Does Motusbank charge monthly fees?

No. Motusbank's chequing account has no monthly fee and no minimum balance requirement. Unlimited transactions and unlimited Interac e-Transfers are included. This puts Motusbank in the same fee category as Simplii Financial, Tangerine, EQ Bank, and the National Bank Digital Banking Account.

Does Motusbank reimburse ATM fees?

Yes. Motusbank reimburses ATM fees charged at any Canadian ATM up to a monthly cap. The rebate applies to fees charged by the ATM operator — Motusbank does not charge its own ATM fee. This gives Motusbank customers access to any ATM in Canada (bank-owned, credit union, independent) without network restrictions. The monthly cap on total rebates limits very heavy ATM users.

What is the Motusbank NSF fee?

Motusbank charges an NSF fee for returned items (cheques, pre-authorized debits, or other transactions that exceed the account balance). The specific fee amount is disclosed in the account agreement — contact Motusbank to confirm the current rate. NSF fees at Canadian banks typically range from $40 to $48.

Are TFSA and RRSP accounts free at Motusbank?

Yes. Motusbank's TFSA savings, RRSP savings, and GIC accounts carry no monthly maintenance fee and no minimum balance. These accounts earn approximately 3.10% interest (TFSA, RRSP) or up to 3.70% on GICs.

How does Motusbank compare to EQ Bank on fees?

Both Motusbank and EQ Bank have no monthly fees and no minimum balance. The difference is ATM access: EQ Bank provides fee-free access to Scotiabank ATMs and THE EXCHANGE Network; Motusbank reimburses ATM fees at any Canadian ATM up to a monthly cap. EQ Bank offers higher savings rates (~3.50% vs Motusbank's ~3.10%). Motusbank offers online mortgages (outside Quebec); EQ Bank does not. For pure savings rate, EQ Bank leads. For banking + mortgage at one institution, Motusbank is the stronger choice.

Motusbank Fees 2026 | No-Fee Chequing & Account Charges

Motusbank charges no monthly fees and has no minimum balance requirement. The chequing account includes unlimited transactions, unlimited e-Transfers, and ATM fee rebates at any Canadian ATM (up to a monthly cap).

Motusbank Fee Summary

Feature	Cost
Monthly chequing fee	$0
Minimum balance	None
Transactions	Unlimited, free
Interac e-Transfers	Unlimited, free
ATM rebates (any Canadian ATM)	Up to monthly cap
Mobile cheque deposit	Free
TFSA, RRSP maintenance fee	$0
GIC account fee	$0

ATM Fee Rebates

Motusbank reimburses ATM fees charged at any Canadian ATM:

ATM Type	Motusbank Charges	Operator Fee	Rebate
Any Canadian ATM	$0	Charged by operator	Reimbursed (up to monthly cap)
International ATM	$0 charged by Motusbank	Charged by operator	Not reimbursed

Monthly cap: Motusbank’s specific monthly rebate cap is outlined in the account agreement. Heavy ATM users (multiple withdrawals per week) may hit the cap — confirm the limit directly with Motusbank if ATM access is frequent.

ATM Access Model Comparison

Institution	ATM Model	Best For
Motusbank	Rebates any Canadian ATM (capped)	Flexible; any ATM
EQ Bank	THE EXCHANGE Network + Scotiabank	Dense network; no cap
Manulife Bank	THE EXCHANGE Network	Dense network; no cap
National Bank	Own ATMs + THE EXCHANGE	Quebec-heavy coverage

Motusbank vs Competitor Fees

Institution	Monthly Fee	Min Balance	e-Transfers	ATM
Motusbank	$0	None	Free, unlimited	Rebate any ATM (capped)
EQ Bank	$0	None	Free, unlimited	EXCHANGE Network (no cap)
Simplii Financial	$0	None	Free, unlimited	CIBC ATMs (no fee)
Tangerine	$0	None	Free, unlimited	Scotiabank ATMs (no fee)
National Bank (Digital)	$0	None	Free, unlimited	900 + EXCHANGE Network

NSF and Overdraft

Fee	Amount	Notes
NSF (returned item)	Disclosed in account agreement	Typically $40–$48 at Canadian banks
Overdraft protection	Available	Contact Motusbank for terms

Contact Motusbank directly or review the account agreement for the current NSF fee and overdraft protection rates.

GIC Minimum Deposit

Term	Rate (Approx.)	Notes
1 year	~3.70%	Non-redeemable; minimum deposit varies
2 year	~3.65%	Non-redeemable
5 year	~3.50%	Non-redeemable

GIC minimums are not prominently listed publicly — confirm with Motusbank. GICs are available in non-registered, TFSA, and RRSP accounts, all CDIC insured.