For decades, traditional Canadian chequing accounts often charge a monthly fee, sometimes as much as $30. In 2025, things have changed. The rise of digital-first banks, online credit unions, and innovative fintechs means you can now get full-featured chequing accounts with $0 monthly fees, often with unlimited transactions and free Interac e‑Transfers.
At ScoopRate Canada, we’ve compared the leading no-fee chequing accounts for this year, weighing features like ATM access, interest on balances, transaction fees, and unique features. Whether you’re a student, professional, or retiree, this guide will help you find the right fit.
Why Choose a No-Fee Chequing Account?
- Save money every month: Avoid $10–$30 monthly fees that add up over the year.
- Modern digital features: Many no-fee accounts offer mobile cheque deposit, budgeting tools, and e‑Transfers.
- Flexibility: Some hybrid accounts even earn daily interest, something rare in traditional chequing.
ScoopRate’s Top Pick: EQ Bank Personal Account
Why we like it: EQ Bank stands out for combining a chequing and savings hybrid. You earn interest on every dollar, have unlimited Interac e-Transfers, and access select ATMs for free, all with zero fees.
ScoopRate Insight: If you’re seeking maximum return on your everyday money while avoiding fees, EQ Bank remains unmatched in 2025 for digital-first Canadians.
ScoopRate’s No-Fee Chequing Comparison
Individual Chequing Account Reviews
1. EQ Bank Personal Account
Overview: A hybrid chequing/savings account that pays high daily interest on every dollar
Welcome Offer: Earn 3.50% interest on every dollar from day one
Monthly Fee & Minimum Balance: None
Transactions: Unlimited
e‑Transfers: Free & unlimited for sending and receiving
ATM Access: Free Canada-wide ATM withdrawals with fee rebates
Unique Feature: Up to 3.50% daily interest on all balances. No fees and no minimum balance required
ScoopRate Take: Best-in-class for users who want returns without effort. Just park your money and let it grow.
2. Tangerine No-Fee Daily Chequing
Overview: A well-rounded no-fee account with powerful budgeting tools and mobile banking.
Welcome Offer: Earn $250 when you open an account and move your pay
Monthly Fee & Minimum Balance: None
Transactions: Unlimited
e‑Transfers: Free & unlimited for sending and receiving
ATM Access: Free access to all Scotiabank ATMs across Canada
Unique Feature: Track your spending effortlessly with smart categories that show where every dollar goes.
ScoopRate Take: Great for users who want a mix of automation, savings tools, and strong mobile experience.
3. Simplii Financial No-Fee Chequing Account
Overview: Backed by CIBC, this account delivers full-service digital banking with no monthly fees.
Welcome Offer: Earn $300 when you open an account and add an eligible direct deposit
Monthly Fee & Minimum Balance: None
Transactions: Unlimited
e‑Transfers: Free & unlimited for sending and receiving
ATM Access: Free access to all CIBC ATMs across Canada
Unique Feature: Seamless integration with CIBC branches for cash deposits and withdrawals
ScoopRate Take: A dependable everyday banking choice for users who want digital freedom without giving up physical access.
Visit Simplii Financial website
4. Wealthsimple Chequing
Overview: A hybrid between chequing and high interest savings account with integration with Wealthsimple’s investment platform.
Welcome Offer: Transfer your account and get a 1% match (offer ends Sept 5th)
Monthly Fee & Minimum Balance: None
Transactions: Unlimited
e‑Transfers: Free & unlimited for sending and receiving
ATM Access: Free Canada-wide ATM withdrawals with fee rebates of up to $5
Unique Feature: Instantly move money to Wealthsimple Trade or Crypto; Up to 2.75% interest on balance.
ScoopRate Take: Ideal for tech-savvy users who want everything in one ecosystem; banking, investing, and crypto.
5. PC Money™ Account
Overview: A no-fee account from President’s Choice Financial that earns PC Optimum points on everyday spending and interest on savings
Welcome Offer: Earn 100,000 bonus PC Optimum™ points – worth $100!
Monthly Fee & Minimum Balance: None
Transactions: Unlimited
e‑Transfers: Free & unlimited for sending and receiving
ATM Access: Free access to PC Financial ATMs across Canada
Unique Feature: Earn PC Optimum points on purchases instead of traditional interest.
ScoopRate Take: Great for shoppers who want everyday banking with the added perk of loyalty rewards and interest on savings
Visit PC Money Account website
Things to Watch For
- ATM Access: Some digital banks don’t belong to the major ATM networks, so you might face out-of-network fees. Look for accounts that reimburse these.
- Customer Support: While no-fee accounts are digital-first, response times and self-service tools vary.
- Overdraft Options: If you occasionally go negative, ensure your account offers affordable overdraft protection.
Final Thoughts
No-fee chequing accounts in Canada have matured significantly. With high interest, digital convenience, and modern interfaces, these accounts are ideal for most Canadians, especially students, remote workers, or anyone tired of legacy banking fees.
Stay tuned to ScoopRate Canada as we roll out sortable tools to help you filter and compare by ATM access, Interac limits, mobile app ratings, and more.
Disclaimer: The information in this article is for general informational purposes only and should not be considered financial, legal, or professional advice. Rates, terms, and product details may change at any time. Please confirm all information directly with the relevant provider before making a decision. ScoopRate Canada may receive compensation from partners when you apply through certain links. This does not influence our editorial opinions or product rankings.