Best Vancity Chequing Accounts - Comparewise

Best Vancity Chequing Accounts

The best Vancity chequing accounts ensure your money is always within reach for transactions. They also come with many benefits, including flexibility if you use your debit card frequently and access to digital banking.

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Last Updated: Apr 16, 2024

Compare 6 Best Vancity Chequing Accounts

6 Results

#1 Choice
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Vancity E-Package Chequing

$7.75
Monthly Fee
Unlimited
Transactions
  • Unlimited debit transactions and Interac e-Transfers
  • Monthly fee waived with $1,000 balance
  • Free everyday debit card
Pros & Cons
Extra Details
Popular
Get Started

Vancity Pay As You Go Chequing

$0
Monthly Fee
Unlimited
Transactions
  • Free online, mobile transactions
  • No monthly fee
  • Only pay for the features you need
Pros & Cons
Extra Details
Best Value
Get Started

Vancity USD Chequing

$0
Monthly Fee
Unlimited
Transactions
  • Protect yourself from rate fluctuations
  • No monthly fee
  • Easily transfer between accounts
Pros & Cons
Extra Details
Get Started

Vancity Chequing Plus Youth Account

$0
Monthly Fee
Unlimited
Transactions
  • For youth under 25
  • No monthly fee
  • Free unlimited everyday transactions
Pros & Cons
Extra Details
Get Started

Vancity Access Chequing Account

$0
Monthly Fee
40
Transactions
  • For members with disabilities
  • No monthly fee
  • Free Interac e-Transfers
Pros & Cons
Extra Details
Get Started

Vancity USD Senior Chequing Account

$0
Monthly Fee
Unlimited
Transactions
  • For members 55+
  • No monthly fee
  • Protect yourself from rate fluctuations
Pros & Cons
Extra Details

Best Vancity Chequing Accounts

Vancity is one of Canada’s long-established banks offering Chequing Accounts, giving residents instant access to their funds. The available accounts are E-Package Chequing, Pay As You Go, Youth Account, Senior Account, USD Chequing, and Senior USD Account.

There’s also Access Chequing for members with disabilities. These accounts offer you a wide range of services and daily access to your money.

It’s interesting to note that virtually all the best Vancity chequing accounts do not require monthly fees. Moreover, you get no charges on daily transactions, primarily when you conduct business with the bank in person.

What chequing accounts does Vancity have?

If you want to open a Vancity chequing account, you can choose from any of the seven available options. Each has unique features and benefits, depending on what meets your needs. Whether you’re young or just heading into retirement, there’s a plan for you that doesn’t involve extra charges.

Below are the features of the best Vancity chequing accounts:

E-Package Chequing

These are some of the key features associated with the E-Package Chequing account:

  1. As one of the best Vancity chequing accounts, you’ll get free unlimited everyday transactions.
  2. No monthly fee, but you must maintain a $1,000 minimum daily balance.
  3. Fast Vancity online banking transactions, including free Interac e-Transfers.
  4. Easy to send, receive or request money online.
  5. Withdraw money for free across Canada.
  6. Anytime access to your account and payments via the Vancity mobile app.
  7. 100% insured deposits into this chequing account.

Pay As You Go Chequing Account

The following provides a snapshot of what you can expect from the Pay As You Go Chequing Account:

  1. Pay as you go with no monthly fee required.
  2. Free, unlimited everyday transactions
  3. Time-saving cheque deposits via the Vancity mobile app.
  4. Excellent if you handle multiple transactions, such as payments and tax returns.

USD Chequing Account

The USD Chequing Account might be the perfect fit if the following features appeal to you:

  1. Perfect chequing account to protect yourself from losing out to rate fluctuations.
  2. Efficiently move money between your Canadian and US dollar accounts via online banking or mobile apps.
  3. It’s one of the best Vancity chequing accounts with no monthly fees required.
  4. Ease of transactions.

Chequing Plus Youth Account

Thinking about opening a Vancity Chequing Plus Youth Account? Here’s what you should know:

  1. Unlimited everyday transactions for cheques, preauthorized payment, online and for mobile apps.
  2. Easy banking processes save you time.
  3. Designed with exclusive offers for members under 25 years.
  4. Withdraw money for free all over Canada

Access Chequing Account

Applying for an Access Chequing Account is ideal for the following reasons:

  1. Those with disabilities are not left out with this account specifically designed for them.
  2. Users will get about 40 free monthly transactions, then $0.50 per transaction after ($0.70 for in-person transactions).
  3. Enjoy free online payments, free first cheques (x50), free travellers’ cheques, and US dollar drafts.
  4. You’ll get $5 off a safety deposit box.

USD Senior Chequing Account

Are you a senior citizen transacting in US dollars? If so, Vancity has a chequing account design specifically for you. These are the features associated with the USD Senior Chequing Account:

  1. Created for seniors over 55 years.
  2. Access to US dollar account
  3. Moving money between your Canadian and US dollar accounts online or through the mobile app.
best vancity chequing accounts - comparewise

Requirements to open Vancity chequing accounts

Opening a Vancity chequing account is an easy process. If you’re considering any of the best Vancity chequing accounts above, these are requirements you must satisfy:

  • Personal details, such as name, date of birth, employment status, etc.
  • Age: Potential chequing account holders must not be younger than the majority in British Columbia at 19 years.
  • Resident status: To open a Vancity account, you must be a BC (British Columbia) resident. Additionally, you must have a permanent address in BC. Vancity will not open chequing accounts for non-BC residents.
  • You can apply in person or have the bank call you. In either case, you can easily book an appointment. Make sure you’re a resident of BC with a verifiable address.
  • Your Social Insurance Number (SIN).

How to open a Vancity chequing account

Now that you know the requirements to open a chequing account with Vancity, it’s time to open one. In simple steps, here’s how you can accomplish the straightforward process:

  1. Locate the nearest Vancity bank in BC or visit the bank’s website. Vancity has 58 branches in BC.
  2. Choose the best Vancity chequing account that suits your needs.
  3. Take all the necessary documents along, including your means of identification and proof of residency in BC.
  4. You must purchase five membership shares for $5.
  5. Fill in the application form. Physically or online, you must provide specific details, including personal ones.
  6. Review the form, ensuring you understand every detail, including the terms and conditions of running Vancity chequing accounts.
  7. After following the instructions, wait for a short while for approval to use your new chequing account.
  8. Telephone support is available Monday-Saturday, including a toll-free number.

Best Vancity chequing accounts conclusion

Banking makes it easier to manage your money and perform different transactions, regardless of the circumstances, including emergencies. The best Vancity chequing accounts give you leverage to complete regular transactions efficiently. Thankfully, you can choose the chequing account that meets your needs.

This article has provided the most viable options to make banking a hubby for you. One is the E-Package chequing account, which stands out as the best. Follow the steps above to set up your preferred chequing account today.

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May 3, 2023
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FAQs about the best Vancity chequing accounts

What is the Vancity chequing account minimum balance?

You must maintain a minimum daily balance of $1,000 without paying a monthly fee for the E-Package chequing account.

What are the best Vancity chequing accounts?

Each Vancity chequing account comes with top-notch benefits. However, based on this review, these are the best:

  • The E-Package chequing is the best because it's secure and lets you withdraw money for free across Canada.
  • The Pay As You Go account follows closely behind, thanks to fast, timely cheque deposits via the Vancity mobile app. Only pay for the features you need.

Does Vancity offer free chequing accounts?

No. There are no free chequing accounts. However, some chequing accounts offer waivers and free access to specific transactions. For example, the Pay as you go option doesn't charge a monthly fee. Also, you are allowed free online bill payments and mobile cheque deposits.

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