STUDENT BANKING

Best Student Accounts

Keep your cash for textbooks (or takeout). Compare $0 monthly fee accounts built specifically for high school and university students.

TD Canada Trust
TD
Canada
Trust
CDIC Insured

TD Every Day Savings Account

Canada-wide CAD Savings Account
0.01%
Interest Rate
$0.00
Monthly Fee
No Monthly Fees Welcome Bonus Offer
Earn a $750 Welcome Bonus
Earn a 4% Bonus Interest Rate for 90 days on balances up to $1,000,000 when bundled with a new Chequing account. Earn a 4.00% bonus interest rate for 90 days when bundled with a new Chequing account.
Welcome Bonus
Earn $750
When you open an account
Get Started

On TD Canada Trust's secure site

Scotiabank
Scotiabank
CDIC Insured

Preferred Package for Students and Youth

Canada-wide CAD Chequing Account
0.00%
Interest Rate
$0.00
Monthly Fee
No Monthly Fees Unlimited Transactions Free Interac e-Transfers Welcome Bonus Offer
Earn a $175 Welcome Bonus
Kickstart your finances with a $175 welcome bonus.
Special Offer
Earn an additional 0.05% interest on your MomentumPLUS Savings Account. No monthly account fee on a Scotia U.S. Dollar Daily Interest Account.
Welcome Bonus
Earn $175
When you open an account
Get Started

On Scotiabank's secure site

CIBC
CIBC
CDIC Insured

CIBC Smart™ Start

Canada-wide CAD Chequing Account
0.00%
Interest Rate
$0.00
Monthly Fee
CDIC Insured Unlimited Transactions Free Interac e-Transfers Online and Mobile Banking
Earn a $125 Welcome Bonus
Get $125 cash when you open your first chequing account and make 5 Visa Debit purchases online within 2 months.
Special Offer
Includes 12 months of Skip+ for free, a free SPC+ membership, and $50 for every friend you refer.
Welcome Bonus
Earn $125
When you open an account
Get Started

On CIBC's secure site

CIBC
CIBC
CDIC Insured

CIBC Smart™ for Students

Canada-wide CAD Chequing Account
0.00%
Interest Rate
$0.00
Monthly Fee
CDIC Insured Unlimited Transactions Free Interac e-Transfers Online and Mobile Banking
Earn a $125 Welcome Bonus
Get $125 cash when you open your first chequing account and make 5 Visa Debit purchases online within 2 months.
Special Offer
Includes 12 months of Skip+ for free, a free SPC+ membership, and $50 for every friend you refer.
Welcome Bonus
Earn $125
When you open an account
Get Started

On CIBC's secure site

CIBC
CIBC
CDIC Insured

CIBC Smart™ Account for Apprentices

Canada-wide CAD Chequing Account
0.00%
Interest Rate
$0.00
Monthly Fee
CDIC Insured Unlimited Transactions Free Interac e-Transfers Online and Mobile Banking
Special Offer
Get a free SPC+ membership and save up to 10¢/L on gas with Journie Rewards.
Get Started

On CIBC's secure site

BMO Bank of Montreal
BMO
Bank
of
Montreal
CDIC Insured

BMO Performance Chequing Account

Canada-wide CAD Chequing Account
0.00%
Interest Rate
$17.95
Monthly Fee
CDIC Insured Unlimited Transactions Access to No-Fee ATM Network International Money Transfers Online and Mobile Banking
Earn a $800 Welcome Bonus
Earn up to $800 cash + Walmart Delivery Pass! 1) Get $500: Open by June 1, 2026, and complete 2 of 3 tasks by July 31 (Direct Deposit of $500+, two $50+ bill payments, or two $50+ PADs). 2) Get $100: Maintain the $500+ direct deposit for 12 months. 3) Get $150: Open a Savings Amplifier, deposit $10k within 30 days, and maintain for 90 days. 4) Get $50: Create a Goal & Strategy in My Financial Progress.
Special Offer
Special Pricing: Students & Youth pay $0/mo. Newcomers pay $0/mo for 2 years. Seniors pay $13.95/mo. Indigenous customers pay $0/mo for 1 year. Canadian Defence Community members pay $0/mo. Newcomers get a small safety deposit box free for 12 months.
Welcome Bonus
Earn $800
When you open an account
Get Started

On BMO Bank of Montreal's secure site

BMO Bank of Montreal
BMO
Bank
of
Montreal
CDIC Insured

BMO Premium Chequing Account

Canada-wide CAD Chequing Account
0.00%
Interest Rate
$30.95
Monthly Fee
CDIC Insured Unlimited Transactions Access to No-Fee ATM Network International Money Transfers Online and Mobile Banking
Earn a $800 Welcome Bonus
Earn up to $800 cash + Walmart Delivery Pass! 1) Get $500: Open by June 1, 2026, and complete 2 of 3 tasks by July 31 (Direct Deposit of $500+, two $50+ bill payments, or two $50+ PADs). 2) Get $100: Maintain the $500+ direct deposit for 12 months. 3) Get $150: Open a Savings Amplifier, deposit $10k within 30 days, and maintain for 90 days. 4) Get $50: Create a Goal & Strategy in My Financial Progress.
Special Offer
Special Pricing: Students & Youth pay $13.00/mo. Seniors pay $26.95/mo. Newcomers get no-fee BMO Global Money Transfers. Canadian Defence Community members pay $13.00/mo.
Welcome Bonus
Earn $800
When you open an account
Get Started

On BMO Bank of Montreal's secure site

Servus Credit Union
Servus
Credit
Union
CDIC Insured

Servus 17-25 Be Free

Regional CAD Chequing Account
0.00%
Interest Rate
$0.00
Monthly Fee
CDIC Insured
Get Started

On Servus Credit Union's secure site

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Student Banking Guide Easy, friendly, no hype

Pick a student account that saves you fees and makes life simpler

Student accounts are designed for everyday banking while you’re in school. They often focus on low fees, enough transactions, and simple digital tools. This guide shows what to compare on this page and what to double-check before you apply.

5-minute checklist

The best student account is usually the one that matches how you pay for things each month. Use this checklist, then filter and sort your results.

Monthly fee
Look for $0 student fees and understand when fees can start later.
Transactions
Unlimited debits/e-Transfers is helpful if you split bills or pay rent by transfer.
ATM access
Check your bank’s ATM network and out-of-network fees if you withdraw cash.
App + alerts
Budgeting tools, instant notifications, and low-balance alerts can prevent fees.
Overdraft & NSF
Know the costs. Student banking is easier when you avoid “surprise” charges.
Eligibility
Confirm how they verify student status and how long student pricing lasts.
Shortcut: If you mainly pay by debit + e-Transfer, prioritize $0 fee + enough transactions. If you withdraw cash often, prioritize your ATM network.

How to compare student accounts here

Filter by provider type and features, then sort by Lowest Monthly Fee. If you care about earning interest on your everyday balance, compare Highest Interest, and confirm any conditions required to earn it.

Step 1
Filter fees
Step 2
Pick features
Step 3
Sort shortlist
Step 4
Verify eligibility
Always confirm current eligibility rules and fee schedules on the provider’s page before applying.

Student banking: the real-life use cases

Choose features that match your routine
Rent + utilities
If you pay rent by e-Transfer or automatic withdrawal, prioritize easy transfers and strong alerts.
Splitting bills
If you split groceries or group costs, enough e-Transfers (or included transfers) is a big quality-of-life feature.
Everyday spending
Debit tap and digital wallet support matter more than fancy features when you’re paying daily.
Cash withdrawals
If you withdraw cash, compare ATM networks and out-of-network fees so you don’t pay extra.
Friendly reminder: Your goal is a “boring” account that quietly avoids fees. Start with $0 fee, then check transfers and alerts.

Avoid the most common “surprise fees”

Even a “free” student account can have charges for certain situations. These are the usual ones to understand before you pick:

NSF fees
A charge when a payment is returned unpaid due to insufficient funds.
Overdraft costs
If overdraft is enabled, transactions may go through below $0 with interest and/or fees.
Out-of-network ATM fees
You may pay a fee to the ATM owner and sometimes a fee from your bank too.
Optional service fees
Paper statements or certain teller services can cost extra depending on the provider.
Practical tip: Turn on low-balance alerts and keep a small buffer to reduce NSF/overdraft risk.

Student banking best practices (simple habits)

These are small habits that make student banking easier — and can reduce fees.

Use alerts
Set notifications for low balance and large transactions.
Know your bill dates
Track rent, phone, subscriptions, and tuition payments so you keep enough in your account.
Keep “spending” and “buffer” separate
Even a simple savings account can help you avoid accidentally spending bill money.
Secure your account
Use strong passwords and multi-factor authentication when available.
Eligibility rules and student benefits can change — confirm details before opening an account.

Student banking FAQ

Short answers, real-world focus

Many student accounts offer $0 monthly fees, but conditions can apply (like student status verification or time limits). Always confirm when and how fees could start.

For most students, avoiding fees is the bigger win because everyday balances are often modest. If you keep a larger balance, comparing interest can help — but check any conditions needed to earn it.

Some do, some have limits, and some charge per transfer depending on the account. If you use e-Transfers often, verify whether they’re included and if there are monthly caps.

It depends on the provider. Some accounts convert to a regular account after a period of time or after you’re no longer a student. Confirm what the post-student pricing and features will be.

Turn on low-balance alerts, track bill due dates, keep a small buffer, and understand whether overdraft is enabled. If you don’t want transactions to go through below $0, confirm your overdraft settings.
Use filters to find $0 fee accounts first, then compare transfers and ATM access.

Mini glossary (fast definitions)

NSF Non-sufficient funds — a payment returned unpaid due to low balance.
Overdraft A feature that may allow spending below $0 (fees/interest may apply).
e-Transfer A common way to send money in Canada; fees/limits depend on the account.
ATM network The group of ATMs you can use without extra “out-of-network” fees.
Eligibility Rules to qualify for student pricing (status verification may be required).
Alerts Notifications for balance/transactions to help you avoid surprise fees.