16 best new bank account offers in Canada for November 2026

Looking for the best bank promotions in Canada? We’ve analyzed 100+ accounts from more than 20 Canadian financial institutions to curate this definitive list of the best new bank account offers for November 2026.

We’ve been tracking every major update in the banking promo space for years, seeing offers like cash bonuses, free stuff (like free Apple products), gift cards and bonus interest rates. Right now, banks are offering some of the highest new account offers we’ve ever seen—from combined cash bonuses of $1,275 and high-interest savings rate bonuses of 4.5% or more.

Check out the full list of the best new account offers below. Our editorial team has vetted and analyzed these offers to make sure they’re legit and up to date, so you can browse with confidence.

Best chequing account offers for November 2026 in Canada

Bank	Account	Bonus offer
	BMO Performance Chequing Account	Earn up to $1,100
Exclusive + Get a $175 digital Visa Card when you open a BMO Performance Chequing Account through Finder as a first-time customer—stack with BMO's offer for a total $1,275 bonus. Become a Finder Member in seconds for free to claim your reward. Keep the account open until the reward is paid. Offer ends November 30, 2026. T&Cs apply. Get offer
	Scotiabank Preferred Package	Earn up to $1,000
Exclusive + Get a $100 digital Visa Card when you open a Scotiabank Preferred Package online through Finder. Become a Finder Member in seconds for free to claim your reward. Offer ends November 30, 2026. T&Cs apply. Get offer
	Neo Everyday Account	Get an $80 digital Visa card from Finder
Exclusive + Get an $80 digital Visa card when you open a Neo Everyday account through Finder as a first-time customer. Become a Finder Member in seconds for free to claim your reward. Offer ends December 30, 2026. T&Cs apply. Get offer
	Coast Capital Unlimited Chequing Account	Earn up to $600
	KOHO Core Plan	Get $40 with promo code FINDER4026
	EQ Bank Personal Account	Earn 3.00% interest
	Coast Capital Free Chequing, Free Debit, and More Account	Earn up to $350
	Simplii No Fee Chequing Account	Earn $350
	Tangerine No-Fee Daily Chequing Account	Earn $250
	TD All-Inclusive Banking Plan	Earn $1,000
	CIBC Smart Account	Earn up to $850
	PC Money Account	Earn 150,000 PC Optimum points

Best savings account promotions for November 2026 in Canada

Bank	Account	Bonus offer
	BMO Savings Amplifier Account	Up to 5% for 4 months
	EQ Notice Savings Account	2.50% - 3.00%
	Tangerine Savings Account	Up to 4.5% for 5 months
	Simplii High Interest Savings Account	5.00% for 5 months
	Scotia High Interest Savings Account	Up to 5% for 3 months

Our expert says

"As the growth manager for banking and investments at Finder, I’ve been analyzing banking offer trends for years. Recently, banks have been offering historically high new account offers, with some in the latest promo cycles well exceeding the $800 mark.

That trend is linked to the rise of fee-free digital banks in Canada, which have pushed bigger banks to offer more competitive deals. That said, these higher offers have come with increasingly complex qualification processes—a strategy banks use to not only get your business but also keep it for the long term.

So instead of simply opening an account and making a deposit, many banks now also require you to open multiple accounts (chequing + savings + a credit card) to qualify for the full bonus.

So my advice for potential bank customers in 2026 is to look past the high advertised offer. Look at an offer’s effective value— the value that you can reasonably get from a promotion given your financial setup and banking habits. A lower offer on a no-fee account might beat a high bonus on multiple fee-based accounts you won’t use."

Chelsey Hurst

Growth Manager (Banking & Investments)

Which banks have the best new account offers?

The following banks are offering some of the best new account offers now:

• BMO: Earn up to a $1,100 cash bonus. Plus, get a Walmart+ membership for up to 12 months. Plus, get a Finder exclusive reward offer of a $175 digital Visa card.
• Coast Capital: Earn up to a $600 cash bonus when you open a Coast Capital Unlimited Chequing Account, and open and spend at least $1,000 on a new eligible credit card. Offer ends November 30, 2026.
• TD: Get up to $850 when you open a TD Unlimited Chequing Account. Offer ends March 3, 2027
• Scotiabank: Earn up to $1,000 when you bundle a Preferred Package, savings account, and credit card. Valid until March 4, 2027. Plus, get a Finder exclusive reward offer of a $100 digital Visa card.
• Simplii Financial: Earn $350 when you become a new client and set up a direct deposit of at least $100 for 4 straight months. Offer ends January 31, 2027.
  
• Tangerine: Earn up to $250 when you open a No-Fee Daily Chequing Account and move your pay. Valid until April 30, 2027. Open a Tangerine Savings Account to earn 4.50% for the first 5 months (on up to $1,000,000 in deposits) when you sign up by November 30, 2026. Thereafter, you'll earn 0.30%.

What’s the easiest Canadian bank to get a sign-up bonus from?

The easiest banks to get a sign-up bonus from are digital banks and fintechs like EQ Bank, KOHO and Tangerine. Digital banks offer promotions with a simple qualification process, where you typically just need to 1) sign up for a new account and 2) set up direct deposit for your paycheque. The whole process can be set up online in minutes, and you can often get the bonus payout within two to three months.

What new account promos do Canadian banks typically offer?

Banks in Canada typically offer three types of new account offers:

• Cash bonuses: Banks often offer cash bonuses from as low as $150 from digital banks and up to around $1,000 from traditional banks for opening a standard chequing account (and completing qualifying actions). Cash bonus offers for student chequing accounts from both types of banks typically land at around $150.
• Bonus interest rates: For savings accounts, banks will typically offer bonus interest rates as low as 2.5% up to 5% or more for around 3 to 5 months.
• Free items: This type of new account offer is much rarer in Canada, but banks will sometimes offer free gifts for opening an account. One notable example of this is RBC’s free iPad or free Apple Watch promos, which it has offered several times throughout the past few years.

How to qualify for a new bank account offer

To qualify for any bank promotion, be prepared to show a valid, government-issued photo ID and proof that you live in Canada. You’ll also be asked to submit your name and contact information. Be aware that bank promos aren’t available for accounts you already have.

Some specialized offers will also sometimes require you to complete specific actions, like the following:

• Bundle your account with other products & services (i.e. a savings account or credit card)
• Get friends or family to sign up using your referral code
• Show proof of academic enrollment (for student bank account offers)

Requirements for the best new chequing account offers in Canada

Some bank promotions in Canada offer a bonus just for opening an account and making a deposit. Other new bank offers require you to perform several actions to land a special deal—actions like setting up direct deposit or holding funds in the account for a certain amount of time.

So, in order to actually receive the bank bonus, you need to ensure you complete all of the requirements in the right order of steps. Below, we’ve outlined the specific requirements for each of the best new chequing account offers featured in the comparison table above, starting with BMO and Scotiabank:

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BMO Performance Chequing Account

8.7 Great BMO Performance Chequing Account

8.7 Great

$17.95 (can be waived)

Unlimited

$0

$175 Reward Finder Rewards: Join Finder then open a new BMO Performance Chequing Account online through Finder as a first-time customer and keep it open until January 29, 2027 to receive a $175 digital Visa gift card. Ends 30 Nov 2026. T&Cs apply. Earn up to a $1,100 cash bonus. Plus, get a Walmart+ membership for up to 12 months. Valid until March 1, 2027. T&Cs apply.

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Why we like it BMO consistently offers some of the highest new account promotions of any bank in Canada. Beyond the offer, signing up for this account will give you access to unlimited transactions and e-transfers plus annual fee rebates on select BMO credit cards. Offer requirements: Earn up to $1,100 Earn $800 when you open and fund a new BMO Performance Chequing Account by March 1, 2027 and complete the qualifying tasks by April 30, 2027. The qualifying tasks are firstly to set up a recurring direct deposit of at least $500, then complete one of the following: 1) make two bill payments of $50 or more to two different payees through online or mobile banking, or 2) set up two pre-authorized debits of $50 or more from two different payees. You can then earn an additional $200 when you open a Savings Amplifier Account within 30 days, deposit a total of $10,000 or more for a total of 210 days (120 days to access the promo interest rate + an additional 90 days). You’ll then earn another $100 when you open and fund eligible Chequing and Savings accounts and apply and are approved for an Eligible Credit Card within 30 days of opening your BMO Performance Chequing Account. Plus, pay no annual fee in your first year. T&Cs apply. Plus, get a Walmart+ membership for up to 12 months when you open and fund a new BMO Performance Chequing Account by March 1, 2027, and sign up for or update your existing Walmart+ membership by April 30, 2027 by selecting Debit Mastercard as the payment option for the monthly transaction fee. *Terms apply. Pros & cons Pros Unlimited monthly transactions Interac e-Transfers $40 fee rebate on the BMO Mastercard annual fee BMO will reverse the first accidental fee charged to this account Up to 20 accounts can be included in the BMO Family Bundle Cons Monthly fee of $17.95 Fee for overdraft protection

Scotiabank Preferred Package

8.6 Great Scotiabank Preferred Package

8.6 Great

$16.95 (can be waived)

Unlimited

$0

$100 Reward Finder Rewards: Join Finder then open a new Scotiabank Preferred Package online through Finder as a first-time customer and keep it open until January 15th, 2027 to receive a $100 digital Visa gift card. Ends 30 Nov 2026. T&Cs apply. Earn up to $1,000 when you bundle a Preferred Package, savings account, and credit card. Valid until March 4, 2027. T&Cs apply.

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Why we like it Beyond its competitive new account promo, the Scotiabank Preferred Package offers unlimited transactions, free Interac e-Transfers and access to over 3,500 ATMs through the Global ATM Alliance. You'll also get an annual fee rebate on select Scotiabank credit cards. Offer requirements: Earn up to a $1,000 bonus. Earn $700 by opening a Scotiabank Preferred Package account by March 4, 2027 and completing the following qualifying actions. You must first set up and receive one eligible automated direct deposit (like a payroll or pension) within 60 days of opening the account, which must be ongoing for at least four consecutive months. Then, complete one of the following actions within 60 days of opening your new account: (1) Set up and make one eligible pre-authorized transaction (e.g. mortgage, insurance, or rent) of at least $50, that recurs for at least four months in a row. (2) Make one eligible bill payment (like a phone or utility bill) of at least $50 through Scotia’s online or mobile banking. (3) Make five eligible Visa Debit purchases using your ScotiaCard. To earn an additional $200, you must complete all requirements to earn the $700 bonus, and then within 60 days of opening your new Preferred Package account, open your first eligible RRSP, TFSA or FHSA with Scotiabank. Then to earn up to $100 more, you must complete all requirements for the $700 bonus and then apply and be approved for an eligible credit card within 60 days of opening your chequing account. Then, make at least one qualifying purchase within 60 days of opening your eligible credit card. Eligible credit cards include the Scotiabank Scene+ Visa Card, the Scotiabank Passport Visa Infinite + card, the Scotiabank Gold American Express card and the Scotia Momentum Visa Infinite + card. Pros & cons Pros Earn up to $1,000 Get $0 transactions $0 Interac eTransfers Access to Scotiabank's Global ATM Alliance Earn SCENE+ points on debit purchases Annual fee rebate on select credit cards Cons Standard $16.95 monthly account fee applies Non-Scotiabank ATM fees may apply

Coast Capital Unlimited Chequing Account

8 Great Coast Capital Unlimited Chequing Account

8 Great

$8.50 (can be waived)

Unlimited

$0

Earn up to a $600 cash bonus when you open and use a Coast Capital Unlimited Chequing Account. Offer expires November 30, 2026. T&Cs apply.

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Why we like it With a competitive welcome offer, the Coast Capital Unlimited Chequing Account offers free transactions, e-Transfers and free withdrawals at 3,000+ of THE EXCHANGE Network ATMs across Canada. Plus, you can get the monthly fee fully waived if you meet the minimum balance or age requirements. Offer requirements: Earn up to $600. Earn up to a $600 cash bonus when you open the Coast Capital Unlimited Chequing Account and complete qualifying actions. Offer expires November 30, 2026. To earn a $400 bonus open a new personal membership, and within 60 days of receiving confirmation that your new personal membership has been approved, you must open a Coast Capital Unlimited Chequing Account and then set up and receive a recurring direct deposit into the account. The direct deposit must originate from a single source and continue for at least once a month for a minimum of 90 consecutive days. Eligible direct deposits include payroll, pension and certain government payments. To receive an additional bonus payout, you must open and spend at least $1,000 on a new eligible credit card within 90 days of activating the card to earn a one-time statement credit of: $100 when opening a Classic Mastercard, Cash Back Mastercard, or Centra Gold Mastercard; or $200 when opening a World Mastercard or World Elite Mastercard. T&Cs apply. Pros & cons Pros Earn up to a $600 welcome bonus Get the monthly fee waived No transaction fees No Interac e-Transfer fees Cons $8.50 monthly fee Out-of-network and international ATM fees Not available in Quebec

KOHO Core Plan

9.2 Excellent KOHO Core Plan Exclusive

9.2 Excellent

$0

Unlimited

$0

Finder exclusive:New KOHO Core users can get $40 when they sign up with promo code FINDER4026 and make a first purchase of $20 or more. T&Cs apply.

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Why we like it The KOHO Core Plan is KOHO's newest plan and its first offering a flat $0 monthly fee. It gives you both spending and saving power in one account with a high ongoing interest rate of 2%. Earn 2% interest on your balance, and 1% cash back on groceries, transportation, food, and drink purchases. Offer requirements: New KOHO Core users will get a $40 sign-up bonus when they sign up with promo code FINDER4026, verify their identity and make a first purchase of $20 or more from their KOHO account. The $20 must be spent in one single purchase, and the purchase cannot be split into smaller transactions. KOHO-to-KOHO transfers and e-Transfers don’t count as qualifying first purchases. T&Cs apply. Pros & cons Pros High interest rate of 2% No monthly fee $0 Interac e-Transfers Get unlimited transactions Get a prepaid card to spend from the account Earn cashback on purchases No minimum balance required CDIC balance coverage Cons No debit card, so you'll have to load money onto a prepaid card before spending No in-person support available

EQ Bank Personal Account

9.4 Excellent EQ Bank Personal Account

9.4 Excellent

$0

Unlimited

$0

Earn 3.00% interest on your money with qualifying direct deposits of $2,000/month, and 1.50% otherwise. T&Cs apply.

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Why we like it As a hybrid savings and chequing account, the EQ Bank Personal Account has a lot to offer beyond its promo offer. This interest-earning chequing account pays up to 3% interest and comes with unlimited free transactions and e-transfers. It also lets you earn cashback on your purchases. Offer requirements: Earn 3.00% interest. To receive 3.00% interest, you'll need to have at least $2,000/month of your pay directly deposited into a Personal Account or Joint Account. Conditions apply. Otherwise, you'll earn 1.50% on your balance. Pros & cons Pros $0 account fee Earn up to 3% interest on your balance Get Unlimited transactions Get $0 Interac eTransfers EQ Bank will refund withdrawal fees for using any ATM across Canada No minimum balance requirement Cons No physical branches for in-person service Some standard banking features not available such as overdraft protection and the option to have paper statements

Coast Capital Free Chequing, Free Debit, and More Account

7.7 Great Coast Capital Free Chequing, Free Debit, and More Account

7.7 Great

$0

Unlimited

$1.50

Earn up to a $350 cash bonus when you open a Coast Capital Free Chequing, Free Debit, and More Account, and open and spend at least $1,000 on a new eligible credit card. T&Cs apply.

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Why we like it The Coast Capital Free Chequing, Free Debit, and More Account is Coast Capital's no-fee chequing account and offers one of the highest total new account offers of any no-fee banking options in Canada. The account comes with unlimited transactions, no minimum balance requirement, and free withdrawals at thousands of THE EXCHANGE Network ATMs across Canada. Offer requirements: Earn up to $350. Earn up to a $350 cash bonus when you open the Coast Capital Free Chequing, Free Debit, and More Account by November 30, 2026, and complete qualifying actions. You can earn your first $150 by opening a new personal membership. Then, within 60 days of receiving confirmation that your personal membership has been approved, you should open a Coast Capital Free Chequing, Free Debit, and More Account and set up to receive a recurring direct deposit at least once a month for a minimum of 90 consecutive days. The direct deposit must originate from a single source. Eligible direct deposits include payroll, pension and select government payments. To receive an additional bonus payout, you must open a new eligible credit card and spend at least $1,000 on it within 90 days of activating the card to earn a one-time statement credit of either $100 (when opening a Classic Mastercard, Cash Back Mastercard, or Centra Gold Mastercard) or $200 (when opening a World Mastercard or World Elite Mastercard). T&Cs apply. Pros & cons Pros No monthly fee Unlimited free transactions No minimum balance required Mobile cheque deposits through Coast Capital's mobile banking app Withdraw money free of charge from 4,000+ ATMs across Canada Cons $1.50 per Interac e-Transfers Not available to Québec residents

Tangerine No-Fee Daily Chequing Account

8.5 Great Tangerine No-Fee Daily Chequing Account

8.5 Great

$0

Unlimited

$0

Earn up to $250 when you open a No-Fee Daily Chequing Account and move your pay. Valid until April 30, 2027. T&Cs apply.

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Why we like it The Tangerine No-Fee Daily Chequing Account promo is one of the best new account offers from a digital bank currently available in Canada. It's also easy to qualify for the offer. Plus, you'll be able to benefit from this account's other perks like its $0 monthly fee, unlimited transactions and free Interac e-Transfers. Offer requirements: Earn up to $250. Open a No-Fee Daily Chequing Account and switch your payroll deposits to your new Tangerine Chequing Account to receive $250. Eligible payroll direct deposits need to total at least $200 per month. Your first deposit must be made within 60 days of opening the account and must be continuous for at least two months in a row. Valid until April 30, 2027. Pros & cons Pros Earn up to 0.1% interest on your balance Unlimited transactions Free Interac e-Transfers Free cheques Mobile cheque deposits Standard Visa Debit card Access to Scotiabank's Global ATM Alliance Cons Charges for certain ATMs No in-person service Only one free replacement card

Simplii No Fee Chequing Account

8.5 Great Simplii No Fee Chequing Account

8.5 Great

$0

Unlimited

$0

Earn $350 when you become a new client and set up a direct deposit of at least $100 for 4 straight months. Offer ends January 31, 2027. T&Cs apply.

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Why we like it Simplii tends to offer some of the highest new account bonuses on the market among digital banks. And as with any digital bank, it offers a no-fee structure that you can continue to benefit from long after you've cashed in on the bonus. This Simplii No Fee Chequing Account comes standard with a $0 monthly fee and Unlimited transactions and Interac e-Transfers. Offer requirements: Earn a welcome bonus of $350: Open a new Simplii No Fee Chequing Account, and then within 150 days from when the new account is opened, set up one or more eligible recurring direct deposits totaling at least $100 of deposits per month credited to the account for at least 4 consecutive months within that 150-day time period. Examples of common recurring direct deposits include: payroll, pension direct deposits, old age security, disability payments and governmental payroll deposits. The cash reward will be directly deposited into the account within 3 business days of all offer requirements being fulfilled. Offer ends January 31, 2027. Pros & cons Pros No monthly account fee Earn up to a $350 welcome bonus Get unlimited free transactions and e-Transfers Earn 0.01% interest on your balance No minimum deposit requirements Earn a referral bonus Cons Simplii is an online-only provider, so there's no in-person service You can only earn the welcome bonus if you're a new Simplii customer Residents of Quebec cannot open a Simplii account

TD All-Inclusive Banking Plan

8.4 Great TD All-Inclusive Banking Plan

8.4 Great

$30.95 (can be waived)

Unlimited

free, unlimited

Get up to $1,000 when you open a TD All-Inclusive Banking Plan. Offer ends March 3, 2027. T&Cs apply.

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Why we like it The TD All-Inclusive Banking Plan is TD's premium-tier chequing account, and as such it offers one of the highest new account offers in Canada. It comes with standard features for everyday banking—including unlimited transactions and Interac e-Transfers, plus an annual fee rebate of up to $139 for select TD credit cards. But all of the premium perks come at the cost of a $30.95 monthly fee unless you keep $6,000 in your account at all times to waive it. Offer requirements: Get up to $1,000 when you open a TD All-Inclusive Banking Plan by March 3, 2027, and complete the qualifying actions. Firstly, to receive $850, you must receive qualifying recurring direct deposit totaling at least $1,500 within a 30-day period, which must be set up within 60 days of opening the account. You then must complete one of the following actions within 60 days of opening the account: 1) set up a recurring Pre-Authorized Debit Payment, or 2) make an online bill payment of at least $50 each. You can then earn an additional $150 when you open a new eligible Savings Account within 30 days of opening your new All-Inclusive Banking Plan account and set up a pre-authorized transfer service to your savings within 30 days of opening the savings account. You must then apply and be approved for a new eligible TD Credit Card within 30 days of opening the chequing account, and keep the credit card open, active and in good standing for at least 60 days from the date of opening the card. T&Cs apply. Pros & cons Pros First-year fee rebate on select credit cards Premium perks including a small safety deposit box, money orders and personalized cheques for free Unlimited transactions and e-Transfers Earn 0.5 Bonus Stars for every $1 spent on Eligible Purchases at participating Starbucks stores Cons It charges a high monthly fee if you don't meet minimum balance requirements As a standard chequing account, it pays no interest on your balance

CIBC Smart Account

7.9 Great CIBC Smart Account

7.9 Great

$16.95 (can be waived)

Unlimited

$0

Earn up to $850 when you open a CIBC Smart Account with an eligible credit card and complete two qualifying tasks. T&Cs apply.

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Why we like it The CIBC Smart Account offers flexible banking with three tiers that reward you for keeping higher balances. There's also no monthly account fee for youth under 25, students, seniors, newcomers, foreign workers, RDSP beneficiaries and recipients of the Disability Tax Credit. Offer requirements: Earn up to $850 when you open your first CIBC Smart Account and complete the qualifying actions. T&Cs apply. To qualify, you must first set up at least one recurring monthly direct deposit of $500 or more (from your employer, government or pension) within 2 months of opening your account. Earn $500 when you complete one of the following actions within 60 days of opening the Smart Account, and all within the same calendar month: 1) Set up 2 recurring pre-authorized debits, 2) make 2 online bill payments of $50 or more each or 3) make 5 eligible Visa Debit purchases from the account. You can then earn an additional $100 when you apply and get approved for an eligible CIBC credit card within one month of opening your Smart Account. Plus, earn up to $250 more when you open the CIBC Dividend Visa Infinite Card (which offers 10% cash back of up to $200 on net purchases up to $2,000 in the first 4 statements, and a $50 cash back bonus when you set up your first pre-authorized payment within the first 4 monthly statements). Pros & cons Pros Unlimited transactions across all tiers Free Interac e-Transfers Credit card annual fee rebates The monthly fee is waivable Balance tiers are based on the combined average monthly amount across all eligible CIBC accounts Cons Steep monthly balance requirements for Tier 2 and 3 High monthly fee for Tier 1 if you can't maintain a daily balance of $4,000

PC Money Account

8.5 Great PC Money Account

8.5 Great

$0

Unlimited

$0

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Why we like it Functioning as both a spending and saving account, the PC Money Account has been revamped to offer one of the highest ongoing interest rates in Canada. With no monthly fee and unlimited free transactions, you can earn PC Optimum points every time you spend, and earn a high interest rate of 2.2% on your savings. Offer requirements: New customers can earn 150,000 bonus PC Optimum points—equal to $150—when you open a PC Money Account. To qualify, you'll need to deposit a total of at least $1,500 in a calendar month to your PC Money Account using automatic payroll or pension direct deposits within 60 days of opening the account. Then, in each of the following 2 calendar months, you must deposit at least $1,500 to your account using automatic payroll or pension direct deposits. In total, there must be a minimum of $1,500 deposited for 3 consecutive months to meet the offer requirements. Pros & cons Pros No monthly fees Earn 2.2% interest on your account balance Unlimited free transactions and Interac e-Transfers No minimum balance requirements Cons No way to deposit cash or cheques at ATMs Mobile cheque deposit is not available Can't order cheques

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Check out our full guide to the best chequing accounts in Canada

Requirements for the best new savings account offers

If you’re looking to qualify for the best savings account offers instead, it’s important to make sure you complete all of the requirements necessary to activate the bonus interest. Below, we’ve outlined the qualification requirements for each of the best new savings account offers we listed in the comparison table above:

EQ Bank Notice Savings Account

9.2 Excellent EQ Bank Notice Savings Account

9.2 Excellent

N/A

Up to 3.00%

$0

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Why we like it The EQ Bank Notice Savings Account offers a high interest rate of up to 3%, no account fees, no minimum balance requirements and CDIC protection up to $100,000. That said, because it requires a withdrawal notice period, it's not ideal as an emergency fund if you need quick access to the funds. Offer requirements: Sign up for the EQ Bank Notice Savings Account. Choose to access your withdrawal funds after 10 days for a 2.5% savings rate or 30 days for a 3.00% interest rate. Pros & cons Pros $0 account fee No minimum balance required to earn interest $0 transactions Earn 2.50% - 3.00% interest on your balance CDIC protection up to $100,000 Cons Cannot withdraw funds before at least 10 days No physical branches for in-person service Some standard banking features aren't available, like overdraft protection, Interac e-Transfers, use of ATMs and the option to have paper statements

BMO Savings Amplifier Account

8.7 Great BMO Savings Amplifier Account

8.7 Great

5.00% for 4 months

0.45%

$0

Earn 5% interest when you open both a BMO Savings Amplifier Account and a BMO Performance, Premium, Plus or Practical Chequing Account. Plus, earn up to a $1,100 opening bonus with the chequing account. Valid until November 30, 2026. T&Cs apply.

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Why we like it The BMO Savings Amplifier Account offers one of the highest and longest promotional interest rates out of all Big Bank savings accounts in Canada. It's also worth noting that the ongoing rate after the promotional period ends is also comparatively competitive. The account comes with a $0 monthly fee and no minimum balance requirements. Offer requirements: Earn up to a 5.00% promotional interest rate on balances deposited to a Savings Amplifier Account for up to 120 days from opening the account. To qualify for the promotional rate, you must 1) open a new Primary Chequing Account with the Blue Rewards Plan, Performance Plan, Premium Plan, Practical Plan or Plus Plan and then 2) open a new Savings Amplifier Account within 30 days of opening the chequing account and 3) make a deposit(s) into the Savings Amplifier Account. The total promotional rate is calculated based on the savings account's base rate or 0.450% + the promotional rate boost of 4.550%. T&Cs apply. Pros & cons Pros Funds transfer (Digital and ATM) fee $0 Full in-person and nationwide service available Free transfers between BMO accounts Get access to more than 3,300 no fee ATMs in Canada The account balance is insured for up to $100,000 Cons Once the 4 months promotional period ends, the rate drops $5 withdrawal fee Funds transfer (Branch and Virtual Connect associate) fee $5 Pre-Authorized Debit fee $5

Tangerine Savings Account

8.2 Great Tangerine Savings Account

8.2 Great

4.50% for 5 months

0.30%

$0

Earn 4.50% interest for 5 months (on up to $1,000,000 in deposits) when you sign up by November 30, 2026. T&Cs apply.

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Why we like it Tangerine consistently offers one of the best new account savings rates of any bank, and often the highest promo rate of all digital banks. It's also common for Tangerine to offer interest rate boosts on a semi-ongoing basis to its current customers, so there's a good chance that you can still take advantage of higher rates after the promo period ends. Offer requirements: Open a Tangerine Savings Account to earn 4.50% for the first 5 months (on up to $1,000,000 in deposits) when you sign up by November 30, 2026. Thereafter, you'll earn 0.30%. Pros & cons Pros No monthly fees Earn an ongoing rate of 0.3% on your entire balance All everyday transactions are $0 Offers an Automatic Savings Program for making recurring deposits into your account No minimum balance requirements CDIC insured for $100,000 Cons Ongoing rate is not as competitive as other savings accounts No physical branches for in-person service

Simplii High Interest Savings Account

8.2 Great Simplii High Interest Savings Account

8.2 Great

5.00% for 5 months

0.30%

$0

Earn 5.00% interest for 5 months on up to $100,000 in savings. Offer ends January 31, 2027. T&Cs apply.

Go to siteView details Compare product selection Compare

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Why we like it The Simplii High Interest Savings Account offers a very high promo rate of 5% interest for 5 months, which is competitive among both Big Banks and digital banks. Once the promo period ends, you'll earn a tiered interest rate between 0.3% and 1.00% interest on your balance. Offer requirements: Sign up for the Simplii High Interest Savings Account. Earn 5.00% interest for 5 months on up to $100,000 in savings. Terms apply. Offer ends January 31, 2027. Pros & cons Pros $0 account fee $0 transactions Earn 5% interest for 5 months Earn an ongoing rate up to 1.00% No minimum balance requirements to start earning interest CDIC insured for up to $100,000 Cons No physical branches for in-person service Can get higher ongoing interest with other savings accounts Tiered interest rate structure offers low rates on smaller balances Not available in Quebec

Scotia High Interest Savings Account

8.6 Great Scotia High Interest Savings Account

8.6 Great

5.00% for 3 months

1.50%

$0

Receive a special welcome promotional interest rate of up to 5.00% for the first 3 months (90 days) when you open your first Scotia High Interest Savings Account. T&Cs apply.

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Why we like it The Scotia High Interest Savings Account is Scotiabank's newest savings account, which is designed to offer competitive ongoing interest rates on larger savings balances—so the higher your balance, the higher the interest rate. Balances between $0 and $10,000 will earn 0% interest. Balances above that will earn a standard interest rate of 1.5%–2.2%, plus a bonus rate boost to bring the total possible interest rate to 5.00% for 3 months, based on the total balance between all eligible Scotiabank savings accounts. Interest is calculated daily and paid monthly. Offer requirements: Earn up to 5% for the first 3 months when you open your first Scotia High Interest Savings Account. You must not currently have a MomentumPLUS Savings Account or a Scotia HISA or have held either account within the last 2 years. You'll earn the standard tiered interest rate (on balances of $10,000 or above), which is dependent on your total balance across all eligible Scotiabank accounts, and then earn an additional promotional interest rate boost of 2.80% for the first 90 days on your Scotia High Interest Savings Account. T&Cs apply. Pros & cons Pros $0 account fee Earn up to 5.00% interest on your deposits The account's higher rates are on par with digital bank offerings CDIC insured for up to $100,000 Cons Balances below $10,000 will earn 0% interest Unless you have a very high savings balance, you can find more competitive rates at other banks

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Check out our full guide to the best savings accounts in Canada

Which bank gives you money for opening an account with them?

The Canadian banks currently offering money for opening an account are:

• BMO: Earn up to $1,100 with the BMO Performance Chequing Account
• Scotiabank: Earn up to $1,000 with the Scotiabank Preferred Package
• Coast Capital: Get up to $600 with the Unlimited Chequing Account.
• TD Canada Trust: Earn up to $850 with the TD Unlimited Chequing Account
• Tangerine: Earn up to $250 with the Tangerine No-Fee Daily Chequing Account
• CIBC: Earn up to an $850 welcome bonus with the CIBC Smart Account
• Simplii: Get $350 welcome bonus with the Simplii No Fee Chequing Account

Note that these offer amounts usually come with multistep, multi-month qualification processes. Read the offer requirements above for any promo you’re interested in to see if it’s actually feasible for you to fulfill.

Summary of Big Bank new account offers

You can see a summary of new bank account offers and promotions currently available from Canada's Big 6 Banks below. Keep in mind that, although Big Banks tend to offer the highest sign-up offers, you'll typically get better ongoing rates and fees from digital banks. So compare various offers before signing up.

• BMO offers currently available

  ---

  BMO chequing account offers

  BMO chequing account	Monthly fee	Offer details
  BMO Performance Chequing Account	$17.95	Earn up to $1,100. Earn up to a $1,100 cash bonus with the BMO Performance Chequing Account. Plus, get a Walmart+ membership for up to 12 months. Valid until March 1, 2027. Get a $175 digital Visa card from Finder Become a Finder member, then open a new BMO Performance Chequing Account through Finder as a first-time customer and keep it open until January 29, 2027. Offer ends November 30, 2026.
  BMO Premium Plan Chequing Account	$30.95	Earn up to $1,100. Earn up to a $1,100 cash bonus with the BMO Premium Plan Chequing Account. Plus, get a Walmart+ membership for up to 12 months. Valid until March 1, 2027.
  BMO Practical Chequing Account	$4	Get a welcome bonus of up to $150. Earn up to a 5.00% promo interest rate when you open a new Practical Chequing Account and Savings Amplifier Account. Valid until March 1, 2027.
  BMO NewStart Program	$0	Earn up to a $1,100 welcome bonus and get a Walmart+ Delivery Pass subscription for up to 12 months. Valid until March 1, 2027. Plus, pay no monthly plan fees for 2 years.

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  BMO savings account offers

  BMO savings account	Monthly fee	Offer details
  BMO Savings Amplifier Account	$0	Earn 5% interest when you open both a BMO Savings Amplifier Account and a BMO Performance, Premium, Plus or Practical Chequing Account. Plus, earn up to a $1,100 opening bonus with the chequing account. Valid until November 30, 2026

• Scotiabank offers currently available

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  Scotiabank chequing account offers

  Scotiabank chequing account	Monthly fee	Offer details
  Scotiabank Ultimate Package	$30.95	Earn up to $1,000 when you bundle an Ultimate Package, savings account, and credit card. Valid until March 4, 2027.
  Scotiabank Preferred Package	$16.95	Earn up to $1,000 when you bundle a Preferred Package, savings account, and credit card. Valid until March 4, 2027. Get $100 from Finder Become a Finder member, then open a new Scotiabank Preferred Package online through Finder as a first-time customer to get a $100 digital Visa card from Finder + earn up to $1,000 in welcome bonuses from Scotiabank. Keep the account open until January 15th, 2027. Offer ends November 30, 2026.
  Scotiabank Preferred Package for Students and Youth	$0	Earn up to $175 as a welcome bonus when you open an account. Apply by February 28, 2027
  Scotiabank StartRight Program	$0	Get up to $2,300 in value in the first year. T&Cs apply.

  ---

  Scotiabank savings account offers

  Scotiabank savings account	Monthly fee	Offer details
  Scotia High Interest Savings Account	$0	Earn up to 5% for the first 3 months when you open your first Scotia High Interest Savings Account. T&Cs apply.

• RBC offers currently available

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  RBC chequing account offers

  RBC chequing account	Monthly fee	Offer details
  RBC Advantage Banking for Students	$0	Open a no-monthly-fee RBC Advantage Banking Account for Students and get a $150 cash bonus. T&Cs apply. Valid until May 31, 2027
  RBC Day to Day Banking Account	$4	Open an RBC Day to Day Banking account online and you could get $150. Plus, enjoy no monthly fee for a year. Valid until December 8, 2026.
  RBC Advantage Banking	$12.95	No monthly fee for one year for newcomers
  RBC Advantage Banking for Newcomers	$0	Get unlimited debit transactions, free e-Transfers, competitive exchange rates, credit card cashback bonuses, and no RBC fee on out-of-network ATMs in Canada.
  RBC VIP Banking Account	$30	Open an RBC VIP Banking Account and get up to $600. T&Cs apply. Valid until March 1, 2027
  RBC Signature No Limit Banking Account	$16.95	Open an RBC Signature No Limit Banking Account and get up to $600. T&Cs apply. Valid until March 1, 2027

  ---

  RBC savings account offers

  RBC savings account	Monthly fee	Offer details
  RBC High Interest eSavings Account	$0	Earn 4.70% interest for 3 months when you open your first RBC High Interest eSavings account.
  RBC Leo’s Young Savers Account	$0	Get $50 when you open an RBC Leo’s Young Savers Account for your child. Valid until May 31, 2027

• CIBC offers currently available

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  CIBC chequing account offers

  CIBC chequing account	Monthly fee	Offer details
  CIBC Smart Account	$16.95	Earn up to $850 when you open a CIBC Smart Account with an eligible credit card and complete two qualifying tasks.
  CIBC Smart for Students	$0	Get $125 cash and a free Skip+ membership.

  ---

  CIBC savings account offers

  CIBC savings account	Monthly fee	Offer details
  CIBC eAdvantage Savings Account	$0	Get a special 4.60% offer for 3 months when you open your first account.

• TD offers currently available

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  TD chequing account offers

  TD chequing account	Monthly fee	Offer details
  TD All-Inclusive Banking Plan	$30.95	Get up to $1,000 when you open a TD All-Inclusive Banking Plan. T&Cs apply. Offer ends March 3, 2027.
  TD Unlimited Chequing Account	$17.95	Get up to $850 when you open a TD Unlimited Chequing Account. T&Cs apply. Offer ends March 3, 2027
  TD Student Chequing Account	$0	Earn up to $850 in value with the TD Student Banking Package. Valid until March 3, 2027

  ---

  TD savings account offers

  TD savings account	Monthly fee	Offer details
  TD Every Day Savings Account	$0	Earn a 4% bonus interest rate for 90 days when you open a new TD Savings Account and make a new deposit. Valid until January 29, 2027.
  TD ePremium Savings Account	$0	Earn a 4% bonus interest rate for 90 days when you open a new TD Savings Account and make a new deposit. Valid until January 29, 2027.
  TD Growth Savings Account	$0	Earn a 4% bonus interest rate for 90 days when you open a new TD Growth Savings Account and make a new deposit. Valid until January 29, 2027.

• National Bank offers currently available

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  National Bank chequing account offers

  National Bank chequing account	Monthly fee	Offer details
  National Bank The Connected Account	$15.95	Earn up to $30 cashback..*Terms apply." title="" data-original-title="More info"
  National Bank Newcomer Bank Account	$0	Earn up to $600 when you open a Newcomer Bank Account and complete qualifying activities.

  ---

  National Bank savings account offers

  Currently, National Bank is not offering any new savings account sign-up promotions.

How to compare the best bank promotions in Canada

New bank account offers and bank promotions come with attractive perks, but switching accounts may not be right for you. Here are a few things to think about:

• What are the new account’s ongoing fees? Don’t let offers to open a new bank account distract you from an account’s ongoing fees. For example, most traditional banks charge a monthly fee of around $4 up to $30 per chequing account, while digital banks don’t charge monthly fees. Also, check if there are fees for transactions, transfers or ATM usage.
• When does the new bank account offer end? Bank promotions in Canada come and go. New account offers may only last a few months. It’s good to carefully consider your options, but don’t take too long, or you might miss out on a great bonus.
• Are you satisfied with your current bank? It may be worth switching banks if your current bank doesn’t offer good service or another bank offers better accounts and products for your needs.
• Is it easy to open a new account? It’s usually pretty easy to open a bank account online, although some banks have branches where you can get help in person.

In March 2026, the Government of Canada mandated that all NSF fees be capped at $10 (it was previously $40 to $50) and can only be charged once within two business days per account for all federally regulated financial institutions.

That said, when choosing a new account offer to sign up for, it’s still important to check how accounts handle insufficient funds to make sure potential fees won’t cancel out the bonus. For example, EQ Bank doesn’t offer overdraft protection, but it does not charge any NSF fees, while traditional banks offer overdraft protection but charge NSF fees.

Advantages and disadvantages of opting for new bank account offers

How to get a new bank account offer and bank promotion

To take advantage of bank promotions in Canada, all you have to do is open an account within the promotional time period. It’s that simple. Here’s how the process works:

1. Compare bank promotions. Compare rewards and bonuses for different new bank account offers. Also, look at ongoing fees, features and minimum balance requirements (if any) for any accounts you’re interested in opening.
2. Apply for an account. It’s easy to apply for a bank account online. Visit the bank’s website, and apply to open an account by providing your name, contact details, basic employment info, Social Insurance Number (SIN) and your reason for opening an account (i.e. spending, saving, investing).
3. Submit proof of ID. Upload a copy of a valid, government-issued ID such as a driver’s license, passport or Permanent Resident card. If you don’t have a photo ID, learn more about your options here.
4. Start using your account. Once approved, you’ll likely have immediate access to your online account and can register for online and mobile banking. You’ll receive your debit card in the mail shortly.
5. Get your new account bonus. After satisfying all the requirements of your new account offer, you’ll get your reward or bonus. Some bank promotions in Canada require a minimum deposit or several months of using direct deposit or bill payment features before you can receive a new account bonus.

Are new bank account offers worth switching for?

For the right customers, yes, new bank account promotions can be a great way to get ahead a little financially or treat yourself to something special. These special offers work best when you genuinely need a new account and aren’t simply jumping between banks to accumulate bonuses.

“Account hopping” can be inconvenient, and you’ll eventually run out of bank promos to take advantage of. This is because most banks only offer new account bonuses to customers who have either never held an account at that institution before, or who haven’t had an account with them in at least a year.

Additionally, some new account offers require you to jump through extra hoops to secure a bonus. This could include participating in an automatic savings plan or setting up direct deposit for your income or a few bills for at least several months.

In the end, it makes sense to hunt around for a new bank account offer when the need arises to open a new account. Just make sure you’ve taken into consideration your financial habits, and whether it’s worth paying a monthly fee for the account, before applying.

Compare offers from multiple banks to find the most competitive deal. Also pay attention to non-promotional fees and features, so you know what to expect in the long run.

Recently expired account promotional offers in Canada

We’ve been tracking historical bank promotions for years, which has allowed us to recognize trends in how bank offers change and how much value they offer potential customers. Some key insights are:

• Most banks typically refresh their new account offers every two to four months
• If you miss a promotion, you’ll likely see a comparable offer within the same year
• In many cases, previous bank bonuses were lower than what we’re seeing now

In the past, bank promotions were often worth a few hundred dollars. But due to a more competitive banking landscape in Canada, it’s common for Canadian financial institutions to offer higher sign-up bonuses that exceed $500, with some offers approaching $1,000.

While it’s unclear whether bonuses will continue to rise, current offers are among the most competitive we’ve seen, which means now might be the best time to jump on a new account offer.

Quick insight: Bank account bonuses can vary by hundreds of dollars depending on when you opt in, which is why comparing current and recently expired offers is useful. See recently expired bank offers below to compare how today’s deals stack up:

Bank bonuses in Canada are cyclical, so if you missed a specific promotion, there’s a good chance a comparable (or better) offer will return. Browse our active new bank account offers to see what promos are currently available.

How do bank referral bonuses work?

Some banks in Canada offer refer-a-friend promotions to encourage their current customers to get their family and friends to sign up for a new account at the bank. That means banks will quite literally pay you (and your friend) a cash bonus when your friend opens an account.

Bank referral bonuses typically offer between $20 or up to around $100 per referral. There are often some basic requirements involved to qualify to receive the bonus—like the friend funding their new account with a couple of hundred dollars for a few months.

If you’re thinking about opening a new bank account, it’s worth checking with your family and friends to see if they have a referral program that you can opt into to earn a referral bonus when you open your new bank account.

Combining a bank referral bonus with one of the best new account offers can be a great strategy for Canadians to maximize how much they earn with a new bank account.

Bank referral bonuses and refer-a-friend promotions

Simplii refer-a-friend bonus: Get up to $175

• For a limited time, earn $125 when your friend opens a No Fee Chequing Account or another eligible account with your unique referral link. Your friend can earn $50.
• Both you and your friend will get $50 Simplii referral bonus when your friend sends money abroad with Global Money Transfer.

Go to site

T&Cs apply.

EQ Bank referral bonus: Get $20

• Both you and your friend will earn $20 when your friend opens an EQ Bank Personal Account.

Go to site

T&Cs apply.

KOHO referral bonus: Get up to $100 in value

• Refer a friend to KOHO and, once your friend signs up through your KOHO referral code and makes a $20+ purchase within 30 days, you get up to $100 cash and your friend gets three months of the Everything Plan for free (worth $66).

Go to site

T&Cs apply.

Tangerine referral bonus: Get $50

• Once your friend signs up using your Orange Key and fulfills qualifying actions, you'll both earn $50.

Go to site

T&Cs apply.

CIBC referral bonus: Get $50

• Both you and a friend can earn a $50 CIBC referral bonus when your friend opens an eligible CIBC Smart Account and completes qualifying actions.

Bank promotions in Canada from 2022 to 2026

We’ve been tracking bank promotions in Canada for years. To help give you a snapshot of how promotional savings rates have changed over time, take a look at this chart comparing promotional rates from a Big Five Bank (Scotiabank) and a digital bank (Simplii Financial) from 2022 to 2026.

Interestingly, new savings account promotional rates generally rose between 2022 and 2024 but started decreasing near the end of 2024 and into 2025 before flatlining in 2026—a trend that is very much in line with the Bank of Canada’s benchmark rates over that same time.

That being said, the Bank of Canada raised interest rates in October 2026 for the first time since 2023 and has not denied the possibility of further rate hikes in response to increased energy prices and inflationary pressures.

What do Canadians think of new account offers?

In our latest Finder: Consumer Sentiment Survey March 2026, we asked Canadians how new account offers factor into their decisions when choosing between accounts. It turns out that 16.26% of Canadians think bank promotional offers are the most important factor when switching accounts, while nearly half of Canadians (49.19%) use promotions as one of several factors to weigh their decisions. Interestingly, a little over 1 in 10 Canadians (13.44%) aren’t even aware that banks offer these promotions.

In the previous Finder: Consumer Sentiment Survey January 2025, we asked Canadians what they thought about new account offers in general. It turns out that over half (55.54%) of Canadians would switch bank accounts to take advantage of an advertised promotional offer, while 25.87% said that the sign-up bonus would play an important factor in their decision.

We also wanted to know how Canadians have responded to bank promotions in the past, and we found that 30.57% switched accounts due to a bonus offer and ended up sticking with the account long term.

However, a small number of Canadians (8.39%) said they were disappointed with the offer after switching. That’s why it’s important to carefully compare promotional offers before signing up to ensure that making the switch will be worth it.

FAQs about bank promotions in Canada

• Which Canadian banks have the best promotions?

  The Canadian banks and fintechs currently offering the best promotions on the market are:

  • BMO Performance Chequing Account: Earn up to $1,100. Earn up to a $1,100 cash bonus with the BMO Performance Chequing Account. Plus, get a Walmart+ membership for up to 12 months. Valid until March 1, 2027.
  • Scotiabank Preferred Package: Earn up to $1,000 when you bundle a Preferred Package, savings account, and credit card. Valid until March 4, 2027.
  • TD All-Inclusive Banking Plan: Get up to $1,000 when you open a TD All-Inclusive Banking Plan. T&Cs apply. Offer ends March 3, 2027.
  • Simplii No Fee Chequing Account: Earn $350 when you become a new client and set up a direct deposit of at least $100 for 4 straight months. Offer ends January 31, 2027.

  If you're looking for high-interest promos instead of cash bonuses, some of the best bank promotions right now are available from BMO and Simplii Financial.

  • BMO Savings Amplifier Account: Earn 5% interest when you open both a BMO Savings Amplifier Account and a BMO Performance, Premium, Plus or Practical Chequing Account. Plus, earn up to a $1,100 opening bonus with the chequing account. Valid until November 30, 2026
  • Simplii High Interest Savings Account: Earn 5.00% interest for 5 months on up to $100,000 in savings. Terms apply. Offer ends January 31, 2027.

• What banks are giving money for new accounts in Canada?

  As of November 2026, BMO, Scotiabank, Coast Capital, TD Canada Trust, Tangerine, CIBC and Simplii Financial are all offering cash bonuses for opening a new account—many are worth up to hundreds of dollars. Check out our list of the best new bank promotions with cash rewards to learn more.

• What are the best chequing account offers in Canada?

  Here are some of the best chequing account bank promotions in Canada as of November 2026:

  • BMO Performance Chequing Account: Earn up to $1,100. Earn up to a $1,100 cash bonus with the BMO Performance Chequing Account. Plus, get a Walmart+ membership for up to 12 months. Valid until March 1, 2027.
  • Scotiabank Preferred Package: Earn up to $1,000 when you bundle a Preferred Package, savings account, and credit card. Valid until March 4, 2027.
  • TD Unlimited Chequing Account: Get up to $850 when you open a TD Unlimited Chequing Account. T&Cs apply. Offer ends March 3, 2027
  • Coast Capital Unlimited Chequing Account: Earn up to a $600 cash bonus when you open and use a Coast Capital Unlimited Chequing Account. Offer expires November 30, 2026.

• Which bank has the highest promo interest rate for savings accounts in Canada?

  Here are some of the best savings account promotions as of November 2026:

  • BMO Savings Amplifier Account: Earn 5% interest when you open both a BMO Savings Amplifier Account and a BMO Performance, Premium, Plus or Practical Chequing Account. Plus, earn up to a $1,100 opening bonus with the chequing account. Valid until November 30, 2026
  • Simplii High Interest Savings Account: Earn 5.00% interest for 5 months on up to $100,000 in savings. Terms apply. Offer ends January 31, 2027.
  • Tangerine Savings Account: Open a Tangerine Savings Account to earn 4.50% for the first 5 months (on up to $1,000,000 in deposits) when you sign up by November 30, 2026. Thereafter, you'll earn 0.30%.

• Are there any student bank account offers in Canada?

  Special offers for student bank accounts include:

  • Simplii Financial Student No Fee Chequing Account: Earn $350 when you become a new client and set up a direct deposit of at least $100 for 4 straight months. Offer ends January 31, 2027.
  • BMO Performance Student Chequing Account: Students earn up to $850 in value, including a $300 Tech reward from Best Buy. Valid until March 1, 2027
  • CIBC Smart for Students: Get $125 cash and a free Skip+ membership.

• Do any banks offer referral bonuses?

  Some Canadian banks offer bonuses when you refer a friend or family member. Examples include Simplii Financial, EQ Bank, Tangerine and CIBC. Bonuses could be in the form of cash rewards, gift cards or discounts on other banking products and services. Terms and conditions vary between referral programs, so check with your bank to find out exactly how its program works.

• Are new bank promotions and account offers available if I already have an account?

  Usually, no. New account offers are typically only available to new customers, not existing bank customers. In fact, each bank has its own definition of what qualifies as a "new customer" and usually excludes people who have had an account within the past year or more, even if they don't currently have an account at that bank. Some banks require you to wait several years after closing an account with them before you'll be considered a "new customer" for the purposes of a new account offer.

• Who qualifies for a new chequing account offer?

  To qualify for a new chequing account offer, you simply need to have a photo ID, a Canadian address and be a new customer to the bank. That means that existing customers can't switch accounts within their bank to snag a promotional deal. Instead, you can only sign up for a new bank account offer if you're not already holding an account with that bank.

To make sure you get accurate and helpful information, this guide has been edited by Chelsey Hurst as part of our fact-checking process.

Written by

Stacie Hurst

Editor

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Stacie Hurst is an editor at Finder, specializing in loans, banking, investing and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she has completed FP Canada Institute's Financial Management Course. Before working in the publishing industry, Stacie completed one year of law school in the United States. When not working, she can usually be found watching K-dramas or playing games with her friends and family. See full bio

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Emma Balmforth is a producer at Finder. She is passionate about helping people make financial decisions that will benefit them now and in the future. She has written for a variety of publications including World Nomads, Trek Effect and Uncharted. Emma has a degree in Business and Psychology from the University of Waterloo. She enjoys backpacking, reading and taking long hikes and road trips with her adventurous dog. See full bio

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