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.
Wave Accounting is a Toronto-founded accounting software company offering free core accounting features for small businesses. Invoicing, expense tracking, bank connections, and financial reporting are all included at no cost. Wave monetizes through payment processing and paid payroll. For Canadian freelancers and very small businesses, it's hard to argue with free — but there are important limitations to understand.
KOHO combines a no-fee bank account with built-in spending tracking and budgeting. Use code BREMO2026 for a sign-up bonus.
Get KOHO Free — Use Code BREMO2026| Feature | Cost |
|---|---|
| Accounting (invoicing, expenses, reports) | Free |
| Bank connections | Free |
| Invoicing | Free |
| Payment processing (credit card) | 2.9% + $0.60 per transaction |
| Payment processing (bank transfer/ACH) | 1% per transaction |
| Payroll (Canada) | ~$20/mo + $6/employee |
| Wave Advisor (bookkeeping support) | $149+/mo |
| Feature | Wave | QuickBooks Online Simple Start |
|---|---|---|
| Price | Free | ~$20/mo |
| Invoicing | Good | Good |
| GST/HST tracking | Good | Excellent |
| Bank connections | Good | Excellent |
| Inventory | No | No (need Plus) |
| Integrations | Limited | 700+ |
| Support | Email (free tier) | Phone + chat |
Wave Accounting is genuinely excellent for what it is: a free accounting platform for small Canadian businesses and freelancers. For businesses with straightforward needs — invoicing clients, tracking expenses, filing GST/HST — Wave covers all the bases at zero cost. As your business grows and requires inventory, payroll, or advanced integrations, the upgrade path to QuickBooks or FreshBooks is a natural progression. Start with Wave; upgrade when you outgrow it.