Newcomer Bank Fee Calculator
See what a newcomer chequing account can cost after its introductory fee waiver ends. Compare the same time horizon across major banks.
Choose your assumptions
This calculator models monthly account fees only. It does not include welcome bonuses, ATM fees, overdraft, paper statements, credit-card rebates or the opportunity cost of keeping money in an account to waive a fee.
| Bank / account | Intro fee waiver | Standard monthly fee | Simple balance waiver | 3-year modeled fees |
|---|---|---|---|---|
| CIBC CIBC Smart Account | 24 months | $16.95 | $4,000 | — |
| BMO BMO Performance Chequing | 24 months | $17.95 | $4,000 | — |
| RBC RBC Advantage Banking | 12 months | $12.95 | Not modeled | — |
| Scotiabank Preferred Package | 12 months | $16.95 | $4,000 | — |
| No-fee benchmark Digital no-fee chequing | No monthly-fee benchmark | $0 | Not modeled | — |
What the comparison shows
A long newcomer fee waiver can be valuable, but only if the account still fits once the promotion ends. On a three- or five-year horizon, the standard fee and your ability to qualify for a rebate can matter more than the first-year welcome offer.
For readers who use branches frequently, a major bank can still be worth the fee. If you are comfortable with digital banking, compare the recurring fee against no-fee alternatives before the newcomer period expires.