Chequing account · Libro Credit Union
Chequing Account (Simplify): fees and true cost
Libro Credit Union’s Chequing Account (Simplify) charges $14.00/mo, or $0 with a $2,500 minimum balance, with unlimited transactions. For our “Everyday” example that comes to $180 a year, #27 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 | 53 of 106 |
| Everyday Household account, a few e-Transfers | $180 | Monthly fee $14.00 | 27 of 106 |
| Heavy Lots of card, bill and e-Transfer payments | $24 | Fee waived by the balance | 7 of 106 |
| Branch and cheques Teller visits, cheques, paper statement | $228 | Monthly fee $14.00 | 59 of 94 |
Try your own numbers in the true-cost finder. Is keeping $2,500 in the account worth it? Run it in the account-fee calculator.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $14.00/mo, or $0 with a $2,500 minimum balance |
| 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 | $1.00 |
| ATM withdrawal in the United States | $3.00 |
| ATM withdrawal in other countries | $3.00 |
| Debit purchase in the United States | $3.00 |
| In-branch withdrawal | No extra fee |
| Bill payment in branch | No extra fee |
| Cheque (as a payment) | No extra fee |
| Mailed monthly statement | $5.00 |
| Non-sufficient funds (NSF) | $50.00 |
| Overdraft protection, monthly | $5.00 |
| Overdraft protection, per use | $5.00 |
| Overdraft interest | 30% a year |
Interest
| Balance | Rate (annual) |
|---|---|
| $0 to $50,000 | 0.125% |
| $50,000 to $100,000 | 0.2% |
| $100,000 and up | 0.75% |
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 Libro Credit Union
- Chequing Account (Basic) — $4.00/mo, no balance waiver
- Chequing Account (Go Free - Youth) — No monthly fee
- Chequing Account (Premium) — $25.00/mo, or $0 with a $75,000 minimum balance
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Libro Credit Union’s product page
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