Finder makes money from featured partners, but editorial opinions are our own.

Best chequing account in Canada by feature for 2024

We analyzed over 100 chequing accounts to find the best chequing accounts in Canada by fees, account minimums, interest rates, ATM access and more.

Promoted

Scotiabank Preferred Package

Scotiabank Preferred Package logo
  • Earn up to a $550 bonus
  • Unlimited transactions & free Interac e-Tranfers
  • First year annual fee waived (up to $150) on select credit cards
Go to site

To find the best chequing account in Canada, we analyzed over 100 of the most popular and most competitive Canadian chequing accounts. We compared factors such as account minimums, fees, interest rates, ATM access and other unique features to bring you the best Canadian chequing account by feature below.

The first step to finding the best chequing account in Canada for your individual needs comes down to identifying which features matter the most to you.

For some, the best chequing account will be one with no fees, for others it will be one that offers rewards with debit card purchases. But for everyone, a chequing account is an all-purpose, multi-tasking financial management tool. Read on to find the best chequing account in Canada by feature.

Quick view: Best chequing account in Canada by feature

Overall best chequing account in Canada

BMO Performance Chequing Account

Earn $600
Bonus Offer
$16.95
Monthly Account Fee
unlimited
Free Transactions
The BMO Performance Chequing Account is one of BMO's most popular chequing accounts. It offers unlimited free transactions and e-Transfers, and a generous welcome bonus (if you meet certain criteria).
  • Unlimited monthly transactions
  • Interac e-Transfers
  • $40 fee rebate on the BMO Mastercard annual fee
  • BMO will reverse the first accidental fee charged to this account
  • Up to 20 accounts can be included in the BMO Family Bundle
  • Get up to a $600 cash bonus. Earn $350 when you open a new BMO Performance Chequing Account and $200 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until February 29, 2024. Plus, earn a 5.50% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
  • Monthly fee of $16.95
  • You won't earn any interest on the money in your account.
Min. Age 18
Min. Age Teen Account 13
Account Fee $16.95
Youth Account Fee $0
# of Accounts Included 20
Overdraft Fee $5
ATM Out-of-Network Fee $2
U.S. ATM Fee $5
International ATM Fee $5

Best no-fee chequing account

Simplii No Fee Chequing Account

Earn $400
Bonus Offer
$0
Monthly Account Fee
unlimited
Free Transactions
The fully digital Simplii No Fee Chequing Account comes with no monthly account fee, no transaction fees, no e-Transfer fees, no minimum deposit requirements and a chance to earn interest on your account balance, and a debit card. Plus, pair The Simplii No Fee Chequing Account with a no-fee Simplii High Interest Savings Account and you can earn more on your savings.
  • Earn a welcome bonus of up to $400
  • Enjoy unlimited free transactions and e-Transfers
  • No monthly account fee
  • Earn 0.01% to 0.1% interest on your balance
  • No minimum deposit requirements
  • Earn a referral bonus
  • Simplii is an online only provider
  • You can only earn the welcome bonus if you're a new Simplii customer
  • Residents of Quebec cannot open a Simplii account
Min. Age 18
Min. Age Teen Account 12
Account Fee $0
Overdraft Fee $4.97
ATM Out-of-Network Fee $1.50
International ATM Fee $3

Best hybrid chequing account

EQ Bank Personal Account

Earn 4.00% interest
Bonus Offer
$0
Monthly Account Fee
unlimited
Free Transactions
If you're looking to save and spend, the EQ Bank Personal Account is a great hybrid savings and chequing account option.
  • Unlimited monthly transactions
  • Interac e-Transfers
  • Earn high interest on your savings
  • No fees on everyday banking
  • No minimum balances.
  • 100% online bank with no bank branches.
Min. Age N/A
Account Fee $0

Best day-to-day chequing account

RBC Signature No Limit Banking Account

Get Apple Watch Series 9
Bonus Offer
$16.95
Monthly Account Fee
unlimited
Free Transactions
The RBC Signature No Limit Banking Account is one of RBC's most popular chequing accounts and makes for a powerful day-to-day account. It comes with unlimited transactions and free Interac e-Transfers, as well as other perks for a monthly fee. Other unique benefits include free bank drafts, personalized cheques, rebates on basic credit card fees (up to $39) and no monthly overdraft fees. You'll also get reimbursements for non-RBC ATM fees (up to a monthly limit).
  • Unlimited debit transactions
  • Non-RBC ATM rebates
  • Free Interac e-Transfers
  • Credit card fee waivers
  • Earn RBC Avion points
  • Overdraft protection.
  • Monthly fee
  • Caps on certain perks.
Min. Age N/A
Account Fee $16.95
ATM Out-of-Network Fee $2

Best budget chequing account at a Big 5 Bank

Scotiabank Basic Bank Account

N/A
Bonus Offer
$3.95
Monthly Account Fee
12/month
Free Transactions
The Scotiabank Basic Bank Account offers a cheap alternative to a traditional bank account, and therefore makes a powerful budget bank account. It gives you a number of free transactions per month for a low monthly fee. You can also earn points toward the Scene+ rewards program.
  • Low monthly fee
  • Limited free transactions per month
  • $0 Interac e-Transfers
  • Free Scotiabank ATM withdrawals
  • Easy-to-use mobile app.
  • No interest on savings
  • Fee for exceeding transaction limit
  • Non-Scotiabank ATMs cost money
  • No welcome bonus.
Min. Age 16
Account Fee $3.95
Overdraft Fee $5
ATM Out-of-Network Fee $2
U.S. ATM Fee $3
International ATM Fee $5
Dormancy Fee $20

Best premium chequing account

BMO Performance Chequing Account

Earn $600
Bonus Offer
$16.95
Monthly Account Fee
unlimited
Free Transactions
The BMO Performance Chequing Account is a premium chequing account that offers unlimited free transactions and e-Transfers, and a generous welcome bonus (if you meet certain criteria). Other premium perks include credit card rebates and the ability to bundle BMO accounts with the BMO Family Bundle.
  • Unlimited monthly transactions
  • Interac e-Transfers
  • $40 fee rebate on the BMO Mastercard annual fee
  • BMO will reverse the first accidental fee charged to this account
  • Up to 20 accounts can be included in the BMO Family Bundle
  • Get up to a $600 cash bonus. Earn $350 when you open a new BMO Performance Chequing Account and $200 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until February 29, 2024. Plus, earn a 5.50% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
  • Monthly fee of $16.95
  • You won't earn any interest on the money in your account.
Min. Age 18
Min. Age Teen Account 13
Account Fee $16.95
Youth Account Fee $0
# of Accounts Included 20
Overdraft Fee $5
ATM Out-of-Network Fee $2
U.S. ATM Fee $5
International ATM Fee $5

Best day-to-day account with cash back

Neo Money Account

4%
Interest Rate
$0
Account Fee
$0
Transaction Fee
The Neo Money Account allows you to spend, save, and earn from one account. You'll earn interest on your savings and there are no minimum deposit requirements, account fees or transaction fees. Download the Neo app and sign up in a matter of minutes, all from the comfort of your own home.
  • Hybrid account that works like a chequing and savings account
  • High ongoing interest rate
  • Free unlimited transactions
  • No minimum balance
  • No account fee
  • Online only with no physical branches
  • Doesn't come with a debit card, though does come with the Neo Money Card
  • Not available to residents of Quebec
Min. Age 18
Account Fee $0
Transaction Fee $0
Interac e-Transfer Fee $0
NSF Fee $0
International ATM Fee

Best chequing account in Canada with perks

Scotiabank Basic Plus Bank Account

N/A
Bonus Offer
$11.95
Monthly Account Fee
25/month
Free Transactions
As the name suggests, the Scotiabank Basic Plus Bank Account is a no-frills account that comes with 25/month transactions and $0 e-Transfers. While it has a monthly account fee of $11.95, you can have the monthly account fee will be waived if you have at least $3,000 in your account at all times.
  • $0 e-Transfers
  • Access to Scotiabank's basic account features including free credit score reports.
  • Limited monthly transactions
  • Monthly fee
  • No welcome offer.
Min. Age 16
Account Fee $11.95
Overdraft Fee $5
ATM Out-of-Network Fee $2
U.S. ATM Fee $3
International ATM Fee $5

Best chequing account for ATM Access

RBC Signature No Limit Banking Account

Get Apple Watch Series 9
Bonus Offer
$16.95
Monthly Account Fee
unlimited
Free Transactions
The RBC Signature No Limit Banking Account is one of RBC's most popular chequing accounts. It comes with unlimited transactions and a host of other perks for a monthly fee. Notable benefits include free bank drafts, personalized cheques, rebates on basic credit card fees (up to $39) and no monthly overdraft fees. You'll also get free Interac e-Transfers and reimbursements for non-RBC ATM fees, up to a monthly limit.
  • Unlimited debit transactions
  • Non-RBC ATM rebates
  • Free Interac e-Transfers
  • Credit card fee waivers
  • Earn RBC Avion points
  • Overdraft protection.
  • Monthly fee
  • Caps on certain perks.
Min. Age N/A
Account Fee $16.95
ATM Out-of-Network Fee $2

Best chequing account for student travellers

Scotiabank Student Banking Advantage Plan

Earn $100
Bonus Offer
$0
Monthly Account Fee
unlimited
Free Transactions
With features like unlimited, free debit transactions and Interac e-Transfers, the Scotiabank Student Banking Advantage Plan will let you go about your business without having to worry about usage limits. What's more, this account is also free for students enrolled in post-secondary school across North America, and it comes with a generous signup bonus.
  • Earn a welcome bonus of 12,500 Scene+ points
  • No account fee for full-time post-secondary students
  • Enjoy unlimited free transactions and e-Transfers
  • Earn Scene+ points on debit transactions.
  • Not free for part-time students
  • You must verify that you're a student each year.
Min. Age 16
Account Fee $0
Overdraft Fee $5
ATM Out-of-Network Fee $2
U.S. ATM Fee $3
International ATM Fee $5
Dormancy Fee $20

Best chequing account in Canada with debit rewards

RBC VIP Banking Account

Get Apple Watch Series 9
Bonus Offer
$30
Monthly Account Fee
unlimited
Free Transactions
The RBC VIP Banking Account is an all-inclusive chequing account that lets you make unlimited transactions worldwide and ATM withdrawals—and allows you to earn valuable Avion points with every debit card purchase. It also includes additional perks such as free bank drafts, complimentary personal and certified cheques, a fee waiver for an RBC premium credit card and use of a safety deposit box.
  • Earn Avion points with debit card purchases
  • Save up to $120 per year when you sign up for a premium RBC credit card
  • Unlimited debit transactions worldwide
  • Free Interac e-Transfers
  • Earn Avion points
  • Special rebates
  • Overdraft protection
  • Free use of a safety deposit box
  • Free bank drafts
  • Welcome offer.
  • Monthly fee
  • Caps on certain perks.
Min. Age N/A
Account Fee $30
ATM Out-of-Network Fee $0
Dive deeper RBC Debit Card review

Best chequing account with Aeroplan Card rebates

CIBC Smart Plus Account

N/A
Bonus Offer
$29.95
Monthly Account Fee
N/A
Free Transactions
The CIBC Smart Plus Account is ideal for hefty bank service users and routine travellers and comes with free banking services. Bank drafts, stop payments, money orders and personalized cheques are free for CIBC Smart Plus Account holders. Plus, CIBC's overdraft protection service is included at no additional cost.
  • Unlimited free transactions
  • Unlimited free Interac e-transfers
  • $0 for using non-CIBC ATMs:Can bundle balances across savings and investment accounts to be eligible for the monthly fee waiver.
  • Monthly fee
  • Caps on certain perks.
Min. Age N/A
Account Fee $29.95
ATM Out-of-Network Fee $0

Best student chequing account

BMO Performance Chequing Account

Earn $600
Bonus Offer
$16.95
Monthly Account Fee
unlimited
Free Transactions
The BMO Performance Chequing Account is one of BMO's most popular chequing accounts for students as well. It offers unlimited free transactions and e-Transfers, and a generous welcome bonus (if you meet certain criteria) And students get access to mobile banking and pay no monthly fees while in school and for one year after graduating.
  • Unlimited monthly transactions
  • Interac e-Transfers
  • $40 fee rebate on the BMO Mastercard annual fee
  • BMO will reverse the first accidental fee charged to this account
  • Up to 20 accounts can be included in the BMO Family Bundle
  • Get up to a $600 cash bonus. Earn $350 when you open a new BMO Performance Chequing Account and $200 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until February 29, 2024. Plus, earn a 5.50% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
  • Monthly fee of $16.95
  • You won't earn any interest on the money in your account.
Min. Age 18
Min. Age Teen Account 13
Account Fee $16.95
Youth Account Fee $0
# of Accounts Included 20
Overdraft Fee $5
ATM Out-of-Network Fee $2
U.S. ATM Fee $5
International ATM Fee $5

Best student hybrid chequing account

Scotiabank Student Banking Advantage Plan

0%
Interest Rate
$0
Account Fee
unlimited
Transaction Fee
Learning to spend wisely and save habitually are critical skills, but for students who want to take the step towards investing, this account is ideal.
  • Free Transactions: Unlimited (including debit, Interac e-transfers, bill payments)
  • Bonus Offer: $75 cash and up to 7,500 SCENE points + $4.99 per trade and trade 1 get 1 free as Scotia iTrade
  • Earned SCENE points can be redeemed at various restaurants and movie theatre
  • Access to more than 3,400 Scotiabank ATMs (at no charge)
  • Fee-free cash withdrawals at ATMs worldwide using Global ATM Alliance machines
  • Mobile banking
  • Get 20 free trades (stock or ETF) on the mobile app in your first year and 10 free trades every year after
  • Works with Apple Pay, Google Pay and Samsung Pay
  • Only available to full-time post-secondary students
  • Need to reconfirm your status as a full-time post-secondary student every year (before November 30)
  • Need to pay for overdraft protection (either $5 per month or per use)
Min. Age N/A
Account Fee $0
Transaction Fee unlimited
Interac e-Transfer Fee N/A

Best teenager’s chequing account

BMO Performance Chequing Account

Earn $600
Bonus Offer
$16.95
Monthly Account Fee
unlimited
Free Transactions
The BMO Performance Chequing Account is not strictly a bank account for teenagers; however, if you are looking for ways to get a premium bank account, but minimize the fees paid by your family, then this might be the perfect account for you and your teen. With the BMO Performance Chequing Account Family Bundle, only the parent pays the monthly banking fee and all other account holders enjoy no monthly fees. This BMO account offers unlimited no-fee daily banking, which includes unlimited, no-fee transactions and Interac e-Transfers. The best part is that each account is separate and private, so your teenager can't see your account and you can't see your teen's bank account.
  • Unlimited monthly transactions
  • Interac e-Transfers
  • $40 fee rebate on the BMO Mastercard annual fee
  • BMO will reverse the first accidental fee charged to this account
  • Family bundle means no-fee bank account for teens
  • Up to 20 accounts can be included in the BMO Family Bundle
  • Get up to a $600 cash bonus. Earn $350 when you open a new BMO Performance Chequing Account and $200 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until February 29, 2024. Plus, earn a 5.50% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account., when you add a no-fee BMO Savings Amplifier Account
  • Primary account holder in the BMO Family Bundle must be 18 or older
  • Monthly fee of $16.95 when balance is less than $4,000
  • 0% interest rate on deposits
  • $5 debit and e-Transfer transaction fee
  • $2 out of network ATM fee
Min. Age 18
Min. Age Teen Account 13
Account Fee $16.95
Youth Account Fee $0
# of Accounts Included 20
Overdraft Fee $5
ATM Out-of-Network Fee $2
U.S. ATM Fee $5
International ATM Fee $5

Best kids day-to-day chequing account

National Bank Modest Chequing Account

N/A
Bonus Offer
$10.95
Monthly Account Fee
30/month
Free Transactions
For kids that want a grown-up account without the monthly fees, check out National Bank's Modest Chequing account. It comes with 30 free digital transactions and kids pay no fees until they reach their 25th birthday.
  • No fees (until 25th birthday)
  • Unlimited transactions, including e-transfers
  • Completely online process.
  • Limited transactions
  • Fees for branch transactions
  • Maintaining minimum balance to avoid fees (only if you're aged 25&ndash
  • 59)
  • Limited range of benefits and features.
Min. Age N/A
Account Fee $10.95
Overdraft Fee $5
ATM Out-of-Network Fee $2

Best kids hybrid savings and chequing account

BMO Performance Chequing Account

Earn $600
Bonus Offer
$16.95
Monthly Account Fee
unlimited
Free Transactions
The BMO Plus Chequing Account (Kids Plan) is a mid-level account that comes with 25/month free for no monthly fee. You'll also get unlimited free Interac e-Transfers and a welcome bonus. With the BMO Kids Plus Plan, kids under the age of 19 get both a chequing and a savings account, which helps you start teaching your child the difference between day-to-day banking and the importance of saving.
  • No monthly fee
  • Comes with a kids' debit card
  • 25 free transactions per month
  • Unlimited e-transfers.
  • Low earn rate on savings account balance.
Min. Age 18
Min. Age Teen Account 13
Account Fee $16.95
Youth Account Fee $0
# of Accounts Included 20
Overdraft Fee $5
ATM Out-of-Network Fee $2
U.S. ATM Fee $5
International ATM Fee $5

Best BC credit union chequing account

Coast Capital Free Chequing, Free Debit, and More Account

Earn 20% cashback
Bonus Offer
$0
Monthly Account Fee
unlimited
Free Transactions
The Coast Capital Free Chequing, Free Debit, and More Account comes with no monthly account fees, no minimum balance requirements and unlimited free transactions. Just be aware that you'll have to pay fees for basic services such as paper statements and Interac e-Transfers.
  • No monthly fee
  • Unlimited free transactions
  • No minimum balance required
  • Deposit cheques on the app from your phone
  • Withdraw money free of charge from 4,000+ ATMs across Canada.
  • e-transfers cost $1.50 each
  • Only available to BC residents.
Min. Age 19
Account Fee $0
Overdraft Fee $5
ATM Out-of-Network Fee $10
U.S. ATM Fee $2.50
International ATM Fee $5
Dormancy Fee $1.50

Best newcomers chequing account package

National Bank Newcomer Bank Account

N/A
Bonus Offer
$0
Monthly Account Fee
unlimited
Free Transactions
Eligibility: Must open an account up to 90 days before you arrive in Canada or within five years of your arrival in Canada. Must be 18 years of age or older and the only user of the account.
Free transactions: Unlimited electronic transactions, free branch transactions for the first year and then $1.50 per branch transaction in subsequent years.
E-transfer fee: $0.
Monthly account fee: $0 for up to three years, $15.95 from year four onwards.
Bonus offer or perks: Exclusive phone support for newcomers, international transfers with Mastercard and Interac international transfers
Credit card (yes/no): Yes.
  • Exclusive phone assistance for newcomers
  • Monthly fee waived for up to three years
  • Get a Canadian credit card without credit history
  • Need to sign up for additional products or services to have monthly fee waived
  • $15.95 monthly fee once discount period ends
  • No interest on your bank balance
Min. Age N/A
Account Fee $0
Overdraft Fee $0

Canadians plan to open a chequing account in 2023

In January 2023, Finder asked more than 1,840 Canadians about their financial plans in 2023. When asked what type of bank accounts and banking products respondents planned to open in the first three months of 2023, almost 1 in 5 Canadians (17%) said they planned to open a chequing account.

However, as interest rates remained high and overall living costs continued to erode Canadian budgets, there appeared to be a renewed focus on how to save on fees and reduce ongoing costs. As a result, the number of Canadians that plan to open a chequing account rose from the Q1 2023, to Q2 2023. According to results from the Finder: Consumer Sentiment Tracker Q2, 22% of respondents plan to open a chequing account — overall a 29% increase in how many Canadians planning to open a chequing account.

How to find the best chequing account in Canada for you

As your primary day-to-day bank account, a chequing account allows you to deposit funds, pay bills, send electronic transfers and set up automatic payments, among other transactions. But chequing accounts typically come with fees – transactional, monthly and per service. To keep your costs low while getting the flexibility to manage your money as you’d like, you need to find the best chequing account for your needs. When you’re shopping around, look for chequing accounts that have one or more of the following features:

Best bank chequing account in Canada options that waive credit card fees

There are many ways to reduce or eliminate annual credit card fees and one of the easiest ways is to open a day-to-day bank account attached to your favourite credit card.

Turns out each of Canada’s biggest banks offers a way to reduce credit card fees through their banking products, but not all banking packages are created equal. Since exclusions, fees and perks can vary widely, it’s best to select the bank with the best chequing account and credit card rebate that fits your needs and budget. For a quick snapshot, check out our comparison of premium chequing accounts in Canada.

To help, here’s a list of the 2024 current offers:

Bank + chequing accountMonthly feeMax rebateDetails
BMO Performance Chequing Account$16.95$40
  • $4,000 min account balance to waive monthly fee
  • Rebate on one BMO credit card not including BMO eclipse Visa Infinite Privilege
BMO Premium Plan Chequing Account$30$150
  • $6,000 min account balance to waive monthly fee
  • Full annual fee waiver on one BMO credit card of your choice, including BMO Ascend World Elite Mastercard, BMO eclipse Visa Infinite, BMO Miles World Elite Mastercard, BMO CashBack World Elite Mastercard
  • No rebate on BMO eclipse Visa Infinite Privilege
CIBC Smart Plus Account$29.95$139
  • min account balance to waive Chequing Account monthly fee
  • Full rebate on one CIBC credit card: CIBC Dividend, CIBC Aventura, CIBC Aeroplan Visa Infinite
  • Partial rebate on: CIBC Aventura Visa Infinite Privilege, CIBC Aeroplan Visa Infinite Privilege
HSBC Premier Chequing Account$34.95$50
  • $6,500 min account balance + $100,000 or more in investable assets to waive monthly fee or personal mortgage greater than $500,000
National Bank Connected Account$15.95$30
  • $4,500 min account balance + Chequing Account monthly fee
  • The rebate is an account credit rather than a waived fee
National Bank The Total Chequing Account$28.95$150
  • $6,000 min account balance to waive Chequing Account monthly fee
  • The rebate is an account credit rather than a waived fee
RBC Signature No Limit Banking Account$16.95$48
  • Monthly account fee drops to $10.95 per Chequing Account month with multi-product rebate
  • Partial rebate on one credit card, including: RBC Avion Visa Platinum, RBC Avion Visa Infinite, RBC Avion Visa Infinite Privilege, RBC British Ariways Visa Infinite, RBC Westjet World Elite Mastercard
RBC VIP Banking Account$30$120
  • Monthly account fee drops to $19.95 per Chequing Account month with multi-product rebate
  • Full rebate on one credit card, including: RBC Avion Visa Platinum, RBC Avion Visa Infinite, RBC Westjet World Elite Mastercard
  • Partial rebate on RBC Avion Visa Infinite Privilege
  • Full rebate (up to $165) on RBC British Ariways Visa Infinite
Scotiabank Preferred Package$16.95$150
  • $4,000 min account balance to waive Chequing Account monthly fee
  • Get retroactive rebate if you open chequing account after credit card
  • Rebate for first year only
  • Rebate on one credit card, up to $150: Scotiabank Gold American Express, Scotiabank Passport Visa Infinite, Scotiabank Momentum Visa Infinite, Scotiabank Value Visa
Scotiabank Ultimate Package$30.95$150
  • $5,000 min account balance to waive Chequing Account month with multi-product rebate
  • Get retroactive rebate if you open chequing account after credit card
  • Ongoing annual rebate on one credit card, up to $150: Scotiabank Gold American Express, Scotiabank Passport Visa Infinite, Scotiabank Momentum Visa Infinite, Scotiabank Value Visa
TD Unlimited Chequing Account$16.95$139
  • $4,000 min account balance to waive Chequing Account month with multi-product rebate
  • Rebate for first year only
  • Rebate on one credit card, up to $139: TD Visa Infinite, TD Visa Platinum, TD Aeroplan Visa Infinite, TD Aeroplan Visa Platinum, TD First Class Travel Visa Infinite
TD All-Inclusive Banking Plan$29.95$139
  • $5,000 min account balance to waive Chequing Account month with multi-product rebate
  • Ongoing annual rebate on one credit card, up to $139: TD Visa Infinite, TD Visa Platinum, TD Aeroplan Visa Infinite, TD Aeroplan Visa Platinum, TD First Class Travel Visa Infinite
HSBC Advance Chequing Account$25$25
  • $5,000 min account balance or personal mortgage greater than $500,000 to waive monthly fee

Compare more premium chequing accounts in Canada

Feature accountMonthly feeMin balance (or equivalent)Earn rateCredit card rebateOther ways to save
BMO Premium$30$6,000Up to 2.5%$150
  • Military
CIBC Smart Plus$29.95$6,000Up to 2.3%$139
  • Investments
HSBC Premier$34.95$6,000n/a$50
  • Investments
  • Income
  • Mortgage
National Bank The Total$26.95$6,000Up to 2.5%$150n/a
Scotiabank Ultimate$30.95$5,0002.8%$150n/a
TD All-Inclusive$29.95$5,0002.8%$139n/a
RBC VIP$30n/an/a$120
  • Investments
  • Mortgage

Bottom line

One final task to consider before selecting the best chequing account in Canada to meet your needs – consider the promos.

Multiple times each year, almost every banking institution – including banks, credit unions, digital money accounts and fintech disruptors – will offer new clients enticing account promotions. Don’t ignore these. While a promotion shouldn’t dictate what account you open, it should help you decide how fast to pull the trigger on opening a new chequing account.

To find the best chequing account promotions, we recommend creating a list of your top two or three chequing accounts based on your needs and budget. Armed with this list, spend a few minutes reading about the account and the current promo. Only pick an account that offers the best product for a cost-effective rate – and keep the promotion as a sign-up perk (to motivate you to complete the account application).

Remember, a chequing account is your day-to-day financial management tool. If you find an account that lets you bank efficiently and use tools effectively, you can save costs and use your money in the best way possible – based on your budget and your plan.

Knowing how to compare chequing accounts with multiple providers can help you narrow your options and find the account that best fits your lifestyle.

Survey Methodology – Finder: Consumer Sentiment Tracker Q1 2023

The results of the Finder: Consumer Sentiment Tracker Q1 were collected through an online Pollfish survey conducted between December 2022 and January 2023. In the survey, 1,846 Canadians from across the country were asked about their current banking services and their intentions and motivations for new banking products. The estimated margin of error for the survey is +/- 3%, with a 99% confidence level.

Survey Methodology – Finder: Consumer Sentiment Tracker Q2 2023

The results of the Finder: Consumer Sentiment Tracker Q2 were collected through an online Pollfish survey conducted between April 27 to 29, 2023. In the survey, 1,011 Canadians from across the country were asked about their current banking services and their intentions and motivations for new banking products. The estimated margin of error for the survey is +/- 3.08%, with a 99% confidence level.

Best chequing account in Canada FAQs

More guides on Finder

Ask an Expert

You must be logged in to post a comment.

Go to site