When you're leaving Canada, a common question is: "Should I keep my Canadian bank account?" Many people want to hold on to it for tax refunds, Wise transfers, or a possible return trip—while also worrying about monthly fees and identity checks. The reality is that some accounts can no longer be used once you become a non-resident. This article gives you a straightforward look at how to think about keeping a Canadian bank account after you move abroad, and what to watch out for.
- A Canadian account is worth keeping as a destination for tax refunds and Wise transfers
- Check whether your account has monthly fees—and how to qualify for waivers—before you go
- Even "no-fee" accounts may not be open to non-residents and could be closed
- For SMS login, keeping a Canadian number on a low-cost annual plan can be worthwhile
- A data-only eSIM doesn't include a number or SMS, but apps like WhatsApp still work for calls over data
- There are real benefits to keeping a Canadian account (tax refunds, CRA matters, Wise transfers, holding Canadian dollars, future trips)—but watch out for monthly fees and identity verification.
- Be aware that some accounts can't be used once you're a non-resident, and may even be closed. A no-fee account isn't guaranteed to support non-residents.
- A Canadian number can be useful for logging in to your account. One option is to keep the number on an annual plan and handle data separately.
The information here reflects general conditions as of June 2026. Account maintenance, fees, interest rates, and non-resident policies vary by bank and over time, so always confirm with each institution's official information before taking action.
Benefits of keeping a Canadian account after you leave
- Checking balances and holding Canadian dollars
- Receiving tax refunds and CRA-related payments
- A destination for transfers via Wise and similar services
- Ready to use again if you return to Canada
- If it's an interest-bearing account, a place to let funds sit
Watch out for monthly account fees
Some Canadian bank accounts charge a monthly maintenance fee (which may be waived if you keep a minimum balance). If you'll be using the account less often after you move, check whether fees apply and what the conditions are.
"No-fee" accounts aren't always open to non-residents
No-fee accounts with higher interest rates (for example, online-only banks) can look appealing. But some of these accounts require you to be a Canadian resident with a permanent Canadian address. If you'll be living outside Canada long term, some services may close your account. In other words, "just switch to a free account" isn't always the fix. Confirm with each bank's official information whether you can still use the account as a non-resident.
It's tempting to think "I'll just move to a free, high-interest account and be set," but the condition that non-residents can't use—or may have closed—such accounts is easy to overlook. If you're about to move abroad, it pays to ask your bank early whether your current account will still work for non-residents, and whether there's an alternative.
Why a Canadian number for SMS verification matters
Logging in to a Canadian account online can require SMS verification or identity checks. If you've already cancelled your number, you may get stuck here. If you want to keep the number, a number-retention plan (a low-cost plan that keeps your phone number active) is one option. We cover this in more detail in How to receive Canadian SMS verification after you leave Canada.
What to confirm with your bank before you go
| Item to check | Key point |
|---|---|
| Non-resident eligibility | Whether you can keep and use the account after you move |
| Monthly account fee | Conditions and the balance needed for a waiver |
| Registered details | Updating your address, phone number, and email |
| Login verification | How SMS or app-based verification works |
| Transfers | How to receive and send money via Wise and similar services |
| Tax treatment | Confirm how you're treated as a non-resident |
How a Canadian number relates to banking tasks
| Situation | Where a Canadian number comes in |
|---|---|
| Online login | SMS verification and identity checks |
| Updating registered details | Verifying changes |
| Sending and receiving money | Identity-check contact |
Who this approach suits—and who it doesn't
A good fit if you…
- Need a Canadian account for tax refunds or CRA matters
- Plan to return to Canada and want to keep the account
- Want to hold Canadian dollars
Probably not worth it if you…
- Have no plans to use a Canadian account for the foreseeable future
- Can't maintain the account as a non-resident and have no alternative
Keep the number, handle data separately
Even if you keep a number for account logins, you don't need a full data plan attached to it. You can keep the number cheaply on something like an annual plan and add data only when you need it. If you just want to add data, a data-only eSIM is one option. Bloomy data plans come in 1GB, 3GB, 5GB, 10GB, and 20GB (please check coverage for your area). Note that Bloomy is a data-only eSIM and does not provide a phone number or SMS. A fair-use policy applies, and connection quality varies with the local network, your device, and the area.
Common mistakes (avoidable with a quick check)
- Not checking the account's conditions for non-residents: confirm with each bank before you leave.
- Being locked out of the account after cancelling your number: set up number retention or an alternative verification method.
- Assuming a free account solves everything: check whether it supports non-residents.
What to do next
- Confirm with each bank whether your Canadian account can be used as a non-resident
- Check the conditions for any monthly account fee
- Update your registered address, phone number, and email
- Confirm your login verification method (SMS or app)
- If you keep a number, plan to handle data separately with an eSIM
Summary
There's real value in keeping a Canadian account after you move abroad, but the reality is that some accounts can't be used by non-residents. Rather than assuming "a free account will fix it," confirm non-resident support with each bank before you leave. If you keep a number for logins, holding it on a low-cost annual plan and handling data separately with an eSIM is a manageable setup.
This article is for general information only and is not financial, investment, tax, or legal advice. Account maintenance, fees, interest rates, and non-resident eligibility vary by bank and over time. Before taking any action, confirm with each institution's official information or support channels, and consult a professional if needed. We make no guarantee that you will be able to receive Canadian SMS after you leave Canada.
