Why might a bank say no to a personal account in Canada?

A bank may refuse a personal account in the situations the Financial Consumer Agency of Canada lists. Those are reasonable grounds to believe you will use the account for something illegal or fraudulent, a history of illegal or fraudulent activity with financial service providers in the last 7 years, reasonable grounds to believe you knowingly made a false statement, reasonable grounds to believe a refusal is needed to protect customers or employees from physical harm, harassment, or other abuse, a branch that only offers accounts linked to an account at another institution when you do not have one, and a refusal to let the bank check that your identification is valid. If the bank says no, it must tell you in writing. It must also give its complaint procedure, how to reach the Ombudsman for Banking Services and Investments, and the agency's mailing address, website, and telephone number. These rights are for a federally regulated institution such as a bank or a federal credit union. This page does not say you will be approved.

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