Chequing account · ICICI Bank Canada
ICICI Bank Canada Basic Chequing Account: fees and true cost
ICICI Bank Canada’s Basic Chequing Account charges $4.00/mo, no balance waiver, with unlimited transactions. For our “Everyday” example that comes to $66 a year, #15 of 106 chequing accounts offered in Ontario.
CDICOffered in AB, BC, MB, NS, ON
Fees retrieved November 1, 2026
Mitey tallies a year of ICICI Bank Canada’s Basic Chequing Account: $66 for the Everyday profile.
How much does Basic Chequing Account from ICICI Bank Canada cost a year?
For a typical household (43 transactions and a $1,000 low balance a month), Basic Chequing Account costs $66 a year, #15 of 106 chequing accounts offered in Ontario. The monthly fee is $4. Cheaper for the same banking: Personal Account at EQ Bank ($0). Eligible deposits are insured by CDIC up to $100,000 per category.
Who does ICICI Bank Canada Basic Chequing Account suit?
- Best fit: the Everyday profile (household account, a few e-transfers), where it ranks #15 of 106 chequing accounts offered in Ontario. It costs most for the Heavy profile: $84 a year.
- Can’t serve: the Branch and cheques profile (cheques not available).
- Allowance: unlimited everyday transactions, so heavier use doesn’t add fees.
- Versus the cheapest: for everyday use it costs $66 a year more than Personal Account (EQ Bank), $330 over five years.
What would it cost you in a year?
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $48 | Monthly fee $4.00 | 16 of 106 |
| Everyday Household account, a few e-Transfers | $66 | Monthly fee $4.00 | 15 of 106 |
| Heavy Lots of card, bill and e-Transfer payments | $84 | Monthly fee $4.00 | 17 of 106 |
| Branch and cheques Teller visits, cheques, paper statement | n/a | Can’t do: cheques | — |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $4.00/mo, no balance waiver |
| Included transactions | Unlimited |
| Debit purchase in Canada (beyond included) | No extra fee |
| Online or mobile bill payment | No extra fee |
| Interac e-Transfer | No extra fee |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | No extra fee |
| Withdrawal at another institution’s ATM | $1.50 |
| ATM withdrawal in the United States | $3.00 |
| ATM withdrawal in other countries | $3.00 |
| Debit purchase in the United States | No extra fee |
| In-branch withdrawal | No extra fee |
| Bill payment in branch | $1.00 |
| Cheque (as a payment) | Not available |
| Mailed monthly statement | No extra fee |
| Non-sufficient funds (NSF) | $10.00 |
| Overdraft protection, monthly | Not available |
| Overdraft protection, per use | Not available |
| Overdraft interest | Not stated |
Interest
| Balance | Rate (annual) |
|---|---|
| $2,500 and up | 0.15% |
Notes from the institution
Withdrawal transactions: Unlimited Deposit transactions: Free and unlimited Access your funds: Online, by phone, in-branch or at over 3000+ ABMs located at our branches or on THE EXCHANGE® Network Paper statement: Free TEXT ALERTS service: Receive instant text messages on your mobile phone confirming credit or debit transactions of $1 or more, upon registration Money Transfers: Low cost money transfers to India and other countries Transfer money online between your linked accounts: Link your Basic Chequing Account with up to 3 external chequing accounts at any Canadian financial institution fo
Is the money protected?
CDIC member. Eligible deposits are covered up to $100,000 per category at each CDIC member — see the deposit safety tool.
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
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · ICICI Bank Canada’s product page
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