The best chequing account with free cheques in Canada is the Simplii No Fee Chequing Account, which is also a completely free account. If you prefer bells and whistles, the Scotiabank Ultimate Package has free cheques while also being the best chequing account in Canada.
Deciding which features matter most in a chequing account is a personal decision. For many, free cheques are an important and useful perk. While most people don’t use cheques often anymore, they’re still helpful for certain transactions, such as paying rent or settling bills where electronic payments might not be an option.
Let’s take a look at the best bank accounts with free cheques in Canada.
Key Takeaways
- Premium chequing accounts often come with free personalized cheques.
- Cheque books can cost anywhere from $50 to $70, depending on the bank and type and amount of cheques you order.
- Cheques can be used for gifts, emergencies, rent, and contractors.
Best chequing accounts with free cheques
There are many popular chequing accounts that come with free cheques. Here are a few to consider:
| Chequing account | Monthly fee | Cheque details |
|---|---|---|
| Simplii No Fee Chequing Account | $0.00 | Free standard cheques |
| Scotiabank Ultimate Package | $30.95 | 1 book of 100 personalized cheques per year |
| Tangerine Chequing Account | $0.00 | First chequebook with 50 cheques is free |
| TD All-Inclusive Banking Plan | $30.95 | Includes any style of cheques for free, including premium |
| BMO Premium Chequing Account | $30.95 | Free cheques |
| RBC VIP Banking | $30.00 | Free cheques |
| CIBC Smart Plus Account | $29.95 | Free personalized cheques |
How much do cheques cost?
Paying for cheques out of pocket can be quite costly. Here's a breakdown of what you might expect:
- The cost for a standard order of cheques varies based on style and amount. It’s usually somewhere between $50 and $70, depending on the bank and the style of cheques chosen.
- A standard order typically includes 50 to 100 cheques.
- There may be extra charges for customization, such as adding designs or typeface on your cheques.
While cheques may not be needed very often, they can get quite expensive when they’re not included as a free perk that comes with your chequing account. This makes accounts with free cheques an appealing option for saving on these costs.
What are cheques used for?
Despite the increased popularity of digital payments like Interac e-Transfers and EFTs, cheques are still helpful in a variety of situations. Here are common uses where cheques come in handy:
- Rent payments: Many landlords prefer or require rent to be paid by cheque for recordkeeping. Some request post-dated cheques for the full year upon signing a lease.
- Condo fees: Cheques allow you to prepay for services like condo or strata fees months in advance by post-dating the cheques to be cashed when the time is right.
- Paying contractors: For home renovations or services, contractors often accept cheques, especially for larger sums.
- Gifts: A cheque can be a practical gift, particularly for weddings or graduations, allowing the giver to safely send a financial gift in the mail so the recipient can deposit the money easily and conveniently.
- Government or institutional payments: Some government services, taxes, or fees may still require or prefer payment by cheque.
- Unexpected blackouts: There are situations when digital financial services are unavailable, and in these cases, it’s handy to have an extra cheque in your wallet just in case.
Does your bank account offer free cheques?
How often do you use cheques? What do you usually use them for? Do you keep a spare cheque in your wallet for emergencies?
Does your bank account offer free cheques?
We're curious to hear about your experiences! Share your thoughts in the comments below.
FAQ
What is the best bank account with free cheques?
While each of the accounts we reviewed have different fees and perks, the Simplii No Fee Chequing Account is available for no monthly fee and includes standard cheques for free. Other accounts with free cheques usually charge a fee.
Is there a senior account with free cheques?
The CIBC Smart Plus Account offers free personalized cheques, plus a discounted monthly fee for seniors over the age of 65. The account fee is completely waived if you maintain a minimum balance of $6,000.
Are cheques free at TD with an account?
While many TD accounts don’t have free cheques, the TD All-Inclusive Banking Plan offers account holders free personalized cheques of any style, including their premium options.
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