Most banks will not issue cheque books for savings accounts
Savings accounts and chequing accounts are designed for different purposes, and banks typically do not provide cheque books for savings accounts. A cheque book is a tool for frequent, everyday spending — which is what chequing accounts are built for. Savings accounts are meant to hold money and earn interest, not to be the account you write cheques from.
If you need to write cheques regularly, your bank will ask you to open a chequing account instead. Some banks offer accounts that combine features of both, but the standard savings account does not come with cheque-writing capability.
Key Takeaways
- Banks do not issue cheque books for savings accounts because savings accounts are not designed for frequent transactions.
- If you need to write cheques, you will need to open a chequing account, which your bank can set up at the same time as your savings account.
- Some banks offer hybrid accounts that allow both savings features and cheque writing, though these may have different fees or interest rates.
- You can transfer money from savings to chequing and then write a cheque, but this adds an extra step each time.
- Ask your bank directly whether they offer accounts that combine both features, as options vary by institution.
Why savings accounts do not come with cheques
Banks restrict cheque books to chequing accounts because of how the two accounts work differently. A savings account is meant to hold money over time and earn interest on your balance. Cheques are designed for paying bills and making purchases — transactions that happen frequently and reduce your balance.
When you write a cheque, the bank has to process it through the clearing system, which takes time and costs the bank money. Savings accounts typically have limits on how many withdrawals you can make per month (often six, though this varies by bank and account type). Writing cheques would count against that limit and would make the account harder to manage as a savings tool.
Chequing accounts, by contrast, have no withdrawal limits and are built to handle frequent transactions. That is why cheque books come with them.
Opening a chequing account if you need to write cheques
If you currently have only a savings account and you need to write cheques, contact your bank and ask to open a chequing account. Most banks can set this up in one visit or over the phone. You will need to provide identification and your social insurance number, just as you did for your savings account.
Many people keep both accounts at the same bank — a savings account for money you want to set aside, and a chequing account for everyday spending and bill payments. You can transfer money between them whenever you need to, usually at no cost if they are at the same bank.
Once your chequing account is open, the bank will issue you a cheque book. Cheque books usually arrive by mail within one to two weeks, though some banks can provide temporary cheques or allow you to order them online.
Hybrid accounts that combine savings and cheque features
Some banks offer accounts that allow both cheque writing and interest earnings, though these are less common than traditional savings or chequing accounts. These hybrid accounts may have different fee structures — for example, they might charge per cheque written, or they might offer a lower interest rate than a pure savings account.
If you want to explore this option, ask your bank what accounts they offer that combine both features. The trade-offs (such as lower interest or per-cheque fees) may or may not make sense for how you plan to use the account.
Using transfers instead of cheques
If you do not write cheques often, another option is to keep your money in savings and transfer it to your chequing account only when you need to write a cheque. This keeps most of your money earning interest in savings while still giving you the ability to pay by cheque when necessary.
Transfers between your own accounts at the same bank are usually free and happen instantly or within one business day. This method works well if you write cheques only occasionally — for rent, insurance, or other regular bills — rather than multiple times per week.
Online and mobile payment alternatives
Many people no longer need cheque books at all because they pay bills and send money using online banking, mobile apps, or bill payment services. Your bank's online platform likely allows you to pay bills directly from your savings account without writing a cheque.
If the people or businesses you need to pay accept electronic transfers, credit cards, or debit cards, you may not need a cheque book even if you open a chequing account. Ask your bank what payment methods are available through your account.
Frequently Asked Questions
Can I write cheques directly from my savings account?
No. Banks do not issue cheque books for savings accounts. If you need to write cheques, you must open a chequing account. You can transfer money from savings to chequing first, but the cheques must be drawn on the chequing account.
Will opening a chequing account close my savings account?
No. You can have both accounts open at the same time at the same bank. Many people do this — they keep savings separate from the account they use for everyday spending and bill payments.
How long does it take to get a cheque book after I open a chequing account?
Cheque books usually arrive by mail within one to two weeks. Some banks offer temporary cheques or allow you to order them online for faster delivery. Ask your bank what options they have when you open the account.
Do I have to use cheques if I open a chequing account?
No. You can use your chequing account for online bill payments, debit card purchases, or transfers without ever writing a cheque. Opening a chequing account gives you the option to write cheques, but you do not have to use them.
What if my bank does not offer a hybrid account?
Most banks do not offer hybrid accounts. Your best option is to open both a savings account and a chequing account and transfer money between them as needed. This keeps your savings earning interest while giving you a separate account for cheques and everyday spending.