Chequing account · Laurentian Bank of Canada
Laurentian Bank of Canada Basic account: fees and true cost
Laurentian Bank of Canada’s Basic account charges $0.00–$4.00/mo, no balance waiver, with branch: 0 · self-serve: 18 transactions. For our “Everyday” example that comes to $416 a year, #75 of 106 chequing accounts offered in Ontario.
CDICOffered in ON, QC
Fees retrieved November 1, 2026
Mitey tallies a year of Laurentian Bank of Canada’s Basic account: $416 for the Everyday profile.
How much does Basic account from Laurentian Bank of Canada cost a year?
For a typical household (43 transactions and a $1,000 low balance a month), Basic account costs $416 a year, #75 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 Laurentian Bank of Canada Basic account suit?
- Best fit: the Light profile (mostly card and app, small balance), where it ranks #21 of 106 chequing accounts offered in Ontario. It costs most for the Heavy profile: $932 a year.
- Can’t serve: the Branch and cheques profile (branch transactions not available).
- Allowance: 18 self-serve transactions a month; each one beyond that costs $1.25, so 10 more a month adds $150 a year.
- Versus the cheapest: for everyday use it costs $416 a year more than Personal Account (EQ Bank), $2,078 over five years.
What would it cost you in a year?
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $76 | Monthly fee $4.00; extra transactions $2.30/mo | 21 of 106 |
| Everyday Household account, a few e-Transfers | $416 | Monthly fee $4.00; extra transactions $28.63/mo | 75 of 106 |
| Heavy Lots of card, bill and e-Transfer payments | $932 | Monthly fee $4.00; extra transactions $69.69/mo | 76 of 106 |
| Branch and cheques Teller visits, cheques, paper statement | n/a | Can’t do: branch transactions | — |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $0.00–$4.00/mo, no balance waiver |
| Included transactions | Branch: 0 · self-serve: 18 |
| Debit purchase in Canada (beyond included) | $1.25 |
| Online or mobile bill payment | $1.00 |
| Interac e-Transfer | $1.00 |
| Online transfer between your accounts | $1.00 |
| Own-bank ATM withdrawal | $1.00 |
| Withdrawal at another institution’s ATM | $2.00 |
| ATM withdrawal in the United States | $4.00 |
| ATM withdrawal in other countries | $4.00 |
| Debit purchase in the United States | Not available |
| In-branch withdrawal | Not available |
| Bill payment in branch | Not available |
| Cheque (as a payment) | $1.25 |
| Mailed monthly statement | $3.00 |
| Non-sufficient funds (NSF) | $65.00 |
| Overdraft protection, monthly | $5.00 |
| Overdraft protection, per use | Not available |
| Overdraft interest | 22% a year |
Notes from the institution
Offered free of charge upon request with proof to newcomers during their first year in Canada, Canadians receiving social assistance under certain provincial and territorial programs, seniors receiving the Guaranteed Income Supplement (GIS) and to beneficiaries of a Registered Disability Savings Plan (RDSP).
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
Other chequing accounts at Laurentian Bank of Canada
- 65+ Plan — No monthly fee
- Chequing Account — No monthly fee
- Preferred account — $7.50/mo, no balance waiver
- Preferred account - 60+ Advantage — $2.50/mo, no balance waiver
- Preferred account - Student Advantage — No monthly fee
- Unlimited account — $14.75/mo, no balance waiver
- Unlimited account - 60+ Advantage — $9.75/mo, no balance waiver
- Unlimited account - Student Advantage — $5.75/mo, no balance waiver
- Youth Plan — No monthly fee
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Laurentian Bank of Canada’s product page
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