Best Youth Accounts in Ontario, Canada

We researched the best Youth Accounts (under 17 years old) offered by Credit Unions in Ontario, Canada. One parent must accompany their child under 17 to open an account. The child can use the passport and birth certificate for identification. Age of majority in Ontario is 18.

Our best choices are:
- Kindred Credit Union - the most complete free account (including 15 free E-Transfers)
- Meridian Credit Union - best interest

Kindred CU	Libro CU	Meridian CU
Generations Plan Chequing	Go Free chequing	Youth Savings Account (combines Chequing with Savings)
no monthly fee	no monthly fee	no monthly fee
unlimited free transactions:	unlimited transactions	unlimited free transactions
Bill payments (MemberDirect Online and Phone banking and Kindred ATMs) Cheque clearing GLOBAL PAYMENT™ Mastercard® card transactions Withdrawals (Kindred ATMs) Personalized cheque orders Pre-authorized debit transactions Travellers’ cheques	5 free surcharge-free Interac® ATM withdrawals*    Interest 0.125%	Surcharge-free access to Meridian ABMs and over 3,300 EXCHANGE® Network ABMs across Canada;           Access to online, mobile, in-branch and telephone banking
15 free transactions per month including: ATM withdrawals (ACCULINK®, Interac®, THE EXCHANGE®) Interac point-of-sale purchase Over-the-counter bill payments	2 free Interac e-Transfers per month	$1.25 per transfer
Optimum Savings	Youth Savings	Youth Savings Account (combines Chequing with Savings)
no charge	no charge	no charge
one free debit/month	unlimited transactions	unlimited transactions
Savings Interest    0.85%	0.125%	1.40%

 

Get 1.75% interest for your Cash Account and $25 Welcome Bonus when you use the link below to enroll: https://www.wealthsimple.com/invite

+ You get some of the best investments options: no fee Stocks and ETFs, managed portfolios, crypto investments.

Here are the steps to get the 1.75% interest and $25 Welcome Bonus:

1.  Enroll online following the link: https://www.wealthsimple.com/invite

2. Fund your new account - open the new account and fund it within 30 days.

3. The $25 bonus will be deposited into your account! 

Wealthsimple offers an All in one solutions for all your day to day banking and investments needs!

- Welcome bonus $25

- 1.75% High-interest Cash Account (Chequing & Savings) - one of the best on the market

- All types of accounts: TFSA, RRSP, FHSA, RESP, non-registered

- Managed Portfolios investments

- Stocks and ETFs self managed investments with zero commissions

- Crypto investments and transactions

- Easy manage your transactions using Wealthsimple App