Who can open a chequing account?

Anyone with the age of majority in their province can open a chequing account. Most Canadian banks will also allow young people to open an account with the authorization of a parent or guardian.

Which bank accounts have no monthly fees?

A no-fee checking account is a type of bank account that charges no monthly fees or charges for day-to-day operations. These are generally offered by neobanks and online banks, such as Banque EQ, Neo, Tangerine and Wealthsimple.

Vincent Morin

Q: What is a chequing account?

A chequing account, also known as a current account, is a bank account designed to handle your day-to-day transactions: purchases, deposits, debit transactions, pre-authorized payments and withdrawals. Many financial institutions offer chequing accounts: banks, caisses populaires, credit unions and trust companies.

My name is Vincent and I've been a stay-at-home parent to two young boys since achieving financial independence in 2021 (FIRE). Previously, I worked for 12 years in financial technology for a major US investment bank (G-SIB). I'm passionate about personal finance, stock market investing, reading, writing, cycling and gardening. I'm also the founder of Retraite 101, a personal finance blog followed by over 30,000 people on social networks and quoted in several media, blogs and finance books. Despite early retirement, I continue to write about personal finance to share my passion with Quebecers and motivate them to take charge of their finances.

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