New chequing accounts now available

We are upgrading our chequing plans to better align our products with the current marketplace and offer our members more choices. Our new plans include a convenient pay-as-you-go option and two premium tiered plans offering a range of free Interac e-Transfers and the option to waive monthly fees with a minimum daily balance or monthly payroll/pension direct deposit.

The Premium Unlimited plan will also feature our new Benefits1 Bundle which includes free, unlimited access to legal, estate, identify theft and home referral assistance.

Current chequing account holders will transition to the new accounts as of June 3.

We reviewed your existing plan and account activity to determine the appropriate plan that offers the maximum value for our members. Please contact your branch or our Member Service Centre to review your transaction history and your day-to-day needs to see what works best for you. Don’t forget, there are two options to waive the monthly fee for our premium accounts. We’re happy to switch you to something different if you have another preference.

Absolutely. If after the transition you decide you would prefer a different package plan, we can make that change for you. You are also able to change your current account plan to one of our new plans any time after the accounts launch in April.

The Benefits1 Bundle is a valuable package of specialized services available exclusively to members with our Premium Unlimited plan. Within this benefits package, free guidance is provided for legal or estate matters, identity theft support and referrals for home services. It’s an incredible value from FirstOntario that you won’t find anywhere else! Visit FirstOntario.com/Benefits1 for full details including contact information.

The new chequing plans will be available as of April 15. Once they are launched, current Everyday chequing plans will no longer be offered.

Once Everyday account holders are transitioned to the new plan(s) on June 3, current plans will no longer be available.

Seniors who are 60+ receive a 50% discount on the monthly fee associated with our Premium and Premium Unlimited plan. Monthly fees can be waived by maintaining a minimum daily balance or monthly payroll/pension direct deposit.

Students* pay no monthly fee for the Premium plan and receive a 50% discount on the monthly fee associated with the Premium Unlimited plan with options to waive that fee.

Students up to the age of 25 must provide proof of post-secondary enrollment.

For our Premium plan, the monthly fee can be waived by maintaining a minimum daily balance of $4,000 or a minimum monthly payroll/pension direct deposit of $1,500 ($1,000 for seniors).

For the Premium Unlimited plan, the monthly fee can be waived by maintaining a minimum daily balance of $6,000 or a minimum monthly payroll/pension direct deposit of $2,500.

No. Account numbers and nicknames will not change.

Any unused cheques you have from your Everyday account will continue to work with your new plan because your account number will not change.

Yes. Your transaction history prior to the transition will still be available to you.