Why do I need a bank account?

A Canadian bank account makes it easier to manage your money. A Canadian bank account is a place for you to hold your money, pay bills, deposit cheques, and withdraw cash from in a safe and easy way. Opening an account should be one of your first steps to settling in Canada.

How do I choose a bank account?

When looking at different Canadian bank accounts you should consider:

• The monthly fees, and whether those fees are waived if you maintain a minimum monthly balance.
• The number of included transactions and any additional fees.
• Any additional perks or benefits.

Once you’ve found an account that meets your needs and supports your financial goals, take time to read the terms and conditions associated with the account. Ask the account provider questions about anything you don’t understand. After opening the account, keep a copy of the account agreement for your records.

How to open an account at ATB

You will need to visit a branch location in person to open your account. This is because we will need to confirm your identity.

To have your identity confirmed, you will need to bring identification documents. The documents must be originals and not photocopies.

The Government of Canada requires you to show one piece of government issued photo ID that is not expired.

In addition, you’ll need to provide proof of Alberta residency.

What can I expect from my appointment to open an account?

1. You will get a bank card. After your banker reviews the account details and documents with you, you can choose to receive a Visa debit card (also called a bank card).

2. Set up your PIN. Unless it is a “tap” transaction, every time you use your card, you will be asked to enter your personal identification number (PIN). When you first get your card, the temporary PIN will be four numbers long and you will have to set a new one at an ABM. The new PIN can have 4–12 numbers. Do not write down your PIN or tell it to anyone, even family members.

3. Sign up for digital banking. With digital banking, you can use a computer, smart phone or tablet to access your account to view balances, transfer money between accounts and pay bills. When you choose to open an account at ATB, learn more about our online and mobile banking with these helpful tutorials.

4. Receive e-statements. With your account, you will receive a monthly statement showing your balance and transactions from the last 30 days. With ATB, you can choose to receive a free digital statement or a paper statement by mail for a fee. E-statements are faster and more secure than paper statements, especially if you are a renter and may move often. Ask your everyday banking advisor to set up e-statements.

ATB everyday banking advisors are here to help you and your family. For answers to your questions, to learn more about the Canadian banking system, and for advice on reaching your financial goals, book an appointment with an advisor at an ATB location near you.