Chequing account · Desjardins
Desjardins Merit Service (60 years and over): fees and true cost
Desjardins’s Desjardins Merit Service (60 years and over) charges no monthly fee, with none included (each one is charged) transactions. For our “Everyday” example that comes to $660 a year, #102 of 107 chequing accounts offered in Ontario.
Provincial insurerSeniorsOffered in ON, QC
Fees retrieved November 1, 2026
Mitey tallies a year of Desjardins’s Desjardins Merit Service (60 years and over): $660 for the Everyday profile.
How much does Desjardins Merit Service (60 years and over) from Desjardins cost a year?
For a typical household (43 transactions and a $1,000 low balance a month), Desjardins Merit Service (60 years and over) costs $660 a year, #102 of 107 chequing accounts offered in Ontario. There is no monthly fee. Cheaper for the same banking: Personal Account at EQ Bank ($0). Deposits are protected by a provincial credit union deposit insurer.
Who does Desjardins Merit Service (60 years and over) suit?
- Best fit: the Light profile (mostly card and app, small balance), where it ranks #96 of 107 chequing accounts offered in Ontario. It costs most for the Heavy profile: $1,215 a year.
- Pay per use: no transactions are included, so each debit purchase costs $1.25 — 20 a month comes to $300 a year.
- Versus the cheapest: for everyday use it costs $660 a year more than Personal Account (EQ Bank), $3,300 over five years.
What would it cost you in a year?
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $300 | No monthly fee; extra transactions $25.00/mo | 96 of 107 |
| Everyday Household account, a few e-Transfers | $660 | No monthly fee; extra transactions $53.75/mo | 102 of 107 |
| Heavy Lots of card, bill and e-Transfer payments | $1,215 | No monthly fee; extra transactions $98.75/mo | 100 of 107 |
| Branch and cheques Teller visits, cheques, paper statement | $387 | No monthly fee; extra transactions $30.00/mo | 90 of 95 |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | No monthly fee |
| Included transactions | None included (each one is charged) |
| Debit purchase in Canada (beyond included) | $1.25 |
| Online or mobile bill payment | $1.25 |
| Interac e-Transfer | $1.25 |
| Online transfer between your accounts | $1.25 |
| Own-bank ATM withdrawal | $1.25 |
| Withdrawal at another institution’s ATM | $1.25 |
| ATM withdrawal in the United States | $1.25 |
| ATM withdrawal in other countries | $1.25 |
| Debit purchase in the United States | $1.25 |
| In-branch withdrawal | $1.25 |
| Bill payment in branch | $1.25 |
| Cheque (as a payment) | $1.25 |
| Mailed monthly statement | $2.25 |
| Non-sufficient funds (NSF) | $10.00 |
| Overdraft protection, monthly | Not available |
| Overdraft protection, per use | Not available |
| Overdraft interest | Not stated |
Notes from the institution
N/A
Is the money protected?
Provincial deposit insurer. Credit union deposits are insured by the province, with limits that vary — see credit union insurance by province.
Cheaper for everyday use, at other institutions
- Personal Account (EQ Bank) — $0 a year
- Wealthsimple Chequing (Wealthsimple) — $0 a year
- 1Q Chequing Account (KEB Hana Bank Canada) — $0 a year
Other chequing accounts at Desjardins
- Desjardins Youth Profit Account — No monthly fee
- Everyday Account (without a transaction plan) — No monthly fee
- Everyday account - Basic plan — $3.95/mo, or $0 with a $1,500 minimum balance
- Everyday account - Intermediate plan — $10.95/mo, or $0 with a $3,000 minimum balance
- Everyday account - Unlimited Plus plan — $21.95/mo, or $0 with a $5,000 minimum balance
- Everyday account - Unlimited plan — $15.95/mo, or $0 with a $4,000 minimum balance
- School caisse (6 to 11 years old) — No monthly fee
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Desjardins’s product page
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