Save $360 per year
in banking fees!

No fees. Easy banking.
Anytime. Anywhere.

Open a No-Fee Bank Account
No monthly fees
Free & unlimited Interac® e-Transfers
Free ATMs across Canada*
No minimum balance required


Monthly Fee


Minimum Balance

Join the 43,000+ Canadians who pay no fees!

I have been using Innovation’s No-Fee Bank Account for years. The app is so convenient and easy to use!

Jalissa Klippenstein
Calgary, AB

There are no conditions with this account.
I can just bank and know it’s free!

Reagan Martin
Saskatoon, SK

Is this the right account for me?

If you’re tired of paying bank fees, our no fee chequing account is just what you need. Bank on your phone or online anytime with zero monthly fees and free unlimited transactions. Even Interac® e-Transfers are unlimited!

Welcome Offer

 Get $200 plus save as much as $360/year

in bank fees when you sign up!

Terms & Conditions Apply*

Follow these steps to get $200

Step 1
Open a No-Fee Bank Account online.
Enter SIGNUP200 in the promo code field.

Step 2
Set up a recurring direct deposit of $100 or more (for example, your paycheque). You must make two deposits within 90 days.

Benefits and Features

Bank on the go

Access your money anytime, anywhere with our app and online banking. We help you manage your funds or pay your bills on the go! 

No fees whatsoever

Save as much as $360/year in banking fees with the No-Fee Bank Account. Rest assured; there are no hidden charges.

Help at your fingertips

Reach us via our live chat feature, send us a message online or call us. We look forward to helping you!

Free, unlimited transactions

Get free, unlimited daily transactions, deposits and monthly withdrawals. Even Me-to-Me transfers are free!

A safe and secure experience

Banking with us is always safe. We’re committed to protecting your money and ensuring you can access it anytime you want. 

175+ advisors at your service

Connect with our advisors at 1.866.446.7001 and get expert advice or help with your account.

Additional Benefits

How to Open a No-Fee Bank Account with Innovation

Open an account online

Open an account in minutes. and get ready to experience our no-fee chequing account services.

Call us

Prefer to talk with us first? Call us at 1.866.446.7001.
We’d be happy to help you.

Requirements for Opening an Online No-Fee Bank Account

Proof of Age

You must be 18+ years of age to open an account

Proof of residence

You need to be a Canadian resident
(Excluding Quebec)

Social Insurance Number

You need to provide your social insurance number**

More reasons to bank with us!


Our No-Fee Bank Account has no monthly fees and no minimum balance requirement. So you can save as much as $360/year in bank fees.


You earn cash dividends simply by doing your everyday banking with us. The more you bank with us, the more you benefit. 


Your business helps us support your community in the form of scholarships, sponsorships and grants. We allocate 2% to 4% of pre-tax profits every year to our communities.


In order to get the $200 cash you must:

  • Open an Innovation No-Fee Bank Account online using the promo code SIGNUP200.

  • Deposit a minimum of $5.00 into your account to cover the cost of the membership fee.

  • Set up a recurring direct deposit of at least $100 and have it deposited twice into your No-Fee Bank Account. This must be done within 90 days of opening the No-Fee Bank Account.

We are real but we are a credit union – which is just like a bank only you have more say in how we’re run.
Over 43,000 Canadians have an Innovation No-Fee Bank Account with us. We have been around for over 60 years. Many happy members think of us as a best kept banking secret.

You must be a new customer to Innovation, 18 years or older and a Saskatchewan Resident. If you banked with Innovation prior to January 2016 and would now like to return to us, you are also eligible for the offer.

Once you complete the offer conditions, you will get the $200 cash the month following the 90 days of when you opened the account. (i.e. if you open your account on April 1, 2021, you will receive payment in July 2021).

We’ll deposit your $200 into your Member Rewards Account. You can transfer the $200 cash to any Innovation account of your choice.  

You can apply for a No-Fee Bank Account online. The application only takes a few minutes to complete! Sign up now.

A direct deposit is defined as an automatic recurring deposit that is deposited at least monthly, into your No-Fee Bank Account.

  • Examples of qualifying direct deposits include: payroll payments, child tax benefits, Employment Insurance (EI) payments, Canada Emergency Response Benefit (CERB) payments, pension payments, old age security payments and disability payments.

  • Examples of direct deposits that are not included are: Quarterly GST cheques, PayPal deposits, Uber deposits and Doordash deposits.

To set up a direct deposit from your employer:

  • Login to Innovation’s online banking.
  • Select My Accounts.
  • Select your new No-Fee Bank Account.
  • Choose Direct Deposit and Pre-Authorized Debit (PAD) Form. It will automatically populate your banking information for you.
  • Print off the form and give it to your employer.

To set up direct deposit with the Government:

  • Login to Innovation’s online banking.
  • Select Account Services.
  • Choose Set-Up CRA Direct Deposit for Individuals (CERB/CESB).
  • Follow the prompts and you’re set!

This feature is only available on your Innovation online banking.

Yes, the offer is only available to new Innovation members. However, you are also eligible if you banked with Innovation prior to January 2016 and would now like to return to us. Welcome back!

Not ready to join just yet?

Here’s something that might help.

    I agree with storage and handling of my data by this website.


    The No-Fee Bank Account is available for personal use only. To learn more, see our Account and Fee Information.

    Innovation Credit Union banking services are not available in Quebec.

    Interac e-Transfer is a registered trademark of Interac Corp. Used under licence.

    *ATM transactions for the No-Fee Bank Account are free at ding free ATM locations.

    **Your SIN is not required as a condition of opening an account with us, however if you prefer not to provide your SIN for our online application, please visit one of our branch locations to apply or call 1.866.446.7001 for more information.

    Need help choosing an account?
    See the FCAC Account Selector.

    *Terms & Conditions for the Welcome Offer

    Between April 1, 2021 and September 30, 2021 (the “Offer Period”) Qualifying Account Holders* are eligible for a $200 Innovation Credit Union New Member Bonus (the “Offer”), provided the following terms and conditions are met.

    *Qualifying Account Holders must be a new customer to Innovation Credit Union, be 18 years of age or older, be a Saskatchewan resident, meet Innovation Credit Union’s membership and account opening approval criteria, and cannot have been an Innovation Credit Union member since January 2016.  

    As a Qualifying Account Holder, you will be eligible to receive the $200 Offer, after meeting the following conditions:

    1. Successfully open an Innovation Credit Union No-Fee Bank Account (the “Account”) through the Online Account Opening Application on Innovation Credit Union’s website;
    2. Deposit a minimum of $5.00 into your Account to pay for the cost of the membership share fee; and
    3. Within 90 days of successfully opening your Account:
      • Set up one or more Eligible Recurring Direct Deposit(s)* to be deposited into your Account, the minimum amount must be at least $100 per deposit, and
      • Have the Eligible Recurring Direct Deposit(s)* credited into your Account at least twice.

    *An Eligible Recurring Direct Deposit is generally defined as an automatic recurring deposit, deposited at least monthly, into the newly opened No-Fee Bank Account. Innovation Credit Union may determine whether deposits are considered Eligible Recurring Direct Deposits for the purposes of this Offer.

    • Examples of Eligible Recurring Direct Deposits include: regular and consistent payroll payments, child tax benefits, Employment Insurance (EI) payments, Canada Emergency Response Benefit (CERB) payments, Saskatchewan Assistance Program payments, pension payments, old age security payments, and disability payments. 
    • Examples of deposits that are not considered an Eligible Recurring Direct Deposit include: Quarterly GST deposits, PayPal deposits, Uber deposits and Doordash deposits. 

    After the Offer Conditions have been met, the $200 Offer will be deposited into the Qualifying Account Holders’ Innovation Credit Union Member Rewards Account, as available funds, in the fourth month following the month, the account was opened. For example: If a Qualifying Account Holder opens their account in April 2021, and meets the Offer Conditions by July 2021, the $200 payment will be deposited by July 31, 2021. The Qualifying Account Holder’s No-Fee Bank Account must also be active and in good standing (not in an unauthorized overdraft or in a delinquent status) at that time of the Offer payment. If the No-Fee Bank Account is opened as a joint account, the Offer payment will be divided and deposited evenly into each account holder’s Innovation Credit Union Member Rewards Accounts. 

    The Qualifying Account Holder will be charged a fee of $30 if they close their No-Fee Bank Account within 180 days of opening the Account, as per Innovation Credit Union’s Account and Fee Information brochure. 

    Offer is non-transferable and is not valid in conjunction with any other Offer. Limit of one Offer per Qualifying Account Holder, including for joint Account Holders. The recipient(s) of the Offer is solely responsible for any tax consequences associated with their receipt thereof. 

    Innovation Credit Union employees and immediate family members of employees, are not eligible for the Offer. 

    Innovation Credit Union reserves the right to cancel or change these Terms and Conditions at any time without notice, for any reason, and to revoke the Offer for any customer who appears to be manipulating or abusing the Offer, or appears to be engaged in any suspicious/fraudulent activity.