Best No-Fee Chequing Accounts in Canada

By MoneyDesk's editorial team Published August 20, 2026 Last reviewed August 20, 2026

What every account includes

$0normal monthly fee
Unlimitedeveryday transactions
UnlimitedInterac e-Transfers

How to read this list

Every account clears the baseline above without relying on a balance, deposit, bundle, or other fee waiver. Each “Good for” label identifies a practical use case. The pros and cons show what you gain and what you give up.

Start with the services you cannot replace

Check the card network, nearby ATMs, cheque and wire support, joint ownership, and branch access before comparing interest. A strong rate will not compensate for an account that cannot receive the type of payment you use or makes cash access inconvenient.

ATM access is particularly uneven. Wealthsimple reimburses eligible provider fees worldwide for clients using a physical card, EQ caps its Canadian reimbursement by withdrawal and month, and several other accounts rely on a specific free network. “ATM access” does not mean every withdrawal is free.

A $0 monthly fee is not a fee-free promise

Out-of-network ATM use, foreign conversion, wire transfers, cheque orders, assisted service, inactivity, and other account services can still cost money. Read the cons alongside the headline features, then open the account details for the complete reviewed limitations and deposit-protection arrangement.

Compare the accounts

Alterna Bank

Alterna No-Fee eChequing Account

Good forPeople with a nearby THE EXCHANGE ATM who want cheque support

A digital no-fee account with unlimited supported transactions, cheque support, and a small amount of interest.

Interest: 0.05%
ATM access: Yes
Joint account: Unknown

Pros

Supports cheque writing, mobile cheque deposit, and free linked-account transfers.
THE EXCHANGE, a shared surcharge-free Canadian ATM network, provides more than 3,300 participating machines without an Alterna withdrawal fee or operator surcharge.

Cons

The 0.05% interest rate is negligible.
The online account does not include in-branch transactions.
Cheque orders and withdrawals outside THE EXCHANGE can cost extra.
Joint ownership and outgoing-wire availability remain unconfirmed.

ATB Financial

ATB No-Fee All-In Digital Account

Good forQualified Albertans who want branch fallback and a built-in credit line

A $0-monthly-fee ATB digital account with unlimited digital transactions and an attached credit line.

Interest: None
ATM access: Yes
Joint account: Yes

Pros

Includes Visa Debit, joint accounts, cheque deposits, and ATB ABM access.
Branch and Client Care transactions remain available when needed.
Supports incoming and outgoing wire transfers for a fee.

Cons

Opening requires approval for an attached $5,000–$50,000 line of credit.
Assisted transactions generally cost $5 each.
The deposit balance earns no interest, and ATM reimbursement depends on location.

EQ Bank

EQ Bank Personal Account

Good forEarning interest without giving up Canadian ATM flexibility

A digital no-fee transaction account that earns interest and includes unlimited supported everyday transactions.

Interest: 1%–2.75%
ATM access: Yes
Joint account: Yes

Pros

Earns 1.00%, or up to 2.75% with qualifying monthly direct deposits.
Reimburses up to five eligible Canadian ATM surcharges monthly, capped at $5 each.
Linked-account transfers allow up to $100,000 inbound and $30,000 outbound per transaction.

Cons

Does not send or receive wire transfers.
The optional card is a prepaid Mastercard rather than Interac debit.
There are no branches, cheque writing, bank drafts, or cash deposits.

Innovation Federal Credit Union

Innovation No-Fee Chequing Account

Good forSaskatchewan branch access

A federal credit-union account with no monthly fee, unlimited supported transactions, and branch access in Saskatchewan.

Interest: None
ATM access: Yes
Joint account: Yes

Pros

Combines Saskatchewan branches with digital and telephone banking.
Supports joint accounts, cheques, Debit Mastercard, and incoming and outgoing wires.
Ding Free, a surcharge-free ATM network for participating Canadian credit unions, avoids account and operator withdrawal charges at participating machines.

Cons

The account earns no interest.
Non-network ATM withdrawals and cheque orders can cost extra.
Banking service is unavailable in Quebec.

PC Financial

PC Money Account

Good forPC Optimum earners who can separate savings from spending

A $0-monthly-fee digital account with unlimited supported transactions and Mastercard payment access.

Interest: 2.2%
ATM access: Yes
Joint account: Unknown

Pros

The optional Savings Balance earns 2.2% without a direct-deposit condition.
Qualifying card purchases earn PC Optimum points.
Cash deposits and withdrawals are free at PC Financial bank machines.

Cons

The spendable balance does not earn the Savings Balance rate.
The Mastercard is not Interac debit, and cheque writing and deposits are unavailable.
Joint ownership and incoming or outgoing wire support remain unconfirmed.

Simplii Financial

Simplii No Fee Chequing Account

Good forCIBC ATM access with conventional chequing features

A direct-banking chequing account with no monthly fee, unlimited transactions, and CIBC ATM access.

Interest: See details
ATM access: Yes
Joint account: Yes

Pros

Includes free access to more than 3,400 supported CIBC ATMs in Canada.
Supports Interac and Debit Mastercard purchases, cheques, and joint accounts.
Supports incoming and outgoing wire transfers for a fee.

Cons

Simplii accounts cannot be serviced at CIBC banking centres.
Banking service is unavailable in Quebec.
Interest is tiered but low, and reliable current numeric rates remain unverified.

Tangerine

Tangerine No-Fee Daily Chequing Account

Good forScotiabank ATM access, Visa Debit, and occasional cheque use

A digital chequing account with no monthly fee, unlimited everyday transactions, and Scotiabank ATM access.

Interest: 0.01%–0.1%
ATM access: Yes
Joint account: Yes

Pros

Includes free access to more than 3,500 supported Scotiabank ABMs.
The client card supports Interac and Visa Debit purchases.
Joint accounts are supported, and the first book of 50 cheques is free.

Cons

Does not send or receive wire transfers.
Current tiered interest ranges from 0.01% to 0.10%.
Later chequebooks, non-network withdrawals, and foreign conversion can cost extra.
Tangerine has no conventional retail branch network.

Wealthsimple

Wealthsimple Chequing

Good forPeople who want worldwide ATM-fee reimbursement

A no-monthly-fee digital chequing account with interest, transfers, payments, and card access.

Interest: 1.25%–2.25%
ATM access: Yes
Joint account: Yes

Pros

Reimburses an unlimited number of eligible ATM-provider fees worldwide, reducing dependence on a particular ATM network.
Earns 1.25%–2.25%, depending on client status and qualifying direct deposit.
Supports joint accounts, eligible cheques, and incoming and outgoing wires.

Cons

The card is a prepaid Mastercard rather than Interac debit.
The top interest rate depends on client status or qualifying direct deposit.
Wealthsimple, intermediary, receiving-bank, or foreign-exchange wire conditions can apply.