The Canadian Western Bank Apex Account is a chequing account with a palatable fee with all you need in an everyday account. This will unlock access to unlimited transactions and Interac e-Transfers, as well as a way to waive the $14.25 monthly fee.
Canadian Western Bank has branches throughout Canada, making it convenient for customers to access. That said, this can generally be seen as a standard account without a lot of bells and whistles, but it can save you money on outrageous monthly fees.
Canadian Western Bank Apex Account features
The Canadian Western Bank Apex Account has all the standard features you'd expect from a chequing account. Here are the details:
Why You Want It
Get unlimited free transactions + A low monthly fee that can be waived.
Eligibility
- Resident of Canada
- At least 18 years old
Provinces
AB, BC, MB, NB, NL, NS, NT, NU, ON, PE, SK, YT
Features
Minimum Balance To Waive Fee
$3,000
# Of Free Monthly Transactions
Unlimited
# Of Free Monthly Interac E-Transfers
Unlimited
Monthly Fee
$14.25
Excess Transaction Fee
N/A
Excess Interac E-Transfer Fee
N/A
Maximum Credit Card Annual Fee Waiver
N/A
Maximum Welcome Bonus
N/A
Promo End Date
N/A
Physical Locations
Automatic Budgeting System
Minimum Interest Rate
N/A
Earn Rewards On Debit Purchases
Free Cheques
Free Bank Drafts
Max Rebates For Other Accounts
N/A
Discounts For Seniors
Discounts For Youth
Other Discounts
Canadian Western Bank Apex Account product rating: 2.2 stars
Overall, this is a standard chequing account offering from Canadian Western Bank. With unlimited free transactions and a monthly fee that won't cause a quicksand effect on your money, it's not a bad option to have at all.
There are branches in western Canada as well as a smattering of branches in the Greater Toronto Area, so for a lot of Canadians, you'll have the option of visiting a physical branch if needed. Some areas we would hope to see more of include the lack of major perks or any welcome bonuses, but all of this comes with an annual fee that isn't too high, so realistically, the expectations can't be for some superstar savings.
That said, this sadly kind of can't compare with some of the free chequing account options since most of them offer unlimited transactions as well.
Rating methodology
To assess chequing accounts, we examine more than 30 data points to provide a reliable Genius Rating. We take into account all aspects of the account, such as fees, benefits, interest rates, customer satisfaction, accessibility, and promotions, to determine its overall value. The features of the account are then rated in comparison to other available options.
Learn more about our rating methodology.
The pros of Canadian Western Bank Apex Account
The Canadian Western Bank Apex Account has a few good things going for it, mainly that its monthly fee isn't outrageously high and that it has everything you would realistically need in a chequing account.
Pros
Unlimited free transfers included
Being able to move money around and not having to worry about hitting a limit of, say, 25 transactions per month adds a little bit of peace of mind. This includes debit transactions, ATM withdrawals (on the EXCHANGE Network), inter-account transfers, and more.
Free Interac e-Transfers
Sending money has never been easier. There are also free outgoing e-Transfers so you don't have to go all old school with a chequebook and envelopes.
A chance at a monthly fee waiver
There is a monthly fee of $14.25 (which is reasonable), but if you want to save some money, you can waive it if you have at least $3,000 in your account. This is checked on the last day of the month, so be sure to double-check if you normally skirt close to this limit.
The cons of Canadian Western Bank Apex Account
With pros, there are also going to be some cons. Here are a few things to keep in mind if you're interested in opening an account with Canadian Western Bank.
Cons
No other real perks
The Canadian Western Bank Apex Account doesn't really offer any more than the free transactions and e-Transfers. Other chequing accounts may offer things like free chequebooks or credit card fee waivers. With the monthly fee you pay, what we mentioned earlier is pretty much all you get.
No welcome bonus
Some chequing accounts have nice bank account offers (welcome bonuses) for completing some simple goals like setting up direct deposits or moving in a set amount of money. This account doesn't have any enticing bonuses to draw you into switching over.
Not available in Quebec
If you live in Quebec, you won't be able to get this account at this time.
Canadian Western Bank Apex Account alternatives
Here's how the Canadian Western Bank Apex Account stacks up against its competitors.
 |  |  | |
|---|---|---|---|
| Account | BMO Performance Chequing Account | Scotiabank Preferred Package | TD Unlimited Chequing Account |
| Genius Rating | |||
| Why You Want It |  $50 GeniusCash + Up to $700 in cash + a Walmart Delivery Pass Subscription for up to 12 months*. *T&Cs apply. | $100 GeniusCash + Get up to a $700* welcome bonus + Earn Scene+ points on all debit purchases. | $139 credit card fee waiver + Unlimited transactions and e-Transfers. |
| Minimum Balance To Waive Fee | $4,000 | $4,000 | $4,000 |
| # Of Free Monthly Transactions | Unlimited | Unlimited | Unlimited |
| # Of Free Monthly Interac E-Transfers | Unlimited | Unlimited | Unlimited |
| Monthly Fee | $17.95 | $16.95 | $17.95 |
| Excess Transaction Fee | N/A | N/A | N/A |
Show More | |||
| I Want This Deal See more BMO products Compare | I Want This Deal See more Scotiabank products Compare | Learn More See more TD products Compare |
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FAQ
Does the Canadian Western Bank Apex Account have a monthly fee?
Yes, the Canadian Western Bank Apex Account has a monthly fee of $14.25. This can be waived by having $3,000 in your account.
How many transactions can I get with the Canadian Western Bank Apex Account?
You can get unlimited transfers with the Canadian Western Bank Apex Account. Just note that any ATM transactions must be done on an EXCHANGE Network ATM. Otherwise, you will be subject to a $1.50 fee.
Does the Canadian Western Bank Apex Account have a welcome bonus?
No, the Canadian Western Bank Apex Account does not have a welcome bonus at this time.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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