Best Chequing Accounts in Canada for 2026
We analyzed Canada’s top chequing accounts based on fees, features, accessibility, and digital capabilities. Here are our top picks, along with a comprehensive comparison tool to help you choose the right account.
Rates Last Updated: April 17, 2026
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🏆 ScoopRate's Top Chequing Picks
Our top selections strike the right balance between cost, transaction flexibility, and digital tools for everyday banking in Canada.
High-Interest Chequing Account
Earn 2.25%. Pay $0.
High-interest banking designed to grow your balance, not your fees.
*Terms and conditions apply*
Money Account
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*Terms and conditions apply*
Personal Account
Earn up to 2.25%. Pay $0.
Earn more on your balance with $0 monthly fees.
*Terms and conditions apply*
✨ Welcome Offer: Earn 150,000 bonus PC Optimum™ points – worth $150! *Terms apply.
Digital-Only Bank
Money Account
Earn PC points on every purchase + no monthly fees
Monthly Fee
$0
Transactions
Unlimited EFTs, bill pay & purchases
ATM Access
Free at PC Financial & Loblaws ATMs
E-Transfers
Unlimited free send, request & receive
Overdraft
$5.00/mo + 19% APR (Only if used)
Eligibility
To get started with a PC Financial Money Account, you must:
- Be a Canadian resident
- Be at least 16 years old
- Provide a valid Social Insurance Number (SIN) (for savings feature)
- Provide employment or personal information for verification
- Complete identity verification requirements
Additional Features
Tools and benefits included with your PC Financial Money Account:
- No Fees: $0 monthly fees with unlimited transactions and free e-Transfers
- Earn Rewards: Earn PC Optimum™ points on everyday purchases and bill payments
- No FX Fees: Make purchases globally with no foreign transaction fees
- Optional Savings: Earn interest with an optional savings feature
- Bill Payments & Direct Deposit: Pay bills and receive payroll deposits
- ATM Access: Withdraw cash at PC Financial ATMs across Canada
- Mobile Wallet: Use with Apple Pay and Google Pay
- CDIC Coverage: Eligible deposits protected up to $100,000 CAD
Fee Breakdown
| Category | Fee / Description |
|---|---|
| Non-sufficient funds (NSF) fees | $10.00 per occurrence |
| ATM Withdrawals | Own: Free / Other institutions: $2.00 (Canada) / $3.00 (U.S.) / $5.00 (International) |
| Foreign Transactions | May include FX conversion fees |
| Statements | Digital: Included / Paper: $4–$5 |
Pros & Cons
Is a PC Financial Money Account Right for You?
Why It Works for You
- No monthly fees
- Unlimited free transactions
- Unlimited free Interac e-Transfers
- Earn PC Optimum™ points on everyday spending
- No foreign transaction fees
Why It Might Not Work
- No cash or cheque deposits
- No traditional debit (uses prepaid Mastercard)
- Limited full-service banking features
- Not ideal as a primary bank account
ScoopRate VerdictChoose PC Financial Money Account if you want a no-fee everyday account that earns rewards on spending and prefer a simple, digital-first experience for payments and purchases.
Digital-Only Bank
Personal Account
High-interest everyday banking with no fees and powerful savings tools
Monthly Fee
$0
Transactions
Unlimited debits & bill payments
ATM Access
5 ABM reimbursements/mo (up to $5 each)
E-Transfers
Unlimited free send, request & receive
Overdraft
Not available
Eligibility
To get started with an ATB Business account, your business must:
- Be registered and operating in Alberta
- Be a Canadian business
- Meet ATB approval and verification requirements
- Be used for business banking purposes only
Additional Features
Tools and benefits included with your Business Chequing Account:
- ATB Online & Mobile Banking: Manage your business finances with digital-first banking tools
- Moneris Integration: Accept card payments with seamless Moneris deposits
- Interac e-Transfer®: Send and receive payments for everyday business transactions
- Pay-Per-Use Simplicity: Only pay for transactions beyond your included limit
- In-Branch Access: Optional in-person banking services available for a fee
- Business Debit Card: Access funds and make purchases using your business debit card
- Monthly Statements: Access eStatements for easy tracking and record-keeping
Fee Breakdown
| Category | Fee / Description |
|---|---|
| Transactions | Electronic – $1.00 each (after 100 included electronic debits and credits) |
| Branch / Assisted – $2.50 per transaction over the Plan limit | |
| Deposits | Cash (notes) – $2.50 per $1,000 deposited |
| Coin – $2.50 per 100 deposited | |
| Cheque (ABM/Branch) – $1.00 per item | |
| Statements & Extras | E-statement – No charge |
| Paper statement – Single account – $4.00 | |
| Paper statement – Consolidated – $5.00 | |
| Interac e-Transfer | Send – $1.50 per transaction after limit |
| Receive – No charge | |
| Cancellation – $5.00 | |
| Request Money – $1.50 |
Pros & Cons
Is an ATB Business Self-Serve Account Right for You?
Why It Works for You
- Low monthly fee
- 100 free digital transactions included
- Unlimited Moneris deposits
- Simple, digital-first banking experience
Why It Might Not Work
- Fees after 100 transactions ($1 each)
- Limited free outgoing e-Transfers (10 included)
- Charges for in-branch (assisted) transactions
- Only available to Alberta-based businesses
ScoopRate Verdict
✨ Special Offer: Earn $250 when you switch your payroll deposit. *Terms apply.
Digital-Only Bank
No-fee daily Chequing Account
No-fee everyday banking with flexible tools and cashback perks
Monthly Fee
$0
Transactions
Unlimited debits, bill pay & withdrawals
ATM Access
Free access to 3,500+ Scotiabank ABMs
E-Transfers
Unlimited free send, request & receive
Overdraft
$5.00/use + 19% APR (Only if used)
Eligibility
To get started with an ATB Business account, your business must:
- Be registered and operating in Alberta
- Be a Canadian business
- Meet ATB approval and verification requirements
- Be used for business banking purposes only
Additional Features
Tools and benefits included with your Business Chequing Account:
- ATB Online & Mobile Banking: Manage your business finances with digital-first banking tools
- Moneris Integration: Accept card payments with seamless Moneris deposits
- Interac e-Transfer®: Send and receive payments for everyday business transactions
- Pay-Per-Use Simplicity: Only pay for transactions beyond your included limit
- In-Branch Access: Optional in-person banking services available for a fee
- Business Debit Card: Access funds and make purchases using your business debit card
- Monthly Statements: Access eStatements for easy tracking and record-keeping
Fee Breakdown
| Category | Fee / Description |
|---|---|
| Transactions | Electronic – $1.00 each (after 100 included electronic debits and credits) |
| Branch / Assisted – $2.50 per transaction over the Plan limit | |
| Deposits | Cash (notes) – $2.50 per $1,000 deposited |
| Coin – $2.50 per 100 deposited | |
| Cheque (ABM/Branch) – $1.00 per item | |
| Statements & Extras | E-statement – No charge |
| Paper statement – Single account – $4.00 | |
| Paper statement – Consolidated – $5.00 | |
| Interac e-Transfer | Send – $1.50 per transaction after limit |
| Receive – No charge | |
| Cancellation – $5.00 | |
| Request Money – $1.50 |
Pros & Cons
Is an ATB Business Self-Serve Account Right for You?
Why It Works for You
- Low monthly fee
- 100 free digital transactions included
- Unlimited Moneris deposits
- Simple, digital-first banking experience
Why It Might Not Work
- Fees after 100 transactions ($1 each)
- Limited free outgoing e-Transfers (10 included)
- Charges for in-branch (assisted) transactions
- Only available to Alberta-based businesses
ScoopRate Verdict
✨ Welcome Offer: Get a $300 Bonus + $50 Skip Gift Card. *Terms apply.
Digital-Only Bank
No Fee Chequing Account
Unlimited no-fee banking with free access to CIBC ABMs
Monthly Fee
$0
Transactions
Unlimited debits, bill pay & withdrawals
ATM Access
Free access to 3,000+ CIBC ATMs
E-Transfers
Unlimited free send, request & receive
Overdraft
$4.97/mo + 19% APR (Only if used)
Eligibility
To get started with a Simplii Financial No Fee Chequing Account, you must:
- Be a Canadian resident
- Be the age of majority in your province
- Have a valid Social Insurance Number (SIN)
- Provide government-issued ID for verification
- Complete identity verification and approval requirements
Additional Features
Tools and benefits included with your PC Financial Money Account:
- No Fees: $0 monthly fee with unlimited transactions
- Interac e-Transfer®: Send and receive unlimited free e-Transfers
- ATM Access: Use CIBC ATMs across Canada with no withdrawal fees
- Global Money Transfers: Send money abroad with no transfer fees
- Bill Payments: Pay bills and set up pre-authorized payments
- Direct Deposit: Get paid directly into your account
- Mobile & Online Banking: Manage your account anytime
- CDIC Coverage: Eligible deposits protected up to $100,000 CAD
Fee Breakdown
| Category | Fee / Description |
|---|---|
| Monthly Fee | $3.95 (waived at $1,500 minimum balance) |
| Transactions | $1.25 per transaction after included limit |
| Interac e-Transfer | $1.50 per transfer |
| ATM Withdrawals | Own: $1.25 / Other institutions: $2.00+ |
| Bill Payments | $1.25 per transaction after included limit |
| Debit Purchases | $1.25 per transaction after included limit |
| Overdraft Protection | $4/month + $5 per use (21% interest) |
| Non-Sufficient Funds (NSF) Fee | $48.00 |
| Deposits | Cheque & mobile deposits: Included |
| Statements | Digital: Included / Paper: $4–$5 |
Pros & Cons
Is a Simplii Financial No Fee Chequing Account Right for You?
Why It Works for You
- No monthly fees
- Unlimited free transactions
- Unlimited free Interac e-Transfers
- Access to CIBC ATM network
- Full-service banking features (wires, bill pay, etc.)
Why It Might Not Work
- No physical branch access
- Lower interest on chequing balances
- Digital-only support channels
ScoopRate VerdictChoose Simplii Financial No Fee Chequing Account if you want a no-fee, full-service chequing account with unlimited transactions and prefer a digital bank backed by CIBC.
Welcome Offer: Earn 150,000 bonus PC Optimum™ points – worth $150!
Digital-Only Bank
High-Interest Chequing Account
Earn high interest on your balance with a seamless investing experience
Monthly Fee
$0
Transactions
Unlimited debits, bill pay & withdrawals
ATM Access
Unlimited ABM fee reimbursements
E-Transfers
Unlimited free send, request & receive
Overdraft
Not available
Eligibility
To get started with a Wealthsimple Chequing Account, you must:
- Be a Canadian resident (citizen or valid visa holder)
- Be the age of majority in your province
- Have a valid Social Insurance Number (SIN)
- Provide a valid phone number for verification
- Complete identity verification requirements
Additional Features
Additional Features:
- No Fees: $0 monthly fees with no transaction, FX, or e-Transfer fees
- Earn Interest: Earn up to 2.25% interest on your balance
- Cashback Card: Earn 1% cash back on spending with the prepaid Mastercard
- ATM Access: No ATM fees with reimbursement of eligible charges
- Interac e-Transfer®: Send and receive unlimited free e-Transfers
- Bill Payments: Pay bills and set up pre-authorized payments
- Direct Deposit: Get paid directly into your account
- CDIC Coverage: Eligible deposits protected up to $1M
Fee Breakdown
| Category | Fee / Description |
|---|---|
| Transactions | Electronic – No charge |
| Branch / Assisted – $2.50 per transaction | |
| Deposits | Cash (notes) – $2.50 per $1,000 deposited |
| Coin – $5 per $100 deposited | |
| Cheque (in-branch) – $0.22 per cheque | |
| Statements & Extras | Electronic statement – No charge |
| Paper statement without images – $4.00 | |
| Paper statement with images – $5.00 | |
| Interac e-Transfer | Send – $1.50 per transaction after limit |
| Receive – No charge | |
| Cancellation – No charge | |
| Fulfill Interac Money Request – $1.50 per transaction |
Pros & Cons
Is a Wealthsimple Chequing Account Right for You?
Why It Works for You
- No monthly fees
- Unlimited free transactions
- Unlimited free Interac e-Transfers
- Earn interest on your balance
- Seamless integration with Wealthsimple investing
Why It Might Not Work
- No in-branch banking
- No cash deposit support
- Limited traditional banking services (e.g., wires)
- Not ideal for users who need full-service banking
ScoopRate VerdictChoose Wealthsimple Chequing Account if you want a no-fee, high-interest everyday account with unlimited free transactions and prefer a fully digital experience integrated with investing.
Digital-Only Bank
Essential Spending Account
Earn cash back on everyday essentials
Monthly Fee
$0
Transactions
ATM Access
ABM withdrawals via Cirrus (fees may apply)
E-Transfers
Unlimited free send, request & receive
Overdraft
KOHO Cover — $2/mo (optional)
Eligibility
To get started with a KOHO Essential Account, you must:
- Be a Canadian resident
- Be the age of majority in your province
- Have a valid phone number and email address
- Provide identity verification (government-issued ID)
- Complete account approval requirements
Additional Features
Tools and benefits included with your KOHO Essential Plan:
- No Fees: $0 monthly fee with unlimited transactions
- Cashback Rewards: Earn cash back on everyday spending
- Interac e-Transfer®: Send and receive unlimited free e-Transfers
- Spending & Budgeting Tools: Track spending and set savings goals
- Prepaid Mastercard: Spend online and in-store with a reloadable card
- Direct Deposit: Get paid directly into your account
- Mobile App: Fully manage your account through a modern mobile experience
- Upgradeable Plans: Upgrade to Extra or Everything for enhanced rewards and features
Fee Breakdown
| Category | Fee / Description |
|---|---|
| Transactions | Electronic – $1.00 each (after 100 included electronic debits and credits) |
| Branch / Assisted – $2.50 per transaction over the Plan limit | |
| Deposits | Cash (notes) – $2.50 per $1,000 deposited |
| Coin – $2.50 per 100 deposited | |
| Cheque (ABM/Branch) – $1.00 per item | |
| Statements & Extras | E-statement – No charge |
| Paper statement – Single account – $4.00 | |
| Paper statement – Consolidated – $5.00 | |
| Interac e-Transfer | Send – $1.50 per transaction after limit |
| Receive – No charge | |
| Cancellation – $5.00 | |
| Request Money – $1.50 |
Pros & Cons
Is a KOHO Essential Plan Right for You?
Why It Works for You
- No monthly fees
- Unlimited free transactions
- Unlimited free Interac e-Transfers
- Earn cash back on everyday spending
- Built-in savings and budgeting tools
Why It Might Not Work
- No cash deposit support
- Limited full-service banking features (e.g., wires)
- Lower rewards vs paid plans
- No in-branch access
ScoopRate VerdictChoose KOHO Essential Plan if you want a no-fee spending account with cashback rewards and prefer a simple, app-based experience for everyday banking.
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