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Published June 22, 2021
Updated September 15, 2021

Banking

Whether you’re looking for a high-yield savings account, a low-fee chequing account or a GIC, we’ll make your options a lot clearer.

Banking in Canada

From chequing and savings to TFSAs and more, deciding which accounts are best for you can help minimize your costs and maximize your savings.

The basics

What is a Chequing Account? How Do I Use One?

A chequing account is a bank account for everyday expenses, day-to-day transactions, withdrawals and deposits. They are “transactional” accounts.

What is a Savings Account? How Does it Work?

A savings account is a bank account that lets you store your money securely while typically earning interest. They are best for short-term financial goals.

What Is a Debit Card and How Does It Work?

Use a debit card for secure purchases and to withdraw money from an ATM. Unlike a credit card, a debit card spends money you already have in the bank.

Find the right account for you

Whether you’re saving for a trip, retirement or both, we’ll help you find the best place to put your money — no matter your financial goals.

Let us guide you

How to Open a Bank Account Online or in Person

You can open an account at a Canadian bank or credit union in person or online. You need to be aged 17 or older and have two forms of identification.

How to Use an ATM

Use an ATM to deposit cash and withdraw money with your debit card. Learn where to find ATMs and how to avoid fees when using them.

How to Write a Cheque in 5 Steps

Learn about how to write a cheque, how to use cheques, and alternatives to cheques such as online payments, credit cards, direct deposit and more.

Overdraft and Overdraft Protection Explained

An overdraft drops your bank account balance below zero and can result in fees and interest. Overdraft protection prevents a non-sufficient funds fee.
Your questions, answered

How Does CDIC Deposit Insurance Protect Your Money?

When member financial institutions fail, the Canada Deposit Insurance Corporation (CDIC) covers up to $100,000 per account in the form of free insurance.

What Is a Debit Card and How Does It Work?

Use a debit card for secure purchases and to withdraw money from an ATM. Unlike a credit card, a debit card spends money you already have in the bank.

What Is a Bank Statement?

A bank statement is a summary of your account activity during a set time period. Check your statement for errors, fees, suspicious transactions and interest earned.
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