Your options for student bank accounts

Written by Bailey Ramsay

Arriving at university is the start of much adulting one of the BMO

Monthly fee: $0

Monthly debit transactions: 12 on Practical plan, 30 on Plus plan

  • ●      Has Free Checkings and savings account
  • ●      Free SPC card
  • ●      Assisted service bill payment

 

TD

●      Chequing account

  • ○      No monthly fee
  • ○      free deposit
  • ○      No minimum monthly balance
  • ○      25 free transactions per month
  • ○      free paperless record keeping or online statements

●      Savings account

  • ○      No monthly fee
  • ○      Unlimited free transfers
  • ○      Interest paid on every dollar
  • ○      1 free debit transaction per month
  • ○      free paperless record keeping or online statements

●      Credit cards

  • ○      Classic travel visa
  • ○      Green visa
  • ○      Emerald visa

 

RBC

Monthly fee: $0

Monthly debit transactions: 25 free

  • ●      Unlimited interac e-transfers
  • ●      Credit Card —no annual fee RBC Rewards Visa Gold or RBC Cash Back Mastercard
  • ●      $39 rebate toward the annual  fee of signature, RBC Rewards, or Visa

 

Vancity

●      No student account

 

CIBC

Monthly fees: $0

Monthly debit transactions: unlimited

●      Debit purchases across Canada

 

Scotiabank

Monthly fee: $0

Monthly debit transactions: unlimited

●      SCENE rewards

 

Tangerine

●      online

●      No fees

●      No service charges

●      No minimum balance

●      Automatic savings program

 

HSBC

●      High rate savings account

            Monthly fee: $0

●      No minimum balance

 

General Notes

●      Most accounts don’t charge monthly fees


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With files from YuHan Z ___.

 

 

 

 

Bailey Ramsay author

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