What Canada’s big banks charge in 2026, now that NSF fees are capped at $10

Key findings

Each one is worked out from the tables below when this page is built, so it always matches them — all from the banks’ own fee documents, checked October 14–15, 2026.

1. 1

   All five banks list an NSF fee of exactly $10 — the federal maximum since March 12, 2026. Before the cap, the Financial Consumer Agency of Canada says NSF fees typically ranged from $45 to $48. Check the table

2. 2

   All five say they won’t charge an NSF fee more than once within two business days on the same account. Four (BMO, CIBC, RBC and TD) charge no NSF fee when you’d be overdrawn by less than $10; Scotiabank’s wording is “$10 or less”. Check the table

3. 3

   All five list a $5 charge when they let you overdraw without Overdraft Protection (how often it applies differs — see the table), and $5 a month for the monthly plan of optional Overdraft Protection. Both carry interest: 21% a year at CIBC, Scotiabank and TD, and 22% at RBC; BMO posts its rate at bmo.com/rates. Check the table

4. 4

   Monthly fees on the 14 chequing accounts in the table run from $3.95 (Scotiabank Basic Banking Account and TD Minimum Chequing Account) to $17.95 (BMO Performance Chequing and TD Unlimited Chequing Account). Check the table

5. 5

   Seven of the 14 accounts, at four of the five banks, waive or rebate the monthly fee if you keep a minimum balance every day of the month (each business day, at TD): $4,000 for BMO Performance Chequing, CIBC Smart Account, Scotiabank Preferred Package and TD Unlimited Chequing Account (each with unlimited transactions); and $3,000 for BMO Plus Chequing, Scotiabank Basic Plus Bank Account and TD Every Day Chequing Account (25 transactions a month included in each). None of RBC’s three listed accounts has a minimum-balance waiver. Check the table

6. 6

   Seniors’ discounts and rebates on these accounts start at age 60 at BMO, Scotiabank and TD, and at 65 at CIBC and RBC. Check the table

7. 7

   A transaction over an account’s monthly limit costs $1.25 at all five; a withdrawal at another bank’s ATM in Canada costs $2 at all five, beyond any free ones an account includes. On foreign-currency debit purchases, TD lists 3.5%; BMO, CIBC, RBC and Scotiabank list 2.5%. Check the table

The federal NSF rule

Federal rules in force since March 12, 2026 cap NSF fees on personal deposit accounts at federally regulated banks at $10, allow no more than one NSF fee per account within 2 business days, and allow none when the account is overdrawn by less than $10 (Financial Consumer Agency of Canada).

Source: FCAC news release: New NSF fee regulations bring down cost of banking for Canadians, March 12, 2026.

NSF fees

What each bank charges when it returns a cheque or payment for non-sufficient funds, and when it says it won’t — in Canadian dollars, in the bank’s own words.

Overdraft fees

What each bank charges when it lets you overdraw without Overdraft Protection, and what its optional Overdraft Protection costs.

Overdraft without Overdraft Protection

Overdraft Protection (optional)

Monthly account fees

The monthly fee on each bank’s main chequing accounts — 14 in all — and how the bank says you can get it waived or reduced.

Other everyday fees

Extra transactions, other banks’ ATMs and debit purchases in a foreign currency.

Download the data

canada-bank-fees-2026.csv has every row of the tables above — 44 fees, one per line — in the same words, with each row’s sources and their dates.

• Columns: bank, category, fee, account (monthly fees), amount and conditions as the bank words them, then up to 3 sources per row, each with its link and date.
• Numbers read from the wording: fee_cad (the fee in dollars; for Overdraft Protection, its monthly plan), min_daily_balance_waiver_cad and transactions_included for the monthly fees. The findings above use these same numbers.
• Free to use with credit (CC BY 4.0), commercial use included: cite “Wally AI, What Canada’s big banks charge in 2026, now that NSF fees are capped at $10” and link to this page. Fees change — check a bank’s own schedule before relying on a figure.

How we checked

• Every fee, amount and waiver comes from the bank’s own fee schedule, account agreement or fee pages — PDFs included — listed under each row with the document’s date (or, for a web page without one, the day we checked it). No third-party fee lists.
• We checked them between October 14–15, 2026. The federal rule comes from the Financial Consumer Agency of Canada’s release of March 12, 2026.
• The tables cover personal accounts in Canadian dollars at each bank’s main chequing accounts. Credit card fees aren’t included. A fee can depend on your province (several don’t apply in Quebec), your age or your account, and your account agreement is what applies to you.
• The key findings are computed from the table rows when the site is built; if a bank’s wording changes so a finding no longer holds, the page can’t be published until it’s re-checked.
• Wally AI isn’t affiliated with any of these banks.

Each bank’s check

• BMO (October 15, 2026): Built on 2026-10-15 from BMO’s Agreements, Bank Plans and Fees for Everyday Banking booklet (effective June 2, 2026, including its overdraft charge update effective August 1, 2026; read in the browser because bmo.com refuses scripted downloads) and BMO’s live chequing, overdraft protection and contact pages. BMO publishes its overdraft interest rate separately at bmo.com/rates, so no rate is stated. Credit card late-payment fees are not included.
• CIBC (October 14, 2026): Built from CIBC’s Personal Deposit Account Agreements and Disclosures (October 1, 2026, which includes the Personal Account Service Fees) and CIBC’s live Smart Account, Everyday Chequing, NSF fee changes, Overdraft Protection and contact pages, fetched 2026-10-14. Credit card late-payment fees are not included.
• RBC Royal Bank (October 14, 2026): Re-checked field by field against RBC’s Personal Deposit Accounts Disclosures and Agreements and Value Program Terms (both dated August 3, 2026) and RBC’s live Canadian account, overdraft protection, Right Account Guarantee and contact pages, fetched 2026-10-14. Credit card late-payment and foreign-currency fees were not located on a single official RBC schedule and are not included.
• Scotiabank (October 14, 2026): Re-checked field by field against the Day-to-Day Banking Companion Booklet (September 2026; its Day-to-Day Banking part effective September 1, 2026) and Scotiabank’s live Canadian fee, overdraft protection, contact and phone pages, fetched 2026-10-14. Scotiabank’s NSF note says the fee does not apply when the shortfall is ‘$10 or less’ (the federal rule says ‘less than $10’); Scotiabank’s wording is used. Credit card late-payment and foreign-currency fees were not located on a single official schedule and are not included.
• TD Canada Trust (October 14, 2026): Re-checked field by field against TD’s About Our Accounts and Related Services (effective March 5, 2026) and TD’s live Canadian fee summary, Overdraft Protection, contact and complaint pages, fetched 2026-10-14. The NSF limits (once in 2 business days; none when overdrawn by less than $10) come from the live fee page, which is newer than the PDF. TD credit card late-payment and foreign-currency fees were not located on a single official schedule and are not included.