Mobile Banking in Canada

This means that new arrivals, expats and foreign residents need to know how to get modern banking solutions in Canada’s evolving digital landscape.

This guide will cover Canada’s mobile banking ecosystem, including the available features, security measures, and how to get started.

Key takeaways: banking in Canada for expats

• All major Canadian banks have a mobile banking app – and there are also digital only banks like Tangerine and specialist providers (which aren’t banks) like Wise, which offer in app services
• You can use your mobile or smart device to transact and check your account – make mobile payments with a wallet like Apple Pay, and view your account balance and transactions conveniently
• Customers must take steps to keep their mobile banking services secure – such as using 2 factor authentication and keeping passwords secret
• Specialist providers like Wise may suit expats looking for convenient in app services – plus you can open a Wise account before you move to Canada to hold, send, spend and even receive CAD

Mobile banking in Canada

Mobile banking – whether that’s services available from digital only banks, or the mobile features offered by banks with a branch network – are booming in Canada. The Canadian Bankers Association reports that 8 out of 10 Canadians manage most of their banking transactions online or in their bank or provider’s app.

Some of the available mobile banking options for Canadian customers include:

National Banks: If you have an account with one of the ‘big 4 banks’, using RBCmobile banking, TD Bank mobile banking, BMO mobile banking or CIBC mobile banking may speed up transactions and allow you to manage your money on the move.

Online-Only Banks: Digital only banks in Canada, like Tangerine offer fully digital services, and may also allow you to access in person services like cash deposits. Tangerine for example lets you deposit cash at a Scotiabank ABM.

Alternative Banking Solutions: Some providers like Wise is not a bank, but do also offer safe financial services through mobile apps and desktop sites.

Multinational Payment Services: Canadian customers can also access services from Apple, Google, and PayPal for mobile payments and digital wallets. Add a card to your Apple or Google wallet to pay on the move, or use PayPal for online shopping and to send payments to others.

Advantages of mobile banking over in person banking

Some banks which have a branch network may not offer all of their services through digital channels. This might mean you still need to visit a branch to complete certain tasks like opening an account or securing a mortgage for example.

This is usually to allow the bank to verify your identity and run legally or practically required checks to make sure the services they’re offering you are suitable.

Digital only banks and specialist providers like Wise only have services which can be accessed through apps and online applications. This offers convenience as you can access your mobile banking service 24/7 rather than needing to get to a physical branch in banking hours.

It’s worth noting that some digital and mobile services – like Wise – don’t offer the full suite of services you might get from a bank. Wise doesn’t offer credit cards or loans for example – but it is an expert at helping expats and travellers send and receive foreign payments and convert currencies with low costs.

This might mean you need to use several different digital services to access all the services you need, but you could also stand to make cost savings by making smart decisions about how you manage your money online and in apps.

Wise for example can be a great way to save money on overseas payments, with no hidden currency exchange fees and fast delivery times.

Features of mobile banking in Canada

You can usually access mobile banking through your bank if you already have an account – or you can choose a digital provider like Tangerine to open a new account and manage your money online and in app. It’s straightforward to download your banking app and you can usually get logged in and set up in just a few simple steps.

Bank mobile apps do vary. However, some features are common across Canadian banking apps – here’s a quick rundown of the core features from the RBC app as an example:

Money Transfer: Transfer money between your own accounts or send payments to others using Interac

Bill payment: Pay local bills – add payees by taking a photo of the bill you’re paying

Credit check: View your credit score in real time through the app and get actionable tips to improve

Financial Management Tools: View your accounts, see fee information and daily limits, get up to 7 years of account statements

Notification System: Set up payment notifications and search for transactions from your dashboard

International Features: Make international payments more or less anywhere in the world

Cheque deposit: Pay in your cheques by taking and uploading a photo of them

Investment and wealth management: Trade shares and get wealth management advice and support in app, contribute to your TFSA, RRSP, or RESP

Customization: Design your own interface so you can easily see the services and features you need

Of course, mobile banking isn’t perfect. For one thing it relies on a steady and reliable internet connection, which may be an issue if you travel or are in a rural area where coverage isn’t perfect. However, mobile banking solutions are usually quite comprehensive and can be a smart way to carry out many common transactions in Canada.

How to open a mobile bank account in Canada

If you’re opening a new account with a bank or digital provider, you can often do so online or through the provider’s app as long as you’re a Canadian long term resident.

It’s helpful to note that you can’t usually open an account with a bank in Canada prior to moving there – even if you can start your application in advance of your relocation you are asked to go to a bank branch to show your ID on arrival. In this case, if you’re a newcomer to Canada you may also need to provide additional documents such as your Citizenship and Immigration Canada Form (IMM 1000, IMM 1442, IMM 5688 or IM 2592) and your Permanent Residence card.

When you open a new account with a digital provider in Canada you’ll be asked for your personal and contact information, and you’ll need to upload some ID documents for verification. This is known as the ‘Know Your Customer’ process and is required by law to prevent fraudulent or illegal account use.

Normally you will need to provide the following to open an account in Canada:

• Proof of ID like a driving license or passport
• Proof of residency like a utility bill or bank statement

You can upload an image of the documents needed to your banking app rather than needing to visit a branch in person to get your account set up.

Mobile bank fees in Canada

Where providers have created digital only banks in Canada you’ll often find their fees are very low. To give an example, the Tangerine Chequing Account fees are pretty much zero for all common local services. There are some international charges, such as a foreign transaction fee of 2.5% which are worth considering if you use your account when you travel.

The key downside to these accounts may be that you find feature limitations. For example, you can’t send or receive international payments with Tangerine. This could be a big issue if you’re an expat and need to send money frequently to and from your home country.

In this case, using a service like Wise can be a good way to access the low costs of a digital bank like Tangerine, while still being able to transact internationally.

Wise lets you send money overseas to 140+ countries, with low fees and the mid-market rate. You can also receive money to Wise in 20+ currencies with your own account details.

Mobile payments in Canada

Canadians have been quite early adopters of mobile and digital payment trends, with billions of dollars of payments made annually with mobile wallets like Google Pay and Apple Pay.

If you have a mobile banking service you’ll normally find you can access a virtual card which you can link to a wallet like Google Pay or Apple Pay to make mobile payments. All you need to do is hold your phone or smart device to the payment terminal – much like you would when making a contactless payment with a physical card. The phone uses the same technology as your card would, to process the payment.

The key advantage with using mobile payments through wallets like Google Pay and Apple Pay is that you don’t need to carry your physical cards with you.

Interac e-Transfer mobile payment option

Interac e-Transfer is another local payment option in Canada, allowing you to send money to others using just the recipient’s name or contact information. This saves you looking up their banking information and means payments can be processed without needing to share sensitive financial details.

Interac e-Transfer is built into the mobile and online banking services of most Canadian banks and is used for CAD – CAD payments.

Mobile banking security in Canada

Canadian banks are well regulated and providers and banks have very strong security protocols to keep customers safe. However there are a few things you can do to help.

To keep your personal data safe when mobile banking in Canada:

• Use your phone’s biometric ID protection (fingerprint, voice, face recognition)
• Set up password protection and high-strength passwords
• Avoid using public WiFi networks for banking
• Immediately complete logout procedures after use

Other common sense precautions include regularly checking your transactions to look for suspicious activity and freezing your card if you are concerned it has been lost or stolen – this can be done in your provider’s app.

Opening a bank account in Canada

If you’re already a Canadian legal resident with a local address you might be able to open your new bank account online or through the provider’s app. However, if you’re trying to open an account with a Canadian bank in advance of moving to the country, you’re likely to be out of luck.

Although people moving to Canada can often open a savings account to deposit money in Canada, you won’t be able to use the account fully until you arrive. Instead, you have to visit the bank in person on arrival to show your ID and complete the application process.

You might find it more straightforward to open an account with a provider like Wise which does not require you to be a Canadian resident to hold and manage CAD. Instead you can open your Wise account with your proof of ID and address from wherever you call home.

Wise account supports 40+ currencies with ways to receive payments in major currencies like CAD, and international payment services covering 140+ countries.

Conclusion

Mobile banking – through a digital only provider, or using the mobile banking app offered by your Canadian bank – can be a convenient way to manage common transactions. Canadian banks all offer apps which allow you to complete many activities such as making payments or checking your balance. Or you could choose an account from a digital only bank like Tangerine, or a specialist like Wise for a fully online and in app experience.

Before you open an account to manage your money in Canada check the eligibility requirements and the costs. Non-residents can not usually open an account with a Canadian bank, so you will have to wait until you move to get a local account. Instead you can open an account with a provider like Wise from many different countries globally, to hold, receive, send and spend CAD conveniently and with low fees.

FAQs

Can I open a Canadian bank account online?

If you are a Canadian resident with a local proof of address and a valid long term visa you may be able to open your account online with a Canadian bank. However, new arrivals are often asked to go to a branch in person instead.

Can I use Wise instead of a bank account?

Wise is not a bank and a Wise account is not a bank account. You can use your Wise account for managing many everyday transactions and payments, across 40+ currencies including CAD – but you can’t get all the services you can from a bank, such as a loan or credit card.

Which bank is best for mobile banking in Canada?

All Canadian banks have mobile banking services – many of which frequently win industry awards for ease of use. Ultimately, which bank app suits you will depend a lot on your personal preferences. Look at online reviews to see what existing customers say about different apps before you sign up.

What is the difference between mobile and internet banking?

Mobile banking is usually optimised for access using your phone or smart device, while internet banking services are intended for use on a laptop. Often both offer similar features, but with a slightly different user experience to match the device you’re using to access your account.

Useful resources

(Information last checked on 15th of October, 2025)

• Office of the Supervisor of Financial Institutions – regulator of federally regulated financial institutions and pension plans
• Bank of Canada (BOC) – the central bank in Canada
• Financial Consumer Agency of Canada – for complaints about banks and similar services
• Ratehub – comparison site for Canadian banks
• Wowa – comparison site for Canadian banks