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Low-cost account

From Wikipedia, the free encyclopedia

A low-cost account is a Canada bank account that costs $4 or less per month. In February 2001, an agreement was reached with the Canadian federal government,[1] which involved eight of Canada's major banks offering low-cost accounts to consumers, ensuring that every person has affordable banking. The accounts have benefits that include free deposits, a free debit card, cheques, free monthly statements, and up to 15 transactions per month.[2]


  1. ^ "Low-Cost Accounts". FCAC. 6 January 2009. Retrieved 13 March 2010.
  2. ^ "Tips About Low-Cost Bank Accounts". FCAC. 11 December 2008. Retrieved 13 March 2010.