*We accept unexpired passports from the following locations:
- Canada
- Australia
- China
- India
- Mexico
- Philippines
- Singapore
- Taiwan
- United States
Join the 41,000+ Canadians who use our No-Fee Bank Account!
"There are no conditions with this account. I can just bank and know it’s free!"
"There are no conditions with this account. I can just bank and know it’s free!"
"I’ve been using Innovation’s No-Fee Bank Account for years. The app is so convenient and easy to use!"
"I’ve been using Innovation’s No-Fee Bank Account for years. The app is so convenient and easy to use!"
Requirements for No-Fee Bank Account Opening
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.
Questions?
Which banks have no monthly fee chequing accounts in Canada?
While we don’t keep track of every bank’s offerings, you don’t need to look any further than Innovation 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.
Are you a real bank?
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.
Which banks have no monthly fee chequing accounts in Canada?
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.
Which banks have no monthly fee chequing accounts in Canada?
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 more help choosing an account?
Try our 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.
Protecting Your Deposits
In the spirit of truth and reconciliation, we acknowledge that we are on the traditional territories of the many First Nations, Métis, and Inuit who have graced these lands for millennia. We are privileged to live on, work on and enjoy the benefits of these lands, now known as Canada.