Financial Product Reviews
The Laurentian Bank Preferred Account offers an average banking solution for a monthly fee of $7.50. The monthly fee includes 20 transactions that cover a wide range of financial activities, making it advantageous for users with moderate banking needs.
- Free for students
- Discounted rate for seniors
- Access to thousands of ATMs in Canada
- Limited transactions
- Fees for additional transactions and e-Transfers
- Minimum balance to avoid (some) fees
- Residents of Canada
- Age of majority
The CIBC Everyday Chequing Account is a basic, no-frills account offering easy access to your funds at a low monthly fee–just $4.00 a month. This account also features easy access to a large and convenient ATM network, along with a wide array of services available at CIBC branches across the country – all perks of working with one of Canada's largest banks.
- Canadian resident
- Age of majority in your province
The TD Every Day Chequing Account offers unlimited free Interac e-Transfers, making it simple to send money anytime without worrying about extra charges. TD Bank also adds a little extra flavour by offering bonus Starbucks Rewards, a nice perk for coffee lovers who want to earn more with their day-to-day banking. For a monthly fee of just $11.95, which includes 25 transactions a month plus a seniors discount, this a good choice for your average banking needs.
- Resident of Canada
- Age of majority
- Get 50% more Stars at Starbucks.
- Unlimited free Interac e-Transfers
- Discount for seniors
Bank accounts for kids tend to be pretty bare bones, and pale in comparison with its "adult" counterparts. However, the National Bank Youth Bank Account doesn’t take that approach. It offers free unlimited transactions to youths under the age of 25 with no monthly fee, free access to over 3,000 ABMs, and much more.
- Can be opened by youths as young as 14, and as old as 24
- Next to no fees
- Users can deposit cheques from their phones
- Access to balance and transactions in real-time via National Bank App
- Limitless debit and Interac e-Transfer transactions
- Users can only have this account until they turn 25
- Doesn’t offer many other perks
- Not as many locations as the Big 5
- It doesn’t earn any interest
- Canadian resident
- Under 25 years old
The Laurentian Bank 65+ Plan is a very simple and straightforward chequing account designed for seniors who don't do much spending or who prefer to use cash to complete their transactions. While clearly a niche product for those over the age of 65+ living in Quebec, this account from one of the country's oldest banking institutions still has excellent value for its target clients.
- No monthly fee
- No minimum balance requirement
- Access to an extensive ATM system
- Limited features overall
- Only 4 free transactions included
- Few branches outside of Quebec
- Be at least 65 years old
The TD Student Chequing Account provides a budget-friendly banking solution for young people and full-time students. It comes with unlimited transactions, no monthly fees, and even a modest interest rate. New signups can get a welcome bonus of up to $125, along with discounts on trades through TD Direct Investing.
- No monthly fee for this account
- Unlimited transactions and e-Transfers
- Free overdraft protection
- Earn 0.01% interest on account balance
- Earn 50% more Stars at Starbucks
- Extra ATM fees
- Welcome bonus requires a few extra steps
- Lacking extra perks like CIBC or Scotiabank’s student accounts
- Be the age of majority in your province or territory
- Must be under the age of 23 or a full-time student
- Earn 50% more Starbucks stars
- Free overdraft protection
- Discounted trades with TD Direct Investing
The Laurentian Bank Youth Plan is a chequing account created for children and teens under the age of 18. With no monthly fee, unlimited debit transactions, and access to a widespread network of ATMs, young Laurentian clients may find significant value in this account.
- No monthly fee
- Unlimited debit transactions
- Free access to an extensive ATM network
- Strange minimum balance requirement
- No free Interac e-Transfers
- Can't apply online
- The future of the account is uncertain
- Be under 18 years old
- Be a citizen or resident of Canada
- Have a valid government-issued ID
The TD Minimum Chequing Account is very well suited for people with minimal banking needs. Notably, seniors over 60 years old who are collecting the Guaranteed Income Supplement (GIS) and Registered Disability Savings Plan (RDSP) beneficiaries can use this account without paying the $3.95 monthly fee.
- Free for seniors collecting GIS
- Free for RDSP beneficiaries
- Low monthly fee
- Earn extra Starbucks rewards
- Limited amount of transactions
- Additional transaction and ATM fees
- No free e-Transfers
- Age of majority
- 50% more Stars at participating Starbucks stores
- Free for RDSP beneficiaries and seniors receiving GIS
The Laurentian Bank Unlimited Account is a reliable and cost-effective chequing account available for all Canadians. With unlimited transactions, a reasonable fee, and plenty of ATMs available, this product can provide the convenience you're looking for in a chequing account.
- Unlimited transactions
- Reasonable monthly fee
- Lower fees for seniors and students
- Extensive ATM network
- Complicated minimum balance requirement
- Limited branch access
- Few freebies or perks
- Be a Canadian citizen, permanent resident, or landed immigrant
- Be at least 18 years old
- Access to the extensive THE EXCHANGE Network of ATMs
- Reduced monthly fees for students and seniors
The CIBC Smart Start Account is a chequing account tailored for Canadians under the age of 25, and its convenient features make it very attractive, especially to students. And since CIBC is one of Canada's big 5 banks, the young account holders can rest assured of their bank's security and reliability.
- No monthly fees until age 25
- Unlimited transactions
- Free SPC+ membership
- CIBC Investor's Edge trading perks
- Save up to 10 cents per litre on gas
- Welcome and referral bonuses
- Converts to the CIBC Smart Account at age 25
- Unaffiliated ATM fees are rather high
- Under 25 years of age or a parent of a youth under age 13
- Free SPC+ membership
- Earn up to $500 each year with referrals
- Save on gas with Journie Rewards










