These are transparent scenarios using entered figures. No product feed determines the worksheet inputs or a recommended institution.
Account costs
For each month, the package fee is the entered introductory monthly fee while the month number is within the introductory period. Afterward it is the regular fee. Extra transaction cost equals the positive difference between used and included transactions, multiplied by the extra-transaction fee. An unlimited allowance makes that difference zero. Add the entered ATM count times the entered total fee per withdrawal, then other monthly charges. Cumulative totals add the monthly costs. A negative A minus B difference means B costs more.
Balance waivers
The model holds the entered balance in a non-interest-bearing waiver account for twelve months. Qualified months avoid the entered package fee; unqualified months avoid zero. In the alternative scenario, monthly interest equals the opening alternative balance multiplied by the nominal annual percentage divided by 1,200. Each month’s interest is rounded to cents and added to the balance. Net waiver benefit equals total fees avoided minus cumulative hypothetical interest. The alternative rate is fixed and pre-tax; real rates, eligibility and accessibility of funds may differ.
Switching costs
The current account is charged before the switch. The new account is charged from the switch month onward. The old account is also charged during the entered overlap period, beginning in the switch month. Setup and closing costs occur once, in the switch month. An optional assumed bonus is credited only in its selected month. The bonus starts excluded. Catch-up is the first month on or after switching where cumulative savings stay non-negative for every remaining month in the horizon; this is not a claim beyond that horizon.
Rounding and validation
Money accepts non-negative decimal amounts with up to two decimal places. Calculations use integer cents. Hypothetical monthly interest rounds half a cent upward using integer arithmetic. Rates accept up to four decimal places. Invalid, missing or out-of-range values show an error and retain the last worked result. Editing never silently changes an exported plan: recalculate first.
What these tools leave out
Provider-specific daily-balance rules, different categories of included transactions, overdraft and NSF events, changing rates, tax treatment, foreign-exchange spreads, bonus clawbacks, deposit insurance eligibility and the practical suitability of an account need separate review. Add relevant recurring costs to the inputs where appropriate. These tools do not establish eligibility, safety or approval.
Your data and choices
Worksheet entries stay in page memory until you explicitly save a plan on this browser or download it. The tools do not create an enquiry or send these figures to a bank. A saved plan is not a cloud backup. They do not access bank accounts or execute a bank switch.
Start with the provider’s actual fee schedule.
The Financial Consumer Agency of Canada explains transaction allowances, extra charges and minimum-balance fee waivers. Use it to prepare questions; verify the actual account agreement for your situation.
FCAC: Chequing accountsPrimary guidance reviewed October 29, 2026. The worksheet method and fictional examples are independently authored.