Bank Fees in Canada 2025 — Full Breakdown by Bank

Updated March 2026 · Canadian banking fees · 8-minute read

Canadians pay some of the highest bank fees in the developed world. The average Canadian pays over $200/year in bank fees — and that doesn't count NSF charges or ATM fees at other banks' machines. This guide breaks down exactly what every major Canadian bank charges in 2025 so you can find the cheapest option.

Monthly Bank Fees — Canada 2025 Comparison

Bank	Basic Plan	Standard Plan	Premium Plan	Fee Waiver Condition
KOHO $0 WINNER	$0/mo	$9/mo (Premium)	$19/mo (Everything)	Always $0 on base plan
EQ Bank $0 WINNER	$0/mo	$0/mo	N/A	Always $0
Tangerine	$0/mo	$0/mo	N/A	Always $0
TD Bank	$10.95/mo	$16.95/mo	$29.95/mo	Waived at $4,000–$5,000 min balance
RBC	$11.95/mo	$16.95/mo	$30.00/mo	Waived at $4,000 min balance (select plans)
BMO	$10.90/mo	$16.95/mo	$30.00/mo	Waived at $4,000 min balance
CIBC	$6.95/mo	$14.95/mo	$29.95/mo	Waived at $3,000–$6,000 balance
Scotiabank	$11.95/mo	$16.95/mo	$30.95/mo	Waived at $3,000–$5,000 balance
National Bank	$10.95/mo	$15.95/mo	$28.95/mo	Balance waiver varies by plan

ATM Fees — Canada 2025 Comparison

Bank	Own ATM	Other Canadian Bank ATM	International ATM	Notes
KOHO LOW FEES	Free (via Scotiabank ATMs)	$2.00	$0 (Premium plan) / $3.00	Access Scotiabank network free
EQ Bank	Free (via Cirrus/Plus)	Free (rebated)	Free (rebated up to limit)	EQ reimburses ATM fees monthly
Tangerine	Free (Scotiabank ATMs)	$1.50–$2.00	$3.00–$5.00	Scotiabank ATM access included
TD Bank	Free	$2.00	$3.00–$5.00	Green Machine network nationwide
RBC	Free	$2.00	$3.00–$5.00	Largest ATM network in Canada
BMO	Free	$2.00	$3.00–$5.00	Interac e-Transfer included in plans
CIBC	Free	$2.00	$3.00–$5.00	Desjardins ATMs free for some plans
Scotiabank	Free	$2.00	$3.00–$5.00	Tangerine customers use free too

NSF Fees (Non-Sufficient Funds) — Canada 2025

Bank	NSF Fee Per Item	Notes
KOHO NO NSF	$0	KOHO declines transactions instead of charging NSF
EQ Bank	$0	No NSF fees — transactions simply decline
TD Bank	$48.00	Per NSF item returned
RBC	$48.00	Per NSF item returned
BMO	$48.00	Overdraft protection available
CIBC	$45.00	Per item, max varies
Scotiabank	$48.00	Per NSF item
Tangerine	$45.00	Lower than most big banks
National Bank	$45.00	Per NSF item

e-Transfer Fees — Canada 2025

Bank	Send e-Transfer	Receive e-Transfer	Included in Plans
KOHO	Free	Free	Yes, unlimited
EQ Bank	Free	Free	Yes, unlimited
Tangerine	Free	Free	Yes, unlimited
TD Bank	Free (most plans)	Free	Included in Standard+
RBC	Free (most plans)	Free	Included in Standard+
BMO	Free (most plans)	Free	Included in Standard+
CIBC	Free (most plans)	Free	Included in Standard+; $1.50 on basic
Scotiabank	Free (most plans)	Free	Included in Standard+; $1.50 on basic

Zero-Fee Winners: KOHO and EQ Bank

KOHO and EQ Bank charge $0 in monthly fees, $0 NSF fees, and free e-Transfers. EQ Bank even reimburses ATM fees. These two digital banks are the clear winners for Canadians who want to eliminate bank fees entirely.

KOHO extra bonus: Use code 45ET55JSYA at sign-up and get a $100 cash bonus. Plus 5% cashback on groceries and dining (promotional rate). KOHO's spending account pays 3% interest on your balance — more than most big-bank savings accounts.

Frequently Asked Questions — Bank Fees Canada 2025

Which Canadian bank has the lowest fees in 2025?

KOHO and EQ Bank both charge $0 monthly fees, $0 NSF fees, and free e-Transfers. EQ Bank reimburses ATM fees. Tangerine is also free for basic banking. Among traditional banks, CIBC has the lowest entry-level plan at $6.95/month — but digital banks beat them all at $0.

How much do Canadians pay in bank fees per year on average?

The average Canadian pays approximately $185–$220 per year in monthly banking fees alone, before accounting for NSF charges, ATM fees, and overdraft fees. A single NSF event at a big bank ($45–$48) adds significant unexpected costs. By switching to KOHO or EQ Bank, Canadians can eliminate these fees entirely.

Can I get monthly fees waived at the Big 5 banks?

Yes — all Big 5 banks waive monthly fees if you maintain a minimum balance (typically $3,000–$5,000 depending on plan) or meet other criteria like age (students/seniors often get free banking). However, this requires keeping a significant amount of money earning minimal interest. Moving those funds to EQ Bank at 3% is often more financially advantageous.

What is an NSF fee in Canada and how do I avoid it?

NSF (Non-Sufficient Funds) fees are charged when a payment — cheque, pre-authorized debit, or bill payment — fails because you don't have enough money in your account. Big banks charge $45–$48 per NSF event. To avoid NSF fees: use KOHO or EQ Bank (which don't charge NSF fees), set up low-balance alerts, or maintain overdraft protection. Never ignore pre-authorized payments.

Are e-Transfers free at all Canadian banks?

Most Canadians can send and receive e-Transfers for free, but some basic-tier plans at CIBC and Scotiabank charge $1.50 per outgoing e-Transfer. Digital banks (KOHO, EQ Bank, Tangerine) always include unlimited free e-Transfers. Big banks generally include unlimited e-Transfers in their Standard and Premium plans but may charge on the cheapest plans.

What is the KOHO $100 bonus and how do I get it?

KOHO offers a $100 sign-up bonus when you use promo code 45ET55JSYA at registration. After meeting qualifying conditions (typically making a minimum number of purchases), the $100 is credited to your account. KOHO charges $0 monthly fees on its base plan and offers 5% cashback on groceries and dining (promotional rate). You can claim it at bremo.io/go/koho.php?src=seo.