Pay $0 in bank fees with our No-Fee Bank Account
Bank with no fees. Apply today!
No-Fee Bank Account Information


Bank with no fees. Apply today!


Still have questions? Let's try to answer them! Expand/Collapse

“I already have a bank account. Why would I need another one?”
Yes, you may already have a bank account elsewhere, but you might be paying as much as $300/year in fees. We’d love to help you save that money and also to maybe help you put it to better use elsewhere.

A second bank account can also be a handy tool to organize and save your money. We’ll help you avoid annoying transaction limits, or Interac e-transfer fees as this account has no limits.You can use your Innovation account as little or as much as you please, without penalty.

“My current bank account is free but has some conditions. What conditions does your No-Fee Bank Account have?”
Our No-Fee Bank Account has zero conditions - including a no minimum balance requirement. There are simply no fees. Even your Interac e-Transfers are free and unlimited!

“I’ve never heard of Innovation. Are you a real bank?”
We are real but we are a credit union – which is just like a bank only you have more of a say in how we’re run. Over 35,000 Canadians have an Innovation No-Fee Bank Account with us already. And we have been around for over 60 years. Many happy members think of us as a best kept banking secret.

“What is a credit union?”
Credit unions are nonprofit organizations with a mandate to serve their members meaning Innovation Credit Union is a financial institution, just like a bank - except that our customers (members) own us. Members join by paying a one-time membership fee of $5.

Our primary goal is to provide better products and services to our members, not seek a profit. And since credit unions are not-for-profit, any money we earn is invested back into the organization, issued as dividends to our members or donated back into the community.

“Where are your branches (and ATMs) located?”
Our branches – or advice centres as we like to call them - are located primarily in the western half of Saskatchewan. We now serve the rest of the province digitally – including almost 3,000 members in Regina and Saskatoon – as well as members elsewhere in Canada! As for ATMs, Innovation members have access to an entire Canada-wide network of surcharge-free ATMs. Just look for the ‘ding free!’ decal or download the ATM locator app.

“What if I might to need to meet face-to-face with someone in Regina or Saskatoon?"
We have mobile advisors in Regina and Saskatoon that can assist and advise you at two Innovation office locations or at a destination of their choice. We’re flexible!

“Isn’t switching banks difficult?”
No pressure to switch – we just would like you to give us a try and start saving on bank account fees! If you do like what you see from us and would like to switch more of your banking items to us, ClickSWITCH is our web-based application that makes it easy to quickly and securely switch online bill payments, automated payments and direct deposits from your existing financial institution to your new account at Innovation. Or you can call us at 1.866.446.7001 and we can assist you as well. Your choice!

"Why do you need to know my Social Insurance Number when I apply?"
It simply helps us to confirm your identity. And if you open a Savings Account at the same time as you open your No-Fee Bank Account, it's then a requirement of The Income Tax Act for tax reporting purposes on the interest you earn.

Learn more

No-Fee Bank Account available for personal use only. To learn more, see our Account Information and Disclosure of Standard Fees and Charges PDF Document.

* ATM transactions for the No-Fee Bank Account are free at ding free ATM locations.

Need help choosing an account?

See the FCAC Account Selector.

Apply Now

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