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Discover the easiest bank accounts to open online in Canada with this comprehensive list. Start banking today and skip the long lines and paperwork
Opening a bank account in Canada has never been easier, thanks to the rise of online banking. With just a few clicks, you can have access to a range of banking services without ever stepping foot in a branch.
In this article, we will explore the easiest bank accounts to open online in Canada, from high-interest savings accounts to no-fee chequing accounts.
Easiest Bank Accounts to Open Online in Canada
Opening a bank account online in Canada has never been easier. Find out which banks offer the simplest and most convenient account opening process with this list.
EQ Bank Savings Plus Account
The EQ Bank Savings Plus Account is a top choice for Canadians looking to maximize their savings. With a competitive interest rate and no monthly fees, this account is a popular option. Opening an EQ Bank Savings Plus Account is a breeze – simply visit their website and follow the step-by-step instructions. You’ll need to provide some personal information and complete the online application form. Once approved, you can start earning interest on your savings right away.
Simplii Financial No-Fee Chequing Account
If you’re in need of a chequing account, look no further than Simplii Financial. With no monthly fees, unlimited transactions, and free e-transfers, this account offers great value. Opening a Simplii Financial No-Fee Chequing Account is quick and easy. Visit their website, provide the required information, and submit your application online. Once approved, you’ll receive your account details and can start managing your finances online or through their mobile app.
KOHO Spending and Savings Account
KOHO is a popular fintech company that offers a unique spending and savings account. With no monthly fees and a sleek mobile app, KOHO is a great option for those who prefer digital banking. Opening a KOHO account is a straightforward process. Download the app, sign up, and provide the necessary identification documents. Once your account is verified, you’ll have access to a range of features, including budgeting tools and cashback rewards.
Neo Money Account
Neo Financial is a new player in the Canadian banking scene, but it’s already making waves with its innovative offerings. The Neo Money Account is a hybrid chequing and savings account that offers competitive interest rates and no monthly fees. Opening a Neo Money Account is hassle-free – simply visit their website, complete the online application, and provide the required identification documents. Once your account is approved, you can start enjoying the benefits of Neo’s user-friendly interface and money-saving features.
Scotiabank Preferred Package
For those who prefer to bank with a traditional institution, Scotiabank’s Preferred Package is worth considering. While it does have a monthly fee, it offers a range of benefits, including unlimited transactions and free e-transfers. Opening a Scotiabank Preferred Package account can be done online or in-branch. Visit their website, choose the Preferred Package, and follow the instructions to complete your application. Once approved, you’ll receive your account details and can start managing your finances with ease.
BMO Performance Chequing Account
The BMO Performance Chequing Account is one of the easiest bank accounts to open online in Canada. With this account, you can enjoy unlimited transactions and access to a wide range of banking services. Whether you need to pay bills, transfer funds, or manage your finances, this account provides you with the convenience and flexibility you need.
Opening a BMO Performance Chequing Account online is a straightforward process. Simply visit the BMO website, navigate to the account opening page, and follow the instructions. You will be asked to provide personal information, such as your name, address, and social insurance number. Once you submit your application, BMO will review it and notify you of the account opening status.
With the BMO Performance Chequing Account, you also have the option to apply for overdraft protection. This feature can help you avoid declined transactions and costly fees. You can manage your account online, through the BMO mobile app, or by visiting a BMO branch.
HSBC Advance Chequing Account
The HSBC Advance Chequing Account is another easy-to-open bank account in Canada. This account offers a range of benefits, including unlimited transactions, access to HSBC’s global network, and personalized financial advice.
To open an HSBC Advance Chequing Account online, visit the HSBC website and navigate to the account opening page. Follow the instructions and provide the required information. HSBC will review your application and inform you of the account opening status.
With the HSBC Advance Chequing Account, you can also enjoy features such as free Interac e-Transfers, free personalized cheques, and access to HSBC’s online and mobile banking platforms.
RBC Signature No Limit Banking Account
The RBC Signature No Limit Banking Account is a popular choice for Canadians looking to open a bank account online. This account offers unlimited transactions, a wide range of banking services, and access to RBC’s extensive network of branches and ATMs.
To open an RBC Signature No Limit Banking Account online, visit the RBC website and navigate to the account opening page. Provide the necessary information, such as your personal details and identification documents. RBC will review your application and notify you of the account opening status.
With the RBC Signature No Limit Banking Account, you can also enjoy additional benefits such as free personalized cheques, unlimited Interac e-Transfers, and access to RBC’s online and mobile banking platforms.
Tangerine No-Fee Daily Chequing Account
The Tangerine No-Fee Daily Chequing Account is a great option for those who want a simple and straightforward banking experience. It offers no monthly fees, unlimited transactions, and free access to over 3,500 ATMs across Canada through the Scotiabank network. Opening an account can be done entirely online in just a few minutes, making it incredibly convenient.
In addition to the basic banking features, the Tangerine No-Fee Daily Chequing Account also offers the ability to earn interest on your balance. With a competitive interest rate, this account allows you to grow your savings while still having easy access to your funds. The account also comes with a free Tangerine Debit Card, which can be used for purchases online and in person.
TD Unlimited Chequing Account
The TD Unlimited Chequing Account is another excellent option for opening a bank account online in Canada. With this account, you can enjoy unlimited transactions, no monthly fees, and a wide range of additional features. To open an account, you can simply visit the TD website and complete the online application process.
This account also offers the convenience of free access to over 2,000 TD ATMs across Canada. Additionally, you can make use of TD’s mobile banking app, which allows you to manage your account, deposit checks, and make payments from your smartphone or tablet.
One of the standout features of the TD Unlimited Chequing Account is the overdraft protection option. This allows you to avoid costly overdraft fees by linking a TD credit card or line of credit to your account. If your balance is insufficient, the overdraft protection will automatically cover the difference, providing you with peace of mind and financial flexibility.
How to Open Canada Bank Account Online
Opening a bank account is an essential step when it comes to managing your finances. With the convenience of online banking, you can now open a bank account in Canada from the comfort of your own home. In this guide, we will walk you through the step-by-step process of opening a Canada bank account online.
Step 1: Compare Online Bank Accounts in Canada
The first step is to compare the different online bank accounts available in Canada. Take your time to research and compare the features, fees, and benefits offered by different banks. Look for an account that suits your needs and offers competitive interest rates.
Step 2: Fill Out Forms to Open a Bank Account Online, Instantly
Once you have chosen a bank, visit their website and look for the option to open an account online. You will be required to fill out an application form with your personal information, such as your name, address, and social insurance number. Make sure to double-check all the information before submitting the form.
Step 3: Verify Your Identity
After submitting the application form, the bank will verify your identity. This may involve providing additional documentation such as a copy of your passport or driver’s license. The bank may also perform a credit check to ensure your eligibility for opening an account.
Step 4: Activate Your Debit Card
Once your identity is verified, the bank will send you a debit card. Activate the card by following the instructions provided. This will allow you to access your funds and make transactions using your online bank account.
Step 5: Set Up Your Online Bank Account
Finally, it’s time to set up your online bank account. Log in to the bank’s website using the provided credentials. Take some time to explore the different features of your online banking platform. You can now transfer funds, pay bills, and manage your finances conveniently from anywhere.
Opening a bank account online in Canada has never been easier. By following these simple steps, you can save time and effort while enjoying the benefits of online banking. Start your journey towards financial freedom today!
Wrap On Easiest Bank Accounts to Open Online in Canada
With the convenience of online banking, opening a bank account in Canada has never been easier. Whether you’re looking for a high-interest savings account or a no-fee chequing account, there are plenty of options available. Consider the EQ Bank Savings Plus Account, Simplii Financial No-Fee Chequing Account, KOHO Spending and Savings Account, Neo Money Account, or Scotiabank Preferred Package when opening your next bank account online.
This article was updated 2 months ago