Get up to $100 in Value!

Below are two great chequing accounts that come with no monthly fees. By simply switching your chequing account to one of these, you could save on monthly bank fees and even earn up to $100 in value! Check out the features table below to choose which one best suits your financial needs.

Compare Accounts by Key Features

Features Scotia One Chequing Account Alterna Bank No Fee eChequing Account
Sign-up Bonus $100 -
Monthly Transactions Unlimited Unlimited
Interact e-Transfers 2 Unlimited
Rewards Scene Program, Scotia Rewards -
Monthly Fee $13.95 $0.00
Balance Required to Waive Monthly Fee $4,000 $0.00
Debit Card Yes Yes
Availability All of Canada All of Canada

Ready to choose?

What is a chequing account anyway?

A chequing account is the most basic transactional bank account offered by banks, credit unions and small lenders. Chequing accounts are typically meant to serve as a transactions account. For example, most people have their paycheques from work deposited into a chequing account, then pay for purchases, services and their credit card bills with the money that's in there.

The money in your chequing account is usually your most liquid asset, as it can be withdrawn at anytime without penalty1 . In exchange for that liquidity, chequing accounts usually offer little-to-no deposit interest. In Canada, any amount you deposit up to $100,000 is protected by CDIC insurance.

Compare the Best Chequing Accounts in Canada

Use our chequing accounts comparison tool to find the best chequing accounts from providers across Canada.