The Financial Consumer Agency of Canada (FCAC) has established a commitment with major banks to offer free bank accounts to specific groups, including disabled individuals who qualify for the Disability tax credit (DTC) or are a recipient of provincial social assistance such as ODSP. This commitment was updated on December 1, 2025, enhancing the benefits and ensuring they are more widely available to Canadians in need. All accounts include at least 18 free debit transactions per month (a 50% increase from the previous 12 transaction maximum) along with some Interac e-transfer services.
Below are a list of financial institutions and the services they provide.
| Financial Institution | Account name | Transactions | Interac e-transfer transactions |
| Alterna Bank | Basic Chequing | 18 free debit transactions per month | Unlimited |
| Bank of China (Canada) | Basic Chequing Account | 18 free transactions per month | 4 free per month |
| BMO | Practical Plan | 18 free debit transactions per month | Unlimited |
| CIBC | Everyday Chequing | 18 free debit transactions per month | Unlimited |
| Hana Bank Canada | 1Q Chequing/1Q Savings | 18 free debit transactions per month | Unlimited |
| ICICI Bank | Basic Chequing Account | 18 free debit transactions per month | Unlimited |
| Industrial Commercial Bank of China | Basic Chequing Account | Unlimited | Unlimited |
| Innovation Federal Credit Union | No-Fee Bank Account | Unlimited | Unlimited |
| Laurentian Bank | Essential Services | 18 free debit transactions per month | Unlimited |
| National Bank | The Minimalist | 18 free debit transactions per month | Unlimited |
| Royal Bank of Canada | Day to Day Banking | 18 free debit transactions per month | Unlimited |
| Scotiabank | Basic Plus Bank Account | 18 free debit transactions per month | Unlimited |
| Tangerine Bank | No-Fee Daily Chequing Account | Unlimited | Unlimited |
| TD Bank | Minimum Chequing | 18 free debit transactions per month | Unlimited |
Note – Since they are voluntary commitments monitored by the FCAC, banks are required to educate their staff of these no fee account options. If a bank representative is unaware, ask to speak to another representative or specifically mention the FCAC Modernized Commitment on no cost bank accounts.
Note 2 – Beneficiaries or account holders may have to provide proof that they are eligible for the DTC or ODSP. Different banks will have different methods of determining whether the client is qualified.