Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
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The best bank accounts for students in Canada 2020 Apr 10th
Table of contents
The best bank accounts for students in Canada
The best online bank accounts for students in Canada
What is a student bank account?
What do you need to open a student bank account?
How to choose the best student bank account for you
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Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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What to look for in a kids’ bank account
– moneysense.ca
When your child is ready to graduate from piggy bank to real bank, you’ll want to look for an account that doesn’t eat into those initial deposits of loonies, toonies and birthday money with a bunch of bewildering fees. There are many options for your young saver that allow them to watch their money grow, without charging an arm and a leg for each withdrawal, deposit and e-transfer.
“Many of the banks in this country have accounts for your kid’s first savings account—and they’ll have great features such as no monthly fees, and unlimited free transactions,” says Melissa Leong, author of the award-winning finance guide Happy Go Money and a mother of two. This is important because you don’t want your child’s first money lessons to include a lecture about minimizing unnecessary charges, Leong says.
Although our children will definitely bank digitally and go cashless more than previous generations, she believes there is still great value in taking your kids into an actual bank…
“Many of the banks in this country have accounts for your kid’s first savings account—and they’ll have great features such as no monthly fees, and unlimited free transactions,” says Melissa Leong, author of the award-winning finance guide Happy Go Money and a mother of two. This is important because you don’t want your child’s first money lessons to include a lecture about minimizing unnecessary charges, Leong says.
Although our children will definitely bank digitally and go cashless more than previous generations, she believes there is still great value in taking your kids into an actual bank…
