What is a basic personal account?
A basic personal account is a simple bank account that offers the following basic (basic) services:
- Access to a debit card, with which you can pay in stores, pay for services, and withdraw funds from the account through an ATM
- Placement and withdrawal of funds from the deposit
- Internet banking. Thanks to modern internet banking, and mobile banking, bank account holders can access them online. Moreover, a large number of transactions can be done online
- Monthly fees. Research and analysis show that banks set relatively low commissions for basic account maintenance. In addition, with a minimum balance, fees may be waived
Which Canadian bank is the best for personal banking?
First of all, it's necessary to determine the client's needs. For what purpose do you plan to open an account? If you are interested in the advantages of VIP service, consider the offers of banks with VIP accounts. If you need joint accounts, consider the banks' offers for married couples, accounts with elderly parents, etc. Please note that banks have developed separate products for opening accounts for children, students, pensioners, non-residents, and newcomers.
In addition, we can single out several top Canadian banks that have some advantages for opening a current account:
- TD Canada Trust: the bank offers a wide range of products, and customers can choose the best current account depending on the type
- RBC Royal Bank: the bank is known for its highly developed digital banking
- Scotiabank: it is best for those who plan to open an account for international transactions
- BMO Bank of Montreal: the bank pleasantly impresses with its commissions for opening and maintaining a current account, allowing it to actively use online tools.
- CIBC: if you need to have access and make various transactions through mobile banking, pay attention to the offers of this bank