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Canada’s Major Banks to Offer $4 Chequing Accounts by Dec. 1

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Canada’s Major Banks to Offer $4 Chequing Accounts by Dec. 1

A Canadian dollar coin is pictured in this illustration picture taken in Toronto January 23, 2015. Reuters/Mark Blinch/File Photo

Jennifer Cowan

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The six largest banks in Canada have enrolled in a federal program to provide basic accounts at a cost of $4 per month to customers beginning Dec. 1.

The goal of the program is to improve the affordability and accessibility of routine banking services, especially as more Canadians bank online, the Financial Consumer Agency of Canada said.

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