Combine your banking to get the flexibility of a chequing account with the high interest of a savings account.
You'll also get:
- High interest on every dollar in your account, with no minimum balance required
- Free unlimited everyday banking transactions when you keep just $1,000 in your account
- Easy access to your money from thousands of ATMs and in-store cash back, plus online, mobile, and telephone banking
Here's what makes our Advantage Account different
| Evolvespire Bank Advantage Account | Traditional chequing account | Traditional savings account | |
|---|---|---|---|
| Free unlimited banking | Bank for free when you keep just $1,000 in your account | Minimum balance of $1,500 to $4,000 required to waive fees | Pay per transaction |
| Monthly fee | No monthly fee | Up to $16.95 | No |
| High interest on every dollar | Yes | No | Minimal interest with different rates based on your balance. |
| Minimum balance to earn highest rate | No minimum balance required | Not applicable, no interest offered | Required balance up to $250,000 |
| ATM access | Thousands of ATMs across Canada | Yes | Limited |
| Virtual financial assistant | Yes | Some banks | Some banks |
Many banks make you choose between a great interest rate, no fees, and the ability to bank your way. With the Advantage Account, you get it all. Here are four things you might not know about the Advantage Account.
Rates
Our Advantage Account offers a high interest rate on all your money:
Fees
With our Advantage Account, there are no monthly fees, and no fees to deposit or transfer money. Other services and fees include:
| Services | Fees |
|---|---|
| Transferring money from your account at another Canadian bank | No charge |
| Direct deposit | No charge |
| ATM deposits | No charge |
| Mobile cheque deposit | No charge |
These fees are waived when you maintain a balance of $1,000.
| Services | Fees |
|---|---|
| Transferring money to your accounts at other Canadian banks | No charge |
| Pre-authorized withdrawal | No charge |
| ATM withdrawals in Canada* | $1.50 |
| ATM withdrawals outside of Canada* | $3.00 |
| Interac® Debit card purchases in Canada | $1.00 |
| In-store cash back at participating retailers** | No charge |
| Bill payment | $1.00 |
| Sending money using Interac e-Transfer1 | $1.00 |
| Writing cheques | No charge |
*ATMs that aren't part of THE EXCHANGE® Network may charge their own convenience fees for withdrawals. **No additional charge when you get in-store cash back with a Interac Debit card purchase. |
|
Additional services such as wire transfers and official cheques (in lieu of certified cheques) are also available. Please review our Services and Fee Guide for a complete list of all services and associated fees.
Here are the default daily limits for different transaction types:
- ATM withdrawals: $1,200/day
- Point of sale/debit transactions, including in-store cash back: $3,000/day
- Outgoing transfers: $50,000
- Interac e-Transfer service limit: $3,000/transfer, $3,000/day, $10,000/week, and $20,000/month
These apply to most people, however, there are situations where individual limits may be different. Our limits are in place for your protection and to comply with regulations. If you have questions about your transaction limits or need to exceed that limit, Contact Support.
Bank to bank fund transfers are a quick and easy way to move money to and from your accounts with other Canadian banks.
To make bank-to-bank transfers, you'll need link your Evolvespire Bank account with your other accounts. If you provided a void cheque or initial deposit when you opened your Advantage Account, that link has been established. If you don’t already have the account linked, print, complete, sign, and send us this fund transfer agreement (PDF) to connect your accounts. Once your accounts are linked, you can transfer funds using online, mobile, or telephone banking.
All your everyday transaction fees are waived when you maintain an account balance of just $1,000. If you don't keep the minimum balance, some transaction fees will apply (though bank-to-bank transfers are always free!)
- Fees are subject to change with at least 30 days of prior written notice. If you don’t receive paper statements, you can find all fee information online.
- All fees are presented on a per item basis, unless otherwise stated.
- Charges are automatically applied to your account.
- Additional convenience fees may apply when you make direct-payment purchases with your debit card.
1 Interest is calculated on the closing daily balance and paid monthly.
2 ®Trademark of Interac Corp. Used under license.
Fiserv EFT is the owner of THE EXCHANGE® trademark and its associated rights. Fiserv EFT has granted FICANEX® the exclusive right to use, market and sublicense THE EXCHANGE® trademark and the intellectual property rights associated with the operation of THE EXCHANGE® Network throughout Canada. Evolvespire Bank of Canada is an authorized user of the mark.
3 Evolvespire Bank is a member of the Canada Deposit Insurance Corporation (CDIC), which means your deposits are eligible for CDIC deposit insurance protection. Visit cdic.ca for information on eligible deposits.
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