Can you have a Canadian Bank Account if Non-Resident?

TD's current requirements for opening an account include id from the province or territory of residency. (There's a lot of paperwork (tax related) required for US citizens in Canadian financial institutions, so it's likely similar for other countries.) They do mention non-resident withholding tax with regard to the payment of dividends and interest, so there is some provision for non-residents, but I'm unsure if that only applies to US residents. Their website is not clear on this issue and they might have different requirements for lending than for holding a basic account. (Again, their site isn't clear.)

You may want to neglect to mention your residency status or just call and ask them as a "hypothetical" question. Personally, I'd be reluctant to give up my Canadian banking (and credit history) until I could secure the same services in my adopted country. Good luck!

Generally, a non-resident can open an bank account at TD Bank. They may charge the account holder some  fees to maintain the account. However, not sure if the fee is applicable in your case. (if you are still a Canadian citizen, but residing outside of Canada).
Hope this input helps.

adam1001 wrote:

I'm a Canadian citizen who is no longer a resident of Canada as I moved to Spain. Since I have a long banking history in Canada I can get loans there that I cannot over here. So I kept my Canadian bank account and credit cards at TD bank.

yes you can. have such an account .

If you are residing in the US, you will have to fill in a form ( which the bank will send you  at one point in time from their office in Missisauga) because of FATCA

https://www.canada.ca/en/department-fin … fatca.html

If it is  another  country with which Canada has bilateral agreement for tax purposes and where you are paying taxes on your income ,  the  bank may involve the CRA depending on how much interest you will be making on the account ( as an example the interest accumulated in a GIC account ) .

Hi Adam1001;

Not sure how it all works but I used to have a Bank of Valletta (Malta) account years ago while being a citizen and living in Canada (not in Toronto) but that was when they had a branch in Toronto. I've not lived in Toronto for many years.

Sorry I can't be more helpful.

Vicki

Yes that may be the best option. You never know.

The only downside is that it will be hard to monitor your TD account if you are abroad. I don't think you will be able to access your account online if you are in Spain.

Julia

TD always charge some monthly fees whereas you are a Canadian citizen or a foreigner, unless you maintain a certain balance each month.

Julia