Banking and moving money to Canada

Opening an account

You don't have to be a Canadian citizen to open a bank account, as long as you have suitable ID. You may need to go to a branch.

• The bank must confirm your identity with original documents: usually two, one with your name and address and one with your name and date of birth. A foreign passport is accepted.
• Large banks: RBC, TD, Scotiabank, BMO, CIBC and National Bank. In Quebec there is also Desjardins.
• You can check on the CDIC site whether the institution is a member of federal deposit insurance.

Source: FCAC: Opening a bank account · CDIC (deposit insurance)

Moving money from Israel without surprises

• Prepare proof of where the money comes from: a flat sale, savings, inheritance or salaries. Banks in both countries must check it.
• Use a bank or a properly registered transfer service. In Canada, money services businesses must register with FINTRAC, and you can search its registry (registration isn't an endorsement). In Israel: the Bank of Israel.
• For a large transfer, tell the receiving bank in advance and send the documents. That prevents a freeze during the check.

Source: FINTRAC: Money Services Business Registry · Israel Money Laundering Prohibition Authority · Bank of Israel