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Ranking · Updated June 2026

Best Chequing Accounts in Canada 2026

Compare the top chequing accounts in Canada. Unlimited transactions, free Interac e-Transfers, no-fee options, and welcome bonuses.

6
accounts
Best for: Unlimited transactions
BMO
BMO Performance Chequing Account

BMO · chequing

4.2Ratesopedia rating

The BMO Performance Chequing Account costs $18/month but the fee is waived with a $4,000 minimum balance. It offers unlimited transactions. Current offer: Up to a $800 cash bonus*.

Unlimited transactionsSpecial offer
Monthly fee
$18

Waived at $4,000

Regular rate
—
Promo rate
—
Transactions
Unlimited

Pros

  • Fee waived with $4,000 minimum balance
  • Unlimited transactions
  • Free e-statements
  • Current welcome offer

Cons

  • High monthly fee ($18)
Best for: Unlimited transactions
Scotiabank
Scotiabank Ultimate Package Chequing Account

Scotiabank · chequing

4.0Ratesopedia rating

The Scotiabank Ultimate Package Chequing Account costs $31/month but the fee is waived with a $6,000 minimum balance. It offers unlimited transactions. Current offer: Up to $700 welcome bonus.

Unlimited transactionsSpecial offer
Monthly fee
$31

Waived at $6,000

Regular rate
—
Promo rate
—
Transactions
Unlimited

Pros

  • Fee waived with $6,000 minimum balance
  • Unlimited transactions
  • Free e-statements
  • Current welcome offer

Cons

  • High monthly fee ($31)
Best for: No monthly fee
EQ Bank
EQ Bank Personal Account

EQ Bank · chequing

5.0Ratesopedia rating

The EQ Bank Personal Account has no monthly fee, making it risk-free to hold. It offers unlimited transactions. Current offer: Up to 2.75% interest*.

No feeUnlimited transactionsSpecial offer
Monthly fee
$0
Regular rate
—
Promo rate
—
Transactions
Unlimited

Pros

  • No monthly fee
  • Unlimited transactions
  • Free e-statements
  • Current welcome offer

Cons

  • Few premium perks
Best for: No monthly fee
Neo Financial
Neo Everyday Account

Neo Financial · chequing

4.0Ratesopedia rating

The Neo Everyday Account has no monthly fee, making it risk-free to hold.

No fee
Monthly fee
$0
Regular rate
—
Promo rate
—
Transactions
—

Pros

  • No monthly fee

Cons

  • Capped transactions
Best for: No monthly fee
Wealthsimple
Wealthsimple Chequing Account

Wealthsimple · chequing

5.0Ratesopedia rating

The Wealthsimple Chequing Account has no monthly fee, making it risk-free to hold. It offers unlimited transactions. Current offer: $25 cash back.

No feeUnlimited transactionsSpecial offer
Monthly fee
$0
Regular rate
—
Promo rate
—
Transactions
Unlimited

Pros

  • No monthly fee
  • Unlimited transactions
  • Free e-statements
  • Current welcome offer

Cons

  • Few premium perks
Best for: No monthly fee
Tangerine
Tangerine No-Fee Daily Chequing Account

Tangerine · chequing

5.0Ratesopedia rating

The Tangerine No-Fee Daily Chequing Account has no monthly fee, making it risk-free to hold. It offers unlimited transactions. Current offer: Up to $250 bonus.

No feeUnlimited transactionsSpecial offer
Monthly fee
$0
Regular rate
—
Promo rate
—
Transactions
Unlimited

Pros

  • No monthly fee
  • Unlimited transactions
  • Free e-statements
  • Current welcome offer

Cons

  • Few premium perks

Complete Guide

Best Chequing Accounts in Canada 2026

Your chequing account is the hub of your daily finances — bills, e-Transfers, debit purchases, payroll deposits, and pre-authorized debits all flow through it. The best chequing accounts in Canada offer unlimited transactions, free Interac e-Transfers, a large ATM network, and no monthly fee (or a fee waiver against a minimum balance).

Digital Banks vs Big Six

Digital banks (Tangerine, EQ Bank, Simplii) typically waive every fee with no minimum balance. Big six (RBC, TD, Scotiabank, BMO, CIBC, National Bank) offer broader branch and ATM coverage and waive fees only against a $3,000–5,000 minimum balance — but they bundle premium perks like free certified cheques, safety deposit boxes, and credit card fee rebates.

Welcome Bonuses

Most chequing accounts run rotating welcome promos worth $300–$500 in cash when you switch your direct deposit and complete a few qualifying transactions. The math almost always favours switching every 12–18 months.

FAQ

Frequently Asked Questions

1What's the best chequing account in Canada?
It depends on your priorities. For zero fees: Tangerine No-Fee or Simplii Financial. For unlimited transactions and broad ATM access: TD All-Inclusive or RBC VIP Banking. For students and newcomers: see the dedicated segments below.
2How many transactions per month do I need?
Most Canadians make 20–40 transactions/month. If you use debit and Interac e-Transfers daily, choose an account with unlimited transactions or a tier ≥ 25 transactions to avoid per-transaction fees ($1.25–$1.50 each).
3Can I waive monthly fees by maintaining a minimum balance?
Yes — every big-six bank waives the monthly fee on most chequing tiers if you keep $3,000–$5,000 in the account at all times. The trade-off is the opportunity cost of not earning interest on those funds elsewhere.