Free Canadian banking worksheet

Should you switch bank accounts?

Compare likely savings with the time and costs of moving. Your entries stay in this browser and are not submitted to Bremo.

Estimate the first-year value

Enter your estimates, then calculate.

This is a planning estimate, not a quote. Exclude promotional bonuses unless you have confirmed that you qualify and can satisfy every condition.

Download several months of statements and list every deposit, bill payment, transfer and subscription.
Confirm the new account’s regular fees, transaction limits, deposit insurance coverage and minimum-balance rules directly with the institution.
Open and test the new account before redirecting payroll or government deposits.
Move automatic payments in small batches and keep enough money in both accounts during the transition.
Wait for at least one full billing cycle, resolve outstanding cheques and fees, then request written confirmation when closing the old account.

Avoid preventable costs: check overdraft terms, e-transfer limits, ATM access and any effect on bundled products before switching.

Use Bremo’s full calculator to compare first-year and three-year savings with a tailored break-even estimate.

A positive first-year value means estimated recurring savings exceed the switching cost during year one.
A long break-even period increases the chance that fee changes or changed banking needs will alter the decision.
Price is only one factor; service access, reliability, accessibility and account protections also matter.

Educational information only. Bremo is not a bank and this page is not individualized financial advice or an endorsement of a provider.