Best no-fee chequing accounts in Canada

The EQ Bank Personal Account (formerly the Savings Plus Account) is the best no fee chequing account in Canada. This account comes with unlimited transactions, unlimited Interac e-Transfers and unlimited bill payments.

With a linked EQ Bank card, you can make purchases at stores and online. Plus, you can get truly free ATM withdrawals from any machine in the country as EQ Bank promises to reimburse any fees you pay. Additionally, you’ll earn 0.5% cash back on all purchases made using the card.

A downside to this account is that the EQ Bank card is separate from the chequing account. You’ll have to transfer funds to the card manually before making daily purchases and ATM withdrawals. Fortunately, this can be done quickly and easily using the EQ Bank app.

The Tangerine No-fee Daily Chequing Account lives up to its name. This account boasts unlimited monthly transactions with no fees, free Interac e-Transfers and free access to over 3,500 Scotiabank ATMs across Canada. The linked Visa Debit card can be used online anywhere Visa cards are accepted.

With this account, you get a comprehensive suite of features to manage your finances, effortlessly. You can write cheques, make online bill payments and issue money orders. The account is also eligible for overdraft protection for those times you don’t quite have enough to cover your expenses.

For the rest of your banking needs, Tangerine has you covered. The bank also offers high-interest savings accounts, the award-winning Tangerine Money Back Credit Card and Tangerine World Mastercard, mortgages, personal loans and lines of credit and investments, like mutual funds and GICs.

The Simplii Financial No Fee Bank Account isn’t just one of the best no fee chequing accounts in Canada, it’s one of the best bank accounts, period. This account has no monthly fee, unlimited free transactions including Interac e-Transfers, and a linked Debit Mastercard that can be used in stores, online and at any of CIBC’s 3,400 ATMs in Canada.

As a fully featured chequing account, the Simplii Financial No Fee Chequing Account lets you write cheques, make online bill payments and write money orders, when you need them. The account is also eligible for overdraft protection, so you can occasionally let your balance fall below $0 without paying a hefty fee

For sending money to family and friends overseas, Simplii includes free Global Money Transfers. You can send up to $75,000 worldwide to 130+ countries with no fees and favourable exchange rates.

Simplii Financial also offers a variety of other products for the rest of your banking needs. The bank offers savings accounts in multiple currencies, the Simplii Financial Cash Back Visa Card, mortgages, personal loans and lines of credit and a variety of investment products, including mutual funds and GICs.

The Neo Money card isn’t exactly a chequing account, but it has enough of the features needed to make this list – and plenty of perks to make it worth a look.

With the Neo Money card, you get unlimited transactions, including Interac e-Transfers, with no monthly fee. You can have your paycheque deposited to the account and make bill payments, but the account can’t be used to write cheques.

The key feature of the Neo Money Card is its generous cash back rewards. You can earn up to 5% cash back at restaurants, 3% on apps and 1% on gas and groceries. For a fee, you can upgrade to a premium plan that includes higher cash back rewards, credit monitoring, priority support and other additional benefits.

For those who like free groceries, the PC Money Account combines no-fee daily banking with the juggernaut PC Optimum rewards program, promising up to $400 in average annual value. This account has no monthly fee, no minimum balance and no transaction fees. It includes free Interac e-Transfers and bill payments, but no cheque writing privileges.

With the PC Money account, you can earn PC Optimum points for just about everything you do. You’ll earn 25 points per dollar spent at Shoppers Drug Mart, 10 points per dollar spent at Loblaws and other grocery stores that carry PC products, and 5 points per dollar spent everywhere else. Plus you can earn up to 5,000 points per month by making bill payments, and up to 5,000 points per month with direct deposits.

As a special welcome offer, you can earn up to 125,000 bonus PC Optimum points when you set up direct deposit and perform at least five bill payments within 60 days of opening an account.