• Best No Fee Chequing Accounts in Canada

    Below we have ranked the absolute best no fee chequing accounts in Canada. Only a few of Canada's banks provide a true no fee chequing account for Canadians, other banks require that you meet a minimum balance each month, or sign up for multiple products to qualify for free chequing. Banks such as PC Financial and ING Direct offer a true free daily chequing account, whereas other major banks like RBC, CIBC, Scotiabank, BMO and TD Canada Trust have some requirements Canadians must meet to qualify for a no fee daily chequing account.

    PC Financial No Fee Unlimited Chequing Account Canada #1

    Presidents Choice Financial clearly offers Canadians the best no fee chequing account option among many other great banking products they offer. PC Financial was formed in partnership with CIBC and Loblaws Superstores. Primarily an online bank at first, PC Financial has grown and customers are able to access all CIBC bank machines for deposits, withdrawals and bill payments absolutely free. You can also get extended banking services at Kiosks located in most Loblaws Superstores across Canada or bank online. The best part about the PC Financial no fee chequing account is that you get a built in loyalty program to redeem PC Points for groceries at Loblaws stores, earn interest on your chequing account balances and receive free cheque books. The PC Financial chequing account allows for unlimited transactions online or at CIBC machines with no monthly fee. Full PC Financial No Fee Chequing Account Review

    ING Direct Thrive No Fee Unlimited Chequing Account Canada #2

    ING Direct known as primarily an online savings bank, has now released a great no fee chequing account called Thrive. ING Direct has started a relationship with the Exchange ATM Network so ING Thrive account holders can make deposits, withdrawals and bill payments online, as well as at ATMs close by. There are over 2,000 Exchange ATMs across Canada and its easy to find one close by on ING Directs website. The thrive chequing account has no monthly fee and requires no minimum balance. The ING Thrive chequing account also pays interest on all deposits between 0.25-1.0% This is a higher interest rate than many savings accounts from bigger Canadian banks. Overall the ING Thrive unlimited chequing account is a great no fee option for Canadians. Full ING Direct Thrive Chequing Account Review

    BMO Performance No Fee Unlimited Chequing Account Canada #3

    BMO (Bank of Montreal) offers a series of chequing accounts that Canadians can use with no fees, but you must maintain a monthly minimum balance. The BMO Performance Chequing account allows for unlimited online and BMO ATM transactions along with 1 free non BMO bank machine withdrawal and two free Interact email money transfers each month. One of the best perks of banking at BMO is that you earn Air Miles on debit purchases. BMO clients earn 1 Air Mile for every $40 spent using their debit card. Normally this account has a monthly fee of 13.95 a month, but if you maintain an average monthly balance of $3,000 or more you will not be charged a fee for this account. Full BMO Performance Chequing Account Review

    RBC Unlimited No Fee Chequing Account Canada #4

    RBC offers Canadians a number of daily chequing accounts where you can qualify to have the monthly fee waived if you are also enrolled in additional RBC financial products. For instance, if you enroll for a RBC Visa Card, Mortgage, Line of Credit, or most Investment products you will have the fee waived for the chequing account of your choice. The normal fee for the RBC No Limit Chequing account is normally $10.95 for those who are not enrolled in two eligible products. With this account clients can process unlimited transaction online and at RBC machines absolutely free. Full RBC No Limit Chequing Account Review

    Scotia One Unlimited No Fee Chequing Account Canada #5

    Scotiabank offers a number of chequing accounts to Canadians that carry a monthly fee. These fees however can be waived should you maintain a minimum balance for each account choice. The Scotia One Unlimited Chequing account is a great no fee chequing account option. The fee for this account is normally $9.95 but this fee is waived for clients with an average monthly balance of $3,500. Scotia offers many other chequing accounts with lots of transactions where fees can be waived for balances as low as $1,500. Full Scotia Bank No Fee Chequing Review

    TD Canada Trust No Fee Chequing Accounts Canada #6

    TD Canada Trust offers a series of daily chequing accounts that come with monthly fees, but these fees can be waived should you meet the minimum balance requirement. Canadians can get free chequing at TD for a minimum balance as low as $1,000 and unlimited chequing for balances above $5,000. So generally at TD you can have a number of free chequing account options with more transaction coming at a cost of keeping a higher minimum balance. Full TD Canada Trust Chequing Account Review