Compare the Best Personal Chequing Accounts

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Personal Chequing Accounts

Personal chequing accounts are designed to meet the diverse banking needs of any individual. These accounts can have monthly fees of between $0 and $30, depending on the transactions and services included in the account offering. Typically, the higher the monthly fee, the more services and transactions that are included in the account. Comparing personal chequing accounts will help you find the right account for your banking needs.

Common Account Features

Personal chequing accounts offer diverse account features depending on the account. Some offer unlimited debit transactions while others offer a fixed number of monthly transactions. Account features vary drastically between personal accounts but one thing remains the same: Any transaction not included in the account will incur a transaction fee.

Common Account Fees

The most common service fees are for when you make more transactions than what's allocated per month or that are beyond the scope of the account offering. Examples of additional fees beyond the account offering are Interac e-Transfers fees, and non-bank ATM fees.

When to Use a Personal Chequing Account

A personal chequing account should be used if you're not eligible for a student, youth, or seniors' account or if you require a premium account. If you have extensive banking needs, a premium personal chequing account may be better as the higher monthly fee will include a greater assortment of transactions, reducing the number of additional service fees you'll be charged.

How to Save Money on a Personal Chequing Account

The best way to save money with a personal chequing account is by only using the allocated number of transactions and services offered with the account. Any additional transactions and services you use will result in additional charges.

When Not to Use a Personal Chequing Account

The only time you shouldn't use a personal chequing account is if you're able to qualify for a seniors', student, or youth account. Additionally, if you're able to conduct all of your transactions through a savings account, you may not want or need to use a personal chequing account.