Chequing account · Alterna Savings
Chequing (Unlimited Package): fees and true cost
Alterna Savings’s Chequing (Unlimited Package) charges $14.00/mo, no balance waiver, with unlimited transactions. For our “Everyday” example that comes to $192 a year, #29 of 106 chequing accounts offered in Ontario.
Provincial insurerOffered in ON
Fees retrieved November 1, 2026
What it would cost you in a year
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $168 | Monthly fee $14.00 | 54 of 106 |
| Everyday Household account, a few e-Transfers | $192 | Monthly fee $14.00 | 29 of 106 |
| Heavy Lots of card, bill and e-Transfer payments | $216 | Monthly fee $14.00 | 32 of 106 |
| Branch and cheques Teller visits, cheques, paper statement | $195 | Monthly fee $14.00 | 45 of 94 |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $14.00/mo, no balance waiver |
| Included transactions | Unlimited |
| Debit purchase in Canada (beyond included) | No extra fee |
| Online or mobile bill payment | No extra fee |
| Interac e-Transfer | No extra fee |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | No extra fee |
| Withdrawal at another institution’s ATM | $2.00 |
| ATM withdrawal in the United States | $3.00 |
| ATM withdrawal in other countries | $5.00 |
| Debit purchase in the United States | No extra fee |
| In-branch withdrawal | No extra fee |
| Bill payment in branch | No extra fee |
| Cheque (as a payment) | No extra fee |
| Mailed monthly statement | $2.25 |
| Non-sufficient funds (NSF) | $50.00 |
| Overdraft protection, monthly | $5.00 |
| Overdraft protection, per use | $5.00 |
| Overdraft interest | 19.99% a year |
Notes from the institution
Perfect if you're an active user who wants a full suite of services
Is the money protected?
FSRA (Ontario credit union). Credit union deposits are insured by the province, with limits that vary — see credit union insurance by province.
Cheaper for everyday use, at other institutions
- Wealthsimple Chequing (Wealthsimple) — $0 a year
- Personal Account (EQ Bank) — $0 a year
- 1Q Chequing Account (KEB Hana Bank Canada) — $0 a year
Other chequing accounts at Alterna Savings
- Chequing (Basic Package) — $4.00/mo, or $0 with a $1,000 minimum balance
- Chequing (Pay As You Go Package) — No monthly fee
- Chequing (Student Life Package) — No monthly fee
- Chequing (Value Package) — $10.00/mo, no balance waiver
- Simply Chequing — No monthly fee
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Alterna Savings’s product page
Educational information only, not financial, legal or tax advice. CanadianBanks.ca is independent and is not affiliated with, endorsed by or paid by any institution listed. Confirm details with the institution and the official sources linked on each page before you act. Read the full disclaimer.