Chequing account · SBI Canada Bank
Chequing Account: fees and true cost
SBI Canada Bank’s Chequing Account charges $4.00/mo, or $0 with a $1,000 minimum balance, with unlimited transactions. For our “Everyday” example that comes to $0 a year, #5 of 106 chequing accounts offered in Ontario.
CDICOffered in AB, 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 | $48 | Monthly fee $4.00 | 17 of 106 |
| Everyday Household account, a few e-Transfers | $0 | Fee waived by the balance | 5 of 106 |
| Heavy Lots of card, bill and e-Transfer payments | $0 | Fee waived by the balance | 5 of 106 |
| Branch and cheques Teller visits, cheques, paper statement | $60 | Fee waived by the balance | 8 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 | 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 | No extra fee |
| ATM withdrawal in the United States | No extra fee |
| ATM withdrawal in other countries | No extra fee |
| 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) | $1.00 |
| Mailed monthly statement | $5.00 |
| Non-sufficient funds (NSF) | $10.00 |
| Overdraft protection, monthly | Not available |
| Overdraft protection, per use | Not available |
| 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?
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 · SBI Canada Bank’s product page
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