Online Chequing Accounts – What You Need to Know
Benefits of online chequing accounts
In Canada, most banks offer online chequing accounts for a minimal fee or no fee at all. They also do not incur high interest rates. Many people use online chequing accounts to set up automatic payments for routine monthly bills and expenses. In addition, customers can use debit cards and write cheques, just like with traditional chequing accounts.
How to open a chequing account online
- Start by conducting a research to find what banking institutions in Canada offer services that suit you best. Some banking institutions charge a monthly fee for their chequing accounts while others are free.
- The next step would be for you to sign up for an online account.
- To sign up for and online account, you need to complete an application form. Have your Social Insurance Number and an email account ready.
- Set up a login username and a password
- When applying for a chequing account online, be very careful. Ensure that you have read the terms and conditions to avoid any hidden fees.