Shop Around for the right bank that fits your needs. Many banks will offer no fee banking options for students or with a minimum account balance. Although we all know, the more money you have, the more negotiation abilities you have with your bank.
Canadian Western Bank offers a no fee chequing account when you maintain a minimum $5000 balance. They also offer a no fee student account as well as a child account over $2000.
CIBC offers a no fee chequing account on the CIBC Everyday Solutions account if you maintain a $1000 balance although the transactions are limited.
HSBC offers a no fee chequing account when you maintain a minimum $4000
POINTS, POINTS, POINTS – Collecting points is one of my favourite hobbies. If it fits with my shopping experience, I want to receive my points! If you are a low maintenance banker and don’t mind doing your banking online and over the phone I highly recommend the no fee banking offered at PCFinancial
It does not appear that the Royal Bank offers a no fee chequing account
It does not appear that Scotiabank offers a no fee chequing account
TDCanada Trust offers a no fee chequing account when you maintain a minimum $3500 balance.
Start early contributing to your child’s RESPs. Take advantage of the Federal Government’s CESG (Canada Education Savings Grant) where they will contribute 20% of your contribution up to a total of $500.00. Also investigate if you qualify for any Provincial Government (Alberta & Quebec) contributions as well.