Finding the perfect bank account for your financial needs is something that all Canadians must do. A mix of financial products—from chequing accounts to savings accounts, debit card benefits, and low monthly fee offerings—is often the way in which Canadians cover all their bases, but finding those products can be difficult if you don’t know where to begin your search.

This article aims to provide a framework that can help you find the best chequing account for your needs in a simple and intuitive way. Financial services are often a messy game, and personal banking routinely offers a new perspective on the system of capital that we’ve come to understand and leverage for our consumer needs. A bank that meets your personal goals and requirements is a strong ally while navigating all the remaining uncertainty that exists beyond.

Consider the monthly fee and benefits structure.

Many Canadian shoppers do a lot of their spending at online clothing outlets, perusing ladies dresses, shoe options, and jeans for a night out, for instance. While others spend their hard earned cash on dining out at restaurants (and have been particularly hurt by the ongoing coronavirus pandemic as a result). These cash flow considerations are often a great starting place to evaluate new banks from.

The monthly fees and benefits that are put out by the bank often target certain usage types and spending categories for their clients. Many of these benefits and discount reward offers come with credit cards, but online banks are beginning to offer these types of incentives to debit card users as well as a way of drawing in new clients to their service.

Those who utilize a rewards debit card may be able to select high yielding categories – like clothing, restaurants, or travel – or may be locked into the specific areas provided for by the banking institution itself. Similarly, many bank accounts offer a fee waiver for those who utilize their card a minimum number of times per month, while others waive their monthly fee if you’ve reached a minimum cash value threshold over the average daily balance provided for in the sign up paperwork.

Finding the best Canadian chequing account starts with an understanding of the fees associated with the bank, and often the means by which you can eliminate them and take advantage of free banking services. Many banks offer reductions or total elimination of these, but the rules that govern the ways in which individual banks reduce your overall cost to use their financial products vary from bank to bank. ATM fees (along with ATM withdrawal costs themselves), minimum balance requirements, and cheque writing needs all must factor into your decision.

Add savings power for greater financial mobility.

One thing that online banks offer over competing traditional financial institutions is the flexibility of fees and a boosted savings account interest rate.

Alongside your chequing account, a savings pool that provides a healthy monthly boost is a great way to really take charge of your financial future. With an online bank like Tangerine (formerly known as ING Direct), foreign transaction fees can be reduced to a miniscule figure alongside a fantastic savings rate that will balloon your capital by an exciting new rate. Locking in both of these types of bank accounts is a great way to rethink questions swirling around personal finance and consumer habits.

Finding the perfect bank for your personalized needs starts with a look inward. Understanding the way that you use your current bank and the cash flow needs that you have as a worker, consumer, and member of a family is the best way to select a new bank that will work for you.