Chequing account · Industrial and Commercial Bank of China (Canada)
Basic Chequing Account: fees and true cost
Industrial and Commercial Bank of China (Canada)’s Basic Chequing Account charges $4.00/mo, or $0 with a $1,000 minimum balance, with 18 a month transactions. For our “Everyday” example that comes to $234 a year.
CDICOffered in BC, 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 | n/a | Can’t do: Interac e-Transfers | — |
| Everyday Household account, a few e-Transfers | n/a | Can’t do: Interac e-Transfers | — |
| Heavy Lots of card, bill and e-Transfer payments | n/a | Can’t do: Interac e-Transfers | — |
| Branch and cheques Teller visits, cheques, paper statement | $58 | Fee waived by the balance; extra transactions $4.80/mo | 7 of 94 |
Try your own numbers in the true-cost finder. Is keeping $1,000 in the account worth it? Run it in the account-fee calculator.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $4.00/mo, or $0 with a $1,000 minimum balance |
| Included transactions | 18 a month |
| Debit purchase in Canada (beyond included) | $0.80 |
| Online or mobile bill payment | $0.80 |
| Interac e-Transfer | Not available |
| Online transfer between your accounts | $0.80 |
| Own-bank ATM withdrawal | $0.80 |
| Withdrawal at another institution’s ATM | $1.80 |
| ATM withdrawal in the United States | $5.80 |
| ATM withdrawal in other countries | $5.80 |
| Debit purchase in the United States | $0.80 |
| In-branch withdrawal | $0.80 |
| Bill payment in branch | $3.80 |
| Cheque (as a payment) | $0.80 |
| Mailed monthly statement | No extra fee |
| Non-sufficient funds (NSF) | $45.00 |
| Overdraft protection, monthly | No extra fee |
| Overdraft protection, per use | $5.00 |
| Overdraft interest | 21% a year |
Notes from the institution
N/A
Is the money protected?
CDIC member. Eligible deposits are covered up to $100,000 per category at each CDIC member — see the deposit safety tool.
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
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Industrial and Commercial Bank of China (Canada)’s product page
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