CA · Provinces and territories

Banks in Canada

Last verified: September 2026 · Sources: Source Policy

Canada has a two-tier banking system: federally regulated banks operate nationwide, while provincially regulated credit unions serve each province. Deposit protection is 100,000 CAD per depositor, per institution, through the CDIC for banks and provincial schemes for credit unions.

Item	Detail
Currency	CAD
Regulator	OSFI / FCAC
Deposit protection	100,000 CAD per depositor, per member institution
Protection scheme	CDIC
Residency required	Not always
Identity needed	SIN (Social Insurance Number)
Regions covered	13

Browse Canada by provinces and territories

Each page covers the local regulator, banks and credit unions with a real presence in the region, local rules and the exact steps to open an account.

ON Ontario QC Quebec BC British Columbia AB Alberta MB Manitoba SK Saskatchewan NS Nova Scotia NB New Brunswick PE Prince Edward Island NL Newfoundland and Labrador YT Yukon NT Northwest Territories NU Nunavut

National banks across Canada

These operate nationwide, so your region does not restrict access to them.

R

RBC Royal Bank

National bank

Largest Canadian bank. Nationwide branch and digital coverage.

T

TD Canada Trust

National bank

Very strong branch network and long opening hours in many locations.

S

Scotiabank

National bank

Wide Canadian footprint with strong international presence.

B

BMO Bank of Montreal

National bank

One of the oldest banks in Canada; broad retail network.

C

CIBC

National bank

Major national bank with strong digital banking tools.

Digital banks

T

Tangerine

Digital

Scotiabank-owned digital bank. No-fee daily chequing.

S

Simplii Financial

Digital

CIBC-owned digital bank with no-fee chequing account.

E

EQ Bank

Digital

High interest savings focused; no physical branches.

W

Wealthsimple

Digital

Investing first, with a growing cash account offering.

K

Koho

Digital

App-based spending account; not a full bank charter.

Check the numbers before you borrow

Our calculators run entirely in your browser — no signup, no stored data.

Loan payment calculator Debt payoff calculator

Sources and verification

Canadian banking regulation and deposit insurance are administered by OSFI and the CDIC.

CDIC — Deposit insuranceCanada Deposit Insurance Corporation
OSFI — About OSFIOffice of the Superintendent of Financial Institutions
FCAC — For consumersFinancial Consumer Agency of Canada

Last reviewed September 2026. If you find an error on this page, tell us.

New directories

Recently added country directories

13 régions

France banking directory with local banks and account opening requirements.

19 autonomous communities

Spain banking directory with local banks and account opening requirements.

Explore Switzerland

26 cantons

Switzerland banking directory with local banks and account opening requirements.

Explore Netherlands

12 provinces

Netherlands banking directory with local banks and account opening requirements.