The Best Online Chequing Accounts

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Here’s a list of the best online chequing accounts that are offered in Canada. As always, if you enjoy this article, please take the time and become acquainted with our unique and non-biased Financial Literacy Coaching Sessions here.

Both online chequing accounts offer unlimited usage with no monthly fee, however Simplii Financial is the preferred option as they do not charge a fee for e-transfers, offer unlimited free cheques and other lower fees.

Simplii Financial

This free account offers unlimited debit card transactions and free withdrawals from CIBC bank machines. The features that distinguish Simplii over the competition include free e-transfers, unlimited cheques, and lower fees for supporting services like replacement bankcards. 

Tangerine Bank

Tangerine’s main chequing account offers unlimited monthly transactions and free withdrawals from Scotiabank’s ATM network. Customer service is offered 24/7 and some physical locations offered across Canada.  

Well that’s the run down of all the main banking accounts that are offered by Canada’s largest banks. As always, thanks for reading, and if you have any questions please contact me at info@ffcoach.ca or 647-289-0012. Also don’t forget to sign-up to our regular newsletter below!


Summary of the Available Online Chequing Accounts

Simplii No Fee Chequing Account

-Unlimited Transactions
-Free ATM withdrawals at CIBC
-Free cheques
-24/7 customer service
-1 free replacement card a year and $4.97 for each additional
-Available overdraft for a usage fee of $4.97 and a 19.99% annual interest charge per day

Tangerine Bank

-Unlimited Transactions
-Free ATM withdrawals on the Scotiabank ATM network and at select Tangerine locations
-$1 for each e-transfer
-50 free cheques
-24/7 customer service
-1 free replacement card and $15 for each additional one
-Available overdraft for a usage fee of $5 and a 19.99% annual interest charge per day

 

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