a Canadian branch and through a US subsidiary?

A Canadian branch account has a Canadian account number, Canadian address, and is subject to Canadian banking rules. A US subsidiary account has a US account number and routing number, making it easier for US bill pay and direct deposit. Both are legitimate; choose based on whether you need the account primarily for US or Canadian transactions.

Will the bank freeze my account because I am a US resident?

No. US residents open Canadian bank accounts regularly, and FATCA reporting is routine. The bank will not freeze or close your account because of your US residency. However, if you do not report the account on your US tax forms when required, the IRS may contact you later.

How much money do I need to open an account?

Most Canadian banks require a minimum opening deposit of $100 to $500 CAD. Some accounts have no minimum. Ask the bank about their specific requirement before you apply. You can transfer this money from your US account after the account is open.