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Student Bank Accounts in Canada, by Bank, Including International Students

Updated

The banks in the table below price a chequing package for post-secondary students at no monthly fee or a reduced one, on conditions each bank sets, such as full-time study, an age or proof of enrolment, and each bank also decides when the student price ends. The table gives the student price with its condition in the bank’s words, the package’s regular monthly fee and the source, and the big banks’ accounts link to their lineup pages. Sign-up offers for students, with the banks’ offers pages, are on bank account promotions.

Student bank accounts by bank

TD’s Student Chequing Account and Scotiabank’s Preferred Package for Students and Youth are accounts of their own, sold to students and young clients; the other rows are the bank’s everyday package with its fee waived or reduced for students.

AccountPrice for students, and who qualifiesMonthly fee (the package's regular price and its own waivers)Source
BMO
Performance Plan		Full-time students at a post-secondary university, college or registered private vocational school: $0.00 a month on the Performance Plan, registered at a BMO branch with proof of registration. BMO may ask for proof of expected program completion (up to a maximum of four years) or annual proof; eligibility ends in November of the scheduled graduation year, and the full monthly Plan fee applies from December if proof is not given by November 30. Recent graduates keep $0.00 until the end of November 30 after the year they graduate, with proof of graduation by November 30 of the graduation year$17.95 a month, or $0 with a minimum daily balance of $4,000; Seniors' discount brings it to $13.95BMO's page
Fees as of June 2, 2026
BMO
Premium Plan		Full-time students at a post-secondary university, college or registered private vocational school: $13.00 a month on the Premium Plan (the Performance Plan fee discount applied to the Premium Plan fee), registered at a BMO branch with proof of registration; the same end-of-program and proof rules as the Performance Plan apply$30.95 a month, or $0 with a minimum daily balance of $6,000; Seniors' discount brings it to $26.95BMO's page
Fees as of June 2, 2026
CIBC
CIBC Smart Account Tier 1 (average monthly balance of deposits and investments less than $40,000)		CIBC Smart for Students: students enrolled in a full-time post-secondary program at a college, university or CEGEP and graduating at age 25 or older get the $16.95 monthly fee rebate for unlimited transactions, including Interac e-Transfer, and a rebate of the fee for 1 non-CIBC ATM withdrawal in Canada each month. You must tell CIBC your graduation date and CIBC may ask for proof of enrollment. Benefits remain in effect until the graduation date plus an additional 6 months, up to a maximum of 4.5 years in total; if you are still enrolled in an eligible program you can renew with proof of enrollment, and regular Smart Account fees apply when the benefits expire$16.95 a month for up to 3 CIBC Smart Accounts (each Smart Account after that is $16.95), or $0 with a minimum end-of-day balance of $4,000 each day of the month in any one Smart Account; $0 for clients 65 and older (CIBC Smart for Seniors)CIBC's page
Fees as of March 12, 2026
Desjardins
Desjardins Unlimited transaction plan		Youth offer for full-time students aged 25 to 30 at a recognized vocational, CEGEP, college or university institution in Canada: the free Unlimited plan, with full-time student status confirmed by phone each year (proof of enrolment may be requested). The free period ends on the last business day of the month of your 31st birthday$15.95 a monthDesjardins's page
National Bank
The Minimalist		$0 a month (no flat monthly fee) for people aged 24 and under, students included; supporting documentation is required$3.95 a month; $0 for ages 24 and under (students included), seniors 65 and over who receive the Guaranteed Income Supplement, RDSP beneficiaries 18 and over, and Indigenous peoples, with proof of eligibilityNational Bank's page
National Bank
The Connected		Students between 14 and 24 years old: no fixed monthly fee on The Connected. Post-secondary students in the student offer visit a branch once a year to update the file, showing two pieces of ID, proof of full-time student status and the most recent transcript$15.95 a month; $0 for ages 0-24; $10.95 for ages 60 and olderNational Bank's page
RBC
RBC Advantage Banking		Fee waived for full-time students. RBC counts a full-time student as someone in a post-secondary program at a college, university or other educational institution (in Canada or not) taking at least 60% of the usual course load in a semester. RBC may ask for proof of enrolment, the student must tell RBC about changes to student status or graduation date, and on the graduation date given RBC begins charging the monthly fee. Full-time students aged 13 or older (14 or older in Quebec) can open the account$12.95 a month, or $0 for clients 24 and under or full-time students, $0 for newcomers to Canada for the first 12 months, or $0 with the Value ProgramRBC's page
Fees as of August 3, 2026
Scotiabank
Preferred Package for Students and Youth		No monthly account fee for students enrolled full time in a post-secondary program at a qualifying school in Canada or the U.S. (domestic or international). Students 25 or older give proof of enrolment showing their full name, school name and the date and duration of the program (for example a student card with an expiry date, a course timetable for the current academic year, a letter from the school, a receipt for paid tuition for the current term or an acceptance letter). Student status ends December 1 of the graduation year; if you are 25 or older and no longer enrolled, the account is converted to a regular Preferred Package$0 a month; clients 25 or older must be a domestic or international student currently enrolled in a full time post-secondary program in Canada or the U.S.Scotiabank's page
Fees as of September 2026
TD
TD Student Chequing Account		No monthly fee until age 23; after 23, no monthly fee while you are a full-time post-secondary student at an accredited university or college in Canada with proof of enrollment. Proof of enrollment is a document issued by the school with the student name, the school, the program and the year of study (for example a tuition invoice or statement of account, a detailed timetable, a letter from the Registrar’s office or a transcript). After you graduate the account is converted to a regular TD Chequing Account$0 a month (until age 23 or with proof of enrollment in full-time post-secondary education)TD's page
Fees as of March 5, 2026

Checked against each bank's pages on October 20, 2026.

Institutions in this table: BMO, CIBC, Desjardins, National Bank, RBC, Scotiabank and TD.

These tables cover the banks listed in them; credit unions are compared with banks on credit unions vs banks. Chequing accounts with no monthly fee, online banks’ included, are compared on no-fee chequing accounts.

What happens to a student account after graduation?

Each bank ends its student price at a point it sets: a graduation date the student gives, a date in the graduation year, a set time after graduating, or a birthday. Some banks also ask for proof of enrolment each year to keep the price. Where a row’s terms say what follows, the account then pays the package’s full monthly fee or becomes a regular package; for the rows that are everyday packages the Monthly fee column shows that fee, and for TD’s and Scotiabank’s own student accounts the regular account’s fee is on the bank’s lineup page. Moving to another account or bank is covered on switching banks.

Can you open a student account online, and what do you need?

FCAC says you can open a bank account in person, by electronic means or by telephone, and the bank must be able to confirm your identity through proper identification; the ID a bank can ask for is on opening a bank account. Where a bank names the proof of student status it accepts, such as a timetable, a tuition receipt, a letter from the school or a student card, its price cell lists it.

Banking for international students

The banks in the table below each state an offer for international students, built on a student account, a newcomer offer or a deposit program, and, where the bank names them, the documents it asks for, such as a study permit, a passport or proof of enrolment, in its own words.

BankWhat the bank offers international studentsSource
BMOFull-time students at a post-secondary university, college or registered private vocational school: no monthly Plan fee for the length of the program. In a branch, bring your study permit, one piece of government photo ID such as a passport, proof of registration and expected graduation date; recent graduates get an additional year of no monthly fee banking after confirming graduation at a branch. Through the NewStart Program an international student can also open a bank account and a student GIC before arriving in Canada in one online application, from a qualifying countryBMO's international students page
CIBCInternational students qualify for CIBC Smart Start (under age 25) or CIBC Smart for Students by showing proof of international student status. For the Smart Account newcomer benefits an eligible international student must be arriving in Canada in the next 12 months from an eligible country, have reached the age of majority in the arrival province or territory, and hold a valid passport and a UCI. Before arrival, CIBC Smart Arrival is open to international students with a Canadian study permit, who give a Letter of IntroductionCIBC's international students page
National BankStudents coming to Canada to study: a bank account with no fixed monthly fees for up to 3 years under the newcomer offer (temporary residents, including students, are newcomers). Students enrolled in a post-secondary program in Canada can also use The Connected, which has no fixed monthly fee between ages 14 and 24National Bank's international students page
RBCRBC Advantage Banking for students: no monthly fee for full-time students. International students can open an account online before arriving (valid passport plus a student permit or other listed IRCC document, and a letter of acceptance or confirmation of enrolment from a Canadian educational institution that states the expected enrolment date and is not from a past academic year) and can apply for an RBC credit card with a credit limit up to $2,000 and no credit history requiredRBC's international students page
ScotiabankThe Preferred Package for Students and Youth has no monthly account fee and can be opened by any student enrolled full time in a post-secondary institution in Canada or the U.S., online or in person by booking an appointment with an advisor. To open: valid government-issued ID (a driver’s licence or other valid government ID card), immigration documents (IMM 1000, IMM 1442, IMM 5688 or IMM 5292) and proof of student status (student card with expiry date, current course timetable, a letter from the school, a receipt for paid tuition for the current term or an acceptance letter) showing full name, school name and the date and duration of the program. Before arrival an international student can open a student GIC online (Scotiabank Student GIC Program) or apply for a Scotiabank International Account and transfer up to $50,000 CADScotiabank's international students page
Simplii FinancialSimplii International Student Deposit Program: apply online before you arrive in Canada (about 5 minutes) and transfer between $2,500 and $50,000 CA to the new account; daily banking with no service fees and no transaction or other banking service fees; the debit card is mailed to your Canadian address on your tentative arrival date and activated after you receive it. Citizens of the listed countries (China, India, Japan, Pakistan, Philippines, Senegal, United States of America, Vietnam and others) can apply. The program is not offered to students attending schools in Quebec. International students can apply for a Cash Back Visa with a $2,000 credit limit and no credit history requiredSimplii Financial's international students page
TDTD International Student Banking Package: age of majority in your province or territory at account opening, an unexpired Study Permit, and full-time post-secondary enrolment at an accredited university or college in Canada with proof of enrollment. Documents: the Study Permit plus one of a valid passport, a Canadian driver’s licence or a Government of Canada identification card (students in Quebec also give a Quebec Acceptance Certificate). The TD Student Chequing Account has no monthly fee until age 23 or longer with proof of enrollment; after graduation it is converted to a regular TD Chequing AccountTD's international students page

Checked against each bank's pages on October 20, 2026.

Institutions in this table: BMO, CIBC, National Bank, RBC, Scotiabank, Simplii Financial and TD.

FCAC says you may be able to open a bank account in Canada with the proper identification even if you are not a Canadian citizen or live in another country, and you may need to go to the bank in person to open a bank account; what opening a bank account takes in general is on that page. Some banks in the table describe a way to open before arriving; the banks’ routes for newcomers are compared on newcomer bank accounts. Money sent from home is covered on receiving money from abroad. Some banks in the table offer international students a credit card with no Canadian credit history required, as their cells say, and cards for students are compared on student credit cards. Getting a Social Insurance Number is on how long it takes to get a SIN.

Do students get a no-fee account under FCAC’s commitment?

Students are one of the groups FCAC lists for an account with no monthly fee.

Under the Financial Consumer Agency of Canada's Commitment on Low-Cost and No-Cost Accounts (effective December 1, 2025), the banks that signed it offer every Canadian a chequing account costing no more than $4.00 a month, and a $0 account to seniors receiving the Guaranteed Income Supplement, RDSP beneficiaries, youth, students and newcomers in their first year, plus at least one more group each bank chooses. Both include at least 18 debit transactions a month and no minimum balance. It is a public commitment that FCAC monitors, not a regulation.

Which account each signatory bank offers under the commitment, and the commitment in full, are on the no-fee accounts page.

Sources

The figures and rules on this page come from these sources, last checked against them between September 14, 2026 and October 20, 2026. How we check facts.