Best Checking Bank Accounts in Canada This November 2025
Over 73% of Canadian consumers are actively seeking more competitive banking solutions this year. According to the Financial Consumer Agency of Canada, banking preferences are rapidly evolving, with consumers prioritizing low fees, robust digital services, and flexible account options. Navigating the complex landscape of banking options can be challenging, but this comprehensive guide will help you identify the top checking accounts that offer the best value, features, and financial benefits for Canadian consumers in November 2025.
Jump to
Summary Table for Best Checking Bank Accounts in Canada This November 2025
| Account | Interest Rate | Monthly Fee | Min Balance | Open Account |
|---|---|---|---|---|
|
Wealthsimple Cash Personal Banking |
2.5% | $0 | $0 | Open |
|
EQ Bank Personal Account Personal Banking |
3.00% | $0 | $0 | Open |
|
Tangerine No-Fee Daily Chequing Account Personal Banking |
2.50% | $0 | $0 | Open |
|
Scotiabank Ultimate Package Personal Banking |
4.05% | $30.95 | $6,000 | Open |
|
CIBC Smart Account (Tiered) Personal Banking |
0% | $16.95 | $4,000 | Open |
|
TD Unlimited Chequing Account Personal Banking |
0% | $17.95 | $4,000 | Open |
|
RBC Signature No Limit Banking Personal Banking |
0.01% | $16.95 | $0 | Open |
|
Simplii Financial No Fee Chequing Account Personal Banking |
0.01% | $0 | $0 | Open |
1. Wealthsimple Cash
Wealthsimple Cash is a revolutionary digital chequing account that offers Canadians a high-interest banking solution with zero monthly fees and unique rewards. It combines a chequing account, savings account, and prepaid Mastercard into one streamlined financial product.
Wealthsimple Cash
- Zero monthly account fees
- 1% cashback on qualifying bill payments
- Free Interac e-Transfers
- No foreign transaction fees
Pros
- No monthly fees
- High interest rate potential
- Free international transactions
- Comprehensive digital banking features
Cons
- High interest rate requires $500,000 in assets
- Limited to Canadian residents
- No physical bank branches
Why is it Our Top Pick?
Wealthsimple Cash stands out for its exceptionally high interest rate, reaching up to 2.5% for clients with substantial assets, combined with zero fees and comprehensive banking features. Its flexibility and modern digital approach make it an attractive option for tech-savvy Canadian banking customers.
2. EQ Bank Personal Account
EQ Bank's Personal Account offers Canadians a digital banking solution that combines high-interest earnings with comprehensive everyday banking features. It provides a flexible, fee-free account that works like a chequing account while delivering savings account-level interest rates.
EQ Bank Personal Account
- Unlimited free Interac e-Transfers
- Free ATM withdrawals across Canada
- No minimum balance requirements
- Direct deposit bonus interest
Pros
- High interest rate
- No monthly fees
- Unlimited transactions
- ATM fee reimbursement
Cons
- Online-only banking
- Limited financial product range
- No physical branch access
3. Tangerine No-Fee Daily Chequing Account
The Tangerine No-Fee Daily Chequing Account offers Canadian banking with zero monthly fees and unlimited transactions, making it an attractive option for cost-conscious consumers seeking flexible everyday banking.
Tangerine No-Fee Daily Chequing Account
- No monthly fees
- Unlimited daily transactions
- Free Interac e-Transfers
- Access to 3,500+ ABMs
Pros
- Zero monthly account fees
- Unlimited free transactions
- Easy online/mobile banking
- Free e-Transfers
Cons
- $1.50 fee for non-Scotiabank ABM withdrawals
- $45 NSF fee
- $2.50 foreign currency conversion fee
- $20 dormant account fee after 2 years of inactivity
4. Scotiabank Ultimate Package
The Scotiabank Ultimate Package is a comprehensive banking solution designed for customers seeking premium features, offering extensive benefits across spending, saving, investing, and borrowing with multiple fee waiver opportunities.
Scotiabank Ultimate Package
- Unlimited debit transactions
- No fee international money transfers
- Fee waived with $6,000 minimum balance
- 10 free equity trades with Scotia iTRADE
Pros
- Comprehensive banking package
- Multiple fee waiver options
- Integrated investment services
- Preferred rates across products
Cons
- High monthly fee if balance requirements not met
- Complex fee structure
- Requires significant minimum balance
- Potential additional transaction fees
5. CIBC Smart Account (Tiered)
The CIBC Smart Account is a flexible, tiered chequing account that offers reduced or waived monthly fees based on your average account balance. It provides a range of benefits for different customer segments, including students, seniors, and newcomers.
CIBC Smart Account (Tiered)
- Tiered banking structure with different benefits based on account balance
- Unlimited transactions for accounts with $40,000+ average monthly balance
- No monthly fee for specific groups (youth, students, seniors, newcomers)
- Ability to waive monthly fee by maintaining $4,000 daily balance
Pros
- Flexible fee structure
- No minimum balance for certain customer groups
- Comprehensive banking package
- Welcome bonus for new customers
Cons
- Monthly fee of $16.95 for most account holders
- Requires $4,000 minimum balance to avoid monthly fee
- Limited interest earning potential
- Complexity of tiered banking system
6. TD Unlimited Chequing Account
The TD Unlimited Chequing Account offers comprehensive banking with unlimited transactions and flexible fee options, making it an attractive choice for customers seeking a versatile everyday banking solution.
TD Unlimited Chequing Account
- Unlimited monthly transactions
- Free Interac e-Transfers
- No fees at TD ATMs
- Monthly fee waivable with $4,000 minimum balance
Pros
- Unlimited transactions
- Flexible fee waiver options
- Generous welcome bonus
- Free e-Transfers
Cons
- High monthly fee of $17.95
- Requires $4,000 minimum balance to avoid fee
- Limited interest earning
- Additional fees for international ATM usage
7. RBC Signature No Limit Banking
RBC Signature No Limit Banking offers a comprehensive chequing account with unlimited transactions and valuable perks for customers seeking a premium banking experience. This mid-level account provides extensive benefits despite its higher monthly fee.
RBC Signature No Limit Banking
- Unlimited debits in Canada
- Up to $5,000 overdraft protection at no extra cost
- 3 free non-RBC ATM withdrawals per month
- Unlimited free Interac e-Transfers
Pros
- Unlimited transactions
- Comprehensive banking features
- Flexible overdraft protection
Cons
- High monthly fee of $16.95
- Additional fees after 3 non-RBC ATM withdrawals
- Limited value for low-transaction customers
8. Simplii Financial No Fee Chequing Account
Simplii Financial No Fee Chequing Account provides a cost-effective online banking solution with unlimited transactions and no monthly fees. Designed for customers seeking flexible, digital-first banking with minimal charges.
Simplii Financial No Fee Chequing Account
- Unlimited debit purchases and bill payments
- Free Interac e-Transfers
- Access to 3,400+ CIBC ATMs
- No minimum balance requirement
Pros
- No monthly fees
- Unlimited transactions
- Attractive welcome bonus
Cons
- Limited physical branch presence
- Reported poor customer service
- Minimal standard interest rate
Final Words
Selecting the ideal financial product ultimately depends on your individual goals, spending patterns, and financial situation. We recommend comparing the features and benefits of our top picks, then taking action to optimize your financial strategy for the current market conditions.
About the author
Frequently Asked Questions: Best Checking Bank Accounts in Canada This November 2025
What are the top no-fee checking accounts in Canada for 2025?
Wealthsimple Cash, Tangerine No-Fee Daily Chequing Account, and EQ Bank Personal Account offer the best zero-fee checking options with competitive features.
Which Canadian bank checking account offers the most comprehensive rewards in 2025?
Scotiabank Ultimate Package provides the most comprehensive rewards package with multiple banking perks and transaction benefits for active account holders.
How do I choose the right checking account with the lowest monthly fees in Canada?
CIBC Smart Account's tiered structure offers flexible fee options ranging from $0-$14.95 depending on account balance and transaction volume, making it an adaptable choice for different banking needs.
What are the minimum requirements to open a top checking account in Canada this November?
Most leading banks like Tangerine and Wealthsimple require only Canadian residency, valid government ID, and an initial minimum deposit of $50-$100 to open a checking account.
Which Canadian bank checking account has the best digital banking features in 2025?
Wealthsimple Cash offers industry-leading digital banking features with instant money transfers, integrated investing, and zero monthly fees for tech-savvy Canadian banking customers.