Banking · Offer tracker
Best bank account bonuses in Canada
Every current welcome offer we could verify at the source — and the math the banks skip: what's left after a year of monthly fees on the account they make you open. Expired offers drop off automatically when this page rebuilds each day.
Simplii — $300 + $50 Skip card
The only large bonus on a genuinely $0 account — no monthly fee ever erodes it. Three months of $100+ direct deposits and you're done.
View Simplii offerBMO — up to $900 + Walmart+
$700 cash core is the biggest in Canada; the rest needs $10,000 parked ~7 months. Fee account required — $484.60 net after a year of unwaived fees.
View BMO offerWealthsimple — 1% transfer match
1% on investment transfers of $25,000+ (to $20,000 max) — but paid over 24 months, and big withdrawals cut the remaining payouts.
View Wealthsimple offerEvery live offer, with the net-of-fees math
“Net after a year of fees” = the cash core minus 12 months of the cheapest qualifying account's fee, unwaived. Park $4,000–$6,000 to waive the fee and you pay in forgone interest instead.
| Offer | Qualifying account | What you must do | Watch for | Ends | Net after 1yr of fees |
|---|---|---|---|---|---|
| Simplii Financial — $300 cash + $50 Skip card No-fee account | No Fee Chequing ($0/mo) | Set up direct deposits of $100+/mo for 3 consecutive months. | New clients only. The cleanest big bonus in Canada — no fee ever erodes it. | Sep 30, 2026 | $300.00 |
| Tangerine — $250 cash No-fee account | No-Fee Daily Chequing ($0/mo) | Switch a $200+/mo payroll direct deposit and keep it for 2 months. | New clients only. Pairs with Tangerine’s separate 4.50%–4.60% savings promo (see below). | Oct 31, 2026 | $250.00 |
| Wealthsimple — 1% transfer match (up to $20,000) No-fee account | Wealthsimple Chequing ($0/mo) required to receive payouts | Register for the offer, initiate transfers within 30 days. A separate 3% match exists for active traders. | Paid in 24 monthly instalments, and withdrawing more than a 20% buffer reduces remaining payouts — this is a two-year loyalty contract dressed as a bonus. | Sep 15, 2026 | — |
| BMO — Up to $900 cash + Walmart+ membership | Performance ($17.95/mo) or Premium ($30.95/mo) chequing — performance fee waived with a $4,000 balance; Premium at $6,000 | Open and fund by Aug 6, 2026; recurring direct deposit of $500+ by Sep 30, plus 2 bill payments or 2 pre-authorized debits. The +$150 needs $10,000 in a Savings Amplifier held ~7 months. | The full $900 requires parking $10,000 in savings for about seven months and using BMO’s goals tool. | Aug 6, 2026 | $484.60 |
| CIBC — Up to $850 ($500 cash core) | Smart Account ($16.95/mo) — fee waived with a $4,000 end-of-day balance every day of the month | Within 60 days: recurring direct deposit of $500+/mo, plus 2 pre-authorized debits, 5 debit purchases, or 2 bill payments in the same month. | Strictest screen of the Big 6: no CIBC chequing account in the past 5 years, age 25+, the deposits must stay in place a full year — and the $500 pays out up to 7 months after opening. | No published end date | $296.60 |
| Scotiabank — Up to $700 cash ($500 core) | Preferred ($16.95/mo) or Ultimate ($30.95/mo) package — preferred waived with a $4,000 balance; Ultimate at $6,000 or $100k in combined balances | Open by Jul 2, 2026; within 60 days set up 2 of: recurring direct deposit, $50+ pre-authorized debit, or a $50+ bill payment. | The direct deposit and debits must recur for 6 consecutive months — the longest commitment of the Big 5. | Jul 2, 2026 Ends soon | $296.60 |
| TD — Up to $750 in value ($500 cash core) | Unlimited Chequing ($17.95/mo) or All-Inclusive ($30.95/mo) — unlimited waived with a $4,000 daily balance; All-Inclusive at $6,000 | Open by Oct 1, 2026; complete 2 of: recurring direct deposit, recurring pre-authorized debit, or a $50+ online bill payment by Dec 2, 2026. | Excluded if you held any TD chequing account as of Jun 4, 2026. The “$750” assumes ~$10,000 parked in the bonus-rate savings account. | Oct 1, 2026 | $284.60 |
| National Bank — Up to $600 cashback (stacked) | The Connected ($15.95/mo) or The Total ($28.95/mo) — connected waived with a $4,500 balance; Total at $6,000 | Stack components by Nov 3, 2026 — the more NBC products, the bigger the cashback. | NBC doesn’t publish the dollar split per component, so we can’t attribute the $600 — assume the headline needs the full product stack, including a mortgage. | Nov 3, 2026 | — |
| RBC — A new iPad (hardware, not cash) | Signature No Limit Banking ($16.95/mo) or VIP Banking ($30/mo) — discounted (not waived) through the RBC Value Program bundle | Open by Nov 2, 2026; within 90 days complete 2 of: full payroll/pension direct deposit, 2 pre-authorized monthly payments, or 2 bill payments. | You must keep the account open and in good standing until Nov 2, 2027 — a 12-month hold on a $16.95–$30/mo account is up to ~$360 in fees for a tablet. | Nov 2, 2026 | — |
Net figures use the cheapest qualifying account's full monthly fee for 12 months; “—” means the offer pays in hardware (RBC), an unattributed stack (National Bank), or a percentage match (Wealthsimple). All terms verified June 10, 2026 at each bank's own offer page.
Teaser savings rates running right now
Cash bonuses' quieter sibling: promotional interest. Real yield — with a cliff date. Set a calendar reminder for the day the promo ends, because every one of these collapses to an everyday rate far below the HISA leaders.
| Bank | Promo rate | How long | Fine print |
|---|---|---|---|
| Scotiabank | Up to 5.00% on MomentumPLUS Savings | First 3 months | New savings clients only — and you can’t have held a Scotia savings account in the past 2 years. |
| Simplii Financial | 4.60% on the High Interest Savings Account | 5 months, on up to $100,000 | New clients (or within 60 days of joining). Everyday rate afterwards is a tiered 0.30%–1.00%. Offer ends Jul 31, 2026. |
| Tangerine | 4.50% non-registered / 4.60% on TFSA, RSP and RIF savings | 153 days, on up to $1M per account type | New clients. The registered coverage makes this the strongest teaser for TFSA/RRSP cash. Everyday rate afterwards: 0.30%. Offer ends Jul 31, 2026. |
| BMO | 4.65% on the Savings Amplifier | Promo period, as part of the up-to-$900 chequing stack | Requires the new-chequing offer; the +$150 bonus needs $10,000 held about 7 months. Offer ends Aug 6, 2026. |
| TD | +4.00% bonus interest on a new savings account | 90 days, on up to $1M | Requires the new-chequing offer. Roughly 4.45% all-in on ePremium balances over $10,000. Offer ends Oct 1, 2026. |
The three catches banks bury
- The fee account. Every Big-6 cash offer requires a $15.95–$30.95/month account. Stay 12 months without a waiver and the fee eats $191–$371 of the bonus — that's why our table leads with the net figure, and why Simplii's smaller-looking $350 often beats a big-bank $500.
- The commitment clock. Scotiabank's deposits must recur 6 consecutive months, CIBC's must stay a full year, RBC's iPad needs the account open until November 2027. Cancel early and the bonus claws back or never lands.
- The lookback screen. CIBC: no CIBC chequing in 5 years. TD: nothing held as of June 4, 2026. Scotia's savings teaser: 2-year lookback. The banks remember longer than you do.
Business-account offers
| Bank | Offer | Ends |
|---|---|---|
| TD | Up to $700 for opening an eligible small-business chequing account (conditions apply), plus up to $300 more if you incorporate or register first | Apr 30, 2027 |
| Meridian | $400 cash for new business accounts | Jun 30, 2026Ends soon |
| CIBC | Up to $2,000 cash back via Global Money Transfer for Business components | Dec 31, 2026 |
Choosing the account itself matters more than the bonus — see our best business bank accounts comparison.
Frequently asked questions
What is the biggest bank account bonus in Canada right now?
On paper, BMO’s up-to-$900 stack (plus a Walmart+ membership) is the largest — but the headline needs $10,000 parked in savings for about seven months and a goals-tool task. The biggest simple cash is the $500 chequing core at TD, Scotiabank or CIBC. And the cleanest money is Simplii’s $300 + $50 Skip card, because it’s the only big offer on a genuinely $0 account — nothing claws it back.
What’s the catch with big-bank welcome bonuses?
Three catches, and the banks rarely lead with them. First, the account: every Big-6 cash offer requires a $15.95–$30.95/month account, so a 12-month stay costs $191–$371 in fees unless you park $4,000–$6,000 to waive them (which has its own cost — our bank fee calculator shows the forgone interest). Second, the commitment: Scotiabank’s deposits must recur 6 months, CIBC’s a full year, RBC demands the account stay open 12 months. Third, the payout lag: CIBC pays up to 7 months after opening. The “net after a year of fees” column in our table does this math for you.
Am I even eligible? The lookback rules explained
Each bank screens differently. CIBC is the strictest: no CIBC chequing account in the past 5 years, and you must be 25+. TD excludes anyone who held a TD chequing account as of June 4, 2026. Scotiabank’s 5.00% savings promo requires no Scotia savings account in the past 2 years. Simplii and Tangerine simply require you to be a new client. Read the offer’s terms before you move a payroll deposit — a failed condition usually means no bonus and no recourse.
Is bonus-chasing (churning) worth it in Canada?
Done occasionally, yes — a household switching payroll deposits once a year can collect $250–$500 with modest effort. Done aggressively, the friction adds up: payroll and pre-authorized payments must move and stay for 2–12 months, lookback rules block repeats for years, and a missed condition forfeits everything. The sustainable play: take a bonus when you were switching anyway, prefer no-fee accounts where the bonus is pure profit, and never hold a fee-charging account past the required period. Pick the destination account on its everyday merits — our no-fee chequing ranking is the place to start.
Are the 4.5%–5% savings rates real?
Real, but temporary by design — 90 days to 5 months, new clients only, then the rate collapses to the bank’s everyday rate (0.30% at Simplii and Tangerine; big-bank savings pay similarly little). They’re genuinely useful if you have idle cash and a calendar reminder for the cliff date. For money you don’t want to babysit, a flat everyday rate beats a teaser — compare the best everyday HISA rates, or lock the rate entirely with a GIC.
How current is this page?
Every offer was verified at the bank’s own offer page on June 10, 2026, and this page rebuilds daily — offers past their published end date drop off automatically. Two caveats: banks can pull or change offers without notice (CIBC explicitly reserves the right), and some offers have no published end date. Always confirm the live terms on the bank’s page before acting. See our methodology.
This page is for educational purposes only and is not financial advice. Welcome offers, promotional rates, eligibility rules and end dates change or are withdrawn without notice; every offer shown was verified at the bank's own offer page on June 10, 2026, and offers past their published end date are removed automatically at our daily rebuild. Net-of-fees figures assume the qualifying account's standard monthly fee for 12 months without a waiver. Confirm the live terms and your eligibility on the bank's site before moving any deposits. See our methodology for how we verify offers and make money.