Institution profile · Provincial Crown financial institution
ATB Financial
ActiveATB FinancialGovernment guarantee
ATB Financial is an Alberta Crown financial institution — neither a federally chartered bank nor a credit union. Its deposits are guaranteed by the Government of Alberta.
Profile facts checked October 30, 2026
Mitey files the ATB Financial index card: cheapest everyday account $0 a year.
Is ATB Financial a good bank for everyday banking?
ATB Financial’s cheapest chequing account open to anyone, Freedom Account, costs $0 a year for a typical household (25 debit purchases, 6 bills and 5 e-Transfers a month), as cheap as any account in Canada for that usage. Its best posted savings rate is 0.5% on $10,000. Its provincial government guarantees its deposits.
At a glance
- Legal name
- ATB Financial
- Type
- Provincial Crown financial institution
- Owner / parent
- Crown in right of Alberta (agent of the Crown)
- Head office
- Edmonton, AB
- Founded
- 1938 — Established by the Government of Alberta in 1938.
- Regulator
- Government of Alberta (ATB Financial Act); not OSFI
- Cheapest everyday account
- Freedom Account — $0 a year for the Everyday example
- Best posted savings rate
- 0.5% on $10,000 (Springboard Savings Account)
- Website
- www.atb.com
Is my money safe at ATB Financial?
Not a CDIC member. Repayment of deposits and interest is guaranteed by the Government of Alberta under the ATB Financial Act (s. 14). Investments through ATB Securities are not covered.
What do ATB Financial’s chequing accounts cost?
ATB Financial lists 6 chequing accounts with FCAC. For our “Everyday” example (25 debit purchases, 6 bills, 5 e-Transfers and a $1,000 low balance a month), the cheapest account open to anyone is Freedom Account at $0 a year. Accounts limited to a group are marked.
| Account | Monthly fee and waiver | Included | Fees a year |
|---|---|---|---|
| Freedom Account | No monthly fee | Unlimited | $0 |
| Generation Account | No monthly fee | Unlimited | $0 |
| Unlimited Account | $15.95/mo, or $0 with a $4,000 minimum balance | Unlimited | $191 |
| ATB Advantage Account | $24.95/mo, or $0 with a $6,000 minimum balance | Unlimited | $299 |
| Basic Account | $3.95/mo, no balance waiver | 15 a month | $443 |
| Pay As You Go Account | No monthly fee | None included (each one is charged) | $1,131 |
- Freedom Account$0
- Generation Account$0
- Unlimited Account$191
- ATB Advantage Account$299
- Basic Account$443
- Pay As You Go Account$1,131
- Cheapest in Canada: Personal Account · EQ Bank$0
- Median nationwide account$359
What would ATB Financial cost a typical household?
The cheapest ATB Financial account open to anyone for each of our four usage profiles, against the cheapest account in Canada for the same banking. Profiles are defined in the finder.
| Profile | Cheapest at ATB Financial | Fees/yr | Cheapest in Canada | Fees/yr |
|---|---|---|---|---|
| Light Mostly card and app, small balance | Freedom Account | $0 | PC Money Account PC Financial | $0 |
| Everyday Household account, a few e-Transfers | Freedom Account | $0 | Personal Account EQ Bank | $0 |
| Heavy Lots of card, bill and e-Transfer payments | Freedom Account | $0 | Personal Account EQ Bank | $0 |
| Branch and cheques Teller visits, cheques, paper statement | Freedom Account | $0 | Basic Bank Account Scotiabank | $134 |
Worked example — Freedom Account (ATB Financial), Everyday profile
| Monthly fee × 12 | $0 |
| Transactions beyond the included number (0 a month) × 12 | $0 |
| Other-bank ATM access fees (1 a month) × 12 | $0 |
| Paper statements × 12 | $0 |
| Fees a year | $0 |
Our take
Freedom Account costs nothing for typical card-and-app banking, so ATB Financial is a sound choice on fees; check access (branches and ATMs) and its savings rates before you switch.
What savings rates does ATB Financial pay?
| Account | Rate at $10,000 | Monthly fee |
|---|---|---|
| Springboard Savings Account | 0.5% | No monthly fee |
| ATB Climber Savings Account | 0.3% | No monthly fee |
What else should you know about ATB Financial?
- Founded in 1938.Source: atb.com
- Became a provincial Crown corporation on October 8, 1997 under the ATB Financial Act and operates as an agent of the Crown in right of Alberta.Source: atb.com
- The ATB Financial Act provides that the Crown in right of Alberta guarantees repayment of deposits and interest.Source: kings-printer.alberta.ca
- Alberta’s consumer guidance says ATB is covered by the Government of Alberta’s deposit guarantee.Source: alberta.ca
Your own pattern can change the order. Put your numbers into the true-cost finder to rank ATB Financial’s accounts against everyone else’s.
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