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Questions you May Have About Opening an Account:
Do I need to make a minimum deposit?
No. A minimum deposit is not required to open a personal deposit account. However, you may find it convenient to set up direct deposit for government payments and/or your paycheque. Please speak with one of our staff if you have questions, or would like assistance setting up your direct deposit.
Do I need a permanent address?
No. Having a permanent address is not a requirement to open a personal deposit account, but we are required by law to ask about your address. We may ask you for a supporting document, such as a recent utility bill or tax bill, that includes both your name and address to show that you live where you say you do.
Do I need to be employed?
No. Employment is not a requirement for opening an account, but we are required by law to ask about your occupation.
Can I open an account if I've been bankrupt?
Yes. Your credit history is not a consideration when opening a personal deposit account, provided that it does not contain derogatory information that was the result of fraud or other illegal activity. However, if you request overdraft protection for your account, our normal credit policies and procedures will apply.
Do I need photo ID?
No. But photo ID is a good way to help us protect you and for us to get to know you better. What you will be required to make available to outlined fully below.
What are acceptable pieces of Identification?
When you open your personal deposit account, you will be required to present to us:
- Two pieces of personal identification from among those set out in Part A or B of the Schedule of Acceptable Identification (see below), at least one of which must be from Part A of the Schedule of Acceptable Identification, or
- One piece of identification from those listed in Part A of the Schedule of Acceptable Identification, if your identity is also confirmed by a client in good standing with Scotiabank or by an individual of good standing in the community where your branch is located.
For minors under the age of 12 years, we ask that a parent or legal guardian open the account for the minor and that the parent or legal guardian provide two pieces of original acceptable identification to confirm his or her own identity. In addition, if in your capacity as legal guardian for a minor, you ask us to open an account for the minor, you must provide us with a certified copy of the legal document verifying your guardianship of the minor. Any minor, regardless of age, who is given signing authority on an account, must present to us two pieces of original acceptable identification.
The identification that you present to us must be original, valid and not substantially defaced. We reserve the right to contact the issuer of any identification document presented by you in order to verify that document.
We will record the particulars of any identification document that you present to us.
If the name shown on one of the pieces of identification presented by you differs from the name shown on any other piece of identification presented by you, you are required to provide us with a certificate evidencing the change of name (or a certified copy of that certificate) or other document supporting the change.
In addition to the identification you are required to present to us, you must also disclose to us the following information, if it is not available on the pieces of identification that you present:
- your full name
- your home address, if any
- your date of birth, and
- your occupation or type of business, if any.
In some instances, we may need to further investigate and verify the identification and/or information that you have provided prior to opening an account for you.
We can refuse your request to open a personal deposit account for certain legal reasons, but if we do, we'll inform you about this in writing.
Schedule of Acceptable Identification
This list is provided per the "Access to Basic Banking Services Regulations" under the Bank Act (Canada).
Part A
- A valid driver's licence issued in Canada, as permitted to be used for identification purposes under provincial lawi
- A valid Canadian passport
- A Certificate of Canadian Citizenship or a Certification of Naturalization, in the form of a paper document or card, but not a commemorative issue
- A Permanent Resident card or Citizenship and Immigration Canada Form IMM 1000, IMM 1442 or IMM 5292
- A provincial or territorial health insurance card, as permitted to be used for identification purposes under provincial lawii
- A Certificate of Indian Status issued by the Government of Canada
- A document or card, bearing your photograph and signature, issued by any of the following authorities:
- Insurance Corporation of British Columbia
- Alberta Registries
- Saskatchewan Government Insurance
- Department of Service Nova Scotia and Municipal Relations
- Department of Transportation and Public Works of the Province of Prince Edward Island
- Service New Brunswick
- Department of Government Services and Lands of the Province of Newfoundland and Labrador
- Department of Transportation of the Northwest Territories
- Department of Community Government and Transportation of the Territory of Nunavut
- A Social Insurance Number (SIN) card issued by the Government of Canadaiii
- An Old Age Security card issued by the Government of Canada
- A birth certificate issued in Canada
Part B
- A credit card, issued by a member of the Canadian Payments Association in your name, or bearing your name and bearing your signature
- A Canadian National Institute for the Blind (CNIB) client card bearing your photograph and signature
- An employee identity card, issued by an employer that is well known in the community, bearing your photograph
- A bank or automated banking machine or client card, issued by a member of the Canadian Payments Association in your name, or bearing your name, and bearing your signature (the card must be embossed with your name)
- A valid foreign passport
We reserve the right to verify any identification presented by you, with the issuer.
i In Quebec, legislation prevents us from asking for your driver's licence, however, you may volunteer it.
ii Notes:
- Health cards from Ontario, Manitoba, and PEI cannot be used for identification purposes.
- Health cards from British Columbia, Alberta, Saskatchewan, New Brunswick, Newfoundland & Labrador, Nova
Scotia, Quebec (Quebec legislation prohibits the bank from asking for this information; however, if you volunteer
we may record the details), NWT, Yukon, Nunavut are acceptable as ID in any province or territory including
Ontario, Manitoba and PEI.
iii We are required by the Income Tax Act to make reasonable efforts to obtain your social insurance number for reporting purposes when you open an interest bearing account.
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