CONTACT CENTRE
Our truly local representatives are here to serve you:
1-866-866-6641
CONTACT CENTRE
Our truly local representatives are here to serve you:
1-866-866-6641
Our Members continue to send more Interac e-Transfers® on a monthly basis. As a result, after listening to your feedback, we’re excited to announce that we have made significant investments into our Chequing Account packages so that you can get the most out of your Membership with PenFinancial. As of June 1st, some of our Chequing Account packages will be updated to include up to 99 free Interac e-Transfers® each month.*
Additionally, we have removed the ATM fee for using any Ding Free® ATMs of which there are over 40 ATMs in Niagara, and 3,600 ATMs across Canada without additional surcharges.
Please note: We have made several changes to other fees, including increases to our monthly passbook fee, wire fees, and more. For a full list of our updated fees, please visit our fees page.
Please find the account changes and frequently asked questions listed below. For any additional questions, please reach out to your truly local Contact Centre located right here in Niagara, at 1-866-866-6641.
per month
Previously $5
18 included transactions (increased from 10)
4 free Interac e-Transfers® per month (rebated at month-end) $1.50 each thereafter
$1 per additional transaction
Unlimited deposits
per month
Previously $15
NEW: 99 free Interac e-Transfers® per month (rebated at month-end)
NEW: 50% discount off a premium PenFinancial Collabria Mastercard annual fee (primary card only, rebated into your PenFinancial Chequing account)
Unlimited transactions
Unlimited deposits
*Monthly account fee waived when you maintain $5,000 minimum monthly balance. (Previously $3,000)
per month
$1 per transaction
$1.50 per Interac e-Transfer®
Unlimited deposits
ages 25 & under
per month
NEW: 99 free Interac e-Transfers® per month (rebated at month-end)
Unlimited transactions
Unlimited deposits
ages 60+
per month
Existing Senior Account Members will continue to receive this chequing account package at no fee.
Unlimited transactions
Unlimited deposits
4 free Interac e-Transfers® per month (rebated at month-end)
Discounts on safety deposit boxes
*Monthly account fee waived when you maintain $2,500 minimum monthly balance.
optional account for
Members aged 60+
per month
(50% off Unlimited account pricing)
NEW: 99 free Interac e-Transfers® per month (rebated at month-end)
NEW: 50% discount off a premium PenFinancial Collabria Mastercard annual fee (primary card only, rebated into your PenFinancial Chequing account)
NEW: 1 free cheque order per year (50 cheques)
NEW: Up to 2 bank drafts reimbursed per month
Unlimited transactions
Unlimited deposits
Discounts on safety deposit boxes
*Monthly account fee waived when you maintain $5,000 minimum monthly balance.
On June 1st, 2025, we’re updating our Chequing Account packages to include greater benefits for our Members, including up to 99 e-Transfers per month free on certain packages. The changes are automatic, and there is no action required.
The Unlimited package will increase to $20 per month. This monthly fee is waived when a $5,000 minimum monthly balance is maintained.
The Preferred package will increase to $7 per month.
Additionally, we’re adding the option of a Senior Unlimited package at $10 per month for our Seniors (60+). This monthly fee is waived when a $5,000 minimum monthly balance is maintained.
All changes and upgrades to the account packages are listed above.
After reviewing our Member’s feedback from recent surveys, it became clear that we need to include more e-Transfers and simplify our Chequing Accounts. Additionally, we’ve also removed the ATM fee when using the ding free® ATM network. We’re proud to be able to make these changes while continuing to keep our pricing competitive with our Credit Union peers.
June 1, 2025.
There is no action required from our members. If you’d like to change packages, or are a Senior and would like to upgrade to the Senior Unlimited account, please reach out to your PenFinancial representative or call our truly local Contact Centre at 1-866-866-6641.
For all existing packages, your PenFinancial account numbers, bank cards, cheques, and pre-authorized transaction information all remain the same and there is no action required.
If you are a senior and would like to upgrade to our Senior Unlimited package, there may be impact to your pre-authorized transaction information. To confirm if there are changes, please reach out to your PenFinancial representative.
Unless you are upgrading to the Senior Unlimited account, there is no need to replace your cheques. If you upgrade to the Senior Unlimited account, your cheques may have to be updated. The good news is the Senior Unlimited account includes a free cheque order each year! Please reach out to your PenFinancial representative if a new cheque order is required.
If you have an Unlimited or Senior Unlimited account, PenFinancial will automatically reimburse 50% of your PenFinancial Collabria Mastercard annual fee into your Chequing account. This reimbursement will take place on October 31st of each year. While the reimbursement will happen automatically into your Chequing account, please note that you are still required to pay your PenFinancial Collabria Mastercard annual fee as you normally would.
*Interac e-Transfers included in account packages are reimbursed within 7 days of the following month. Account packages and other fees are subject to change.
Interac e-Transfer® Trade-mark of Interac Corp. Used under license.
Chequing account features and fees are subject to change with 30 days notice.
Interac e-Transfers will be charged at the time of transfer, but refunded after month-end in accordance with package conditions.
Transaction: Includes pre-authorized debits, cheque clearing, ATM debit transactions, transfers between accounts, bill payments online and using telephone banking. In-branch bill payments are $1.85.
Minimum monthly balance must be maintained for the entire month in order to waive monthly package fee
