It is important to open a bank account as soon as possible after you arrive in PEI. You can use your account to :

  • keep your financial assets in a safe place
  • keep track of your income (the money you receive) and expenses (the money you spend)
  • pay bills, such as rent, electricity, telephone, etc.
  • receive direct payments from certain employers or government services
  • establish a credit history in Canada, which can help you borrow money or get a credit card later

Documents needed to open a bank account
Generally, you need two pieces of identification to open a bank account, one of which must have your photo on it. Documents you bring to the bank