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

6/12/2025|Updated: 6/12/2025

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.