Types of Accounts
Canadian banks offer several types of accounts; the most common options for newcomers include:
- Chequing Accounts: For everyday transactions, bill payments, and debit card purchases. Some accounts have monthly fees, so it’s important to compare options.
- Savings Accounts: Ideal for setting aside funds, though they may offer limited transactions per month. Interest rates vary, and some accounts may have monthly fees if minimum balances are not maintained.
