Opening an Online Financial Savings Account in Canada
- 1). Go to a Canadian bank’s website to open an online financial savings account in Canada (see Resources). Proceed to the option on their website that allows you to apply for an account. Decide what kind of account that you want to open. For example, if you want to continue dealing with US dollars, choose a banking plan that allows you to save in that currency. Most Canadian banks have options that fit different people’s tastes.
- 2). Wait until you receive a welcome package from the online bank. Look though this package for detailed information on your next application step. Go through this packet to see what you need to open a savings account. List the documents that you’re going to need to open your account, then put those documents together. The welcome kit has straightforward direction to complete your application. Submit your application, plus required documents, to the bank.
- 3). Know that you have to be present in Canada, at the nearest bank branch, as the last step to open your online account. Talk to a representative to complete opening your account. Bring identification with you, make sure that the ID is current, original and with the same name on each document.
- 4). Ask the bank representative for different ways you could make deposits to your account. If you can mail your deposit, send a cashier’s check through insured and registered mail. Follow the bank’s suggestion for mailing your deposits. Use direct deposit to send your paycheck to this account; please see tips and warning for safely making deposits without going to the bank.
- 5). Choose the nearest Canadian bank. If you live in Canada, do online banking with the bank closest to your home and work address. Also choose the Canadian bank whose options and service features fits your personality and lifestyle.
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