ATB Financial review

ATB Financial offers a range of banking services designed to meet personal and business needs. With its localized approach, diverse account options and a commitment to supporting the province’s economy, ATB stands out as a key player in Alberta’s financial landscape. This guide explores its offerings, pros & cons and how it compares to other financial institutions in Canada.

ATB Financial accounts and services

What is ATB Financial?

ATB Financial is a provincial Crown corporation and one of Alberta’s leading financial institutions, providing a range of banking and financial services exclusively for Albertans. ATB is owned by the Government of Alberta and operates over 300 locations across the province.

The institution offers personal and business banking solutions, including chequing and savings accounts, mortgages, loans, investment services and wealth management.

With its focus on supporting local communities, ATB reinvests profits back into Alberta, playing a significant role in the province’s economic development.

Dive deeper: Our full guide to ATB loans and lines of credit

What does ATB stand for?

ATB stands for Alberta Treasury Branches, which was the institution’s original name when it was founded in 1938. It officially changed its name to “ATB Financial” in 2017.

Where does ATB Financial rank in Canada?

ATB Financial ranks seventh among Canadian banks in terms of total assets. As of March 31, 2024, ATB Financial reported assets totaling approximately $60.382 billion. This positioning reflects ATB’s significant role within the Canadian banking landscape, particularly given its focus on serving the financial needs of Albertans.

ATB Financial chequing account options

ATB Financial offers seven chequing account options:

• Unlimited Chequing Account
• ATB Advantage Account
• Generation Account
• No-Fee All-In Digital Account
• Freedom Account
• Pay As You Go Account
• Basic Account

Dive into details on some of ATB’s popular accounts below.

Unlimited Chequing Account

ATB Unlimited Chequing Account

N/A
Bonus Offer

$15.95
Monthly Account Fee

Unlimited
Free Transactions

• Info
• Pros + Cons
• More Details

The ATB Unlimited Account offers unlimited transactions for a $15.95 monthly fee, which is waived with a $4,000 balance. Features include free unlimited Interac e-Transfers and joint account options. Overdraft Protection is available with fees charged based on usage. Drawbacks for this account include a $1.50 charge per e-Transfer Request Money and fees at non-ATB ABMs within Alberta. Global Transfers are free between $1,000 and $10,000, but transfers to certain countries cost $15. The account limits ABM fee reimbursements, which may be a disadvantage for frequent travelers.

• Unlimited day-to-day transactions
• Monthly fee waived with a $4,000 balance
• Free global transfers over $1,000

• $15.95 monthly fee
• $1.50 charge for Interac e-Transfer Request Money
• Non-ATB ABM fees within Alberta

Min. Age	N/A
Account Fee	$15.95

The ATB Unlimited Account suits users who transact frequently and can maintain a $4,000 balance to waive the $15.95 monthly fee. But if avoiding monthly fees without balance requirements is a priority, consider the Tangerine No-Fee Daily Chequing Account or the Simplii No-Fee Chequing Account. Both offer unlimited transactions and no monthly fees, while Simplii also provides free e-Transfers, which is ideal for those who use this service often.

No-Fee All-In Digital Account

ATB No-Fee All-In Digital Account

N/A
Bonus Offer

$0
Monthly Account Fee

Unlimited
Free Transactions

• Info
• Pros + Cons
• More Details

The No-Fee All-In Digital Account caters to digital bankers by offering unlimited digital transactions and no monthly fees. This account requires no minimum balance and includes free unlimited Interac e-Transfers, but it does have a $1.50 charge for each Interac e-Transfer Request Money transaction. It also comes with a linked line of credit ranging from $5,000 to $50,000, subject to qualification. Each non-digital transaction, including in-branch service, comes with a $5 fee, emphasizing its digital-first nature.

• No monthly fees and no minimum balance required
• Unlimited free digital transactions and Interac e-Transfers
• Access to a line of credit ranging from $5,000 to $50,000

• $1.50 charge for Interac e-Transfer requests
• $5 fee for each non-digital transaction
• Line of credit qualification required to open the account

Min. Age	N/A
Account Fee	$0

The No-Fee All-In Digital Account is ideal for users who primarily manage their banking online and can benefit from a line of credit. However, for those who might not qualify for the line of credit or who prefer more traditional banking methods, the EQ Bank Personal Account offers a great alternative chequing option with no monthly fees, no minimum balance and unlimited transactions without the need for a linked credit product. This account is well-suited for those who want straightforward digital banking with few prerequisites.

Compare ATB with other chequing accounts

ATB high interest savings account and other savings options

ATB Financial offers two different savings accounts—the Springboard Savings Account and High Interest Savings Account.

Springboard Savings Account

ATB Financial Springboard Savings Account

1.00%
Interest Rate

$0
Account Fee

N/A
Transaction Fee

• Info
• Pros + Cons
• More Details

At the time of this writing, The Springboard Savings Account from ATB offers an attractive interest rate of up to 4.00%, which includes a 3.00% promotional bonus on top of the regular rate for new deposits until March 31, 2025. This account is designed for those looking to grow their savings without a monthly fee or minimum balance requirement, although balances you need more than $5,000 to earn the highest interest. The account allows free deposits and easy transfers to and from other ATB accounts. Additionally, ATB promotes local economic growth by using savings to fund loans within Alberta.

• High interest rate of up to on your balance
• No monthly fees and no minimum balance required
• Supports local economy by funding loans within Alberta

• $5 fee for each additional withdrawal beyond the free monthly limit
• Transaction fees for in-branch activities, cheques and electronic transactions
• Interac e-Transfer and Global Transfers come with fees

Min. Age	N/A
Account Fee	$0
Transaction Fee	N/A
Interac e-Transfer Fee	N/A

The Springboard Savings Account is ideal for savers who want to maximize their interest earnings and contribute to the local economy without the constraints of typical banking fees.

However, for those looking for flexible withdrawals without transaction fees, the Tangerine Savings Account or EQ Bank Savings Plus Account might be better alternatives. These alternative accounts offer competitive interest rates with more lenient withdrawal policies and fewer transaction fees.

Compare ATB with other savings accounts

ATB Financial mortgage options

ATB Financial also services the mortgages sector, offering customers the following mortgage products:

• Residential Mortgage
• Rate First Residential Mortgage

ATB Financial business offerings and services

ATB Financial offers various business banking accounts and products to help entrepreneurs manage their finances:

Dive deeper: Our guide to the best business bank accounts in Canada

How can I open an ATB Financial account?

Opening an account with ATB Financial is an easy and user-friendly process. Here’s how you can get started:

1. Decide which account type you want by reviewing the options online or visiting a branch.
2. Gather necessary documents, such as a valid ID, proof of address and your Social Insurance Number.
3. Apply for the account online or in person at a branch.
4. Gain access to your account within the same day you set it up.
5. Make the initial deposit via transfer, in-branch deposit or another deposit method.

Where does ATB Financial have branches in Canada?

ATB Financial, a provincial Crown corporation, operates more than 300 locations throughout Alberta. This extensive network ensures easy access to specialized financial services, whether you need personal or business banking solutions.

What ATB Financial customer service options are available?

ATB Financial offers several customer service options. You can reach them by email through ATB’s Email Client Service for queries or support or call them directly for more immediate assistance. Additionally, ATB operates numerous branches across Alberta. These are accessible via their online branch locator. For specific banking needs, appointments with representatives can be booked at any branch.

ATB Financial online banking

As a major financial institution, ATB Financial provides a robust online banking platform designed to meet the diverse needs of its customers throughout Alberta.

With ATB Financial’s online banking, you can efficiently handle daily banking activities like:

• Checking your account balances
• Viewing transaction history
• Sending Interac e-Transfers
• Making global transfers
• Paying bills
• Setting up automatic payments
• Transferring funds between your accounts
• Personalizing your account names for better organization
• ATB TrackIt for money management and budgeting
• ATB Personal app to cash cheques using your phone’s camera

Does ATB Financial offer a mobile banking app?

Yes, ATB Financial offers a comprehensive mobile banking app that is available for free download on both iOS and Android devices.

The app lets you check account balances and transaction histories, send Interac e-Transfers and manage international transfers. You can also deposit cheques using your mobile device, pay bills and receive balance alerts to monitor your finances effectively. ATB also offers step-by-step tutorials to help you navigate the app and use its features to the fullest potential. Having convenient access via mobile app helps you can manage your finances anywhere without needing to visit a branch.

ATB Financial mobile app reviews and ratings

See the table below for a summary of ATB Financial mobile app reviews from both Android and iOS users (as of January 2025):

Apple App Store	4.6/5 stars based on over 35,000 ATB Financial reviews
Google Play	4.2/5 stars based on over 11,400 ATB Financial reviews

Although the app has over four stars on both platforms, recent feedback from the Google Play and Apple App Store highlights ongoing issues with logging into the app following updates. Users consistently report that the app redirects them to a website browser, defeating the purpose of having an app. The few existing positive reviews express easy navigation for day-to-day banking.

What is ATB Financial’s institution number and swift code?

ATB’s SWIFT code is ATBRCA6E. This code ensures that funds are securely and efficiently transferred between banks across international borders, facilitating global transactions for ATB clients.

How does ATB Financial compare to banks in Canada?

ATB Financial stands out primarily for its strong local presence, operating exclusively in Alberta with a large network of over 300 branches. This ensures that personal and specialized banking services are readily accessible to Albertans along with a range of financial products and services.

As for drawbacks, the ATB’s regional focus does limit its accessibility to Canadians outside of Alberta. Additionally, recent mobile app updates reported on Apple App Store and Google Play store have led to challenges with logging in, damaging the convenience of mobile banking.

ATB Financial currently holds a Trustpilot rating of 1.4 out of 5 stars (as of the time of writing), indicating an overall dissatisfaction among customers. However, this is normal for banks, as the Big Five also have low scores on Trustpilot.

For potential customers, the decision to choose ATB Financial should take into account these factors. While ATB excels in providing localized and possibly more affordable banking solutions, the limitations in its digital services and geographic reach may be significant for some users.

Pros and cons of banking with ATB Financial

Pros

• Extensive personal and business offerings and services
• Serves local Alberta residents
• Large branch network across Alberta
• Chequing and savings accounts with waivable fees
• Access to expert advisors for personal and business banking
• High interest savings rates

Cons

• Only available in Alberta
• Consistent mobile app login issues
• High fees for certain transactions
• You may find better high interest savings rates elsewhere

Bottom line

ATB Financial stands out as a reliable choice for Albertans, offering a wide range of personal, business and investment banking products tailored to meet the unique financial needs of provincial residents. Its local expertise and commitment to the community make it ideal for those seeking personalized services.

However, its Alberta-only presence and mixed customer reviews may limit its appeal to those outside the province or those looking for seamless digital solutions. If you value strong local support and a focus on helping Albertans succeed, ATB Financial could be a great fit. For broader accessibility, it might be worthwhile to explore national alternatives.

You can explore our picks for the best banks in Canada here.

Frequently asked questions about ATB Financial

• Is ATB Financial a federal bank?

  No, ATB Financial is not a federal bank. It is a provincial Crown corporation owned by the Government of Alberta. This means it operates under the jurisdiction of the province of Alberta, rather than being regulated by the federal government of Canada like national banks.

• Does ATB Financial offer retirement planning services?

  Yes, ATB Financial offers retirement planning services, including personalized advice and a variety of retirement savings options like RRSPs and TFSAs. They help clients set goals, plan investments and manage portfolios to meet their financial needs for retirement.

• What are the benefits of banking locally with ATB Financial compared to national banks?

  Banking locally with ATB Financial offers several advantages, especially for Albertans. As a provincial Crown corporation, ATB focuses exclusively on serving the local community. ATB Financial has over 300 branches across Alberta, providing easy access to in-person banking and expert assistance. Additionally, profits from ATB are reinvested into the province, supporting Alberta's economy. While national banks offer broader accessibility across Canada, ATB stands out for its community-focused approach.