No fee everyday banking
Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.
Ranked and compared: the top RESP accounts in Canada by fees, investment options, ease of use, and CESG processing speed.
| Provider | Type | Annual Fee | Best For | Rating |
|---|---|---|---|---|
| Wealthsimple | Managed/Self-directed | 0–0.50% | Beginners, hands-off | ★★★★★ |
| Questrade | Self-directed | $0 ETF buys | DIY investors | ★★★★★ |
| TD Bank | Managed/Self-directed | 0–2.5% MER | TD customers, branch access | ★★★★☆ |
| RBC | Managed/Self-directed | 0–2.5% MER | RBC customers | ★★★★☆ |
| Scotia iTRADE | Self-directed | $4.99/trade | Scotia customers | ★★★☆☆ |
Wealthsimple offers both a managed RESP (classic or socially responsible portfolios, 0.40–0.50% annual fee) and a self-directed option with commission-free ETF trading. The managed option automatically adjusts asset allocation as your child ages — perfect for parents who want a set-it-and-forget-it approach.
Questrade is Canada's leading discount brokerage with free ETF purchases (you only pay to sell). For investors comfortable choosing their own ETFs, Questrade's RESP delivers the lowest possible ongoing costs — hold XEQT or VEQT and your MER is just 0.20%.
TD Direct Investing gives access to TD e-Series index funds (~0.35% MER) — a hidden gem for low-cost RESP investing with the comfort of a major Canadian bank. In-branch support is a plus for those who prefer face-to-face advice.
RBC Direct Investing offers a full self-directed RESP plus the InvestEase robo-advisor option at 0.50% annually. Convenient for existing RBC customers wanting everything under one roof.
| Provider | Recommended Investment | MER |
|---|---|---|
| Wealthsimple (managed) | Classic Growth Portfolio | ~0.50% |
| Questrade | XEQT or VEQT | 0.20% |
| TD Direct Investing | TD e-Series blend | ~0.35% |
| RBC Direct Investing | XEQT or iShares Core ETFs | 0.20% |
Group/pooled scholarship plan dealers have historically charged high fees and used misleading sales tactics. Heritage Education Funds and similar group plan dealers have faced regulatory action in Canada. The rule: if someone approaches you unsolicited about an RESP, proceed with extreme caution. Legitimate providers don't use high-pressure sales tactics.
Learn more: Group RESP vs Self-Directed — Full Comparison
KOHO's free savings account helps parents set aside RESP contributions every month. Earn cash back on everyday spending and redirect savings to your child's RESP.
Get KOHO Free — Code BREMO2026Related: Wealthsimple RESP · Questrade RESP · TD RESP · RBC RESP · TFSA · RRSP · FHSA
RESP, FHSA, TFSA, RRSP. The order to open them, how to invest them, and the grants and fees that matter. Free PDF.
Ready to invest? Open a no-fee account first. Get $20 from KOHO with code BREMO2026 →