Compare chequing accounts for Canadian students. No monthly fees, free e-Transfers, and welcome bonuses for college and university students.
Scotiabank · chequing
The Scotiabank Preferred Package for Students and Youth has no monthly fee, making it risk-free to hold. It offers unlimited transactions. Current offer: Up to $175 welcome bonus.
BMO · chequing
The BMO Performance Student Chequing Account has no monthly fee, making it risk-free to hold. It offers unlimited transactions. Current offer: Up to 175$ welcome bonus*.
TD · chequing
The TD Student chequing account has no monthly fee, making it risk-free to hold. Current offer: Up to $125 in welcome bonus*.
CIBC · chequing
The CIBC Smart for Students has no monthly fee, making it risk-free to hold.
Complete Guide
Compare chequing accounts for Canadian students. No monthly fees, free e-Transfers, and welcome bonuses for college and university students.
Every major Canadian bank waives chequing-account monthly fees for full-time post-secondary students. Most also throw in welcome cash bonuses ($25–$300), free Interac e-Transfers, and a credit card with no annual fee that doubles as a credit-building tool.
You typically need to provide proof of full-time enrolment (a school transcript or acceptance letter) at a recognized college or university. The fee waiver lasts as long as you stay enrolled — usually capped at 4–5 years.
Pick a bank with branches and ATMs near campus, free Interac e-Transfers (essential for splitting rent and groceries), and a no-fee student credit card included in the package.
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Accounts analyzed
Jun 2026
Last updated
100%
Independent
FAQ
No. Anyone 18 or over (or 16+ with parental consent in some provinces) can open a chequing account on their own. Co-signers come up only for credit products if you have no credit history yet.
Most banks switch you to a regular fee schedule on the first month after your enrolment lapses. Some offer a 6–12 month grace period for new graduates. Set a calendar reminder to renegotiate or switch banks before the fees kick in.
Yes. With a study permit and proof of enrolment, international students qualify for the same waivers at RBC, TD, Scotiabank, BMO, and CIBC. Some banks also offer specific international-student bundles.
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