0.00%
Earn up to $900 in total cash bonuses plus up to 12 months of Walmart+ membership.
CA$17.95
CA$4,000
Unlimited transactions
The BMO Performance Chequing Account stands out as the top choice because it offers unlimited transactions without a monthly fee if you maintain a minimum balance of CA$4,000. This combination of features makes it an excellent option for those who want flexibility in their banking without incurring additional costs.
Pros:
- Unlimited transactions
- No monthly fee with minimum balance
Cons:
- No interest on balance
- High minimum balance requirement
2.Scotiabank Preferred Package Chequing Account
Scotiabank
0.00%
Earn up to a $700 welcome bonus by combining a new chequing account with a savings account.
CA$16.95
CA$4,000
Unlimited transactions
What sets this account apart is its ability to waive the monthly fee if you maintain a minimum balance of CA$4,000, along with various fee waivers and preferred rates across other product categories. This makes it a strong contender for those looking for comprehensive banking solutions.
Pros:
- Fee waivers for account holders
- Access to preferred rates
Cons:
- Monthly fee if balance requirement is not met
- No interest on balance
0.00%
New customers can earn a cash bonus (up to $500) when they open an account and complete qualifying activities.
CA$17.95
CA$4,000
Unlimited transactions
This account shines for its straightforward offering of unlimited transactions and a cash bonus for new customers, making it an attractive option for those who frequently use their chequing account. The ability to waive the monthly fee with a minimum balance adds to its appeal.
Pros:
- Unlimited transactions
- Cash bonus for new customers
Cons:
- No interest on balance
- Monthly fee if balance requirement is not met
4.National Bank Chequing Account for Newcomers
National Bank
0.00%
Newcomers can earn up to $600 in cashback by completing qualifying actions.
CA$0
N/A
Unlimited transactions
A key differentiator is the National Bank's commitment to newcomers, offering up to 3 years of free banking with unlimited transactions. This makes it an exceptional choice for individuals new to Canada looking for accessible banking solutions.
Pros:
- Up to 3 years of free banking
- Unlimited transactions
Cons:
- Limited to newcomers
- No interest on balance
5.Simplii No Fee Chequing Account
Simplii Financial
0.01%
New clients can earn a welcome bonus of $300 cash plus a $50 Skip gift card.
CA$0
N/A
Unlimited transactions
This account is the best option for those seeking a no-fee banking experience, offering unlimited transactions without any monthly fees. The welcome bonus further enhances its value, making it a compelling choice for new clients.
Pros:
- No monthly fees
- Unlimited transactions
Cons:
- Low interest rate
- Limited to online banking
Did you know?
Chequing account bonuses in Canada often require payroll deposit or bill payments. Confirm eligibility, fees, and how long you must keep the account before closing.
Final Words
In conclusion, July 2026 presents an array of attractive checking account bonuses across Canadian banks, with options like the BMO Performance Chequing Account standing out for its unlimited transactions and fee waivers. Be sure to compare these offers to find the best fit for your financial needs and maximize your rewards.
Frequently Asked Questions
The monthly fee for the BMO Performance Chequing Account is CA$17.95.
The Scotiabank Preferred Package Chequing Account offers unlimited transactions and a monthly fee of CA$16.95.
The TD Unlimited Chequing Account has a monthly fee of CA$17.95.
All three accounts—the BMO Performance Chequing Account, the Scotiabank Preferred Package Chequing Account, and the TD Unlimited Chequing Account—have an interest rate of 0.00%.
The BMO Performance Chequing Account offers unlimited transactions and the potential to waive the monthly fee by maintaining a balance of at least CA$4,000.
You can avoid the monthly fee for the BMO Performance Chequing Account by keeping a balance of at least CA$4,000 in your account.
Yes, some promotions may offer cash bonuses when opening certain accounts, but specific details should be checked with the bank for current offers.
When choosing a checking account, consider factors such as monthly fees, transaction limits, interest rates, and any additional benefits like cash bonuses or fee waivers.
