For Children Age 6 - 12
Identification Requirements
- Government issued photo ID or birth certificate of the child and
- Government issued photo ID of the child’s parent or guardian
For Children Age 12 - 15
Identification Requirements
- Government issued photo ID or birth certificate of the child and
- Government issued photo ID of the child’s parent or guardian
For Youth Age 15 - 18
Identification Requirements
- Government issued photo ID of the youth
Note: Children must be age 6 or older to open a No-Fee Chequing Account and earn youth dividends. For children age 5 and younger, consider opening an in-trust account!
No appointment needed!
Stop by one of our locations or give us a call at 1.866.446.7001. We'd love to help your child grow their savings today!
No-Fee Chequing Account Features
$0 Monthly Fees
Our No-Fee Chequing Account is truly free. No strings attached.
Free Transactions
Even Interac e-Transfer® services are free and unlimited.
Free Debit Mastercard®
Shop online or in-store. Access thousands of ding-free ATMS.*
No Balance Requirements
Banking is free whether your balance is $5 or $5,000.
No-Fee Chequing Account Perks for Parents
When your child has a free bank account, as a parent, you can:
- Send their allowance by Interac e-transfer® or, if you're also an Innovation member, by member-to-member transfer.
- Set transaction limits and alerts on their account, including their Debit Mastercard® .
- Watch them experience financial independence when they make purchases through mobile pay.
- Help them learn to budget and save with our budget tool.
More Financial Products for Youth
Debit Mastercard
- Your child can access a ding free ATM network across Canada.
- They can make free and unlimited debit card transactions.
- They can make online purchases anywhere Debit Mastercard is accepted.
Savings Account
- Your child can earn interest on their money.
- They can earn even more cash dividends since our Savings Account qualifies for additional Member Rewards!
RESP
- Gain access to government matching grants.
- When your child is ready to make a withdrawal, they'll be taxed at a lower rate (or not at all!)
- Pay no taxes on the interest you earn.
Easily open your No-Fee Youth Account today!
Stop by or call us to easily get started on helping your child learn and earn.
* Terms & Conditions
No-Fee Chequing 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 Chequing 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.
®Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Debit Mastercard® Terms & Conditions (pdf)
FAT CAT® Retro Wallet Offer
Limited offer starting June 8, 2026; while supplies last.