Chequing account · Laurentian Bank of Canada
Laurentian Bank of Canada Preferred account - Student Advantage: fees and true cost
Laurentian Bank of Canada’s Preferred account - Student Advantage charges no monthly fee, with branch: 0 · self-serve: 20 transactions. For our “Everyday” example that comes to $340 a year, #60 of 107 chequing accounts offered in Ontario.
CDICStudentsOffered in ON, QC
Fees retrieved November 1, 2026
Mitey tallies a year of Laurentian Bank of Canada’s Preferred account - Student Advantage: $340 for the Everyday profile.
How much does Preferred account - Student Advantage from Laurentian Bank of Canada cost a year?
For a typical household (43 transactions and a $1,000 low balance a month), Preferred account - Student Advantage costs $340 a year, #60 of 107 chequing accounts offered in Ontario. There is no monthly fee. 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 Preferred account - Student Advantage suit?
- Best fit: the Light profile (mostly card and app, small balance), where it ranks #11 of 107 chequing accounts offered in Ontario. It costs most for the Heavy profile: $857 a year.
- Can’t serve: the Branch and cheques profile (branch transactions not available).
- Allowance: 20 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 $340 a year more than Personal Account (EQ Bank), $1,701 over five years.
What would it cost you in a year?
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $0 | No monthly fee | 11 of 107 |
| Everyday Household account, a few e-Transfers | $340 | No monthly fee; extra transactions $26.34/mo | 60 of 107 |
| Heavy Lots of card, bill and e-Transfer payments | $857 | No monthly fee; extra transactions $67.40/mo | 71 of 107 |
| 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 | No monthly fee |
| Included transactions | Branch: 0 · self-serve: 20 |
| 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
None
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
- Basic account — $0.00–$4.00/mo, no balance waiver
- Chequing Account — No monthly fee
- Preferred account — $7.50/mo, no balance waiver
- Preferred account - 60+ Advantage — $2.50/mo, no balance waiver
- 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
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.