What is the minimum age to open a bank account in Canada?
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- Updated On:28-Jun-2023
- Replies:1
Short Answer
In Canada, anyone can open a Bank account. You don’t have to worry about any minimum age criteria. Because there is no minimum age limit. In short, every person can open a bank account, be it a 70 years old adult or a 10 years old child.
Detailed Answer
A person who resides in Canada and is a resident of Canada, can get a bank account opened. Though in some banks there is a restriction on children below 15 years if they come alone. It is mandatory for children below the age of 12 to go with a legal guardian or a parent.
For example, Scotiabank has a rule that a child below 12 must have a parent accompanying him to open a bank account. Though, nowadays children between 13-15 years can easily go and do it independently.
What do you need when opening a bank account in Canada?
Be it a child or an adult, the process of opening a bank account in Canada is pretty simple. Here is a list of things that you have to keep in mind before going.
- Always carry a government ID, in the original form. Photocopies do not work and the ID must have your picture and signature. You can use your driver license, passport or even your national ID card.
- If you go for your child’s bank account, then you might not have the above mentioned documents. In this case, you can take a birth certificate or his health card as ID proof.
- For the address proof, you can show documents like electricity bills or any kind of public utility bill. Even the bank statements can work for address proof.
- The most important thing to remember is that every bank in Canada has some different requirements that you have to fulfill. Though the basics like IDs and address proof remain the same. Just check if the ID you give is acceptable by the respective bank.
Most important, do check on the respective bank's site for any changes in conditions and requirements.
Hence, in Canada, every person can open a Bank account, irrespective of their age. The process is also very simple and basic.
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Discussion (0)
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