Best No-Fee Chequing Accounts in Canada

No monthly fees. We specifically look for accounts that don’t have conditions, like account balance minimums, in order to avoid a flat monthly fee. 

No fees for basic transactions. That means unlimited withdrawals, debit purchases, Interac e-transfers and bill payments without incurring any additional charges. Some chequing account options offer free transactions (debit, digital, ATM, etc.) per month, up to a limit. That’s as good as free — if you never exceed those limits. 

Robust digital tools. We look for an app with good ratings and helpful features, such as mobile cheque deposit, and a website that’s easy to navigate.

ATMs that are free. The best chequing accounts don’t charge for withdrawals. We also prefer banks using an ATM network with many locations, which helps you avoid out-of-network fees. 

Perks (free money). You could snag a sign-up promotion of a few hundred dollars or a debit card that earns cash back for certain spending categories.    

Fees you can’t avoid. Steer clear of any account that charges extra fees for using it the way you intend to. 

Apps and websites that are hard to navigate. For example, if a website makes it hard to find info on rates and fees, or if the app has a low rating, we don’t rank it as highly.

Small number of in-network ATMs. Getting cash from out-of-network ATMs is costly. 

Where will you get cash? We look at the total number of branch locations and in-network ATMs, but you could personalize your search further by looking for locations near the places you live and work.

Are you eligible for another type of no-fee account? No-fee accounts are widely available. Seniors and students have access to accounts that are unique to them. In some cases, they have qualifications that are easier to meet. If you are 60 or older or are in school, include these accounts in your search.