ATB Financial

The ATB Financial Unlimited Account works for customers looking for a simple way to manage their everyday banking without the worry of transaction limits. For a monthly fee of $15.95, the account has unlimited transactions and free e-Transfers. The fee, however, is waived for customers who keep at least a $4,000 daily balance in their account, or who are a post-secondary student at the age of 26 or older. This waiver is similar to those found at the major Canadian banks.

The Unlimited Account provides the benefit of unlimited banking with ATB’s Alberta-based branch and ABM network. This may work well for an Albertan seeking regional service. It is, however, less of a draw for those located in other areas of the country as full-service access is limited geographically. The main drawback of the account is this restriction as the Big Six Canadian banks offer similarly priced packages but with national branch access. 

Providing customers with more features, the ATB Advantage Account includes unlimited transactions and free e-Transfers. It also provides accountholders with a reduction in their personal line of credit interest rate by up to 2.5%². Like other premium accounts, a fee waiver is possible for those who maintain a daily balance of at least $6,000. 

Like other accounts with this institution, the Advantage Account’s main limitation is the institution’s presence, which is predominantly in Alberta. Anyone outside of this area or who is a frequent traveller may struggle with the regional footprint of the institution. But for Albertans who stick close to home, the account features decent value.

The ATB No-Fee All-In Digital Account offers the rare combination of no monthly fees and no minimum balance requirements. It includes unlimited digital transactions like free Interac e-Transfers. The catch? The account requires you to obtain approval for a line of credit first. This makes it a good fit for those who qualify. If you qualify, that is.

Customers who want in-branch support may also find the account less appealing as ATB charges a fee for each transaction done in-branch or through telephone banking. If you are digitally savvy, though, and prefer to manage your money online anyways, it’s a strong option.

Giving customers a low-cost way to manage their occasional banking, the ATB Basic Account comes with an affordable price tag of $3.95. It also has a monthly fee waiver available for eligible clients. The monthly package includes 15 debit transactions and free Interac e-Transfers, making it a practical option for those who use their account less frequently. It is especially appealing to those in Alberta who can benefit from the regional branch network. 

While the cost is modest, so are the account features. If you regularly use your account for debit purchases, paying bills, writing cheques, or transferring money, you may find yourself exceeding the monthly transaction limits. In that case, you can consider a more comprehensive package for better value.

The ATB Pay As You Go Account gives customers a flexible way to bank. With no monthly fee, the account instead charges customers when they use certain services. If you rarely need access to your chequing account, then it could be the right fit for you. If, however, you make several transactions per month, the cost could rise above some of the basic account packages that include a higher monthly transaction limit. 

The real value in this account comes down to how much you use it. Competing digital institutions also have no-cost packages that come with a more generous transaction allowance. In many situations, those accounts can provide more value.