Where can I find out if a bank has an introductory offer for customers who are switching?

You can often find information about introductory offers on banks' websites.

Is it worth changing banks to take advantage of an introductory offer?

It depends on the offer. New customer offers can save you hundreds of dollars in fees or help you grow your savings balance more quickly. However, these offers only apply for a limited time, so check what standard terms and conditions will apply once the intro period ends.

Which is better: bank introductory interest rates or cash bonuses?

It depends. If you have a large nest egg, a slight interest rate increase can have a large impact. If you're just getting started with your savings, a cash bonus can offer a substantial boost.

Why can't I find the type of introductory bank offer I want?

Introductory interest rates are more common with savings accounts, while cash bonuses are more common with chequing accounts. The Bank of Canada's recent rate cuts have prompted banks to lower savings account rates, making it harder to find impressive promotional deals. If you don't need flexible access to your savings, check out low-risk investments like Guaranteed Investment Certificates (GICs) or bonds , which might offer better returns than savings accounts.