
Best Chequing Accounts in Canada 2023
A chequing account is a kind of bank account that you use on a regular basis to manage your personal cash flow. It’s a vital part of a healthy financial life and usually supports functions like ABM transactions, electronic deposits for your salary, bill payments, and money transfers.
Although every bank offers slightly different features in its chequing accounts, some features are more or less universal. Standards include ABM transactions, teller transactions, online or telephone bill payments, paper cheques, a debit card for making purchases online and in brick-and-mortar stores, and Interac e-Transfers.
Most chequing accounts offer little to no interest, with some rare exceptions. They’re generally designed to make it easier for you to oversee money as it comes in and out of your possession, not to save money for long-term growth.
In This Article:
Best Chequing Accounts in Canada
Canada’s Big 5 banks all offer attractive chequing accounts, and today a number of online-only accounts are giving the Big 5 a run for their money. These are the Canadian chequing accounts that we recommend, based on our research.
Chequing Account | Special Feature | Fee | Review |
---|---|---|---|
Scotiabank Ultimate Package | Get a $350* welcome bonus and up to 5.00% on your MomentumPlus Savings Account for 5 months1 | $30.95** | Read more |
BMO Performance Plan | Earn $350*. Plus, get an extra $50* when you make it a Family Bundle2 *Terms and conditions apply. | $16.95 waived with $4,000 min balance | Read more |
Tangerine No-Fee Daily Chequing | Up to 0.10% interest, depending on account balance | $0 | Read more |
TD US Daily Interest Chequing | 0.01%-0.05% interest, depending on account balance | $0 | Read more |
RBC Day to Day Banking | Earn 20% on Metro Points | $4 | Read more |
* For Scotiabank Ultimate Package: To qualify, certain conditions must be met. Offer ends April 30th, 2023. Visit here for full terms.
** No monthly account fee by maintaining a minimum daily closing balance of $5,000 in your Ultimate Package, or a combined balance of $30,000 across your Ultimate Package and your MomentumPLUS Savings Account
1 Conditions apply. Actual interest rate will vary based on the savings period (the Premium Period) that applies. Visit scotiabank.com/mpsa to learn more.
2 Conditions apply. Visit here for full offer details.
Scotiabank Chequing Account
Scotiabank has multiple different chequing accounts on offer, including a student chequing and a youth chequing account. The monthly fees for Scotiabank’s chequing accounts range from $0*–$30.95 depending on your balance, with seniors enjoying a discount. Every Scotiabank Chequing account comes with a debit card, allowing you to earn rewards on debit transactions with the Scene+ TM Program.3
Scotiabank’s standout chequing account is its Ultimate Package, which offers a world-class combination of benefits particularly suited to those interested in bundling different banking needs under the Scotia roof. Notable account features include:
- $350* Welcome Bonus with a new bank account
- Make money while you wait. Earn up to 5.00% interest on your MomentumPLUS Savings Account for 5 months1
- Unlimited debit transactions3 & Interac e-Transfer† transactions
- Up to $150 annual fee waiver each year on select credit cards3
- Unlimited no-fee Scotia International Money Transfers4
The account’s monthly fee is normally a rather steep $30.95, but this is waived for those that maintain a daily account balance of $5,000 or more or a combined $30,000 in your Ultimate Package and MomentumPLUS Savings account.
Click here to apply for the Scotiabank Ultimate Package chequing account
* To qualify, certain conditions must be met. Offer ends April 30th, 2023. Visit here for full terms.
1 Conditions apply. Actual interest rate will vary based on the savings period (the Premium Period) that applies. Visit scotiabank.com/mpsa to learn more.
3 Conditions apply. Visit here to learn more.
4 For Ultimate Package customers, no service fee is charged for the transfer, however, foreign currency exchange rates apply. Subject to daily limits and additional Terms and Conditions found in the Scotiabank International Money Transfer Agreement.
†Interac e-Transfer is a registered trade-mark of Interac Corp. Used under license.
TM Trademark of Scene IP LP.
®Registered trademarks of The Bank of Nova Scotia
BMO Chequing Account
BMO’s chequing accounts span five options, with monthly fees ranging from $4 to $30. All of BMO’s chequing accounts include unlimited Interac e-Transfers®, and three of them permit you to waive the monthly fee as long as you maintain a minimum average account balance. Children under 13, youth aged 13-18, students, seniors, new Canadian immigrants, and members of the Canadian Defence Community may get special discounted rates and free chequing accounts*.
BMO’s Performance Chequing Account is our favourite unlimited chequing account in Canada and our most highly recommended BMO account. Although there is a monthly fee of $16.95, you can waive that as long as your minimum monthly balance is at least $4,000*. The account also includes:
- Unlimited everyday banking transactions*
- Unlimited Interac e-Transfers®*
- 1 Canadian withdrawal included per month*
- $5 monthly fee for standard overdraft protection*
Click here to apply for the BMO Performance Plan Chequing Account
* Terms and conditions apply.
Tangerine No-Fee Daily Chequing Account
There’s not a whole lot of selection among Tangerine chequing accounts in Canada, as the online-only bank currently offers just its Tangerine No-Fee Daily Chequing Account. But Tangerine’s decision to focus its energies on only one account type has paid off in providing a lot of value for account holders: the account doesn’t charge any fees, and pays interest in tiered rates, beginning at 0.01% on any balance.
The Tangerine No-Fee Daily Chequing account also offers unlimited daily transactions, Interac e-Transfers and email money transfers. You can bank over the phone or online, but there are no branches. Tangerine customers can use Scotiabank ABM machines free of charge worldwide and access Apple Pay and contactless payments through their debit card.
- Up to 0.10% interest, depending on account balance
- No fees for daily chequing transactions
- Free access to Scotiabank ABMs
- One free cheque book; one free replacement debit card annually
Click here to apply or learn more by reading our complete Tangerine Bank review.
TD Chequing Account
TD offers 4 personal chequing accounts, a youth account, and a student account. Monthly fees range from $3.95 for the Basic account to $29.95 for the All-Inclusive Banking Plan, although you can get a rebate on both if you maintain a $2,000 or $5,000 account balance respectively. The student and youth accounts have no monthly fee.
TD stands out for its US dollar chequing accounts. While not every Canadian bank offers a US dollar account, TD has two options: the TD US Daily Interest Chequing Account and the premium Borderless plan. The US Daily Interest Chequing Account has no monthly fee, and facilitates easy cross-border banking, bill payments and exchanges between US and Canadian dollars. Daily interest is calculated on all balances over $1,000, beginning at 0.01% and increasing in tiers up to 0.05% on balances over US$60,000.
- No monthly fee
- Interest ranging from 0.01–0.05%
- 10% savings on TD Travel Medical Insurance
- $1.25 fee for each transaction; no transaction fees for accounts with a minimum balance of $1500
Click here to apply for the TD US Daily Interest Chequing Account
RBC Chequing Account
RBC has four different chequing accounts, along with a youth account and a discount for seniors. The monthly fees range from $4 up to $30, with a number of extra features and rebates included in the top-priced account. Every account also includes some type of multi-product or credit card fee rebate, and you’ll get a debit card, mobile app, and the option of low-cost overdraft protection too.
RBC’s Day to Day Banking chequing account stands out as one of our favourite basic chequing accounts. The monthly fee is just $4, and if you are a senior, a Registered Disability Savings Plan beneficiary, or have two or more eligible RBC products in the same region, you can get a partial or full waiver on the fee. The account also includes:
- 12 free debits per month
- Unlimited free Interac e-Transfers
- Extra transactions for $1 each
- Option to link your RBC debit card to save money on fuel at Petro-Canada and earn 20% more Petro-Points
Click here to apply for RBC’s Day to Day Banking chequing account
Who Needs a Chequing Account?

Photo credit: Shutterstock
Almost everyone. A chequing account is an efficient tool to receive payments, like monthly earnings, and hold them securely. Keeping your money in cash under your mattress isn’t a safe option. With a chequing account, you can make it easier for your employers and friends to pay you and you can rest assured that your money is safe.
Most of us are eligible for at least a basic chequing account, but a bank might reject an applicant who has a history of mismanaging prior accounts at other banks. Those who find themselves in this position can consider other options for making payments, like prepaid debit cards.
If you are interested in getting a chequing account, keep in mind that different account types are suited to different individuals. In order to pick the best chequing account in Canada for you, we recommend that you compare the options out there with an eye for the specific features you require.
Types of Chequing Accounts
Most Canadian banks offer different variations on the below account types, with each account type serving a slightly different purpose.
Personal (Basic) Chequing Account
A personal, or basic chequing account is the standard account in Canada. You’ll get a certain number of monthly transactions along with extra features, depending on which account you choose. You’ll generally have to pay a monthly fee of between $4–$30, which varies according to the features and number of transactions on offer.
No-Fee Chequing Account

Image credit: Shutterstock
A no-fee chequing account is a personal free chequing account. Although this is great for anyone who wants to save money, it tends to come with strings attached. You won’t get nearly as many features as you might with a fee-paying account, and you’ll usually be limited to a set number of transactions per month. You might also have to keep a minimum average bank account balance in order to avoid paying fees. Direct/virtual banks are an exception to this rule, as their lower operation costs might allow them to provide a chequing account for no monthly fee and few if any transactional fees.

Image credit: Shutterstock
Hybrid/Alternative Accounts
Some digital financial institutions offer accounts with essential payment and cash management functionality, combined with the earned interest, cash back or rewards that you would associate with a savings account or credit card. Like a chequing account, these hybrid accounts will often equip the accountholders with a debit or prepaid card, while also supporting bill pay, Interac e-Transfers, and direct deposit of paycheques. Unlike a chequing account they typically will not issue paper cheques, support overdraft, process wire transfers, or provide customer service in traditional bank branches. Most consumers use these accounts in addition to rather than instead of a traditional chequing account, but this may change as the world becomes more and more cashless and cheques grow obsolete.
A good example of these new hybrid account types is KOHO, which allows accountholders to load money and then spend it via a KOHO Prepaid Mastercard® or by withdrawing cash at an ATM. KOHO is attractive because it comes with an unusual perk for such an account type: cashback rewards. The no annual fee subscription version, KOHO Easy, offers 1% on Groceries + Transportation and up to 5% cash back extra at partnered merchants, and allows you to earn 0.5% interest on your entire account balance (with no minimum deposit requirement).
Student Chequing Account
Student accounts are designed especially for students, usually only those in full-time education. Most student accounts have age restrictions, typically requiring that you be between 18 and 25, although these do vary. Student chequing accounts generally charge lower or no banking fees and might offer limited perks and rewards.
Youth Chequing Account
Youth chequing accounts are for people under their provincial age of majority. Accountholders will usually pay no or low bank fees and might earn some interest on their money.
US Dollar Chequing Account
US dollar chequing accounts are designed for individuals who want easier cross-border transactions. They usually let you withdraw your money in US dollars from the right ABM without any currency exchange fees and make it easy to pay for transactions in US dollars.
What to Look for in a Chequing Account
Before you open a chequing account, ask yourself these questions:
How many transactions do I need per month?
If you need a lot of monthly transactions, you might go with the Scotiabank Ultimate Package, which offers unlimited debit transactions3 for a monthly fee of $30.95. The fee is waived with maintaining a minimum daily closing balance of $5,000 in your Ultimate Package, or a combined balance of $30,000 across your Ultimate Package and your MomentumPLUS Savings Account.
3 Conditions apply. Visit here to learn more.
On the other hand, if you need relatively few transactions you might opt for an account like the CIBC Everyday Chequing Account, which allows you up to 12 transactions per month for a low fee of $3.90.
Do I carry out most of my banking transactions over the phone, via the internet, or in person?
Different banks offer different banking platforms: the Tangerine No-Fee Daily Chequing account charges $0 per month for unlimited daily and email transfers, e-statements and online banking, but Tangerine offers little in-person service, so users need to feel comfortable executing their banking needs online.
Other bank accounts still support in-person service, like the RBC No Limit Banking account: unlimited teller-assisted transactions for $10.95 per month.
What will be my average monthly minimum balance?
Some bank accounts provide benefits for maintaining a minimum monthly balance: the TD Minimum Chequing Account rebates its monthly fee if account holders maintain a minimum balance of $2,000 or more. BMO’s Premium Plan sets the bar a bit higher, waiving its $30 monthly fee if your monthly balance is over $6,000, and offering other substantial account perks.
Do I want a no-fee chequing account?
Some accounts charge no monthly fee whatsoever, regardless of the account holder’s account balance. The Tangerine No-Fee Daily Chequing account charges no monthly fee for unlimited self-serve transactions.
Do I need features such as free Interac e-Transfers?
If you anticipate doing a lot of Interac e-Transfers, make sure your chequing account won’t charge you a fee for these. BMO offers free Interac e-Transfers on all its chequing accounts, including the Practical Plan which charges a fee of $4 per month.
Do I need easy access to US dollars?
If you travel frequently to the US, you might opt for an account specifically geared for that lifestyle. The TD Borderless Plan offers quick and easy exchange between US and Canadian dollars, unlimited transactions and a monthly charge of $4.95.
Another option is the RBC US Personal Account, which charges $2 per month for 6 monthly transactions in either US or Canadian dollars.
Is it important that I earn interest on my chequing balance, or rewards/cash back on my purchases?
If it’s important to you to make some money on your account balance or purchases, there are some chequing accounts out there that provide those features. Tangerine’s No-Fee Daily Chequing account offers interest on its account balances, and all Scotiabank chequing accounts can earn rewards on debit transactions with the Scene+ TM Program.3
3 Conditions apply. Visit here to learn more.
TM Trademark of Scene IP LP.
Cheque Your Options
The advent of digital banking has brought a number of new, competitive chequing accounts to Canadians. If you’re tired of paying annoying fees for basic banking transactions, now is a great time to consider more competitive offers from financial organizations vying for your business. Some people are even opting to close their bank account and move to digital accounts altogether. If you don’t have a chequing account of any kind, you might explore the security and access to commerce that a chequing account can provide.
†Interac e-Transfer is a registered trade-mark of Interac Corp. Used under license.
Article comments
knowledge user
Outdoors,
Is that a chequing account?
Hi, I am currently looking for a new chequing account. What of the big 5 is the best to go with? Thanks in advance.
Hi Marko,
I think the best to go with should mean the best for you that align with your financial goals. As you see from this article, certain chequing accounts are best for certain types of people. For example, if you drive quite a bit you may want to save more on gas, then RBC’s Day-to-Day Banking Chequing Account may be for you because you can link it to your Petro-Canada points card and earn 20% more Petro Points. However, the fee for that account is $4, so if you want to prioritize no-fees, try Tangerine No-Fee daily chequing. That account also allows you to earn a little bit of interest on the money that sits in there. If you’d rather earn cash when opening an account right away and you’re able to keep a daily balance of at least $5,000 (to avoid the fees) then try the Scotiabank Ultimate Package because you will get $300 just for opening it. So you see, which account is best depends on which one is best for you personally and where your priorities are. There’s no single chequing account that would be best for everyone because we all prefer different things and have different financial priorities.
Check out Motive Financial. Savings account rate is 2.05% currently and chequing accounts have no fees. ATM service is free if you use exchange network (credit union network). First 50 cheques they send to you for free. Also check out EQ Bank.
Hi, thank you for this info.
I’ll be moving Canada in probably few weeks. What is the best bank for a normal checking or saving account, I am happy to put some minimum balance but then I want all the ATM withdraws (same bank) and online/mobile app banking/transfers for free or very very low cost. Should be a good bank not charge any hidden fees.
Appreciate your help.
Hey Ali!
We’re glad to receive you comment and are excited to learn more about your upcoming move to Canada! You’ll be most welcome. If you’re looking for a “normal” bank account that’s highly accessible and offered by one of the biggest financial institutions in Canada, then opt for anything from the “Big 5”: RBC, TD (or MBNA), Scotiabank, BMO, or CIBC. Any of these banks features a huge array of accounts and cards to suit your new status, and they’ll help you get set up with a credit score and all the documentation you need to borrow in the country.
Given what you say about your preferences for low fees (and no qualms about a minimum balance), then we hope the BMO Performance Plan account will be ideal for you. BMO is one of the Big 5, of course, meaning they have a universal presence virtually everywhere in Canada (this is good for you because you’ll likely need some help from a banker getting set up as a new resident). The Performance Plan account has a monthly fee of $13.95 and requires a minimum balance of $3,000, but then you’ll get unlimited transactions of all varieties.
If you think that you’ll survive without relying on teller or banker interactions face-to-face, then Canada’s selection of online only banks is also a good choice. Motusbank’s No-Fee Chequing account for example gives you 0.50% interest without any monthly or annual fees, and no minimum balance either. Hope we helped narrow down your options a bit—we know being new to Canada can be intimidating, but please feel free to us use as a free resource if needed. Either comment here or email us at [email protected] – thanks!
GreedyRates
Hello Greedy Rates Team,
Did you look at Manulife Bank? (Advantage Account) It would be great to get your thoughts.
They are currently offer a high savings rate and unlimited transactions but I’m not sure if there are other things to consider before signing up.
Hey Steven,
We’re aware of Manulife but haven’t looked too deeply into their financial products, but have heard good things. Be sure to look closely at the fine print and certain caveats when scrutinizing chequing and savings accounts, and we can tell you already by looking at the Advantage account that you’re required to have a $1,000 balance to escape fees. If you don’t keep this balance then your fees might get overbearing quickly. Another fine print detail you might have missed is the two parts of their advertised interest rate of 3.25%. The 1.50% is a variable base rate with an extra 1.75% promotional rate tacked on top, and there’s no guarantee the base rate won’t change, which adds an extra variable to consider.
GreedyRates
I did some research and Alterna Bank has the best chequing account for me. It’s the only no-fee account I found for people living in the province of Quebec, with no monthly fee, no minimum daily balance, free unlimited transactions and free unlimited interac e-transfers. It all depends on what you are looking for!
Hi Jerome
How is there customer service? With online bank like Tangerine and Simplii I am a bit skeptical as the only way you can contact them is via phone or email. So far the reviews about their customer service is not encouraging. If Alterna has a branch where I can walk then I would prefer it over online only banks.
Hey Arif,
The main choice that banking customers need to make when comparing online-only banks like Tangerine and Simplii with traditional banks like BMO or RBC, is whether they’re willing to sacrifice customer service for financial products with more benefits. Banks that cut out their personal service staff and replace them with live chat or phone lines can save lots of money, which then translates into better rates and perks for their credit cards and loans. However, as you’ve noticed (and this applies to Alterna as well) these banks require you to be very comfortable with an online-exclusive experience.
In the end, if you’d prefer face-to-face service, you should go with the two banks mentioned above or others like Scotia, MBNA or TD. What kinds of cards are you looking at? Let us know what you desire most and we can provide some suggestions which meet your criteria and also provide excellent service. Thanks again for posting.
GreedyRates Staff
You have some accounts listed as $0 fees, but there is usually a catch. Eg. Scotia One is $14/mo or $0/mo if you hold $4,000 in the account and never go under that. If you were to instead invest that $4k and received a 4% return you would end up with the same amount as you’re “saving” on fees so it’s a moot point. You’re being charged $14/mo one way or another with Scotia One
Hi Daniel,
Appreciate the wisdom, thanks for sharing. We agree that it’s crucial to take into account monthly fees and other conditional clauses in the fine print. That might mean you need to hold a certain amount of money in the account itself to be eligible for certain benefits. Sorry for not covering it thoroughly enough, but we always appreciate readers who are willing to step up and help us out!
GreedyRates
President’s Choice Financial (P.C. Financial) recently changed to Simplii Financial. NO Interac fees, no bank or e-transfer fees, no fees for cheques. I don’t know why everyone doesn’t bank with them, they’re great!
Hey Sue,
Thanks for bringing up Simplii and the former PC Financial! It’s great you just found out about this, because we’re also big fans of this relatively new banking brand from CIBC, and its introduction in 2017 has brought numerous benefits to Canadians. For those prospective customers who find themselves moving money between their various accounts, the zero-fee Interac eTransfer deal is great as it saves lots of cash in fees over time. Another perk that we’ve mentioned once or twice is that cardholders get to use CIBC ATMs all across Canada without fees, which further fattens your wallet. Besides being a good place to bank overall, these perks make it great for many Canadians, including yourself. Enjoy!
GreedyRates
They are great… except when you have problems and have to do things by phone call because there is no bank to go to and phoning is such a hassle being on hold etc…it was good until now with a major problem and can’t just walk into a bank to fix it
Hi Janet,
Thanks very much for the great comment. We’d like to use it as an opportunity to discuss the idea that online only banks, such as Tangerine, come with pros and cons that must be carefully considered by potential customers. The lack of a face-to-face dispute system or customer service desk is hugely counterintuitive to some cardholders, largely the older crowd, who prefer to interface with real humans and know that there’s someone who is empathetic to their current problem. On the other hand, banks that are only online tend to have lower overheads and can offer some truly innovative financial products with excellent terms. We’re sorry that a problem drew such a contrasting line between these two systems for you, but at least you now know which type of account is best for you.
GreedyRates
I certainly agree with Janet. If you have a problem and have to phone, be prepared to be put on hold for very long periods of time. I thought it was much better when it was under President’s Choice Financial.
Hi Louise,
You’re correct that customers shouldn’t expect to get through to a customer service person in seconds every time they call. It helps to call during off hours (early in the morning or later at night), and in our experience this reduces the time you wait on hold significantly. It’s nice that you’ve offered a kind word about PC Financial customer service as well, and other readers should take note. Thanks!
GreedyRates
I believe you said tangerine has free unlimited interac e-tranfers. On their website, they say they offer unlimited email money transfers, and charge $1 for interac e-tranfers
Hi Evan,
Thanks for the comment on the Tangerine No-Fee Chequing account. You’re correct, and we can confirm that if you appreciate email money transfers the account offers an unlimited amount of them each month for no fee, but for Interac eTransfers, a price applies. Though it’s one of the lowest around at just $1 per transfer, it could eat into the price of your smaller payments. If you’re looking at frequent Interac eTransfers and this is a big requirement of your choice in chequing account, perhaps consider an account that has unlimited eTransfers for a bulk price.
For example, the BMO line of chequing accounts all offer unlimited eTransfers from Interac, but these accounts also have a monthly fee. With the least expensive option just $4 per month, if you do at least 4 transfers per month then it’ll be worthwhile to pay the monthly fee rather than get the No-Fee Tangerine account. Thanks for coming to elaborate on this deal and good luck choosing your future chequing account!
GreedyRates
As a note, the 4$ BMO chequing account no longer waives the monthly fee. That’s why I am looking for a new chequing account 😛
Hi Anonyme,
Thanks for the great comment about BMO’s chequing accounts. We double checked the bank’s website and can confirm that the Practical account ($4 per month) no longer lists a minimum balance to waive the fee. If avoiding monthly fees was your primary objective, and you don’t want to deposit the $3,000 or more required by BMO’s other chequing accounts, you can still find excellent alternatives on the Canadian market. One of those is the flexible and modern Tangerine No-Fee Chequing Account, which has zero monthly fees (obviously) but also some nice quality-of-life perks such as unlimited daily transactions, free use of Scotiabank ABMs, Apply Pay and other contactless payment methods, and variable interest rates regardless of your balance.
Another account that might suit your needs is from CIBC. They have a few inexpensive accounts to browse, but the monthly fee will depend on how many transactions you plan on making. Otherwise, our ability to suggest options is limited at this point by our lack of knowledge about you. If you like, tell us in another comment or email (to [email protected]) about what you need most in a chequing account. Are you a student or senior? Do you detest the idea of keeping a minimum balance? Do you have other accounts and require multiple free Interac e-transfers each month? We’d like to help you on your search!
GreedyRates
I’m with td.. My question is is there a better cheaper bank to be with
Hey Oliver!
Thanks for your comment. If you’re looking for a cheaper bank than TD, might we inquire what is it about TD that’s so expensive? Do you have a chequing account, savings account, or some other type of account(s) with TD? Or perhaps you’re making more transactions than TD allows for free and are racking up charges. Annual fees may also be relevant, but without further criteria we’re merely stabbing in the dark. Please get back to us with more details on where you’d like to save money and what you’re looking for in a bank account. We’ll be happy to assist!
Thanks again,
GreedyRates
I have a similar question, I’m with TD at present and have a chequing account, savings account, LOC and CC. The lack of decent interest rates and high fees have me looking at alternatives.
Hey FEJ,
If you’re sick of poor interest rates and high fees, then it might be time to switch from TD to a different bank. In fact, we wrote an article very recently that compares the best savings accounts from Canadian banks in 2018. Read it and you’ll discover that there might be some better alternatives to TD, though in the end this choice is always subjective. For example, a new promotion from Tangerine gives an impressive 2.75% interest for new clients and a regular rate of 1.25%, which is still one of the market’s most competitive. With no extra fees for transfer, no minimum balance, and the ability to unlock a third 2.00% cash back category on Tangerine’s Money Back Mastercard, Tangerine is creating Canada’s most lucrative cash back savings combo.
Another option is the BMO Savings Builder, which can get up to 1.40% interest for eligible applicants. If one of these options sounds appealing, or you find a better one yourself, then doing a balance transfer to the bank in question is a great idea. Many banks these days offer balance transfer promotions for new customers, meaning you can consolidate your current line of credit, loans, and credit cards under the same rate (if applicable). Let us know what you’re thinking, and if you need any further assistance. We’ll be happy to comply.
GreedyRates