Chequing and Savings Accounts

A savings account is a safe place to set aside and grow your money. It pays interest on your balance as you save for short or long-term goals. A chequing account is often used for everyday banking. You will likely use it to receive your pay cheque, pay bills, and conduct online banking.

To open a chequing account at Meridian, you will need proof that you are a Canadian resident and at least 18 years old. You will also need an email address.

No. Your chequing account is where you keep and manage your money. It is most often used for day-to-day transactions, bill payments, and online banking. Your debit card is used to access your chequing account, whether you need to deposit or withdraw cash, or make point-of-sale purchases.

Your chequing account is used to manage your money. You can deposit cash or cheques, make withdrawals, make point-of-sale purchases, send Interac e-Transfers^®, transfer money between accounts, or make pre-authorized payments.

Online banking offers both convenience and security. With 24/7 access to your accounts, you can check your balances, view transactions, and transfer money between accounts. You can also deposit cheques, pay your bills, and set up automatic alerts. At tax-time, you can easily download the forms and statements you need – no more waiting in line at a branch to conduct your day-to-day banking.

Meridian’s Student Chequing Package is available to Members ages 18-25. Members continuing their education beyond age 25 are eligible to maintain student benefits with proof⁵ of enrollment. Once you graduate, you will have until your next birthday to transition your account to one of our other chequing packages. To determine which one is right for you, compare our chequing packages

There are a few ways to open a chequing account or savings account with Meridian. You can open an account anytime online, or, if you’d prefer to speak to someone in person, simply visit a branch in your area. Alternatively, give our Contact Centre a call to get started.

Overdraft protection is a service that covers you in case your account becomes overdrawn. This could happen if you write a cheque or set up a pre-authorized withdrawal from your account and there is not enough money in your account to cover it. Overdraft fees are costly, and a returned cheque or payment can negatively affect your credit score. Having overdraft in place helps you avoid the fees and the embarrassment of a bounced cheque, while giving you time to replace the money in your account.

One of the best ways to save money on banking fees is to make sure you have the right chequing package for your needs. If you send a large number of Interac e-Transfers^® each month, for example, you'll want a plan that allows for this activity, without charging additional transaction fees. Some chequing packages waive transaction fees when you hold a minimum monthly balance. To make sure you have the optimal features for your needs, compare our chequing packages.