No-Fee Chequing Account

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.

No-Fee Chequing Account

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Apply to win a "Hello, Spring" $2,500 Giveaway!*

Open a No-Fee Bank Account between April 1st and June 30th, and you could win a $2,500 spring giveaway!*

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

Discover the benefits!


$0 Monthly maintenance fees.

Save at least $11/month in banking fees with a No-Fee Bank Account. It’s a true no fee chequing account that saves you money.


$0 INTERAC e-Transfer®

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


Free ATMs* across Canada.

Access thousands of surcharge-free ATMs across Canada. Just look for the ‘ding free’ decal or download the ATM locator app.


Free, Unlimited Transactions

Get free, unlimited transactions including Interac e-Transfer®, POS (debit card purchases), deposits, and ATM withdrawals*

Requirements for a No-Fee Chequing Account

Canadian Resident
(not including Quebec)

18 Years of Age or Older

Social Insurance Number

Don’t meet our requirements? Give us a call!

These requirements are for online account opening only. If:

  • you're under 18,
  • not a Canadian resident, or
  • prefer not to provide your SIN,

give us a call at 1.866.446.7001 and we can help you over the phone.

Join the 43,000+ Canadians who use our No-Fee Bank Account!



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.


Need help?

Our specialists are happy to answer any questions you have and get you started today!

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.