The Best Youth Accounts

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* Note: This page was updated on June 25th, 2019. Account information is subject to change, and it’s important that details are verified before opening an account.

All of the major banks offer free youth accounts for those that are under 19 or under 14 (RBC). However, some account are much better than others – offering additional benefits such as by earning Scene points or free e-transfers.

In our opinion, the best Youth Accounts is at CIBC. This account offers unlimited transactions and etranfers.

The close runner up is Scotiabank’s Getting There Savings account. This account offers unlimited transactions, two free e-transfers a month, and the ability to earn Scene points to see free movies. 

If you have any further questions, please don’t hesitate to contact me at info@ffcoach.ca or 647-289-0012. You can read more about us here and sign-up to our newsletter below.

Youth Accounts

Scotiabank’s Getting There Savings

  • No Fee
  • Unlimited Transactions
  • 2 Free e-transfers a month/$1 for each after. 
  • Free Paper Statements
  • Earn Scene Points
  • Converts to an account of their choice when holder is no longer a youth

CIBC’s Youth Account

  • No Fee
  • Unlimited Transactions
  • Free e-transfers
  • Free record keeping options

TD’s Youth Savings Account

  • No fee
  • Unlimited Transactions
  • E-transfers are $0.50 when under $100 and $1.00 when over $100

BMO’s Plan Plus

  • No fee
  • 30 Monthly Transactions/$1.25 for each extra
  • Unlimited e-transfers (within transactional limits)
  • Free paper statements

Royal Bank’s Leo’s Young Savers Account (13 and under)

  • No fee
  • 15 Monthly Transactions and $1.25 for each extra
  • Unlimited e-transfers
  • Free paper statements

One thought on “The Best Youth Accounts

  1. jordon

    Hello there! This blog post couldn’t be written much better!

    Looking at this post reminds me of my previous roommate!

    He always kept preaching about this. I am going to forward this article to him.
    Fairly certain he’s going to have a very good
    read. Many thanks for sharing!

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