If your goal is to use a bank account for daily transactions, a chequing account is the better choice.
Most chequing accounts come with a wide array of features designed to help you manage your money daily. For example, you can set up your chequing account for direct deposit of your paycheque and set up automatic withdrawals for your monthly payments, such as your mortgage, car loan or utilities.
Here are some common features that come with chequing accounts:
- Debit cards
- Paper cheques
- Direct deposit
- Interac e-Transfers
- Online bill payment
- Mobile cheque deposit
- Overdraft protection (but you may have to request this and pay extra for the feature)
- Balance and transaction alerts to help protect against fraud
How Do I Find the Best Chequing Account?
The best chequing account for you is the one that aligns with your personal preferences and financial goals. But there are a few…
