We're used to giving banks our money, but what happens when a bank wants your business? They start to offer you money. Canadian banks use new bank account offers like cash bonuses, free stuff, gift cards and bonus interest rates to entice you to switch.
So, if you're considering switching your chequing account, it's worth first comparing the best promotions on now in Canada. We chose these top bank offers after analyzing over 20 Canadian financial institutions and more than 45 accounts.
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:
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:
Some bank promotions in Canada offer a bonus just for opening an account. Other new bank offers require you to jump through a few hoops to land a special deal. Requirements might include the following:
To qualify for any bank promotion, be prepared to show 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.
Yes, it looks like opening a chequing account is a top financial priority for many Canadians. In January 2023, Finder asked more than 1,840 Canadians about their financial plans in 2023.
When asked what type of bank accounts and banking products respondents planned to open in the first three months of 2023, almost 1 in 5 Canadians (17%) said they planned to open a chequing account.
The number of Canadians that plan to open a chequing account rose from the Q1 2023, to Q2 2023. According to results from the Finder: Consumer Sentiment Survey Q2, 22% of respondents plan to open a chequing account — an overall increase of 29% in the number of Canadians planning to open a chequing account.
With bank promotional offers getting more competitive, we can expect to see similar interest from Canadians looking to open chequing accounts throughout 2024 as well.
These Chime alternatives offer no-fee online and mobile banking along wih a host of other perks.
Read more…
The Canadian neobanks and fintechs worth considering if you’re searching for Nubank alternatives.
Read more…
Digital banking continues to grow in popularity. Learn the key figures regarding Canada digital banking statistics.
Read more…
Learn what makes a good online savings account and find out what features are best when choosing an online savings account.
Read more…
Whether you’re looking for a digital-only bank, a virtual bank account or a bank account you can access online, we help you find and compare the best online banks in Canada.
Read more…
It’s easy to open a digital bank account with government-issued ID, and you might not need additional proof of residency.
Read more…
Use this calculator to find out how much you can grow your money.
Compare cash advance apps that don’t require direct deposit to be eligible for funding.
Your guide to eligibility requirements, rates and fees of Lenditt payday loans.
Compare Canadian cash advance apps and payday loans that don’t require a credit check to qualify.
Learn which cryptos make up the top 10 and what each one is used for.
Looking for alternatives to TorFX for sending money abroad? Check out these reputable money transfer services.
Learn more about RBC business banking services and how to find the right account for your business.
Paying off an overseas debt with an international money transfer can lead to huge savings on fees and interest.
We compare personal lines of credit and HELOCs side-by-side to help you decide which one is right for you.