Chequing account · FirstOntario Credit Union
Pay As You Go Chequing: fees and true cost
FirstOntario Credit Union’s Pay As You Go Chequing charges no monthly fee, with none included (each one is charged) transactions. For our “Everyday” example that comes to $282 a year, #54 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 | $108 | No monthly fee; extra transactions $9.00/mo | 32 of 106 |
| Everyday Household account, a few e-Transfers | $282 | No monthly fee; extra transactions $20.00/mo | 54 of 106 |
| Heavy Lots of card, bill and e-Transfer payments | $570 | No monthly fee; extra transactions $40.50/mo | 59 of 106 |
| Branch and cheques Teller visits, cheques, paper statement | $168 | No monthly fee; extra transactions $12.00/mo | 29 of 94 |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | No monthly fee |
| Included transactions | None included (each one is charged) |
| Debit purchase in Canada (beyond included) | $0.50 |
| Online or mobile bill payment | No extra fee |
| Interac e-Transfer | $1.50 |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | No extra fee |
| Withdrawal at another institution’s ATM | $3.50 |
| ATM withdrawal in the United States | $3.50 |
| ATM withdrawal in other countries | $3.50 |
| Debit purchase in the United States | $3.50 |
| In-branch withdrawal | $1.00 |
| Bill payment in branch | No extra fee |
| Cheque (as a payment) | $1.00 |
| Mailed monthly statement | $2.00 |
| Non-sufficient funds (NSF) | $50.00 |
| Overdraft protection, monthly | $2.50 |
| Overdraft protection, per use | No extra fee |
| Overdraft interest | Not stated |
Notes from the institution
FCAC retrieved information for this account from publicly available information on the financial institution's website. Product features, fees, rates and eligibility requirements may change. Please verify current account details directly with the financial institution.
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 FirstOntario Credit Union
- Premium Chequing — $13.95/mo, or $0 with a $4,000 minimum balance
- Premium Unlimited Chequing — $19.95/mo, or $0 with a $6,000 minimum balance
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · FirstOntario Credit Union’s product page
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