Innovation No-Fee Chequing Account

Overview

Innovation's account combines unlimited supported transactions with debit-card, ATM, cheque, digital, and Saskatchewan branch access.

Free ATM access is tied to Ding Free, a surcharge-free ATM network for participating Canadian credit unions. Other Interac withdrawals cost $2.50 and Cirrus US or international withdrawals cost $4 before any operator charge. Cheque transactions are included, but ordering cheques costs extra.

Opening the account establishes a credit-union membership with a $5 membership share. Banking services are unavailable in Quebec, and closing within 180 days carries a fee. Those conditions are separate from the recurring monthly account fee.

Innovation supports incoming and outgoing wire transfers for a fee, including Canadian, US, and international destinations subject to its wire instructions and availability.

Features and access

Monthly fees and transactions

Monthly fee: $0The normal recurring monthly fee is $0.
Monthly transactions: UnlimitedUnlimited supported transactions, including debit purchases, bill payments, transfers, and Interac e-Transfers.

Transfers

Monthly Interac e-Transfers: UnlimitedUnlimited no-fee Interac e-Transfers; amount limits were not confirmed during verification.

Card and payments

Payment card: YesOptional Debit Mastercard with online and international acceptance; contactless in-person purchases are unavailable outside Canada.

Cash and branch access

Cash deposits: Select Innovation ATMs in SaskatchewanInnovation's locator explicitly identifies Saskatchewan ATMs that accept cash and cheque deposits, and its personal agreement permits ATM deposits to any personal account. No-Fee Chequing has no deposit fee or monthly transaction count, but locator records conflict for some machines and cash limits, accepted notes, coins, availability timing, and support outside Innovation ATMs remain unknown.
Cash withdrawals: Ding Free + other ATMsDing Free withdrawals have no Innovation surcharge. Other Interac ATM withdrawals cost $2.50 and Cirrus US or international withdrawals cost $4; separate operator charges were not established.
Branch access: YesInnovation operates branches in Saskatchewan in addition to digital and telephone banking.

Cheques and ownership

Cheque writing: YesWritten cheques are included in unlimited debit transactions; cheque orders cost extra.
Cheque deposits: YesDigital banking supports mobile cheque deposit.
Joint account: YesThe official terms address jointly opened accounts; the holder limit was not confirmed.

Interest

Interest rate: NoneThe official account-and-fee schedule identifies the account as non-interest earning.

Deposit protection

Innovation Federal Credit Union is a CDIC member; eligible deposits receive coverage under applicable categories and limits.