Chequing account · Meridian Credit Union
Meridian Credit Union Essential Chequing Package: fees and true cost
Meridian Credit Union’s Essential Chequing Package charges $3.00/mo, no balance waiver, with branch: 5 · self-serve: 15 transactions. For our “Everyday” example that comes to $390 a year, #70 of 106 chequing accounts offered in Ontario.
Provincial insurerOffered in ON
Fees retrieved November 1, 2026
Mitey tallies a year of Meridian Credit Union’s Essential Chequing Package: $390 for the Everyday profile.
How much does Essential Chequing Package from Meridian Credit Union cost a year?
For a typical household (43 transactions and a $1,000 low balance a month), Essential Chequing Package costs $390 a year, #70 of 106 chequing accounts offered in Ontario. The monthly fee is $3. Cheaper for the same banking: Personal Account at EQ Bank ($0). Deposits are protected by a provincial credit union deposit insurer.
Who does Meridian Credit Union Essential Chequing Package suit?
- Best fit: the Branch and cheques profile (teller visits, cheques, paper statement), where it ranks #16 of 94 chequing accounts offered in Ontario. It costs most for the Heavy profile: $864 a year.
- Allowance: 15 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 $390 a year more than Personal Account (EQ Bank), $1,951 over five years.
What would it cost you in a year?
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $93 | Monthly fee $3.00; extra transactions $4.75/mo | 26 of 106 |
| Everyday Household account, a few e-Transfers | $390 | Monthly fee $3.00; extra transactions $27.51/mo | 70 of 106 |
| Heavy Lots of card, bill and e-Transfer payments | $864 | Monthly fee $3.00; extra transactions $65.01/mo | 71 of 106 |
| Branch and cheques Teller visits, cheques, paper statement | $116 | Monthly fee $3.00; extra transactions $4.13/mo | 16 of 94 |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $3.00/mo, no balance waiver |
| Included transactions | Branch: 5 · self-serve: 15 |
| Debit purchase in Canada (beyond included) | $1.25 |
| Online or mobile bill payment | No extra fee |
| Interac e-Transfer | $1.00 |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | $2.00 |
| Withdrawal at another institution’s ATM | $2.00 |
| ATM withdrawal in the United States | $3.00 |
| ATM withdrawal in other countries | $5.00 |
| Debit purchase in the United States | $3.00 |
| In-branch withdrawal | $1.25 |
| Bill payment in branch | $1.25 |
| Cheque (as a payment) | No extra fee |
| Mailed monthly statement | $2.50 |
| Non-sufficient funds (NSF) | $10.00 |
| Overdraft protection, monthly | $5.00 |
| Overdraft protection, per use | $5.00 |
| Overdraft interest | 21% a year |
Notes from the institution
FCAC retrieved information for this account from publicly available information on the financial institution's website. Product features, fees, rates and eligibility requirements may change. Please verify current account details directly with the financial institution.
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 Meridian Credit Union
- Digital Chequing Package — $14.00/mo, or $0 with a $3,000 minimum balance
- Everyday Chequing Package — $9.00/mo, or $0 with a $2,000 minimum balance
- Student Chequing Package — No monthly fee
- Unlimited Chequing Package — $19.00/mo, or $0 with a $5,000 minimum balance
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Meridian Credit Union’s product page
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