Chequing account · Meridian Credit Union
Meridian Credit Union Everyday Chequing Package: fees and true cost
Meridian Credit Union’s Everyday Chequing Package charges $9.00/mo, or $0 with a $2,000 minimum balance, with branch: 5 · self-serve: 25 transactions. For our “Everyday” example that comes to $344 a year, #61 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 Everyday Chequing Package: $344 for the Everyday profile.
How much does Everyday Chequing Package from Meridian Credit Union cost a year?
For a typical household (43 transactions and a $1,000 low balance a month), Everyday Chequing Package costs $344 a year, #61 of 106 chequing accounts offered in Ontario. The $9 monthly fee is waived with a $2,000 minimum balance. 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 Everyday Chequing Package suit?
- Best fit: the Branch and cheques profile (teller visits, cheques, paper statement), where it ranks #20 of 94 chequing accounts offered in Ontario. It costs most for the Heavy profile: $706 a year.
- Allowance: 25 self-serve transactions a month; each one beyond that costs $1.25, so 10 more a month adds $150 a year.
- Waiver or fee? Keeping $2,000 waives the $9 fee ($108 a year). The same money at 3% (30 Day Notice Savings Account, EQ Bank) would earn about $60 a year, so holding the balance is the cheaper way to run this account.
- Versus the cheapest: for everyday use it costs $344 a year more than Personal Account (EQ Bank), $1,721 over five years.
What would it cost you in a year?
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $108 | Monthly fee $9.00 | 33 of 106 |
| Everyday Household account, a few e-Transfers | $344 | Monthly fee $9.00; extra transactions $17.69/mo | 61 of 106 |
| Heavy Lots of card, bill and e-Transfer payments | $706 | Fee waived by the balance; extra transactions $54.85/mo | 64 of 106 |
| Branch and cheques Teller visits, cheques, paper statement | $138 | Monthly fee $9.00 | 20 of 94 |
Try your own numbers in the true-cost finder. Is keeping $2,000 in the account worth it? Run it in the account-fee calculator.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $9.00/mo, or $0 with a $2,000 minimum balance |
| Included transactions | Branch: 5 · self-serve: 25 |
| 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
- Essential Chequing Package — $3.00/mo, no balance waiver
- 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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