From Vancouver to Kelowna — the top 8 banks and credit unions for BC residents. Compare no-fee accounts, savings rates, and BC credit unions.
Ranked for British Columbia residents by fees, rates, and local options.
KOHO is the best bank for most BC residents. Zero fees, 3% interest on your balance, cashback on every purchase, and a free credit builder. BC residents save $300–500/year versus the Big 5. Get $100 with code 45ET55JSYA.
EQ Bank earns 3.75% on savings with no minimums or fees. Great for BC residents parking funds from home sales, RSP top-ups, or rainy day savings. CDIC insured.
Vancity is Canada's largest community credit union, based in Vancouver. Strong on sustainability, Indigenous banking, and community programs. Deposits insured by CUDIC BC. Competitive mortgage rates and local focus.
Coast Capital is BC's largest federally regulated credit union, serving Greater Vancouver and Fraser Valley. CDIC insured. No-fee chequing available, competitive GIC rates.
Free chequing with CIBC ATM access. With CIBC ATMs widely distributed across Vancouver, Surrey, Burnaby, and Victoria, Simplii offers solid free ATM coverage for BC residents.
Tangerine offers promo savings rates of 5–6% for new customers. Free chequing and Scotia ATM access. Good for BC residents wanting promo rates or the 2% cashback credit card.
Wealthsimple Cash earns 3% and integrates with commission-free trading. Great for Vancouver investors who want both banking and stock investing in one BC-connected platform.
TD has 200+ locations in BC. Their mobile app is Canada's highest-rated Big 5 app. Good for BC residents who need mortgage, RRSP, and investment services in a branch setting.
BC credit unions are regulated by the BC Financial Services Authority (BCFSA). Deposits are insured by the Credit Union Deposit Insurance Corporation of BC (CUDIC BC) with unlimited coverage on eligible deposits. Coast Capital is a federal credit union insured by CDIC. BC has 12% HST (PST+GST) but financial services are generally exempt from PST.
BC's top-rated digital bank. Available province-wide — from Vancouver to Prince George. Zero fees, 3% interest, cashback on every purchase.
Claim $100 Bonus →| Bank | Monthly Fee | Interest | ATM | DICO/CDIC | Best For |
|---|---|---|---|---|---|
| KOHO | $0 | 3.0% | ATM network | CDIC | Overall |
| EQ Bank | $0 | 3.75% | EQ Card | CDIC | Savings |
| Vancity CU | $5–14 | 1.5–2% | 59 BC branches | CUDIC BC | BC community |
| Coast Capital | $0–10 | 1–2% | Lower Mainland | CDIC (federal) | Lower Mainland |
| Simplii | $0 | 0.40% | CIBC BC-wide | CDIC | Free chequing |
| Tangerine | $0 | 0.80% | Scotia ATMs | CDIC | Promo savings |
| Wealthsimple | $0 | 3.0% | Limited | CDIC | Investing |
| TD | $3.95–$29.95 | 0.01% | 200+ BC branches | CDIC | Branch banking |
Result: $0/month + 3–3.75% on deposits + cashback on spending + credit building
For digital banking in Vancouver, KOHO (3% interest, cashback, free) is the top pick. EQ Bank is best for savings rates. For branch banking in Vancouver, Vancity Credit Union and TD have the strongest local presence. Coast Capital covers the Lower Mainland with free chequing.
Vancity is Canada's largest community credit union, headquartered in Vancouver. It's regulated by BCFSA and deposits are insured by CUDIC BC with unlimited coverage. It's one of the most trusted financial institutions in BC.
Yes. KOHO is available across all of Canada including British Columbia. Open an account online in under 3 minutes. The KOHO Mastercard is accepted everywhere in BC and across Canada.
Digital banks (KOHO, EQ Bank) cover Victoria province-wide. For branches in Victoria, TD, RBC, and Scotiabank all have strong downtown Victoria presence. Island Savings Credit Union also serves Greater Victoria with local BC credit union banking.