Pay $0 bank fees! Save ~$11 every month in bank fees with Innovation’s No-Fee Bank Account. Even Interac e-Transfer® services are free and unlimited.

  • finger-snap
  • Open your account online in minutes!
    In-person/over-the-phone: 30 minutes

Apply to win a $2,500 winter getaway!*

Open a No-Fee Bank Account between January 1st and March 31st, and you could win a $2,500 winter getaway!*

Already a member? Refer a friend to be entered to win.

Discover the benefits!

  • Pay no monthly maintenance fees
  • Enjoy free and unlimited Interac e-Transfers® in online banking
  • Discover no minimum balance requirements
  • Make unlimited transactions - there's no transaction fees
  • Access free ATMs* across Canada

Join the 41,000+ Canadians who use our No-Fee Bank Account!

Requirements for No-Fee Bank Account Opening

18+ years of age

Canadian resident

(not including Quebec)

Social Insurance Number

NOTE: These requirements are for online account opening only. If you're under 18 or not a Canadian resident, give us a call and we can help you over the phone.

Your SIN is also only a condition if you're opening an account online. If you prefer not to  provide your SIN, give us a call to apply over the phone at 1.866.446.7001.

Enjoy free banking. Pay no monthly fees!

Make your personal finances that much easier. You’ve found a partner with no monthly fee chequing accounts in Canada.

Save ~$11/month in banking fees with your No-Fee Bank Account. Rest assured; there are no hidden charges.

It's truly a chequing account with no monthly fee.

Pay $0 for Interac e-Transfer®

Easily transfer funds to friends and family through Interac e-Transfer®. Transactions are free and unlimited. Start no fee banking!

Discover no minimum balance requirements

No matter what your balance, your account is free. There are no hidden rules or fees. It’s truly a no fee chequing account.

Make free, unlimited transactions

Get free, unlimited daily transactions, POS transactions (debit card purchases), deposits, and ATM withdrawals*. Avoid the monthly and per-transaction fees that are so common with other accounts.

Access your money anytime, anywhere with our app and online banking.

Access free ATMs* across Canada

Innovation members have access to a Canadian network of surcharge-free ATMs. Just look for the ding free!’ decal or download the ATM locator app. Make your ATM withdrawals with confidence — and without fees.


Our No-Fee Bank Account has no monthly fees and no minimum balance requirements. Save ~$11/month in fees!


Earn cash dividends simply by doing your everyday banking with us. The more you bank with us, the more you benefit.


Your business helps us support your community. We allocate 2% to 4% of pre-tax profits/year to our communities.


While we don’t keep track of every bank’s offerings, you don’t need to look any further than Innovation Federal Credit Union for a No-Fee Bank Account. We truly offer no-fee chequing for all of Canada.

Feel free to use the information we’ve shared in a no-fee chequing account comparison. We’re confident you’ll see how many benefits come along with joining us.

We are real, but we are a credit union. It’s just like a bank, only you have more say in how we're run.

Thousands of Canadians have an Innovation No-Fee Bank Account with us. We have been around for over 60 years. Many happy members think of us as a best kept banking secret.

Credit unions are not-for-profits financial institutions created to serve members. We’re just like a bank except our customers (members) own us. Members join by paying a one-time membership fee of $5.

Our main goal is to provide better products and services to our members, not seek a profit as so many traditional banks do. Any money we earn is invested back into the organization, issued as cash dividends to our members, or donated back into the community.

There’s no pressure to move everything. Try us out and if you like how much you save you can gradually switch more items over.

Give us a call at 1.866.446.7001 and we can help you switch payments and direct deposits quickly and safely from your current bank.

Get the best no-fee chequing account in Canada!

Keep more of your money! Start saving ~$11/month in bank fees today. How will you spend your savings?

Need more help choosing an account?

Try our Account Selector Tool.

To compare bank accounts, you can view the FCAC Account Selector Tool.

No-Fee Bank Account available for personal use only. SIN is not required as a condition of opening an account. If you prefer not to provide your SIN for our online application, please visit one of our branch locations to apply or call 1.866.446.7001 for more information.

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

Innovation Federal Credit Union banking services are not available in Quebec.

Learn more about our accounts and services. Review our Account and Fee Information (pdf).

Identify the interest rates applicable to your account(s) and how they're calculated. Review our About Our Interest Calculations (pdf) document.