The Best Bank Account Promo Offers in Canada 2026

Different Bank Promos

Depending on whether you choose a traditional bank, a credit union, or an online bank, the stipulations associated with their offers will differ. There is almost always an expiry date as well. So, if you are thinking about changing banks or cashing in on an offer, you may not want to wait too long.

CIBC

Canadian Imperial Bank of Commerce, also known as CIBC, has two different promotions. The first is that you could get up to $850 when you open a CIBC Smart Account and add the CIBC Dividend Visa Infinite Card. To qualify for the promotion, here is what you need to do to receive it.

• Open a CIBC Smart Account as a chequing account (must be a new CIBC customer)
• Within 2 months of opening, set up at least one recurring direct deposit of $500 per month 
• Within 60 days of opening, either add 2 recurring pre-authorized debits, 2 online bill payments of $50 or more each, or 5 eligible Visa Debit purchases. 
• You can earn an extra $100 when you are approved for an eligible CIBC credit card within one month of opening your Smart Account.
• You can also get up to $250 in cash back with the CIBC Dividend Visa Infinite Card.

The CIBC Smart Account includes unlimited transactions, free e-transfers and low monthly fees. You must be at least 25 years old to get this type of chequing account.

The other promotion they have is a $125 bonus for opening a CIBC Smart Start Account. To earn that money, you must make 5 eligible Visa Debit purchases within 60 days of opening your account.

The great thing about this Smart Start account is that you can skip paying any account fees until you turn 25. You must be at least 16 years old to get this account. It includes unlimited e-transfers and Visa Debit transactions.

The Smart Start account also includes free SPC+ and Skip+ memberships, plus gas savings with Journie Rewards.

 TD

TD has an offer for you to get up to $1,000 when you open a new eligible chequing account by March 3, 2027. This starts at $850 with the TD All-Inclusive Banking Plan or $700 with the TD Unlimited Chequing Account, plus a $150 bundle bonus. 

To qualify, you must complete the following after opening your account:

• Within 30 days, set up and receive recurring direct deposits of at least $500 (Unlimited) or $1,500 (All-Inclusive), plus one of the following within 60 days:
• Set up at least one recurring pre-authorized debit payment of a minimum of $50
• Make an online bill payment of $50 or more

You can get an additional $150 bundle bonus when, within 30 days of opening your chequing account, you open a new TD Every Day, Growth or ePremium Savings Account with a pre-authorized transfer and are approved for an eligible new TD credit card. You can also earn a 4% bonus interest rate for 90 days when you open a new savings or TFSA high-interest savings account within 30 days and deposit funds. 

To receive this offer, you can get either of TD’s chequing accounts. The TD Unlimited Chequing Account or the TD All-Inclusive Banking Plan. Here is a breakdown of what is included in each.

TD Unlimited Chequing Account: The monthly fee is $17.95. This fee is waived if you can keep a minimum daily closing balance of $4,000 in your account at the end of every month. You also get unlimited transactions (including e-transfers), a rebate on any credit card fees for the first year, and no ATM Fees.

TD All-Inclusive Banking Plan: This plan includes the same things as the one above. The main differences are that the fee is $30.95, the minimum balance to waive the monthly fee is $6,000 instead of $4,000, and credit card fees are rebated annually on an eligible TD credit card. You can get certified cheques and money orders at no extra charge.

Scotiabank

Scotiabank is offering up to $1,000 when opening a Scotiabank Preferred Package or Ultimate Package account. When you open your account between October 30, 2026 and March 4, 2027, you could be eligible for this offer. It starts by opening a new chequing account and, within 60 days, completing the following:

• Set up and receive an eligible automated, recurring direct deposit (such as payroll or pension) for at least 4 consecutive months, plus one of the options below
• Set up a pre-authorized payment of at least $50 that recurs for 4 consecutive months
• Make one online bill payment of $50 or more, or make five eligible Visa Debit purchases

Once you’ve done this, you can then earn $700 and complete the next steps to be eligible to earn more. You can earn another $200 by opening your first Scotiabank RRSP, TFSA or FHSA within 60 days of opening your chequing account. 

You can also earn an extra $100 by getting approved for an eligible Scotiabank credit card within 60 days of opening your chequing account and making at least one purchase within 60 days of getting the card. 

Some perks included with this account include:

• Unlimited debit transactions
• Unlimited Interac e-transfers
• Scotia International Money Transfers for $1.99
• Overdraft Protection eligibility
• An additional 0.05% on your Momentum Savings Account
• Preferred Rates on select GICs
• No Monthly Account Fees on a Scotia US Dollar Account for Savings
• Trade 1 Get 1 with Scotia iTrade
• First-year annual rebate up to $150 on credit cards
• Scene+ program
• Fee waived on one non-Scotiabank ABM withdrawal monthly
• Unlimited ABM withdrawals with network ATMs

BMO

The Bank of Montreal, also known as BMO, has a few chequing account offers available, and if you qualify, you could get up to $1,100 back, plus a Walmart+ membership for up to 12 months. You can get this offer when opening an eligible Performance or Premium chequing account. 

The BMO Performance Chequing Account includes unlimited transactions, no-fee global money transfers, a $40 annual credit card fee rebate, a promotional rate of up to 5% for 4 months when you open a Savings Amplifier Account, and additional family member accounts. The monthly fee for this account is $17.95 or $0 with a minimum balance of $4,000. 

The BMO Premium Chequing Account includes no-fee global money transfers, OnGuard Identity Theft Protection, unlimited transactions and worldwide non-BMO ATM withdrawals, a preferred US foreign exchange rate, a $150 credit card annual fee rebate, a 5% promotional rate for 4 months on a Savings Amplifier Account, and accounts for family members. The monthly fee is $30.95.

To qualify for this offer, you need to complete 3 steps. Step one is to open and fund an eligible Performance or Premium chequing account by March 1, 2027.  By April 30, 2027, you must also complete the following:

• Set up a recurring direct deposit of $500 or more (required), plus one of the two actions below
• Make 2 online or mobile bill payments of $50 or more to two different payees
• Set up 2 pre-authorized payments of $50 or more from two different payees

Once you’ve completed step one, you will earn $800. Step two is to open a Savings Amplifier Account by March 1, 2027. You can also get a Walmart+ membership for up to 12 months by signing up with your BMO Debit Mastercard by April 30, 2027. To earn an extra  $200 savings bonus, you must complete both of the following:

• Deposit a total of $10,000 or more in the account within the first 30 days
• Keep the $10,000 in the account for 4 months, then for another 90 days

Step three is the credit card bundle. You can earn an extra $100 when you open and fund eligible chequing and savings accounts and get approved for an eligible BMO credit card. Step one must be completed to qualify for steps two or three. 

RBC

The Royal Bank of Canada also offers bank promotions. You can get up to $600: a $500 bonus once you qualify, plus a $100 anniversary bonus when you keep your account open and in good standing for 13 months. To qualify, open either an RBC Signature No Limit Banking Account or an RBC VIP Banking Account by March 1, 2027, then complete two of the following actions by May 10, 2027:

• Transfer your full recurring payroll or pension direct deposit
• Set up two preauthorized monthly payments
• Make two eligible bill payments to a service provider

With the RBC Signature No Limit Banking Account, you get unlimited transactions, 3 non-RBC ATM withdrawals, up to $48 off credit card fees and a fee of $16.95 per month or just $4 with the Value Program. The RBC VIP Banking Account offers unlimited transactions worldwide, no monthly fee for up to two additional CAD accounts or one USD account, and up to $120 off credit card annual fees. The monthly fee for this account is $30, or $17.05 with the Value Program.

With both RBC chequing accounts, you can get:

• Free Interac e-transfers 
• 3 cents off per litre at Petro-Canada
• The RBC right account guarantee
• Avion points on every purchase

There’s also no minimum balance requirement for either account.  

To keep the $500 bonus, your account and qualifying activities must stay in place until at least May 9, 2028. 

 Simplii Financial

Simplii Financial is an online bank that is affiliated with CIBC. They don’t have any in-person branches, but they are reachable online or over the phone.

You could earn $350 with Simplii by opening a new chequing account. You just need to add an eligible direct deposit. It has to be at least $100 and active for at least 4 months. You must open your account by January 31, 2027. 

The great thing about Simplii Financial is that all of their accounts have no fees and unlimited transactions and e-transfers. You also get access to all CIBC ATMs. There is no minimum or monthly balance requirement. You can do all of your transactions online or through mobile banking.

Tangerine

Another option for online bank accounts is Tangerine. With the Tangerine chequing account, you can earn a $250 cash bonus when you open a new account. It works when you sign up online. Once you have done that, you will open your first chequing account and new eligible savings accounts within 60 days of becoming a client. Then, within 60 days of opening your chequing account, set up payroll direct deposits totalling at least $200 per month. After 2 consecutive months, you will get the $250. This offer is available until April 30, 2027. 

All Tangerine accounts include Visa Debit, no fees for daily transactions or e-transfers, and access to Scotiabank ATMs. Tangerine also runs separate promotions on its savings and registered accounts, so check its website for the current terms. 

PC Financial

PC Financial is another online bank that offers a welcome bonus for its no-fee chequing account, also known as the PC Money account. However, theirs works a little differently. Instead of offering cash, they offer PC points that can be used at different Loblaws locations.

With PC Financial, you can open your new bank account online. Currently, you can earn up to 150,000 PC Optimum points (worth $150) when you open a new account and meet the offer conditions, so check PC Financial for the current requirements. 

With PC Financial, your account has no fees, free e-transfers, unlimited transactions, PC points for everyday purchases, and no minimum balance requirements. They’ve also added a new feature where you can have a spending balance and a savings balance. If you start a savings balance, you can earn 2.2% on your savings balance. 

Immediate Sign-Up Cash Bonuses

Unfortunately, there are no immediate sign-up bonuses when you get a new bank account. To receive the promotional offers, you must meet the bank’s stipulations. This means you can wait up to a few months to receive the money. 

Credit Card Promotions From Banks

When you are looking through the different bank account promotions, you may also notice that many different financial institutions offer promotions for their credit cards as well. If you are in the market for a new card, there may be a promotion for you, especially since many promo offers include rebates for credit cards that charge fees.

National Bank of Canada Platinum Mastercard

While there are no promotions for a National Bank of Canada Banking Package, there was recently a promotion for their Platinum Mastercard. Its most recent welcome offer (up to 35,000 points plus a first-year rebate of the $70 annual fee) ended on November 4, 2026, so check National Bank for its next promotion.  

The purchase interest rate on this card is 20.99%, and the cash advance rate is 22.49%. You can earn up to 2 points per dollar spent, get mobile device insurance, and get travel insurance for trips of 10 days or less. 

TD Rewards Visa

Along with its bank account promo, TD is currently offering a promo on its TD Rewards Visa. To qualify, you must meet certain requirements. The special offer includes $50 in points redeemable on Amazon.ca. There is no annual fee on this credit card, and the regular interest rate is 19.99%. Cash advance interest is 22.99%. Other features included with this card are:

• Mobile device insurance up to $1,000
• TD Payment Plans
• Discounts with Avis Rent a Car and Budget Rent a Car
• Purchase Security and Extended Warranty Protection

When it comes to points, you can earn:

• 2 TD Rewards Points for every $1 spent on Recurring Bill Payments, Streaming, Digital Gaming and Media
• 1 TD Rewards Point for every $1 spent on all other purchases
• 4 TD Rewards Points for every $1 spent with Expedia for TD
• 3 TD Rewards Points for every $1 spent on Groceries, Dining and Public Transit

CIBC Dividend Visa Infinite

With the CIBC Dividend Visa Infinite card, you can get your first-year annual fee of $120 waived, and up to 3 additional cards with the $50 fee waived. You can also earn 10% cash back on up to $2,000 in purchases in your first 4 statements (up to $200), plus $50 when you set up a pre-authorized payment. 

With this credit card, you can earn up to 4% cash back on gas and groceries, 2% on transportation as well as dining and recurring bill payments, and 1% on all additional purchases.

To qualify for this card, you will need a minimum personal income of $60,000 per year or $100,000 per household. The interest on this card is 21.99% for regular purchases and 22.99% for cash advances.

Simplii Cash Back Visa

Along with Simplii’s bank account offer, they also have a promotional offer on their cash back Visa card. For the first 3 months, earn 8% cash back on up to $1,000 in eligible restaurant, bar and coffee shop purchases. The rate will then drop to 4%. 

You also get 1.5% cash back on:

• Gas
• Groceries
• Drugstore purchases
• Preauthorized payments

Everything else is a standard rate of 0.5%.

BMO Cash Back Credit Card

BMO’s promotional offer for their credit card is 5% cash back on up to $2,500 in purchases for the first three months. They are also offering a 0.99% interest rate for the first 9 months on balance transfers. The regular purchase interest rate is 21.99%. There’s also a 2% transfer fee. 

After the promotional period expires, you still get pretty good cash-back rates. You get up to 3% cash back on all grocery purchases, 1% on recurring bill payments, and 0.5% cash back on everything else.

Tangerine Credit Card

Tangerine also has a really good promotional rate for credit cards. This is available for the World Mastercard and Money-Back credit cards. New cardholders can earn 10% cash back on up to $1,000 in purchases in the first 2 months (up to $100) when they apply by November 30, 2026. Along with Tangerine’s no-fee bank account, they also have no annual fee on their credit cards. The purchase interest rate on this card is 20.95%. 

High-Interest Savings Account Offers

While both chequing accounts and credit cards offer great options, it’s easy to forget that there are other types of accounts as well. Specifically, high-interest savings accounts. These accounts allow you to earn interest on your savings, but at a higher rate than a traditional account. That said, dipping into this account can decrease what you earn. 

Simplii HISA

One bank that offers a high-interest savings account is Simplii Financial. They are currently offering a promotional interest rate of 5.00% for 5 months on eligible deposits of up to $100,000 when you open an account by January 31, 2027. On top of that, there are no fees for Simplii Financial accounts, savings or chequing.

With a Simplii HISA, there is no minimum balance required, no transaction fees, and you can access your savings if you need them. A Simplii chequing account allows unlimited transactions, has no monthly fees, and offers overdraft protection if needed. However, you do need to be careful, as the promotional interest rate isn’t permanent. 

Neo Financial

Neo Financial is an online bank, meaning they aren’t a brick-and-mortar institution like traditional banks. However, they do still offer most of the financial products that a typical banking institution will, including a high-interest savings account. 

The Neo money account offers:

• An access card
• 2.00% interest on the free plan (up to 2.75% on paid plans)
• Free e-transfers
• Unlimited free transactions
• Unlimited bill payments
• Bank-to-bank transfers are free
• Autosave
• Direct deposit
• No monthly fees

With the Neo money account, you can also link your Neo personal investment account. Also, eligible funds of up to $100,000 are covered by the CDIC. This is the same for any accredited financial institution in Canada. 

Tangerine High-Interest Savings Account

A Tangerine savings account is another option for a HISA. The regular interest rate is 0.30%, but they are currently offering a promotional rate of 4.50% for the first 5 months when you sign up by November 30, 2026, and you could also earn up to $250 in cash back. Tangerine is also an accredited institution, so the CDIC covers eligible funds of up to $100,000.

There are no monthly fees or minimum deposit amounts with this account. They also have a savings calculator on their website that shows you how much you need to save to reach your goals. Like many financial institutions, they offer other financial services, such as credit cards, registered accounts, and more. 

Alterna Bank HISA

Alterna Bank offers a high-interest savings account to account holders with very competitive rates. They also offer:

• Free e-transfers
• Free unlimited transactions
• High interest rates on every dollar
• No minimum balance requirement

The interest rate for this account is 1.25%, but it’s also not the only account that Alterna Bank offers. They have all sorts of financial products, including:

• No-fee e-chequing accounts
• No-fee e-TFSA accounts
• No-fee e-RRSP accounts

They have online banking and a mobile app available 24/7 so you can complete your banking needs. This is essential since they are a 100% online bank. This also allows them to offer mobile cheque deposits. Overdrafts are available for a fee of $2.50 per month and at an annual percentage rate of 19.99%. Also, eligible funds of up to $100,000 are covered by the CDIC because the institution is accredited.

RBC HISA

RBC offers the RBC high-interest e-savings account. New clients can get a promotional interest rate of 4.70% for the first 3 months. There is no minimum balance requirement, free 24/7 account transfers, interest earned on every dollar and access to MyAdvisor, where you can see all of your accounts and investments in one place.

This isn’t the only account that RBC offers, though. They also have the RBC Day-to-Day Savings Account, RBC Advantage Banking Accounts, and many more.  

Scotiabank HISA

Scotiabank’s high-interest savings option is the Scotia High Interest Savings Account, which has everything you need. There are no monthly account fees, and if you are eligible, you can earn up to 5% interest for your first 90 days. Note that balances under $10,000 earn no regular interest.

This account is best suited to someone who doesn’t want to make debit transactions directly out of the account. That said, you can transfer to any of your other Scotiabank accounts at any time with no fee. You do need to keep in mind that the promotional interest rate is just that, a promotion. After the promotional period ends, you will automatically revert to the posted interest rate. However, by having a chequing account with Scotiabank, you can get a small boost to the interest rate on your package. 

CIBC HISA

The CIBC High-Interest Savings account is called the CIBC eAdvantage Savings Account. Currently, they’re offering a promotional rate of 4.90% for a limited time. That said, here are the other specifics associated with this account:

• Earn interest on every dollar
• Get a smart interest bonus rate on top of your regular interest rate. This happens when you save $200 or more in one month.
• Set up autosave
• Earn regular interest of 0.55%
• No monthly fees
• $5 transaction fees

The CIBC website also has a savings calculator to help you figure out how much you need to put away per month to reach your goals. 

BMO HISA

BMO offers several high-interest accounts, but the one with the most benefits is the BMO Savings Amplifier Account. It includes:

• Unlimited self-serve transfers to your other accounts
• No monthly fees
• No minimum balance requirements
• 0.45% base interest
• Promotional interest rate of 5% for 4 months

They also have an account called the BMO Savings Builder Account. This one includes:

• No monthly fees
• A base rate of 0.15%
• 0.95% interest when you save at least $200 per month
• 1 free monthly transfer to another BMO account 

TD HISA

When you open a new TD Growth Savings Account, you can earn a 4% bonus rate for 90 days. To qualify, you must open it within 30 days of opening a new eligible TD chequing account (by March 3, 2027) and deposit funds. The bonus rate applies to balances up to $1,000,000. 

EQ Bank Personal Account

EQ Bank Personal Account isn’t a traditional high-interest savings account. It’s a combination of a chequing account and a savings account. It offers unlimited transactions and no monthly fees, and you can earn 2.75% on every dollar in your account when you set up direct deposits (1.00% without direct deposits). Only a few accounts in Canada operate this way. 

The great thing about this hybrid account approach is that you can do all your banking from a single account. That said, this type of account isn’t for everyone. Some people prefer to keep all their accounts separate to better control their spending. 

The Current Bank Account Offers and Which Is the Best

It depends on what you are looking for in a bank account. All of these different banks have great offers. It depends on what sort of bank account you are looking for and whether you meet the requirements to receive the promotional offer.

If you are an avid collector of PC points (which are mainly used for groceries), the PC Money Account may be the best new bank account offer for you. If you want to stick with one of the Big Six banks, there are plenty of options. There are even offerings from smaller financial institutions available solely online. No matter which one you choose, you can’t go wrong with a little extra cash.

The Difference Between a Chequing Account and a High-Interest Savings Account

Even though both of these are bank accounts, they operate very differently. They are two entirely separate accounts made for very different things. Chequing accounts are designed for everyday banking. They allow you to spend money, pay bills, and transfer money in and out of your account. They also allow for direct deposits from your employment and pension sources, as well as any other payroll deposits. 

Savings accounts, such as high-interest savings accounts, work much differently. These accounts are not meant for spending. Most have no monthly fees, but some charge fees for certain withdrawals or transactions. This is because they’re designed to hold your money and build interest. For most of these accounts, interest is earned daily on your account’s closing balance and paid monthly. 

What Type of Bank Account Should You Open?

When it comes to which type of account to open, it depends on your needs. If you’re looking to save money, opening a new eligible chequing account wouldn’t be the best option. This is the same as opening a new eligible savings account wouldn’t be the best option if you’re looking for a spending account, even if it is part of the best bank account promo offers Canada has to offer. 

Are All Bank Offers Cash Rewards?

In short, the answer is no. That said, many banks offer a minimum cash reward for opening a new account because it is most attractive to new customers. There are very few steps required to earn the funds, and most of them are things they would need to do anyway when setting up a new account. 

While physical items can also be enticing to new customers, many people need cash more. This has especially been true in the last few years. This is why you’ll notice more and more cash offers appearing, especially for accounts that are meant for online or mobile banking. 

Do You Need to Pass a Credit Check to Open a Promotional Account?

Typically, whether you’re opening a personal account, a joint account, or even a HISA, a credit check is not required to qualify. That said, banks will typically run a soft credit check to verify your identity, but credit approval is not required to open the account. The bank will likely continue to run soft credit checks, though, and if you’re ever looking for a personal loan, they can use this to approve you or not. approve you 

The most common type of account that requires credit approval is a credit union account. Many credit unions will run a hard credit check on you. Even though you don’t have to have a good credit score to get approved, there’s usually a minimum score they like you to have. If you don’t meet this minimum, you can still likely get an account; there just may be some restrictions. 

What is the Easiest Bank Bonus to Qualify For?

One of the easiest bank bonuses to qualify for in Canada is Simplii Financial. This is because the direct deposit requirement is only $100 (kept active for 4 months) and the account has no monthly fees. If you qualify, you get $350 cash as long as you open the account by January 31, 2027. 

Are Existing Customers Eligible for New Account Bonuses?

For most new bank account bonuses, being a new customer is an eligibility requirement. This means that if you already hold an active chequing account, savings account, or even a credit card or mortgage with the bank, then you aren’t eligible for the offer. 

If you already have a bank account, you might instead qualify for targeted offers. These are different from the public bonuses and will differ depending on the account you sign up for. 

How Long You Need to Hold an Account to Keep the Bonus

In most cases, major banks require you to hold your bank account for a full year to keep your bonuses. If you close the account early, the bank will typically have the right to deduct the full cash bonus from your account. 

Are Bank Account Bonuses Taxable?

Generally, bank account bonuses are taxable under CRA rules. However, if the funds go into a tax-sheltered account, they will be treated like regular funds in tax accounts. Some of these popular accounts are Tax-Free Savings Accounts, Registered Retirement Savings Plans, and First Home Savings Accounts. 

Qualifying Direct Deposits

Qualifying direct deposits are generally recurring deposits from employers or government agencies. Some examples of qualifying deposits include:

• Payroll and employment income
• Income tax refunds
• Canada Child Benefit
• Canada Groceries and Essentials Benefit
• Canada Workers Benefit
• Old Age Security
• Canada Pension Plan
• Employment Insurance Benefits
• Veterans Benefits
• Provincial and territorial benefits
• Pensions
• Retirement income

Claiming Multiple Bank Bonuses

Yes, you can claim multiple bank offers. That said, you’re limited to one offer per institution. This is because you must be a new customer and have never held a bank account there before. You must also complete all of the qualifying requirements for each bank account to receive your bonus. 

Best Student Bank Account Offers

In Canada, many federally regulated financial institutions offer new customer accounts for both primary and student chequing. These welcome offers give you a break on bank fees, and even annual fee rebates on eligible credit cards. In terms of student welcome offers, some are better than others. 

Bank	Monthly Fees	Transactions	Perks
CIBC Smart for Students	$0	Unlimited everyday transactions	$125 cash bonus, free Skip+ membership, free SPC+ membership, Journie gas rewards savings
RBC Advantage Banking for Students	$0	Unlimited	Earn Avion points on purchases, annual fee rebate on eligible credit cards, and Petro-Canada gas savings
Scotiabank Preferred Package for Students and Youth	$0	Unlimited	Earn Scene+ on everyday purchases, free Scotia iTrade trades, and Shell gas savings.
TD Student Chequing Account	$0	Unlimited	Credit card savings and savings rate bonuses.

Best Newcomer Bank Account Offers

When looking for chequing and savings accounts as a newcomer to Canada, it’s a good idea to look for newcomer bank account offers. Whether you go with the Big Six banks or not, you get CDIC Protection (Canada Deposit Insurance Corporation) as well as promos for new deposits and discounts on fund transfers, NSF fees and overdraft fees. However, to qualify, you must sign up before the offer ends. 

These are just a few of those currently available.

Bank	Value	Perks	Credit Card
BMO New Start Program	$2,600	2 years of no monthly plan fees, 12-month Walmart+ membership, and unlimited transactions	Welcome bonus with the BMO Eclipse Rise Visa
CIBC Smart Account for Newcomers	Not specified	No annual fee for up to 24 months, unlimited transactions, promotional cash offers	Dividend or Aventura Visa cards
Scotiabank StartRight Program	$2,300-$2,430	No monthly fees for the first year, $0 for international money transfers and up to 50 free Scotia iTrades	Scotiabank Passport Visa Infinite and more with welcome bonuses
RBC Newcomer Advantage	Not specified	No monthly fees for a year, $0 international money transfers, and multilingual support.	Credit limits up to $15,000

Best Credit Union Account Promotions

Traditional bank accounts aren’t the only ones that offer promotions. You can also get promotions with other bank accounts, such as credit unions. 

Account	Value	Details
Coast Capital Unlimited Chequing Account	$600	$400 cash bonus with a recurring direct deposit for 90 days, plus $100 or $200 with a new eligible credit card after spending $1,000 in the first 90 days. Offer ends November 30, 2026
Vancity	$500	$150 for completing 10 everyday transactions, $250 when you set up 2 direct deposits and $100 when you open a HISA and fund it with a minimum of $250 within 90 days
Steinbach Credit Union	$300	$300 when you set up a qualifying direct deposit to your chequing account, 4.60% for 4 months on the Daily Growth Savings Account

What Are the Monthly Fees After a Promotion Ends?

After the promotional period ends, you will have to pay the standard monthly fee on the account. You will also be downgraded to the regular posted interest rate. You can avoid these fees by keeping the minimum balance in your chequing account at all times. 

Downsides of Claiming Multiple Bank Account Offers

While claiming multiple bank account offers may seem like a great idea, there are unfortunately some downsides. For starters, all bank promotions come with holding periods. This means that it can take a long time to actually receive the offer amount. 

Having to keep the minimum balance requirements can mean losing out on interest payments from other accounts. It can also tie up your funds, making it difficult to obtain other bank account offers. 

Spreading your cash so thin can also lead to overdraft and NSF fees. Having bills from different accounts can make it much more difficult to keep track of which bills come from which account.