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Best Chequing Accounts for Students in Canada

Compare chequing accounts for Canadian students. No monthly fees, free e-Transfers, and welcome bonuses for college and university students.

4 accounts

1
Scotiabank

Scotiabank Preferred Package for Students and Youth

ScotiabankchequingNo FeeUnlimited

Monthly Fee

$0

Interest Rate

—

View DetailsUp to $175 welcome bonus
2
BMO

BMO Performance Student Chequing Account

BMOchequingNo FeeUnlimited

Monthly Fee

$0

Interest Rate

—

View DetailsUp to 175$ welcome bonus*
3
TD

TD Student chequing account

TDchequingNo Fee

Monthly Fee

$0

Interest Rate

—

View DetailsUp to $125 in welcome bonus*
4
CIBC

CIBC Smart™ for Students

CIBCchequingNo Fee

Monthly Fee

$0

Interest Rate

—

View Details

Complete Guide

Best Chequing Accounts for Students in Canada

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.

Eligibility

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.

What to Look For

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.

FAQ

Frequently Asked Questions

1Do I need a co-signer to open a student chequing account?
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.
2What happens to the fee waiver after I graduate?
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.
3Can international students get a student chequing account?
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.