Best Coast Capital Chequing Accounts - Comparewise

Best Coast Capital Chequing Accounts

Coast Capital Chequing Accounts is a popular option for many Canadians, with many features and benefits.

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Last Updated: May 23, 2024

Compare 4 Best Coast Capital Chequing Accounts

4 Results

#1 Choice
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Coast Capital Free Chequing, Free Debit, and More Account

$0
Monthly Fees
Unlimited
Transactions
  • No monthly fee
  • Unlimited day-to-day transactions
  • Free withdrawals and deposits
Pros & Cons
Extra Details
Popular
Get Started

Coast Chequing Classic Package

$11
Monthly Fees
40
Transactions
  • $10 off annual safety deposit box
  • Free eStatements or paper statements
  • Receiving e-Transfers is free
Pros & Cons
Extra Details
Best Value
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Coast Chequing Prestige Account

$21
Monthly Fees
Unlimited
Transactions
  • Unlimited day-to-day transactions
  • 8 free non-Coast Capital ATM withdrawals
  • Receiving e-Transfers is free
Pros & Cons
Extra Details
Get Started

Coast Capital US Chequing

$0
Monthly Fees
Unlimited
Transactions
  • No monthly fee
  • Unlimited deposits
  • Free eStatements
Pros & Cons
Extra Details

Best Coast Capital Chequing Accounts

A chequing account is a financial account that allows customers to deposit and withdraw money on demand. It’s a must-have for keeping track of money, making bill payments, and shopping.

Limited Time Offer: From March 13-June 30, 2024: Get a $150 cash bonus when you become a member and open a Free Chequing, Free Debit and More Account®. *Conditions apply. See full terms and conditions at coastcapitalsavings.com/switch

Coast Capital Chequing Accounts is a financial account offered by Coast Capital Savings Credit Union, a financial cooperative based in British Columbia, Canada.

These accounts come with various features, including unlimited transactions, online and mobile banking, and access to thousands of ATMs across Canada. They have low fees and interest rates that are fair.

This article will explore the various features, costs, pros, and cons of Coast Capital Chequing Accounts. We will also cover the eligibility requirements for opening an account, the application process, and other chequing accounts available from Coast Capital Savings.

Additionally, we will provide insights on depositing and withdrawing money from these accounts, helping readers make informed decisions when managing their finances.

Coast Capital chequing account features

If you’re looking for a convenient and secure checking account, consider a Coast Capital Chequing Account. Coast Capital Checking Accounts include the following, among other benefits:

Unlimited Transactions

You should consider a Coast Capital chequing account because it comes with unlimited monthly transactions. Your withdrawals from ABMs, bill payments, Interac Direct Payments, pre-authorized payments, and transfers between Coast Capital accounts are unlimited.

No Monthly Fees

There are no maintenance charges attached to Coast Capital Chequing Accounts. This account is free to open and maintain, and there is no minimum balance requirement. Cash withdrawals from any Coast Capital or THE EXCHANGE Network ABM are free of charge.

Welcome Bonus

Coast Capital Chequing Accounts come with a welcome bonus that is hard to resist. When you sign on as a new customer, you can receive up to a $150 bonus. Furthermore, you won’t have to pay any monthly fees; this offer is valid until June 30, 2024.

There is no Coast Capital welcome bonus at the moment.

Free ATM Withdrawals

You won’t pay to withdraw money at Coast Capital or The Exchange Network ABMS, making it easy to access your money when needed. However, other ABMs may come with fees.

Coast Mobile® Banking App

With the Coast Mobile® Banking App, you can complete all your banking transactions using your mobile device. You can deposit checks, pay bills, and move money around in your accounts using your mobile device.

4000+ Ding-Free® ATMs

All members of Coast Capital have free access to any ATM or bank machine on The EXCHANGE Network located anywhere in Canada. With over 4000 ATMs, you can easily access your money whenever needed.

No Minimum Balance Required

You won’t need to keep a minimum balance in your account to keep it active, making it easier to manage your finances.

Social and Environmental Responsibility

Coast Capital is a B Corp-certified company committed to social and environmental responsibility. By choosing Coast Capital, you can bank with a company that cares about positively impacting the world.

Deposit On-The-GO

You can use your mobile device to deposit a check by just taking a picture of the front and back. This saves you the time and effort of going to the bank.

best coast capital chequing accounts - comparewise

Costs associated with Coast Capital chequing accounts

Coast Capital Chequing Accounts come with many benefits, including no monthly fees. However, some costs are associated with certain services, such as Interac e-Transfers, international debit payments, and bank drafts.

  1. Interac e-Transfers: If you want to send an Interac e-Transfer, it will cost you $1.50 per send. But e-Transfers are free and you can get as many as you want.
  2. Non-EXCHANGE ATM fees: If you withdraw cash from a non-Coast Capital or non-EXCHANGE ATM, you’ll be charged $2.50 per transaction within Canada and $5 per transaction in other countries. Additionally, there is a 2% administration fee added to these transactions.
  3. Overdraft Protection: If your account balance falls into a deficit, you can opt for overdraft protection by paying $5 monthly plus 21% interest on the negative balance.
  4. International POS Payments: All foreign POS payments will have a 2% administration fee.
  5. Bank drafts: If you need a bank draft, it will cost you between $7.50 and $10 per draft.
  6. Wire Transfers: If you want to send a wire transfer, the cost will depend on the transfer type, ranging from $10 to $50.
  7. Paper statements: If you prefer receiving paper statements, it will cost you $3 per month.

Pros and cons of Coast Capital chequing accounts

Coast Capital Checking Accounts have several advantages, but they also have some disadvantages. When choosing between checking accounts, keep these things in mind:

 Pros of Coast Capital chequing accounts Cons of Coast Capital chequing accounts
This account does not impose any regular fees.Account funds don’t make interest.  
Invest without restriction and cost.Interac e-Transfer fee costs $1.50.
No minimum balance is required.Non-eligible ATM withdrawals cost $2.50 in Canada and $5 abroad.
Make mobile check deposits with this convenient tool.If you go negative, you’ll pay $5 monthly + 21% in coast capital chequing account interest rate on negative balances.
Withdraw cash from any of Canada’s 4,000+ ATMs completely free of charge.This account does not offer free bank drafts or credit card refunds.

Coast Capital chequing account eligibility requirements

The following are the qualifications for opening a Coast Capital Free Chequing, Free Debit, and More Account:

  • Must be a Canadian citizen or permanent resident and a minimum age of 18 (or 19 in some areas).
  • Create an individual account under your name.
  • Have the necessary documents and information on hand, including your name, residential status, and contact information, as well as your optional Social Insurance Number (SIN) and date of birth.
  • Provide your email address and phone number.

How to open Coast Capital chequing accounts

Coast Capital makes it easy to open a chequing account in just a few minutes. Here are the steps to apply:

Step 1: Select Your Account Type.

To apply for a Coast Capital Chequing Account, visit their website and select the account type you want to open. Options include the Coast Capital Free Chequing, Free Debit, and More Account®, and others like the High-Interest Savings Account, Prestige Package, or Classic Package.

You can indicate whether it’s a joint account, its purpose, and whether Coast Capital will be your primary financial institution.

Step 2: Provide Your Personal Information

The next step is to provide your basic personal information, such as your name, address, contact information, SIN (optional), and employment details. You will also need to verify your identity by providing a government-issued ID.

Step 3: Review and Submit Your Application

After providing all the necessary information, take some time to review your application to ensure everything is accurate and complete. Once you’re satisfied, submit your application. Coast Capital will review it and get back to you shortly to let you know its status.

Other Coast Capital chequing accounts

If the Coast Capital Free Chequing, Free Debit, and More Account isn’t the right fit for you, there are other accounts you can consider. Here are the best coast capital chequing account options:

1. Coast Chequing Classic Package

With this account, you can make 40 free monthly purchases; the monthly charge is only $11. Spend another dollar on each subsequent exchange. You’ll be able to write your own checks and bank drafts, receive paper statements and get a rebate on a safety deposit box in addition to the perks you get with the free account.

2. Coast Chequing Prestige Package

Unlimited free transactions, except international wire transfers, are included with the $21 monthly Prestige Package. However, if you always keep $5,000 or more in your account, the monthly cost will be waived.

3. Coast US Chequing

This is the best Coast Capital Chequing Account if you regularly transact business in the US dollar. There are no membership costs, but you are limited to one free monthly purchase. Nevertheless, if you keep $1,000 or more in your account daily, you can make as many purchases as you like without incurring any fees.

How to use your Coast Capital chequing account for deposits and withdrawals

The Coast Capital Free Debit, Free Chequing, and More Account makes depositing and withdrawing funds simple and fast.

You can fund your Coast Capital account at their convenient ATMs or bank locations. The Coast Capital online banking lets you deposit cheques via a mobile app by taking a picture.

You can use your debit card on any Coast Capital ATM or ATMs part of the Exchange Network across Canada for cash withdrawals. If you’d rather withdraw cash in person, simply stop by any Coast Capital location and chat with a customer service agent.

If you need to transfer money to your Coast Capital account from another financial institution, you can use Interac e-Transfer for free.

This service allows you to send money electronically to your Coast Capital account using only your email address or mobile phone number. If you have multiple Coast Capital accounts, you can make free transfers between them.

Best Coast Capital chequing accounts conclusion

Coast Capital Chequing Accounts offer a range of features and benefits for Canadians seeking a reliable and cost-effective financial account. These accounts simplify personal finance management with unlimited transactions, online and mobile banking, and thousands of ATMs across Canada.

These accounts have some charges and limitations, but their excellent interest rates and cheap fees make them appealing to many users. Overall, Coast Capital Chequing Accounts are a great option for a chequing account in Canada.

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FAQs about the best Coast Capital chequing accounts

What chequing accounts does Coast Capital have?

Coast Capital offers US Chequing Accounts, Classic Packages, Prestige Packages, Free Debit, Free Cheque, and More Accounts.

What is the Coast Capital Chequing Account minimum balance?

Coast Capital Checking Accounts do not have a minimum balance requirement. However, if you keep a certain amount in your Prestige Package or US Chequing Account, you won't have to pay any transaction fees. This amount is $1000 for US Chequing Account and $5000 for the Prestige Package.

How can I use Coast Capital Online Banking?

You can download their mobile app or log in through their website for Coast Capital sign in. You will need your PAN and PAC, your debit card number's last 8 digits, and a 7-digit personal access code. After a successful coast capital login, you can make a username and password, validate your contact information, and confirm your details.

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