No Fee eChequing Account

See how much you can save with our no fee eChequing Account. Re-invest your savings in our high interest e-savings account; no minimum balance required and high interest rate on every dollar.

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  • No monthly fee; No minimum balance required
  • Free, unlimited day-to-day transactions1
  • Free, unlimited Interac® e-Transfers
  • Access to over 3,300 ATMs in THE EXCHANGE® Network - Canada's 2nd largest ATM network, surcharge-free!
  • Add Overdraft Protection for only $2.50 a month
  • Safe and secure – eligible deposits are insured up to the maximum amount through the Canada Deposit Insurance Corporation (CDIC)2
  • 0.05%* Annual Interest Rate


We make banking easy, accessible, and secure - wherever you are. 


Bank 24 hours a day, 7 days a week. Pay your bills online and skip that trip to a mailbox or bank branch.


Get the full experience of online banking plus more. Whether you're checking your balances or depositing your cheques easily with Deposit Anywhere™, do it all within your fingertips. 


Add Overdraft Protection3 to your eChequing account and enjoy the peace of mind knowing you'll have access to extra funds when you most need them.

With credit limits ranging from $500 to $5,000, you can customize your overdraft protection to best need your needs.

  • Low monthly fee of $2.50
  • 19.99% Annual Interest Rate
  • Access your overdraft limit through all channels linked to your eChequing account (bill payments, cheques, point of sale, pre-authorized debits, etc.)
  • Repayment is as easy as making a deposit to your account
Application is subject to credit approval.

eChequing Accounts and rates are only available for purchase online.

*Interest rate is annualized and subject to change without notice. Interest is calculated daily on the closing balance and paid monthly. $1,000,000 maximum balance (plus accrued interest).

1Includes: Withdrawals, Transfers, Interac® e-Transfers, Me-to-Me Transfers, Bill Payments, Cheques, Pre-authorized payments, Debit card payments (POS), Alterna and THE EXCHANGE Network ATM withdrawals and transfers.

2Only eligible deposits held in Canadian currency, having a term of five years or less and payable in Canada are insurable under the Canada Deposit Insurance Corporation Act.

3Overdraft fees are in addition to interest charges on the outstanding overdraft amount. Interest will be calculated and debited monthly to your account based on the final daily indebtedness in the account throughout the calendar month. Interest rates set by Alterna Bank will apply both before and after the Overdraft Protection service is terminated, and before and after judgment is obtained against you.

Maximum balance per customer is $250,000 (plus accrued interest).

Click here for our FAQs on Account Limits.