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Free Canadian chequing accounts with no minimum balance
December 5, 2022
5:53 am
Doug
British Columbia, Canada
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iotama said
This is brilliant. Thanks a lot Doug! Thanks Peter for implementing!

Feature request: A column indicating "External account linking method" perhaps? Possible values could be

- Void cheque (via secure msg/email)
- PDF/Web PAD form (ext bank a/c details via secure msg/email)
- Flinks (provide ext bank's username & password)
- None/NA  

Hi iotama,

No problem. I wouldn't want to add too many columns to the chart, but in that case, that is actually a very useful and good suggestion. I will add that shortly, probably to the right of the NTB electronic account opening column. sf-cool

Cheers,
Doug

December 5, 2022
3:34 pm
smayer97
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Is there any way to move the title bar outside the list, so it maintains visibility while scrolling?

June 6, 2023
6:45 am
Doug
British Columbia, Canada
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Small update: LBC Digital has stop sold all LBC Digital banking products, though, at least for now, existing clients can continue to use them, and stopped all customer acquisition activities. As a result, LBC Digital has been removed from the free chequing comparison chart (https://www.highinterestsavings.ca/free-canadian-chequing-accounts/).

It's too bad...they just can't compete with the established "Big Four" digital banking competitors being Tangerine, Simplii Financial, EQ Bank, and Alterna Bank as they never built scale. It makes sense to see them continue the operation as part of Laurentian Bank, though they do need to ensure customers can source GICs digitally via Laurentian Bank.

Motive Financial has built a bit of scale in deposits and, to a lesser extent, customers, they don't have the staff to support those customers, meaning customers have to wait weeks for a response. It would not surprise me now to see Canadian Western Bank wind the division down, or perhaps rolling it up into Canadian Western Bank and creating a CWB digital only fee-free chequing account. sf-cool

Motus Bank will likely be the next closure in 2023.

Cheers,
Doug

June 7, 2023
8:33 am
RetirEd
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Chequing still matters - for sending payments by mail to non-tech-savvy creditor payments such as rent and other recurring payments.
RetirEd

RetirEd

June 7, 2023
9:18 am
fat_dog
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I find cheques useful . Some times it is us full to write terms on cheques like " paid in full " this forms a contract when the cheque is cashed .

and writing a cheque the bank has to check signatures .
( in theory ) make them responsible for identifying it is you .
this could be important in court trying to get you money back if fraud has occurred

this in better in my view than just having a number that any one might be tricked out of like with debit cards internet bank sign in and a like .

How do people on here use cheques if they do use them ?

June 7, 2023
11:58 am
Alexandra
British Columbia
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fat_dog said
I find cheques useful . Some times it is us full to write terms on cheques like " paid in full " this forms a contract when the cheque is cashed .

and writing a cheque the bank has to check signatures .
( in theory ) make them responsible for identifying it is you .
this could be important in court trying to get you money back if fraud has occurred

this in better in my view than just having a number that any one might be tricked out of like with debit cards internet bank sign in and a like .

How do people on here use cheques if they do use them ?  

I do them for anyone I hire for working around the house if they don't take a credit card. Most don't mind a cheque as they take a picture on their cell and transfer it into their account without having to go to the bank. I prefer this to doing an e-transfer to an individual.

June 7, 2023
12:03 pm
AltaRed
BC Interior
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I use the occasional cheque with a business that prefers (demands) it because the amount is too large for an e-transfer and/or they do not want to pay merchant fees on a credit card and/or they are not part of the Bill Payment system. Two examples over the past 12 months: 1) I purchased a new vehicle, and 2) just completing $40k in renos in the house with a contractor.

I also use cheques occasionally for gifting amounts >$3k to individuals. I have yet to run out of my first batch of 50? 100? cheques from circa 2012.

June 7, 2023
12:45 pm
canadian.100
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Can u recommend an online source to print up personal cheques at a low cost?
The bank in mind does not provide free cheques.

June 7, 2023
12:52 pm
savemoresaveoften
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canadian.100 said
Can u recommend an online source to print up personal cheques at a low cost?
The bank in mind does not provide free cheques.  

There are multiple vendors that offer cheque printing at roughly 1/2 of what a bank will charge. There is a min order like 50, etc tho
Just google cheque printing services and take your pick. Dont want to provide names as I only used one company before and forget their name. Dont want to endorse any one company over another.

June 7, 2023
1:26 pm
Loonie
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We've had success with asapcheques

June 7, 2023
1:39 pm
Briguy
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I've satisfactorily used Asap-cheques.com and chequesplus.com

June 7, 2023
2:00 pm
Norman1
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ASAP Cheques and Cheques Plus are less expensive than through ordering cheques through the banks. They aren't cheap though.

I've ordered from both. One will be paying something like $25 to $30 through them instead of $50+ through a bank.

June 7, 2023
3:28 pm
canadian.100
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Thanks to each of you above. I contacted several of these suppliers and here are the costs which I will share with you. Guess any will do an ok job - did not hear any to avoid.

Cheques Plus is 27.99 for 100 cheques with no shipping charge
ASAP Cheques is 100 cheques for 30.00 plus 4.50 shipping
Staples is 35.99 for 80 cheques and no shipping if you pick up at store
Cheques Now is 80 cheques for 56.00 no charge for shipping
Discount Cheques is 160 cheques for 45.00 no charge for shipping
My big bank is 100 cheques for 55.58 plus 9.68 for shipping

All above are before tax
You can pay extra shipping from each for faster delivery

June 7, 2023
3:53 pm
Briguy
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Doug said
I've updated the free chequing comparison chart.
Doug  

Excellent work, Doug ! A consideration, probably too much work to implement, is chequing accounts free by virtue of being a senior, usually amounts to 4.00 off their cheapest no frills chequing account.
eg. BMO Practical ( free for 60 plus ) , Scotiabank Basic ( free for 60 plus ) , CIBC ( nothing free ) , TD ( only free if collecting Guaranteed Income Supplement ) , RBC Day to Day Banking

June 7, 2023
3:56 pm
Briguy
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canadian.100 said
Thanks to each of you above. I contacted several of these suppliers and here are the costs which I will share with you. Guess any will do an ok job - did not hear any to avoid.

Cheques Plus is 27.99 for 100 cheques with no shipping charge
ASAP Cheques is 100 cheques for 30.00 plus 4.50 shipping
Staples is 35.99 for 80 cheques and no shipping if you pick up at store
Cheques Now is 80 cheques for 56.00 no charge for shipping
Discount Cheques is 160 cheques for 45.00 no charge for shipping
My big bank is 100 cheques for 55.58 plus 9.68 for shipping

All above are before tax
You can pay extra shipping from each for faster delivery  

If you go through a lot of cheques you can get a better deal for 200.

June 7, 2023
5:15 pm
Loonie
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Some of them used to offer much smaller quantities for less money but I guess those days are gone.
I would guess that most of us would take a lifetime to get through 100 cheques! - unless perhaps you have to use them for rent. They are indispensable though when buying GICs from deposit brokers.

Thanks for the report.

June 7, 2023
5:43 pm
Alexandra
British Columbia
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Briguy said

Excellent work, Doug ! A consideration, probably too much work to implement, is chequing accounts free by virtue of being a senior, usually amounts to 4.00 off their cheapest no frills chequing account.
eg. BMO Practical ( free for 60 plus ) , Scotiabank Basic ( free for 60 plus ) , CIBC ( nothing free ) , TD ( only free if collecting Guaranteed Income Supplement ) , RBC Day to Day Banking  

Re: CIBC I have a day to day banking account with them. They have a service charge for senior's like me every month. For me they debit my account and then they credit it back again on same day. My bank rep said I am grandfathered in and they can't charge me. No charges for my RBC bank accounts either. No free cheques with CIBC though.

June 7, 2023
5:47 pm
Alexandra
British Columbia
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Alexandra said

Re: CIBC I have a day to day banking account with them. They have a service charge for senior's like me every month. For me they debit my account and then they credit it back again on same day. My bank rep said I am grandfathered in and they can't charge me. No charges for my RBC bank accounts either. No free cheques with CIBC though.  

Sorry, CIBC account is called CIBC Smart Account. May 31st Debited $6.95 and then credited back on same day.

June 7, 2023
6:08 pm
Briguy
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Alexandra said

Sorry, CIBC account is called CIBC Smart Account. May 31st Debited $6.95 and then credited back on same day.  

You're right, I went deeper into the CIBC Smart Account and it's free for seniors if you keep to 12 or under transactions per month. And you have to be 65 or older, compared to 60 at Scotiabank and BMO.

I don't think seniors can get free chequing account at TD unless they're on Guaranteed Income Supplement or ODSP

June 7, 2023
7:02 pm
AltaRed
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I think the aberrations and types of chequing accounts are far too numerous to be dealt with in any meaningful way on a chart. It is complicated enough as it is (didn't know that chart existed until yesterday).

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