Set up your account before arriving to Canada
If you live in a country where HSBC is located, you can open a Premier or Advance chequing account by completing an application online or over the phone. You can pre-open1 this account from the comfort of your own home, or visit an HSBC branch in your home country to open an unrestricted account with full banking access.
International Student Program SDS participants are able to open an Unlimited Chequing account with Student discount before arriving in Canada.9
Ready to start?
Why pre-open an account
- Express entry compatibleWe’re a recognized financial partner with Immigration, Refugee and Citizenship Canada. So, you will be able to use a deposit confirmation letter to show proof of funds.
- Travel safetyDepending on your family size, your proof of funds requirement may be well over $10,000 CAD. Any cash in hand over $10,000 CAD must be declared to the border officer. Moving money into a chequing account before you arrive means you don’t have to travel with as much cash.
- Have money when you arriveWhen you pre-open the account, you can deposit up to CAD $30,000 by wire transfer. Make sure you do this at least one week before you arrive though, because wire transfers can take days to process. You can access the funds as soon as you activate your account at an HSBC branch in Canada.
- One less thing to doSetting up your banking is an essential part of getting settled in a new country. When you pre-open your account, you can cross this off your list of “to do” items.
Important things to consider before you begin pre-departure account opening
Here's how to get started
Apply now
Frequently asked questions
Should I visit a branch now or later?
Now Visit HSBC in your home country |
Later Visit HSBC in Canada |
|
|---|---|---|
| Can I start using the account right away? |
Yes | Initial deposit only. Other transactions will be available once you activate your account in person in Canada |
| Purpose of account |
|
|
| How do I open account? |
Telephone application and in branch identity verification |
Telephone application or online application5 |
| What type of accounts can I open?6 |
Sole or joint chequing Sole or joint savings |
Sole chequing Other accounts are available once you arrive in Canada |
| Is there a limit on the amount of my initial deposit? |
No limit set by HSBC Bank Canada7 |
A one-time wire up to $30,000 CAD from a personal bank account with your name, in your country of residence8 |
| When can I fund the account? |
Right away |
Right away10 |
| When can I use Global View and Global Transfers? |
Right away |
After visiting a branch in Canada |
| When do I get Online banking access? |
Right away |
After visiting a branch in Canada |
| When can I pay bills or make purchases? |
Right away |
After visiting a branch in Canada |
| When can I apply for a credit card? |
Right away (subject to local country regulations) |
After visiting a branch in Canada |
| When do I get debit card? |
At the branch in Canada8 |
At the branch in Canada8 |
| When do I qualify for the “New To Canada” offers? |
As soon as you become a landed Canadian immigrant.
|
As soon as you become a landed Canadian immigrant.
|
|
Can I start using the account right away? |
|
Now Visit HSBC in your home country |
Yes |
Later Visit HSBC in Canada |
Initial deposit only. Other transactions will be available once you activate your account in person in Canada |
|
Purpose of account |
|
Now Visit HSBC in your home country |
|
Later Visit HSBC in Canada |
|
|
How do I open account? |
|
Now Visit HSBC in your home country |
Telephone application and in branch identity verification |
Later Visit HSBC in Canada |
Telephone application or online application5 |
|
What type of accounts can I open?6 |
|
Now Visit HSBC in your home country |
Sole or joint chequing Sole or joint savings |
Later Visit HSBC in Canada |
Sole chequing Other accounts are available once you arrive in Canada |
|
Is there a limit on the amount of my initial deposit? |
|
Now Visit HSBC in your home country |
No limit set by HSBC Bank Canada7 |
Later Visit HSBC in Canada |
A one-time wire up to $30,000 CAD from a personal bank account with your name, in your country of residence8 |
|
When can I fund the account? |
|
Now Visit HSBC in your home country |
Right away |
Later Visit HSBC in Canada |
Right away10 |
|
When can I use Global View and Global Transfers? |
|
Now Visit HSBC in your home country |
Right away |
Later Visit HSBC in Canada |
After visiting a branch in Canada |
|
When do I get Online banking access? |
|
Now Visit HSBC in your home country |
Right away |
Later Visit HSBC in Canada |
After visiting a branch in Canada |
|
When can I pay bills or make purchases? |
|
Now Visit HSBC in your home country |
Right away |
Later Visit HSBC in Canada |
After visiting a branch in Canada |
|
When can I apply for a credit card? |
|
Now Visit HSBC in your home country |
Right away (subject to local country regulations) |
Later Visit HSBC in Canada |
After visiting a branch in Canada |
|
When do I get debit card? |
|
Now Visit HSBC in your home country |
At the branch in Canada8 |
Later Visit HSBC in Canada |
At the branch in Canada8 |
|
When do I qualify for the “New To Canada” offers? |
|
Now Visit HSBC in your home country |
As soon as you become a landed Canadian immigrant.
|
Later Visit HSBC in Canada |
As soon as you become a landed Canadian immigrant.
|
How will I receive important notices and banking disclosures?
When you use the telephone or online account opening process, you consent to receiving these documents electronically. You can update these preferences at any time by logging on to Online banking.
Why do I need to visit a branch?
If you’re not moving to Canada, you will be required to visit HSBC branch in your local home country. They will complete your ID verification and sighting on our behalf. Canadian “Know Your Customer” regulations require that we view you alongside your ID documents. If you are moving to Canada as a permanent resident, foreign worker, international student or an HSBC International Student Program participant in Immigration, Refugee, and Citizenship Canada’s Student Direct Stream (Student GIC) program, then we are able to pre-open your account and postpone the in-person ID verification until after you arrive in Canada.
Are there benefits to visiting a branch in my home country?
Yes. If you’re an HSBC customer in your home country, and you visit the branch for ID verification, your account can be used once it’s opened. You’ll be able to use exclusive features like HSBC credit history transfer as well as Global View and Global Transfers.
Can I pre-open my account if I am applying for a visa through IRCC's Student GIC Program?
Yes. You would need to follow the requirements of HSBC International Student Program.
What happens after the account is opened?
You will receive a secure email within 2 - 3 business days with instructions on how to complete an optional wire. If you choose to wire money to your account, you will be provided with a deposit confirmation letter which can take up to 10 business days. An HSBC International Case Manager will contact you if we require any additional information.
How long does the account activation process take?
Confirming your ID in the branch should be fairly quick. However, we recommend that you allow a full hour for your appointment, so we can help make sure you have all the financial tools you need to settle down in Canada.
What can I use as a secondary form of identification?
There are a few types of ID you can use.
What other financial tools might I get?
We offer a Mastercard that doesn’t require a Canadian credit history, along with other great newcomers offers.
Do you support languages other than English?
The HSBC International Services team in your home country speaks your local language, but the application is in English. If you need language support, please call your local hotline and do a phone application.
1 Pre-open means that a chequing account will be opened but it will be blocked from all transactions except an initial deposit until you visit a branch in Canada with your original identity documents. Accounts must be activated within 8 months of the account opening date. We may close your account and return any money deposited to you, less any fees, if you do not activate the account within 8 months. See the terms and conditions for more information.
2 If the information provided in your application is unclear or we require more information, an HSBC International Case Manager will contact you at the phone number and/or email address provided in your application. We may even require you to visit a local HSBC branch to have your identification verified.
3 The initial deposit must be a wire made from a personal bank account in your home country with your name. Transfers are subject to local country exchange regulation which may include fees or other limitations. Refer to your local financial institution for more information.
4 Individuals who are applying for their Canada visa through Immigration, Refugee, and Citizenship Canada’s Student Direct Stream /Student GIC Program are eligible to use pre-departure account opening. You must also follow the requirements of HSBC’s International Student Program.
5 Online application processing is currently only available in select countries.
6 If you have a need for a Canadian chequing account that is not listed here, please contact your local International Services team to see if we can accommodate your account opening.
7 Foreign currency exchange rates and local country limitations apply. Transfers from accounts outside Canada may be subject to transfer fees. Access to internet banking is only available for customers who have visited a branch for identification verification and may be limited by your local country regulations.
8 HSBC Bank Canada does not automatically issue debit cards to be sent internationally since a temporary card can be picked up and used immediately at the branch. Customers may order debit cards by contacting customer support if they require the debit card prior to arriving in Canada. Please note that debit cards have limited usability outside of Canada.
9 Once you meet the program’s GIC requirement, you can upgrade to Advance or Premier.
10 International wire processing still apply (3-5 business days).