Money

Opening a Bank Account

70e330cb3a27515a7d1a73f17f2db6f7
70e330cb3a27515a7d1a73f17f2db6f7
70e330cb3a27515a7d1a73f17f2db6f7

3 minutes - Article

Adulting is tough, but opening a bank account is one of the easiest and most important things you can do!

If you have a job or get government cheques, then that money can be sent directly to your bank account. This is called ‘direct deposit.’ And you can usually take the money out right way without paying high fees. You can also use your bank account to pay bills online and keep track of what you’re spending your money on.

Never give your banking pin to ANYBODY.

Pick a local bank, like ATB Financial, TD Canada Trust, Royal Bank, Scotiabank, and so on. Then go into the bank in person and ask them to help you. You will need two pieces of ID (at least one issued by the government). If you don’t have ID, you will need to get that first before setting up your account. Learn more about getting ID here.

Its good to pick a branch near you that’s easy for you to get to.

Helping out young people

Holly Cooper is from the Kahkewistahaw and Ochapowace First Nations in Saskatchewan and now she works for ATB Financial in Calgary. She says that banks like to help out young people.

When Holly was turning 18, she says she didn’t realize how serious it was to have a bank account to get what she wanted, like a car or her own place.

“As a young woman, I know that banking wasn't in my mindset at the time. And some parts of me regret taking that approach because I did not set myself up for early success. I wasn't taught that as a young woman. And now, you know, fast-forward, 30 years, I'm actually working for a bank!”

Related Resources