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Most of Canada's major banks have branches in Timmins, Kirkland Lake, and Haileybury. They all offer a variety of accounts and services, interest rates and service charges. Consider these features, as well as their location, when you choose a financial institution.
Step 1: Gather your Documents
You’ll need at least two pieces of identification (ID) to open a bank account in Canada. Acceptable identification may include:
You should also note that some branches require you to provide your local Canadian address to open a bank account.
Step 2: Select a Bank.
| Timmins | Kirkland Lake | Haileybury / Temiskaming |
Step 3: Select your Account.
After selecting a bank, set up an appointment to open an account.
At your appointment, you’ll set up one or more accounts. Most people have both a chequing and savings account.
Chequing account: This everyday account earns little or no interest. You can regularly withdraw money, pay credit card bills and write cheques from it.
Savings account: This account type is useful for store money over longer periods of time as your money earns more interest here than in a chequing account.
Foreign currency account: If you want to keep some money in a different currency, you may want to open this type of account.
During your appointment, make sure that you understand your bank’s terms and conditions of service. Ask the bank about transaction fees, as these vary from bank to bank.
Step 4: Setting up your Card.
When you open your new account, your bank representative will give you a bank card (debit card). You will be given a PIN (personal identification number) to access your account through an ATM or debit machine. Your PIN is your only protection against unauthorized use, so do not reveal it to anyone — even bank employees. This card allows you to:
Most financial institutions offer internet banking, which allows you to check your account balance, pay your bills and transfer money without needing to visit your branch in person.
Financial institutions are usually open during the day, Monday to Friday, and closed on holidays. Some branches are open on evenings and weekends.
