Comparison
No-fee chequing accounts
Paying a monthly chequing fee is optional in Canada — several online banks charge nothing for everyday banking. Here's a curated shortlist; confirm current terms at each provider before switching.
The numbers, in brief: Every pick here charges $0 monthly and includes free Interac e-Transfers (as of August 2026). Some also earn interest or rewards on the balance — confirm current terms at the provider.
Curated shortlist · verified 2026-08-03. Rates, fees and rewards change — confirm the current terms at the provider before applying. Some links may be affiliate links; rankings are on the merits. See our disclosures.
| Product | Key numbers* | Known for | Best for | Notes |
|---|---|---|---|---|
| No-Fee Chequing Account Simplii Financial | $0Monthly feeFreee-TransfersYesCDIC | No monthly fee, CIBC-backed online bank | A full-featured no-fee daily account | |
| No-Fee Daily Chequing Tangerine | $0Monthly feeFreee-TransfersYesCDIC | No monthly fee, Scotiabank-owned online bank | Everyday banking with a strong app | |
| Cash Wealthsimple | $0Monthly feeFreee-TransfersYes*Earns interest | No-fee spending account with interest on the balance | Spending + saving in one place | |
| Personal Account EQ Bank | $0Monthly feeFreee-TransfersYesCDIC | No-fee account that pays interest with free Interac e-Transfers | Combining everyday spending with interest | |
| Money Account Neo Financial | $0Monthly feeFreee-Transfers | No-fee everyday account with a high-interest angle | App-first users who want interest on cash | |
| PC Money Account PC Financial | $0Monthly feePC OptimumRewards | No-fee everyday account that earns PC Optimum points | Shoppers at Loblaw-banner and Shoppers stores | |
| Spending & Savings KOHO | $0*Monthly feeYes*Cash back | No-fee reloadable account with cash back (prepaid Mastercard) | Budgeting and cash back without a credit check |
* CDIC coverage applies at member institutions within limits; provincial insurers cover credit unions. Confirm coverage and current rates with each provider. General information, not individualized advice.