Online Account Opening
General FAQs
New retail members (no business accounts or existing members) can open individual accounts (no joint accounts), including chequing, non-registered savings, and select registered savings accounts online such as RRSP and TFSA Jumpstart High Interest Savings Accounts (HISA).Jumpstart registered savings accounts opened are completed as part of a single application and automatically include a Pay As You Go chequing account as part of membership setup. See account details.
Please note existing members can open new accounts such as a savings account or term deposits here.
There’s no fee to open an account. When you join Vancity, you become a member of our credit union, and that comes with a small ownership share.
A one-time $5 from your first deposit goes toward your membership shares. These shares make you a co-owner of Vancity, giving you a voice in how we’re running (including voting in Board elections).
This isn’t a service charge, and it stays with your membership. If you ever close your account and end your membership, your $5 membership share is returned to you, subject to our rules.
To open an account online, find the chequing account or High Interest Savings Account (HISA) that’s right for you and simply select “Open an account”. You’ll be asked to complete a secure online application. It should take you about 5 to 10 minutes to complete.
Choose from one of our chequing accounts:
Essential Chequing Account
- Unlimited Everyday Transactions¤
- Free Interac® e-Transfers
- Online & mobile banking
- Your eligible deposits are 100% protected by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC).
Essential Plus Chequing Account
- Free unlimited Everyday Online and Mobile and Debit Card transactions§
- Free Cheque Transactions and Pre-authorized Payments from Vancity accounts
- Rebate up to $150 for the first year on select rewards credit cards
- Your eligible deposits are 100% protected by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC).
Pay As You Go Account
- Pay per transaction
- No monthly fee
- Includes free online bill payments and mobile cheque deposits.
- Your eligible deposits are 100% protected by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC).
Total™ Chequing Account
- Free unlimited Everyday Online and Mobile, In-Person, and Debit Card transactions§
- Free pre-authorized debits and bill payments
- Free personalized cheques and bank drafts
- $5 discount on safe deposit box
- Annual rebate up to $150 on select rewards credit cards
- Your eligible deposits are 100% protected by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC).
Or open a High Interest Savings Account (HISA)
Jumpstart™ High-Interest Savings Account
- Earn our highest interest savings account rate
- Free Vancity Mobile Deposit™
- Free online and automated telephone service transfers between Vancity accounts
- Available now on some registered accounts
- Your eligible deposits are 100% protected by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC)
TFSA Jumpstart™ High-Interest Savings Account
- Free Everyday Online and Mobile Transactions*
- Option to use it with a TFSA, RRSP
- Your eligible deposits are 100% protected by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC)
RRSP Jumpstart™ High Interest Savings Account
- Free Everyday Online and Mobile Transactions*
- Option to use it with a TFSA, RRSP, FHSA, RRIF, RESP, or RDSP
- For new personal deposits only
- Your eligible deposits are 100% protected by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC)
You can open up to two accounts during the Online Account Opening process.
Please note that opening a registered Jumpstart™ High-Interest Savings Account (TFSA or RRSP) will automatically include a Pay As You Go chequing account, and both accounts count toward the two-account limit.
Getting Started
Complete your online application here using your web browser on a mobile phone, desktop, and/or tablet.
While we recommend using the latest version of a web browser, the minimum version requirements to open an Online Account include:
- Google Chrome, Firefox, and Microsoft Edge – version 100 or above
- Safari – version 15 or above
Using one of the recommended versions of the web browsers listed above will ensure that you’re getting the best experience.
Opening an account online is quick and easy. Complete the application in 5 to 10 minutes, and you may be approved on the spot. In some cases, applications may require additional review, which can take up to two business days.
To open an account online at Vancity, you need to:
- Be a resident of British Columbia
- Be 19 years of age or older
- Have a Social Insurance Number
- Have either a BC driver’s license, BC services card, Certificate of Indian Status, or similar BC ID, and a mobile device for identity verification
- Be opening an account for yourself, not for a third-party
Acceptable ID includes
- BC driver’s license, BC services card, or similar government issued BC photo ID.
- Certificate of Indian Status
- Ontario driver’s license
- Alberta driver’s license
- Permanent Resident Card
- Canadian Passport
Please note that we validate your phone number as part of the ID verification process.
Acceptable ID includes:
- BC driver’s license, BC services card, or similar government issued BC photo ID
- Certificate of Indian Status
- Ontario driver’s license
- Alberta driver’s license
- Permanent Resident Card
- Canadian Passport
Please note that we validate your phone number as part of the ID verification process.
You’ll know your account was successfully opened when you receive a confirmation email from us that says your application has been approved and an email to activate your digital banking.
Approved applicants will receive a Congratulations email that outlines the account they have recently opened and next steps.
Approved members are provided several next steps including:
- Instructions on how to fund the account
- A Member Card Number and directions on how to use it to access digital banking; and
- Instructions to download Vancity’s mobile app (available for both iPhone and Android).
Members can fund their accounts in several convenient ways; you can deposit funds by:
- Interac® e-Transfer
- Mobile cheque deposit through the Vancity app
- ATM deposit (once you receive your member card)
- In-branch deposit
For registered accounts, the most common approach is:
- Deposit funds into your Vancity chequing account using any of the above methods.
- Complete an additional transfer from your chequing account into your registered Jumpstart High-Interest Savings Account via Digital Banking (Desktop or Mobile App), In Branch or by calling Member Services.
Please note: All deposits to registered accounts are subject to contribution limits set by the Canada Revenue Agency (CRA). You are responsible for knowing and monitoring your individual contribution limits and ensuring that all deposits remain within your available CRA contribution limits.
The application process is completely online, and there is no need to send us anything.
Yes – if you choose to open an Online Account, your data will be secure.
For applicants who decide to open an Online Account with Vancity, your data will be securely shared with Vancity’s partner, ThirdStream. ThirdStream does not store any personal identification details.
Registered Products FAQs
Yes, eligible members can open a TFSA or RRSP Jumpstart High-Interest Savings Account online by following the steps outlined here.
Contribution limits are not verified by Vancity during the online account opening process. We recommend reviewing your available contribution room with Canada Revenue Agency (CRA) to ensure your deposits stay within your personal limit.
If you’re unsure of your available contribution room, you can check your CRA My Account or speak with a tax professional for guidance.
Yes. You can transfer funds from another financial institution into your TFSA or RRSP High Interest Savings Account. Funds cannot be deposited directly into the registered product; so, they must first be transferred into your chequing account, and then you can contribute to your registered account through a branch or via digital banking.
Promotional rates for new deposits may be offered periodically. After the promotional period ends, the regular registered Jumpstart rate will apply. You can view the regular rate here.
No, you cannot. When you open your first registered Jumpstart High Interest Savings Account (HISA), a Pay As You Go chequing account will automatically be created so you can make deposits. This will count toward the limit of two accounts per application.
However, the application takes only about five minutes to complete. Once submitted, you can open another registered account as a Vancity member through digital banking on desktop, the mobile app, or by visiting a branch.
Please be advised that in order to open a TFSA, the member must be a Canadian resident 18 years of age or older with a valid SIN number. For RRSP accounts, the member must be 71 years old or under and have filed income tax returns before and reported “earned income”.
If your application is placed under review, the review process may take up to two business days. After this, you will receive a notification via email, letting you know whether your application has been approved or not. If it’s approved, you’ll also receive a link to continue completing your process online. If it’s not approved, we invite you to visit your main Vancity branch.
Funds cannot be deposited directly into a registered account. When you open your first TFSA or RRSP Jumpstart High-Interest Savings Account, a chequing account is automatically created to securely process deposits. Once funds are in your chequing account, you can transfer money into your registered account through digital banking (desktop or mobile app), by contacting Member Services (MSC), or by visiting a branch.
This ensures your contribution is applied correctly and remains compliant with Canada Revenue Agency (CRA) rules.
Yes. After opening your first Jumpstart High Interest Savings Account (HISA) registered account online, you will become a Vancity member. Once you’re a member, you can open additional registered accounts through digital banking on desktop, the mobile app, or by visiting a branch.
Once the money is in your chequing account, you can move it into your RRSP or TFSA by transferring the funds through digital banking (Desktop or app), or by contacting our Member Services Centre or by visiting a branch.
This transfer ensures your contribution is recorded correctly and remains compliant with Canada Revenue Agency (CRA) rules for registered accounts.
No. Funding your registered account is optional at the time of opening. Your account can be opened without an initial deposit; however, it is not considered funded until money is added.
However, please note accounts that are not funded are not reported to the CRA, as they are not considered registered accounts. A plan is only registered once a contribution has been made. New contracts are reported to the CRA annually as part of the year-end process, and not funded accounts may be closed.
Troubleshooting FAQs
When a technical error occurs with the Online Account Opening application, the applicant will be prompted with an error screen. If an applicant encounters an error, they can try again or book an account opening appointment at the branch or over the phone.
There are several reasons an Online Account application may be declined or placed ‘In Review”. These reasons include fraud and credit concerns, identity verification issues, or system errors. For security reasons, we are unable to disclose specific reasons as to why your application was declined or placed in review.
No, you cannot save your application and continue it later. For security reasons, the application will time out after 20 minutes. When a timeout error occurs, you will be prompted with a time’s up screen, and all progress will be lost. As a result, the applicant will have to start a new application.
To close your account, contact us by calling our Member Services Centre or visit us at one of our branches.