How this ranking works
Each account gets a cost score for each usage profile: 100 − (fees a year ÷ $3), floored at 0 — so $0 a year scores 100 and $300 or more scores 0. A profile the account can’t serve (for example, branch visits at an online bank) scores 0.
Weights: Light 20% · Everyday 45% · Heavy 25% · Branch and cheques 10%. Profiles are defined in the finder; fees come from the true-cost engine described in the methodology.
Rebates for bundles or credit cards, welcome bonuses, app quality and customer service. Those matter, but they can’t be checked from published fee data — so they don’t move the order.
Frequently asked questions
What is the best chequing account in Canada?
On our published score, the top accounts are the ones that charge nothing for everyday, light and heavy use. Which one is best for you depends on whether you need branches, cash deposits or cheques — use the finder with your own numbers.
Why do Big Six accounts score lower?
Most Big Six chequing accounts charge a monthly fee unless you keep a minimum balance ($3,000 to $6,000 is common in FCAC’s data). The score uses each profile’s low balance, so the fee usually applies. If you keep a large balance, the finder will show those accounts as free.
Educational information only, not financial, legal or tax advice. CanadianBanks.ca is independent and is not affiliated with, endorsed by or paid by any institution listed. Confirm details with the institution and the official sources linked on each page before you act. Read the full disclaimer.