Find your footing.
Make your next move.
New country. New semester. Or a fresh look at your everyday account. Start with what matters to you, then work through the details.
Let’s work it out.The monthly fee is just the start.
Here, fictional Plan A has a higher regular package fee. Plan B costs more over the year once the entered transaction and ATM charges are included.
Change the figures in the fee worksheetWhat’s in this example?
12 months, 35 transactions and two outside-network ATM withdrawals per month. Plan A: $16.95 monthly, first three months at $0, unlimited included transactions, $2 per ATM withdrawal. Plan B: $4 monthly, 18 included transactions, $1.25 per extra transaction and $2 per ATM withdrawal. Other fees: $0. These are illustrative inputs, not product offers.
See the 12 monthly rows
| Month | A fees | B fees | A cumulative | B cumulative |
|---|---|---|---|---|
| 1 | $4.00 | $29.25 | $4.00 | $29.25 |
| 2 | $4.00 | $29.25 | $8.00 | $58.50 |
| 3 | $4.00 | $29.25 | $12.00 | $87.75 |
| 4 | $20.95 | $29.25 | $32.95 | $117.00 |
| 5 | $20.95 | $29.25 | $53.90 | $146.25 |
| 6 | $20.95 | $29.25 | $74.85 | $175.50 |
| 7 | $20.95 | $29.25 | $95.80 | $204.75 |
| 8 | $20.95 | $29.25 | $116.75 | $234.00 |
| 9 | $20.95 | $29.25 | $137.70 | $263.25 |
| 10 | $20.95 | $29.25 | $158.65 | $292.50 |
| 11 | $20.95 | $29.25 | $179.60 | $321.75 |
| 12 | $20.95 | $29.25 | $200.55 | $351.00 |
Your situation. Your starting point.
New to Canada
Get your first account, paperwork and everyday banking questions in order.
Explore this stepStarting student life
Look beyond a student label to eligibility, access and the fees after graduation.
Explore this stepLearning the basics
A clearer view of accounts, credit history and the language in a fee schedule.
Explore this stepKnow your rights
Start with official consumer guidance and ask the provider about your situation.
Explore this stepWork through the everyday costs.
Compare account fees
Introductory periods, transaction limits and ATM fees. Put two entered plans side by side.
Work it throughWeigh a balance waiver
Consider the fees you might avoid alongside hypothetical interest on money held elsewhere.
Work it throughPlan a bank switch
Include setup costs, overlapping accounts and timing before you make a move.
Work it throughA directory is a place to start.
Explore the existing institution and product information, make a shortlist, then check the provider’s current terms. A listing is not a ranking, an eligibility decision or a deposit-insurance guarantee.
Keep learning. Keep your own pace.
Your first Canadian account
Prepare the documents, access questions and next steps for opening an account.
Explore this stepBanking as a student
Understand student eligibility and keep an eye on what changes later.
Explore this stepUnderstand everyday fees
Read the package, transaction and ATM charges before a headline fee decides for you.
Explore this stepBuild your credit understanding
Learn the terms and habits behind a Canadian credit history.
Explore this stepGood questions start with reliable information.
BankingCanada.ca is an independent educational resource, part of MITEY. We are not a bank or a government service. The worksheets use your assumptions; a provider’s current agreement determines its fees and eligibility.
A few things to know.
Is this an official government site?
No. BankingCanada.ca is an independent MITEY educational website. Use the linked official resources and check account details directly with the provider.
Does the directory tell me which bank is best?
No. A listing is a starting point for your own checks. Your access needs, eligibility, transaction habits and current account terms matter more than a universal score.
Do the worksheets send my figures anywhere?
Editing or calculating does not create an enquiry or send your worksheet entries to a bank. Saving on this browser and downloading a file are your choices.
How do I know a fee is current?
Check the provider’s dated fee schedule, exclusions and eligibility. A page loading today does not mean every stored product detail was verified today.
Something needs a closer look?
Send a question or correction to hello@mitey.ca. Keep account numbers, passwords, SINs and other sensitive details out of your message.