Why is my SIN required to open an account with Wealthsimple?

All registered accounts (such as a TFSA or RRSP) must be registered with the CRA. In order to register these accounts with the CRA, we require your SIN. Additionally, all non-registered accounts require that we verify your identity with a third-party credit reporting agency to follow FINTRAC identity verification rules, which also requires your SIN. Please note that this is a soft credit check and does not allow us to check your credit score.

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