Can I open a new bank account while I am bankrupt in Manitoba?

Yes. It is strongly recommended that you open a new bank account before going bankrupt in Manitoba. This will make sure that none of your old creditors will try to take money out of your account.

A bank may not refuse to open a bank account for you unless they believe the account will be used for illegal purposes. Further information can be found on the Department of Justice Canada’s web site at http://laws.justice.gc.ca/en/B-1.01/SOR-2003-184/17979.html. Even with these rules, some banks may be hesitant to permit you to open a new bank account once you are bankrupt. Therefore, it is a good idea to open a new bank account before you go bankrupt in Manitoba. This willl give you ample time to have your payroll deposit and other items transferred to your new account before the bankruptcy starts.