at the bank

When converting, you're not opening a new account. You'll keep your debit card, PIN, and online banking access. If you have any pre-authorized payments / deposits, they will not be disrupted.

Confirm the new account has the features you expect. 

The banker will use this as an opportunity to sell you additional services, for which you'd have to pay. In most cases you should decline, except for overdraft protection. Do not choose the monthly-fee option - choose to only pay when you overdraw.

Don't worry about getting cheques. You have better methods of transferring money (e-transfers, direct deposits, and pre-authorized payments - discussed in the KEEP UP section). If the bank offers you a few cheques for free, accept them -just in case.

Youth accounts expire after you turn 18/19

There may be a grace period of 6-12 months - call your bank to check its policy.

converting an account

when do you need to convert an account?

You will eventually lose eligibility for your youth / student account and your bank will convert it to a regular adult account. The regular account may not be the account you want and may have a monthly fee. You don't want this to happen.

Student accounts expire after 4 years

​​After 4 years, you can renew your student status for another year by showing the bank current proof of enrollment. As long as you're still enrolled, you can renew your status as many times as you like.​ Banks review student enrollment records at the start of the fall semester and will convert your account by December if you fail to notify them.

​​If you've found an account you like at your bank...

If you can't find such an account, consider opening a new one at a different bank.

When it's open, learn to KEEP UP with it and CLOSE the old account​.

before you go to the bank

Call your bank and determine the latest time you can convert your account. The bank may ask for some personal information to identify your account, so they can give you a precise answer.

Make sure you know what chequing account you'd like to convert to. 

If you're converting a youth to a student account, prepare your proof of enrollment (your acceptance letter or a valid student card).

  • ​If you are still waiting for acceptance but the grace period on your youth account expires soon, go to the bank, explain your situation and ask for an extension
  • It's better to try than to see charges on your account when you turn 18 and it converts to a regular one

Bring your debit card to the bank to identify your account.

​Pick a good time to go to the bank. The bankers are least busy when the branch opens. Even better, book an appointment.