Most big banks in Canada charge for standard non-business bank accounts.
This one is TD but the others all charge the same. Why compete when you can collude?
TD Unlimited Chequing Account
Unlimited transactions for your peace of mind
Annual fee rebate for the first year on select TD credit cards (up to $139)
No TD ATM fee at any ATM in Canada
Free Interac e-Transfer® transactions
Monthly account fee of $16.95 or $0 if you maintain a daily balance of $4,000 or more
Also, $16.95/month is $203.40/year, which divided by $4,000 is 5.09%. If you can earn more than 5.09% then you are better off paying the fee and investing your $4,000 elsewhere.
It is also pretty much impossible to keep precisely $4,000 in your account because of the lumpiness of day-to-day inflows (paycheques) and outflows (bills). If you keep say $10,000 in your chequing account to (a) avoid the $16.95/fee, and (b) provide a buffer against unexpected expenses, then the breakeven return on your money is $203.40 / $10,000 = a paltry 2.03%.
This one is TD but the others all charge the same. Why compete when you can collude?
https://www.td.com/ca/en/personal-banking/products/bank-acco...