Why do you need my Social Insurance Number and a personalized cheque to open an account?
As a Canadian financial institution, we must comply with federal and provincial legislation and regulations. As a virtual institution, the SIN is required so we can comply with various identity regulations, as well as income tax reporting requirements. The personal cheque is to ensure accuracy of the personal information and is a requirement due to the implementation of the Proceeds of Crime (Money Laundering) Act.
