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 20, 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 up to 2.25%. Pay $0.
High-interest banking designed to grow your balance, not your fees.
*Terms and conditions apply*
Money Account
Earn 150,000 PC points
Get a $150 value in PC Optimum™ points when you open an account.
*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*
✨ 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
- Have a valid Social Insurance Number (SIN)
- Provide employment or personal information for verification
Optional Information:
- Have your PC Optimum™ number (to link and earn rewards)
Additional Features
Tools and benefits included with your PC Financial Money Account:
- Welcome Offer: Earn 150,000 bonus PC Optimum™ points by setting up a min. $1,500 payroll or pension direct deposit for 3 consecutive months. *Offer subject to change. See PC Financial for full terms and conditions.*
- Free Everyday Banking: No monthly fees and no minimum balance required
- Earn PC Optimum™ Points: Earn points on every dollar you spend and redeem them at over 4,500 stores nationwide
- Fund Instantly: Add money with Interac e-Transfer® deposits or set up payroll direct deposit
- Bill Payments & Pre-Authorized Debits: Pay bills or set up recurring withdrawals directly from your account
- ATM Withdrawals: Free at PC Financial ATMs; $1.50 per transaction at non-PC Financial ATMs
- Worldwide Purchases: Make purchases anywhere in the world with no foreign exchange transaction fees
- Savings Feature: Transfer funds to Savings and start earning 2.2% daily interest on your balance
- Apple Pay® & Google Pay™ Compatible: Make secure, contactless payments from your mobile device
- CDIC Coverage: Eligible deposits protected up to $100,000 CAD
Fee Breakdown
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
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
✨ 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
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
✨ 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
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.
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 open a Wealthsimple Chequing Account, you must:
- Live in Canada as a Canadian citizen or with a valid Canadian visa
- Meet the minimum age requirement for your province or territory†
- Have a valid Social Insurance Number (SIN)
- Have a valid phone number
†Age Requirements: Each province and territory has a minimum age requirement to open an account:
- Minimum Age 18: Alberta, Manitoba, Ontario, Prince Edward Island, Quebec, Saskatchewan
- Minimum Age 19: British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Yukon
Additional Features
Additional Features:
- Free Everyday Banking: No monthly fees or minimum balance, with unlimited daily transactions
- Earn Interest: Earn up to 2.25% interest on your balance. *Rate subject to change. See Wealthsimple for full terms and conditions.*
- Free ATM Withdrawals: ATM fees reimbursed across Canada (up to $5 per withdrawal)
- Interac e-Transfer®: Send, receive & request unlimited free e-Transfers
- No Foreign Exchange Fees: No FX transaction fees when spending abroad
- Bill Payments: Pay bills and set up pre-authorized payments
- Mobile Cheque Deposit: Easily deposit cheques in the app using your phone’s camera
- Wire Transfers: Send wire transfers throughout Canada and the U.S. with low, flat-rate fees
- CDIC Coverage: Eligible deposits protected up to $1M – 10× the standard CDIC limit
Fee Breakdown
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
- 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.
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