Chequing account · Shinhan Bank Canada
Chequing account (package 1): fees and true cost
Shinhan Bank Canada’s Chequing account (package 1) charges $3.00/mo, or $0 with a $500 minimum balance, with 15 a month transactions. For our “Everyday” example that comes to $674 a year, #103 of 106 chequing accounts offered in Ontario.
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 | $155 | Monthly fee $3.00; extra transactions $9.88/mo | 46 of 106 |
| Everyday Household account, a few e-Transfers | $674 | Fee waived by the balance; extra transactions $54.70/mo | 103 of 106 |
| Heavy Lots of card, bill and e-Transfer payments | $1,553 | Fee waived by the balance; extra transactions $126.38/mo | 104 of 106 |
| Branch and cheques Teller visits, cheques, paper statement | $254 | Fee waived by the balance; extra transactions $16.13/mo | 70 of 94 |
Try your own numbers in the true-cost finder. Is keeping $500 in the account worth it? Run it in the account-fee calculator.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $3.00/mo, or $0 with a $500 minimum balance |
| Included transactions | 15 a month |
| Debit purchase in Canada (beyond included) | $3.00 |
| 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 | $0.50 |
| Withdrawal at another institution’s ATM | $1.50 |
| ATM withdrawal in the United States | $5.00 |
| ATM withdrawal in other countries | $5.00 |
| Debit purchase in the United States | $5.00 |
| In-branch withdrawal | $3.00 |
| Bill payment in branch | No extra fee |
| Cheque (as a payment) | No extra fee |
| Mailed monthly statement | $5.00 |
| Non-sufficient funds (NSF) | $10.00 |
| Overdraft protection, monthly | No extra fee |
| Overdraft protection, per use | $5.00 |
| Overdraft interest | 21% a year |
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
Other chequing accounts at Shinhan Bank Canada
- Chequing account (no package) — $2.00/mo, no balance waiver
- Chequing account (package 2) — $5.00/mo, or $0 with a $1,000 minimum balance
- Chequing account (package 3) — $8.00/mo, or $0 with a $2,000 minimum balance
- Chequing account (package 4) — $10.00/mo, or $0 with a $3,000 minimum balance
- Chequing account (package 5) — $20.00/mo, or $0 with a $5,000 minimum balance
- Chequing account (seniors) — No monthly fee
- Chequing account (students & newcomers) — No monthly fee
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Shinhan Bank Canada’s product page
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