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Stock impact report

Low-cost bank accounts available at 14 banks [Investment Executive - News]

ICICI Bank Limited (IBN) 
Canadians can access bank accounts costing no more than $4 per month at 14 federally regulated financial institutions, including the Big Six banks, the Financial Consumer Agency of Canada (FCAC) announced Monday. Additionally, no-fee accounts are available to students, those under 18, guaranteed income supplement recipients and beneficiaries of a registered disability savings account. The new offering follows an agreement the federal government and the FCAC negotiated with the banks, and was announced in the 2024 fall economic statement. Under the agreement, those eligible for the Disability Tax Credit (DTC) certificate and social assistance recipients from select provincial or territorial programs may also qualify for no-fee accounts. The following federally regulated financial institutions are part of the program Alterna Bank Bank of China (Canada) BMO CIBC Hana Bank Canada ICICI Bank Industrial Commercial Bank of China Innovation Federal Credit Union Laurentian Bank N Show less Read more
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