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Where to open an FHSA
What each provider offers, from their own pages.
Short answer: Most big banks and online investing platforms offer an FHSA. The real differences are what it can hold (savings, GICs, funds or stocks), whether you get advice, and the fees to withdraw or move it. Providers are listed alphabetically. We don’t rank them.
What to check first
- Cash or invest? If you’re buying in a year or two, a savings account or GIC keeps the balance steady. Investing can grow more but can also drop right before you buy.
- Fees to get out. Look for withdrawal and transfer-out fees, since you’ll take the money out for your home.
- Advice or self-directed. Some accounts come with an advisor or managed portfolio; others are do-it-yourself.
- The current rate. Savings and GIC rates change often, so check the provider’s page on the day.
FHSA providers side by side
| Provider | Type | Ways to open and hold it | What it can hold | Fees and minimums we found |
|---|---|---|---|---|
| BMO | Big bank | Branch or advisor, BMO InvestorLine self-directed or adviceDirect, BMO SmartFolio (managed) | Savings, GICs, mutual funds, stocks, bonds, ETFs | Not listed on its FHSA page |
| CIBC | Big bank | With a CIBC advisor (CIBC Investment FHSA) | Savings, GICs, mutual funds, stocks, ETFs | Not listed on its FHSA page |
| EQ Bank | Online bank | Online, FHSA Savings Account or FHSA GICs | Savings and GICs only | Not listed on its FHSA page. CDIC member. |
| National Bank | Big bank | Branch or online | Savings (tiered rate), GICs, NBI portfolios | Listed in its personal banking fee guide, not on the FHSA page |
| Questrade | Online investing platform | Self-directed online, or managed portfolios | Stocks, ETFs and other self-directed investments | No account or inactivity fee on the FHSA. $150 to transfer out. Reimburses transfer-in fees up to $150. No minimum to open, but minimums apply to invest. |
| RBC | Big bank | Branch or advisor, RBC Direct Investing (self-directed), RBC InvestEase (managed ETF portfolios) | Savings, GICs, mutual funds, stocks, bonds, ETFs, options | No minimum balance to open. Fees not listed on its FHSA page. |
| Scotiabank | Big bank | Branch or advisor | Cash, GICs, mutual funds, stocks, bonds | $50 per eligible withdrawal. $150 to transfer to another institution. |
| TD | Big bank | Branch with a TD Personal Banker, TD Direct Investing or TD Easy Trade (self-directed) | GICs, mutual funds, stocks, ETFs, bonds (by channel). Cash contributions only, no in-kind. | Not listed on its FHSA pages |
| Wealthsimple | Online investing platform | Self-directed (Trade), managed portfolios, or an FHSA that holds cash | Cash, stocks, ETFs | Commission-free trades. Managed: 0.5% management fee on its Core plan. Covers transfer-in fees on transfers over $25,000 (conditions apply). |
From each provider’s own FHSA and fee pages, checked October 2026. “Not listed” means the page didn’t show it, not that there’s no fee. Rates and fees change; check before you open.
Whichever you pick, the CRA rules are the same everywhere. Our FHSA guide covers the limits and withdrawals, and the planner shows what your FHSA adds to your down payment.
Common questions
Which bank is best for an FHSA?
There isn’t one answer, and we don’t rank them. It depends on whether you’ll hold cash or GICs or invest, whether you want advice, and the fees for withdrawing or moving the money. Check each provider’s current rates and fees.
Can I have FHSAs at more than one place?
Yes. You can have more than one FHSA, but the $8,000 yearly and $40,000 lifetime limits are shared across all of them.
Can I move my FHSA to another provider?
Yes, a direct transfer between your FHSAs doesn’t use contribution room. The provider you leave may charge a transfer fee, and some providers cover it when you move in.
Sources
- Opening your FHSAs, Canada Revenue Agency. Checked October 2026.
- Withdrawals and transfers out of your FHSAs, Canada Revenue Agency. Checked October 2026.
- BMO: First Home Savings Account, BMO. Checked October 2026.
- CIBC: First Home Savings Account, CIBC. Checked October 2026.
- EQ Bank: FHSA, EQ Bank. Checked October 2026.
- National Bank: FHSA, National Bank. Checked October 2026.
- Questrade: FHSA, Questrade. Checked October 2026.
- Questrade: administrative fees, Questrade. Checked October 2026.
- Questrade: FHSA questions, Questrade. Checked October 2026.
- RBC: First Home Savings Account, RBC. Checked October 2026.
- Scotiabank: First Home Savings Account, Scotiabank. Checked October 2026.
- Scotiabank: investing fees at a glance, Scotiabank. Checked October 2026.
- TD: FHSA, TD. Checked October 2026.
- TD Direct Investing: FHSA, TD. Checked October 2026.
- Wealthsimple: FHSA, Wealthsimple. Checked October 2026.
- Wealthsimple: pricing, Wealthsimple. Checked October 2026.
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Estimates only. Not tax, legal or financial advice.
Rough numbers, not a quote or a lender’s decision. Check with a lawyer or notary and your lender before you rely on them. See Disclosures and Methodology.