Best chequing accounts in Canada 2019 - Your thoughts? | General comparisons | Discussion forum

Simplii Financial, while admirable and potentially better than Tangerine, is a decent choice; however, the process by which clients are required to link their external bank accounts is woefully outdated, requiring a branch domicile stamped account verification form in lieu of a voided cheque. Most other financial institutions simply accept a recent e-Statement as proof of account ownership. As well, there is that 1-day delay on transferring funds from one's HISA to one's no-fee chequing account (for those that don't have electronic verification processes, that is).

On the whole, that article is essentially useless, highlighting chequing accounts that require maintaining a minimum monthly balance and even Big 5 bank chequing accounts.

In my view, and I'm slightly biased here, HighInterestSavings.ca provides the best roundup of no-fee chequing accounts that do not require maintaining a minimum balance in one's chequing account and which also aren't limited to the 57-65+ set. 😉

Link: https://www.highinterestsavings.ca/free-canadian-chequing-accounts/

As well, I have to wonder if MoneySense, despite their claims to maintain editorial independence, is either (a) writing sponsored articles on their website or (b) favouring in their articles advertisers to their site, which has been owned by (since late 2018) a group of mortgage brokers and investment professionals. 🙁

For that reason, MoneySense is a "hard avoid" for me, and I tend to read Benefits Canada, Investment Executive, Wealth Professional, Advisor, the Saskatchewan Pension Plan Blog Save with SPP, RedFlagDeals, and this site. On that later note, I particularly appreciate that Peter has kept the HighInterestSavings.ca Cash Back Promotions site editorially separate from the main HighInterestSavings.ca site.

Cheers,
Doug

If you already invest with CIBC investors edge, their new smart plus checking acct is the best out there, assuming you do have $100k investment with Investors edge. (GIC at CIBC bank counts too but I would recommend if you actually have some, at maturity switch to CUs or other online banks which offers much better interest).

CIBC smarts plus no monthly fee as long as:

1) min 6k balance or $100k combined investment (this is what you need, the min balance is not attractive)
2) includes no fee a VISA dividend infinite card which gives u 4% rebate on gasoline and groceries

The smart plus covers pretty much most fee including ATM fee, ordering checks, ETF etc.

Not a fan of CIBC but I have that account given its offer is very attractive in my mind.

Kidd, I believe I have the same TD chequing account, had it since the 1970s, as long as I keep $2K minimum balance fees are waived. Though I did for the first time transfer money to someone's email last week and did get dinged for $1. I opened a Tangerine chequing account last year for the 50 free cheques which should last me about 25 years.