I’ve been trying to set up multiple chequing accounts with separate cards at the same bank, but it seems tricky. I checked with Scotiabank, and they told me they only issue one debit card per person. Do any other banks in Canada support what I’m trying to do? Or is this just not possible here? I had this setup in the U.S. and found it super helpful.
Right now, I’m using two different banks, but I’d rather have just one. My goal is to keep an account for bills and essentials separate from an account for casual spending (like restaurants and shopping).
The reason I want separate cards, rather than mapping two accounts to one card, is because sometimes vendors still pull funds from my primary account even when I select a different account at the terminal. Plus, online purchases always default to the primary account.
Some additional info: my payroll already gets split between accounts based on my budget. This setup makes it much easier for me to keep track of allocated vs. unallocated funds.
I have a Scotiabank ‘Ultimate’ account with $6,000 in it as an emergency fund, which waives my monthly fees. This account also covers the annual fee on my everyday credit card and provides a free second chequing account for daily banking.
However, I don’t have a debit card for the Ultimate account. Most terminals give a ‘chequing or savings’ prompt, so that might be the limitation?
Scotiabank and Tangerine only allow one ‘client card.’ It might be a debit card if you have the right accounts, but if you only have other products, it’s basically for online banking access.
Daryn said:
Scotiabank and Tangerine only allow one ‘client card.’ It might be a debit card if you have the right accounts, but if you only have other products, it’s basically for online banking access.
I’ve never had an issue with terminals using the wrong account. Why not set the primary account on your card to the one you want for spending?
@Daryn
I actually tried that—set ‘savings’ as my spending account and ‘chequing’ for bills. But I ran into issues with recurring bills and online purchases where I couldn’t pick the account, so it went back to manual management. Works at POS but not online.
I checked online, and yes, you can have multiple chequing accounts with banks like Scotia. However, it doesn’t mention separate cards.
If you use online or mobile banking, you don’t need separate cards since you can toggle between accounts. Or, try using multiple credit cards with a rewards program you like and pay them off monthly from your chequing account.
You can open multiple relationships (separate account sets) at a bank. Just don’t link it to your primary account. It’s like you’re a different customer. You won’t get a second CDIC coverage, though; if the bank fails, you’re covered for $300,000 total.
This second relationship would have its own debit card. Online access would also be separate, and you’d have to use eTransfer or ‘transfer to another client’ to move funds between accounts.