Fees & Limits
Online banking isn't free at every institution. Monthly account fees, e‑Transfer charges and daily transaction caps vary widely. Use this hub to compare costs across banks and credit unions. Where data is unpublished, we mark it as "Not provided" and suggest contacting the institution for confirmation.
Key Considerations
- Compare the monthly fee, any transaction allowance and the exact conditions for a fee rebate.
- A transfer fee can differ from the way a transaction counts toward an account allowance.
- Sending limits are set by the financial institution and can differ by customer, account and time period.
Find the terms for your scenario
| Institution | Account-fee question | Transfer question | Current provider reference |
|---|---|---|---|
| RBC | Confirm the exact account and rebate | Check transfer fee and transaction allowance separately | RBC account terms |
| EQ Bank | Check the specific account and optional services | Use the personal sending limit in your app | EQ Bank account terms |
| Scotiabank | Compare the account package and fee-waiver rules | Confirm current account-specific charges and limits | Scotiabank accounts |
| Tangerine | Check current product terms and additional charges | Confirm the limit displayed before sending | Tangerine chequing terms |
| Meridian CU | Check membership, account and transaction conditions | Confirm your personal limit with Meridian | Meridian accounts |
| TD | Four dated account examples are in the TD guide | Limits remain personal; no universal limit is assumed | Reviewed TD account examples |
Use the provider’s present fee schedule rather than an old search snippet. The calculator below works with your own entered assumptions; it does not retrieve a bank offer.
Frequently Asked Questions
Why do fees differ so much?
Fees reflect service levels, branch access and account features. Digital banks can charge less due to lower overhead.
Can e‑Transfer fees be avoided?
Yes. Some accounts include unlimited e‑Transfers as part of the monthly fee. Others require a premium package to waive the fee.
What happens if I exceed my daily limit?
Your transfer may be declined. Check the period the limit covers and contact your institution if needed. Splitting a transfer does not guarantee it will pass a cumulative limit or security review.
Are there fees for mobile cheque deposits?
Check the account’s transaction and deposit terms. A deposit may use part of an allowance, and a funds hold is separate from a service fee.
What about ATM withdrawal limits?
ATM withdrawal limits vary; check your bank's daily limit for cash withdrawals and note that fees may apply when using out‑of‑network ATMs.
Keep the calculation honest
Include the fee, extra transactions, ATM or paper-service charges you actually use, and the balance condition for each month. A lower advertised fee is not automatically a lower total cost. Interac explains institution-set transfer limits.
Related Resources
YOUR ASSUMPTIONS · ONE YEAR · CAD
A monthly fee. A bigger picture.
Compare the fee you pay with the return you might forgo on money you choose to leave idle. The examples are editable assumptions.
A: darker gold · B: butter · Months1–12. These are proportional monthly costs, not an interest-compounding schedule.
A $144.00 · B $120.00. Use the arrow keys to inspect each month.
See every chart value
| Month | Scenario A | Scenario B |
|---|---|---|
| 1 | $12.00 | $10.00 |
| 2 | $24.00 | $20.00 |
| 3 | $36.00 | $30.00 |
| 4 | $48.00 | $40.00 |
| 5 | $60.00 | $50.00 |
| 6 | $72.00 | $60.00 |
| 7 | $84.00 | $70.00 |
| 8 | $96.00 | $80.00 |
| 9 | $108.00 | $90.00 |
| 10 | $120.00 | $100.00 |
| 11 | $132.00 | $110.00 |
| 12 | $144.00 | $120.00 |
The method and its limits
Annual cost =12×the entered monthly fee + idle balance×the entered alternative-minus-account rate÷100. Money is assumed idle for a full year. Simple interest, before tax; no compounding, tiers, bonuses, ATM or transaction costs. Confirm any fee waiver independently before entering the fee after that waiver. The tool does not recommend an account or determine eligibility. Different real-world timing and terms can change the result.
Inputs stay in this page’s memory unless you explicitly Save, download, or choose to include the displayed summary with an enquiry. Nothing is saved automatically.