Even in the digital age, many Canadians still rely on paper statements for their banking needs. Whether for budgeting, record-keeping, or tax purposes, having physical statements from banks is valuable. In 2025, several Canadian banks offer free paper statements alongside no-fee chequing accounts, giving customers convenience without extra cost.
This guide provides a detailed overview of the banks offering these services, key features, benefits, and comparisons to help Canadians make informed decisions.
Why Free Paper Statements Are Still Relevant
Tangible Record-Keeping
While digital statements are convenient, paper statements provide a physical backup for:
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Budget tracking
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Tax filing and auditing
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Proof of transactions for legal or business purposes
Security and Privacy
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Paper statements can reduce digital exposure to cyber threats
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Avoids potential hacking or phishing risks associated with email statements
Accessibility
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Beneficial for seniors or customers uncomfortable with digital banking
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Easy to file, store, and retrieve when needed
Financial Organization
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Helps track monthly spending and income
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Easier to reconcile accounts and prevent overdrafts
Key Features of Banks Offering Free Paper Statements
No-Fee Chequing Accounts
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Eliminate monthly maintenance fees
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Offer unlimited debit transactions in many cases
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Include online and mobile banking options as complementary tools
Paper Statement Delivery
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Monthly or quarterly delivery based on bank policy
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Provides detailed transaction summaries, including deposits, withdrawals, and transfers
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Some banks allow customers to select specific mailing preferences
Accessibility and Customer Service
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Dedicated customer support for paper statement issues
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Option to combine paper statements with e-statements for convenience
Transparency in Fees
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Free statements ensure customers avoid hidden mailing or processing fees
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Combined with no-fee chequing, they allow cost-effective banking
Top Canadian Banks Offering Free Paper Statements in 2025
1. TD Canada Trust
Account Highlight: TD No-Fee Chequing with Paper Statements
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Monthly free statements mailed automatically
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No monthly maintenance fees
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Unlimited debit card transactions
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Optional overdraft protection
Why It Stands Out: TD combines traditional banking preferences with modern convenience, appealing to users who want both paper and digital banking options.
2. RBC Royal Bank
Account Highlight: RBC Everyday Chequing Account
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Free monthly paper statements
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No monthly account fees for qualifying customers
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Access to online banking and mobile app tools
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Wide branch network across Canada
Why It Stands Out: RBC emphasizes flexibility, allowing customers to choose between digital or paper statements while enjoying a no-fee account.
3. Scotiabank
Account Highlight: Scotiabank Basic Chequing
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Free paper statement delivery
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Minimal monthly fees waived under certain conditions
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Easy online and mobile banking options
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Transparent fee schedule
Why It Stands Out: Scotiabank offers affordable solutions for customers seeking paper statements without high banking costs.
4. BMO Bank of Montreal
Account Highlight: BMO Free Chequing with Paper Statements
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Automatic mailing of monthly statements
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Zero monthly maintenance fees under specific terms
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Online account management tools included
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Optional cheque writing privileges
Why It Stands Out: BMO focuses on customer choice and accessibility, ideal for those who rely on paper records.
5. CIBC
Account Highlight: CIBC Smart Chequing Account
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Free monthly paper statements
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Waived account fees for eligible customers
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Integrated mobile and online banking
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Supports financial tracking and budgeting
Why It Stands Out: CIBC balances affordable banking with reliable statement delivery, appealing to both individual and family users.
6. National Bank of Canada
Account Highlight: National Bank No-Fee Chequing
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Complimentary paper statements
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No monthly maintenance fees
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Full access to online banking tools
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Suitable for everyday personal banking
Why It Stands Out: National Bank provides transparent banking solutions for Canadians who prefer paper over digital notifications.
Comparison Table: Banks Offering Free Paper Statements
| Bank | Free Chequing | Paper Statement | Online Banking | Monthly Fee | Best For |
|---|---|---|---|---|---|
| TD Canada Trust | Yes | Yes | Yes | $0 | Customers wanting both paper & digital |
| RBC Royal Bank | Yes | Yes | Yes | $0* | Flexibility between digital & paper statements |
| Scotiabank | Yes | Yes | Yes | $0* | Affordable banking for paper statement users |
| BMO | Yes | Yes | Yes | $0* | Traditional banking preference |
| CIBC | Yes | Yes | Yes | $0* | Families & budget-conscious customers |
| National Bank | Yes | Yes | Yes | $0 | Everyday personal banking |
*Monthly fees may be waived under qualifying conditions
Benefits of Free Paper Statements
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No Additional Costs: Save money on statement mailing fees
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Enhanced Budget Management: Paper statements provide a visual overview of monthly transactions
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Reliable Record-Keeping: Useful for audits, tax purposes, and proof of transactions
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Security: Reduces exposure to digital threats
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Convenience: Easy to file, review, and reconcile with financial records
Common Mistakes and Tips
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Ignoring Account Eligibility: Some no-fee accounts require direct deposits or minimum balances
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Neglecting Statement Review: Even free statements should be regularly checked to catch errors
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Overlooking Digital Integration: Combine paper statements with online tools for maximum efficiency
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Assuming All Banks Are Equal: Paper statement services and fees vary; choose a bank that fits your lifestyle
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Not Updating Mailing Information: Ensure the bank has your current address for uninterrupted delivery
Real-Life Examples
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Small Business Owner: A bakery owner in Toronto uses TD Canada Trust paper statements to track expenses and reconcile accounts monthly.
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Senior Citizen: Joan prefers CIBC Smart Chequing to receive clear paper records for budgeting.
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Freelancer: David receives paper statements from RBC to maintain tax documentation for freelance income.
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Family Household: The Smith family uses BMO free chequing with paper statements for easy family budgeting.
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Remote Worker: Carla relies on National Bank paper statements for backup and digital verification.
Frequently Asked Questions (FAQs)
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Which Canadian banks provide free paper statements?
TD, RBC, Scotiabank, BMO, CIBC, and National Bank offer free paper statements with no-fee chequing accounts. -
Are there hidden fees for paper statements?
Typically, paper statements are free with qualifying accounts; always confirm specific account terms. -
Can I receive both paper and electronic statements?
Yes, most banks allow dual statement delivery for convenience and record-keeping. -
Do free chequing accounts have transaction limits?
Some accounts have limits, but many no-fee accounts offer unlimited debit transactions. -
Are paper statements mailed automatically?
Yes, banks typically mail monthly statements unless the customer opts out. -
Can businesses get free paper statements?
Some personal accounts offer small business solutions; dedicated business accounts may have separate terms. -
Is online banking still available with paper statements?
Yes, paper statements complement online and mobile banking. -
How secure are paper statements compared to e-statements?
Paper statements reduce exposure to digital risks but must be stored safely to prevent theft. -
Do banks charge for overdue or old statements?
Generally, no, but requesting duplicate historical statements may incur fees. -
Are paper statements environmentally friendly?
Paper statements use resources; customers can choose digital options to reduce environmental impact. -
Can I switch from digital to paper statements anytime?
Yes, most banks allow customers to change statement preferences easily.
Conclusion
In 2025, Canadian banks offering free paper statements with no-fee chequing accounts provide a balance between traditional banking and modern convenience. Banks such as TD, RBC, Scotiabank, BMO, CIBC, and National Bank ensure customers can receive detailed monthly statements without extra charges while enjoying everyday banking services.
For Canadians who value tangible records, paper statements remain a practical tool for budgeting, financial planning, and security. Combining these with online banking allows flexibility, transparency, and efficiency in personal finance management.
Choosing the right bank ensures cost-effective banking, reliable record-keeping, and access to modern banking tools, making free paper statements a smart choice for 2025.