True-cost account finder · 330 accounts
Find the bank account that costs you least
Tell us how you bank. We price every chequing and savings account listed with FCAC, plus National Bank’s — 203 chequing and 127 savings accounts from 59 banks and credit unions — and rank them by what they’d cost you in a year, waivers and extra-transaction fees included.
Fee data retrieved November 1, 2026
For this usage in all ten provinces
3 accounts would cost you $0 in fees a year. The cheapest Big Six option is RBC Advantage Banking at $155 a year.
| # | Account | Monthly fee and waiver | Included transactions | Fees a year |
|---|---|---|---|---|
| 1 | Personal Account EQ Bank CDIC | No monthly fee | Branch: 0 · self-serve: unlimited | $0 no fees at this usage |
| 2 | Wealthsimple Chequing Wealthsimple Partner-held | No monthly fee | Unlimited | $0 no fees at this usage |
| 3 | Neo Chequing account (Essentials) Neo Financial Partner-held | No monthly fee | Branch: 0 · self-serve: unlimited | $0 no fees at this usage |
| 4 | PC Money Account PC Financial CDIC | No monthly fee | Branch: 0 · self-serve: unlimited | $18 other-ATM fees $1.50/mo |
| 5 | Tangerine Chequing Account Tangerine Bank CDIC | No monthly fee | Unlimited | $18 other-ATM fees $1.50/mo |
| 6 | No Fee eChequing Account Alterna Bank CDIC | No monthly fee | Branch: 0 · self-serve: unlimited | $23 other-ATM fees $1.90/mo |
| 7 | RBC Advantage Banking Royal Bank of Canada CDIC | $12.95/mo, no balance waiver | Unlimited | $155 $12.95 monthly fee |
| 8 | CIBC Smart Account CIBC CDIC | $0.00–$16.95/mo, or $0 with a $4,000 minimum balance | Unlimited | $203 $16.95 monthly fee (waived if you keep $3,000 more) |
| 9 | RBC Signature No Limit Banking Royal Bank of Canada CDIC | $16.95/mo, no balance waiver | Unlimited | $203 $16.95 monthly fee |
| 10 | Preferred Package Scotiabank CDIC | $16.95/mo, or $0 with a $4,000 minimum balance | Unlimited | $203 $16.95 monthly fee (waived if you keep $3,000 more) |
| 11 | Primary Chequing Account with Performance Plan BMO Bank of Montreal CDIC | $17.95/mo, or $0 with a $4,000 minimum balance | Unlimited | $215 $17.95 monthly fee (waived if you keep $3,000 more) |
| 12 | The Connected | $15.95/mo, or $0 with a $4,500 minimum balance | Branch: 0 · self-serve: unlimited | $215 $15.95 monthly fee (waived if you keep $3,500 more) · other-ATM fees $2.00/mo |
| 13 | TD Unlimited Chequing Account TD Canada Trust CDIC | $17.95/mo, or $0 with a $4,000 minimum balance | Unlimited | $215 $17.95 monthly fee (waived if you keep $3,000 more) |
| 14 | Infinity Account | $16.95/mo, or $0 with a $4,000 minimum balance | Unlimited | $227 $16.95 monthly fee (waived if you keep $3,000 more) · other-ATM fees $2.00/mo |
| 15 | Primary Chequing Account with Blue Rewards Plan BMO Bank of Montreal CDIC | $17.95/mo, no balance waiver | Unlimited | $239 $17.95 monthly fee · other-ATM fees $2.00/mo |
| 16 | The Total | $28.95/mo, or $0 with a $6,000 minimum balance | Unlimited | $347 $28.95 monthly fee (waived if you keep $5,000 more) |
| 17 | Select Service | $29.95/mo, or $0 with a $5,000 minimum balance | Unlimited | $359 $29.95 monthly fee (waived if you keep $4,000 more) |
| 18 | RBC VIP Banking Royal Bank of Canada CDIC | $30.00/mo, no balance waiver | Unlimited | $360 $30.00 monthly fee |
| 19 | Primary Chequing Account with Premium Plan BMO Bank of Montreal CDIC | $30.95/mo, or $0 with a $6,000 minimum balance | Unlimited | $371 $30.95 monthly fee (waived if you keep $5,000 more) |
| 20 | Ultimate Package Scotiabank CDIC | $30.95/mo, or $0 with a $6,000 minimum balance | Unlimited | $371 $30.95 monthly fee (waived if you keep $5,000 more) |
| 21 | All-Inclusive Banking Plan TD Canada Trust CDIC | $30.95/mo, or $0 with a $6,000 minimum balance | Unlimited | $371 $30.95 monthly fee (waived if you keep $5,000 more) |
| 22 | RBC Day to Day Banking Royal Bank of Canada CDIC | $4.00/mo, no balance waiver | 12 a month | $402 $4.00 monthly fee · 22 extra transactions ($27.50/mo) · other-ATM fees $2.00/mo |
| 23 | Every Day Chequing Account TD Canada Trust CDIC | $11.95/mo, or $0 with a $3,000 minimum balance | 25 a month | $406 $11.95 monthly fee (waived if you keep $2,000 more) · 18 extra transactions ($19.88/mo) · other-ATM fees $2.00/mo |
| 24 | Basic Bank Account Scotiabank CDIC | $3.95/mo, no balance waiver | 18 a month | $412 $3.95 monthly fee · 25 extra transactions ($28.34/mo) · other-ATM fees $2.00/mo |
| 25 | Basic Plus Bank Account Scotiabank CDIC | $11.95/mo, or $0 with a $3,000 minimum balance | 25 a month | $412 $11.95 monthly fee (waived if you keep $2,000 more) · 18 extra transactions ($20.41/mo) · other-ATM fees $2.00/mo |
No institution pays to be listed or ranked here. Order comes only from the published fees and your inputs — see the methodology.
How the yearly cost is worked out
For each account we take the fees the institution lists with FCAC and apply them to your month:
- Monthly fee. Charged unless your lowest balance in the month is at or above the account’s minimum-balance waiver.
- Included transactions. Debit purchases, bill payments, e-Transfers, transfers, ATM and branch withdrawals and cheques count against the included number (one pool, or separate branch and self-serve pools when the account works that way).
- Extra transactions. Anything over the limit is charged at that kind’s listed fee, shared out in proportion to how you use each kind.
- Other-bank ATMs and paper statements. Added when you use them.
Fees a year = 12 × (monthly fee + extra-transaction fees + other-ATM fees + paper statement). Interest is estimated on your typical balance at the rate for that balance tier. Full formulas and limits are on the methodology page.
Holding a minimum balance isn’t free — that money could earn interest elsewhere. Check whether parking it beats paying the fee with the account-fee calculator.
Bundle and credit-card rebates, age or student discounts beyond the account itself, the ATM owner’s surcharge, foreign exchange, NSF and overdraft charges, and promotional interest. Always confirm on the institution’s own page before you open an account.
Frequently asked questions
What is the cheapest bank account in Canada?
It depends on how you bank. For the “Everyday” example (25 debit purchases, 6 bill payments, 5 e-Transfers and a $1,000 low balance a month), several accounts cost $0 a year in fees. Accounts that need a minimum balance to waive the fee get much cheaper once your lowest balance clears the threshold. Enter your own numbers above — the ranking updates instantly.
Where does the fee data come from?
From the Financial Consumer Agency of Canada’s Account Comparison Tool, which banks and credit unions submit their own fee data to. We retrieved every listed chequing and savings account on November 1, 2026, added National Bank (which isn’t in FCAC’s tool) from its own fee guide — 330 accounts from 59 institutions in all —, spot-checked flagship accounts against the banks’ own pages, and link each account to its product page.
What does “fees a year” include?
The monthly fee (unless your lowest balance meets the waiver), per-transaction fees once included transactions run out, other-bank ATM access fees charged by your own bank, and a paper statement fee if you want one. It does not include the ATM owner’s surcharge, foreign exchange, NSF or overdraft charges, or rebates for bundles and credit cards. Published senior, student, youth and newcomer prices are applied when you choose who’s banking.
Why is an account marked “Can’t do”?
FCAC lists the service as “Not available” for that account — for example, online-only banks have no in-branch transactions. Set that usage to zero if you don’t need it and the account will rank normally.
Do you get paid to rank accounts?
No. There is no paid placement and no affiliate link in the ranking. The order comes only from the published fees and your inputs.
Not sure which account fits?
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Educational information only, not financial, legal or tax advice. CanadianBanks.ca is independent and is not affiliated with, endorsed by or paid by any institution listed. Confirm details with the institution and the official sources linked on each page before you act. Read the full disclaimer.