What matters most to you?
Everyone qualifies for these. Tell us what you are optimising for and we will sort the list.
Account type
Monthly fee $0
No NSF fee
Deposit insurance
Province
6 compared
Not yet rated
Savings rate, per annum
0.30%
Deposit insurance
CDIC direct, federal credit union
A federally continued credit union offering no-fee chequing, savings and a full retail banking range, primarily serving British Columbia with national reach.
Not yet rated
Savings rate, per annum
1.00%, or 2.75% with direct deposit
Deposit insurance
CDIC via Equitable Bank, shared limit
A branchless digital bank offering a hybrid chequing and savings account at 1.00% everyday interest, rising to 2.75% with a qualifying recurring direct deposit, with no monthly fees and no NSF charge. Deposits are CDIC insured.
Not yet rated
Monthly cost
$10/month, no interest
Minimums
$225 credit limit
Deposit insurance
Not a deposit, no insurance
A prepaid Mastercard account paying tiered interest from 2.00% to 3.50% depending on plan, with cash back on spending and no NSF fee. Plans range from free to roughly $19 a month.
Not yet rated
Savings rate, tiered by balance
2.00% to 2.75%
Minimums
None, $200,000 cap
Deposit insurance
CDIC via unnamed trustee, pooled
A digital bank offering a high-interest savings and chequing combination alongside credit cards and a mortgage arm, with no monthly fee and no NSF charge.
Not yet rated
Ongoing rate, per annum
0.30%
Deposit insurance
CDIC direct, separate from Scotiabank
A full-service direct bank owned by Scotiabank, offering chequing, savings, GICs, credit cards and mortgages with no monthly fees and access to Scotiabank ATMs.
Not yet rated
Interest, by total assets held
1.25% to 2.25%
Deposit insurance
CDIC via unnamed partner banks
An investing platform that has expanded into everyday banking with a high-interest cash account, spending card and tax filing, alongside managed and self-directed investing.
Why this column
NSF fee. Three returned items at a big bank costs $135 to $150, more than the interest on a small instalment loan, and it is the mechanism that turns a shortfall into a spiral.
The cost that decides it
What an account costs you in a bad year: three NSF charges at a big bank against a no-fee digital account. Verified against published fee schedules.
Common questions
