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Chequing Accounts

Chequing accounts to match your unique needs, with simplified fees. Go figure!

All of our chequing accounts include these services:

  • Access to THE EXCHANGE® Network (3,600 ATMs across Canada)
  • Deposit cheques with the PenFi mobile app
  • Pay with your debit or credit cards from your phone
  • Interac e-Transfer® (fees may apply)
  • Unlimited free deposits
  • Free access to the PenFi mobile banking app, online banking, and branches across Niagara and Haldimand

Open an account

Bank better together. Refer your friends & family and earn a $200 cash bonus!

Love banking with PenFinancial? Share the experience with your friends and family.

From now until August 31, 2026, you’ll both receive $200 when they open a qualifying account and complete a few simple steps.

Refer a friend today →

Terms and conditions apply. See the full details here.

Unlimited Chequing Account¹

Unlimited banking with premium benefits.

Formerly known as PenPremium prior to March 1, 2021

Key Features

  • $20 monthly fee (waived when you maintain a balance of $5,000)5
  • 99 free e-Transfers (rebated at month-end)2
  • Unlimited transactions3
  • Unlimited free deposits
  • 50% rebate on Collabria Mastercard® annual fee4
Get Started
Service Fee Brochure →

Preferred Chequing Account¹

Banking with benefits for a small monthly fee.

Formerly known as PenBasic prior to March 1, 2021

Key Features

  • $7 monthly fee
  • Includes 18 free transactions3
  • 4 free e-Transfers (rebated at month-end)2
  • $1 per additional transaction3
  • Unlimited free deposits
Get Started
Service Fee Brochure →

Senior Unlimited Chequing Account (60+)¹

Banking with even more privileges you’ve earned.

Key Features

  • $10 monthly fee (waived when you maintain a balance of $5,000)5
  • 99 free e-Transfers (rebated at month-end)2
  • Unlimited transactions3
  • 2 free bank drafts
  • 1 free cheque order annually
  • 50% rebate on Collabria Mastercard® annual fee4
Get Started
Service Fee Brochure →

Senior Classic Chequing Account (60+)¹

Banking with privileges you’ve earned.

Please note that existing Senior Members prior to June 1, 2025 will continue to have access to the Senior Classic at no monthly fee.

Key Features

  • $3 monthly fee (waived when you maintain a balance of $2,500)5
  • Unlimited transactions3
  • Free in-branch transactions
  • 4 free e-Transfers (rebated at month-end)2
Get Started
Service Fee Brochure →

Pay-As-You-Go Chequing Account¹

A great account for Members with light banking needs.

Key Features

  • No monthly fee
  • $1.50 per e-Transfer
  • $1 per transaction3
  • Unlimited free deposits
Get Started
Service Fee Brochure →

Student Chequing Account (25 & Under)¹

The ultimate chequing account for students.

Key Features

  • No monthly fee
  • 99 free e-Transfers (rebated at month-end)2
  • Unlimited transactions3
  • Interest earned just like a savings account
  • Deposit cheques with your phone
Get Started
Service Fee Brochure →
¹ Effective June 1, 2025. Additional terms and conditions apply. Account fees are subject to change.
 
2 Interac e-Transfers will be charged at the time of transfer, but rebated after month-end in accordance with package conditions.
Registered trade-mark of Interac Inc. Used under license.

3 Transaction: Includes pre-authorized debits, cheque clearing, ATM debit transactions, transfers between accounts, bill payments online
and using telephone banking. In-branch bill payments are $1.85.

4 Eligible PenFinancial Members will receive a rebate equal to 50% of the annual fee for the primary Collabria Mastercard. The rebate applies to the primary cardholder only and will be processed once annually on or about October 31st, by way of a deposit to the Member’s PenFinancial chequing account. The rebate date is subject to change without prior notice. This rebate offer cannot be combined with any other offers in a manner that exceeds 100% of the annual fee.

5 Minimum monthly balance must be maintained for the entire month in order to waive monthly package fee.

Contact us to open an account

Ready to set up a new account that matches your daily banking needs? Our Advisors are here to help.

Fill out to form, book an appointment online, or give us a call at 1-866-272-4275 and we can get you started today.

 

 
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PenFinancial Credit Union is a licensed credit union operating in, and under the laws of the province of Ontario.