Chequing account · Simplii Financial
No Fee Chequing Account: fees and true cost
Simplii Financial’s No Fee Chequing Account charges no monthly fee, with branch: 0 · self-serve: unlimited transactions. For our “Everyday” example that comes to $18 a year, #8 of 106 chequing accounts offered in Ontario.
CDICOffered in AB, BC, MB, NB, NL, NS, NT, NU, ON, PE, SK, YT
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 | $0 | No monthly fee | 7 of 106 |
| Everyday Household account, a few e-Transfers | $18 | No monthly fee | 8 of 106 |
| Heavy Lots of card, bill and e-Transfer payments | $36 | No monthly fee | 9 of 106 |
| Branch and cheques Teller visits, cheques, paper statement | n/a | Can’t do: branch transactions | — |
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 | Branch: 0 · self-serve: 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 | $1.50 |
| ATM withdrawal in the United States | $3.00 |
| ATM withdrawal in other countries | $3.00 |
| Debit purchase in the United States | No extra fee |
| In-branch withdrawal | Not available |
| Bill payment in branch | Not available |
| Cheque (as a payment) | No extra fee |
| Mailed monthly statement | $5.00 |
| Non-sufficient funds (NSF) | $10.00 |
| Overdraft protection, monthly | $4.97 |
| Overdraft protection, per use | No extra fee |
| Overdraft interest | 19% a year |
Interest
| Balance | Rate (annual) |
|---|---|
| $0 and up | 0.01% |
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 · Simplii Financial’s product page
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