Best Canadian bank account bonuses right now
Last updated Oct 2026. Every offer below was checked against the bank's own page on October 16, 2026.
Canadian banks are competing hard for new chequing customers this fall. Several offers are worth several hundred dollars, and a couple of brokerage promos are worth a lot more if you're moving a big portfolio.
This is the short list: what each offer pays, what it actually asks of you, and when it ends. Each one links to its full page on our tracker, where we keep the step-by-step requirements and the link to the official terms.
Quick note before you dive in: offers change often, and the bank's own terms always win. Read them before you open anything.
The quick table
| Offer | Up to | Ends | Main requirement |
|---|---|---|---|
| Scotiabank Preferred/Ultimate Package | $1,000 | Oct 29, 2026 | Recurring direct deposit + 1 transaction in 60 days |
| BMO Performance/Premium Plan | $900 | Nov 2, 2026 | New primary chequing (+ Savings Amplifier for extra) |
| CIBC Smart Account | $850 | No end date posted | $500+/month direct deposit + everyday transactions |
| TD Unlimited / All-Inclusive | $650 | Open by Nov 2, 2026 | Two qualifying activities by Jan 4, 2027 |
| RBC Signature No Limit / VIP | iPad ($649 value) | Nov 2, 2026 | Two of: payroll deposit, pre-authorized payments, bill payments |
| Coast Capital new member | $600 | Nov 30, 2026 | Same direct deposit for 3 months (not available in Quebec) |
| Simplii No Fee Chequing | $350 | Jan 31, 2027 | $100+/month direct deposit for 4 months |
| Tangerine No-Fee Chequing | $250 | Oct 31, 2026 | Switch your full payroll ($200+/month) |
| CIBC Smart Start / Students | $125 | No end date posted | 5 Visa Debit purchases |
| Questrade GET1000 | $1,000 | Fund by Nov 2, 2026 | Fund $20K / $50K / $100K+ |
| Wealthsimple 1% transfer match | $20,000 | No end date posted | Transfer $25K+ in from another institution |
The big bank chequing offers
Scotiabank: up to $1,000 (ends October 29)
This is the largest cash offer on the list, and it's ending soon. You get $700 for opening your first Preferred or Ultimate Package chequing account. You need to set up an eligible recurring direct deposit (one that's meant to run for 6 months or more) and make one qualifying transaction within 60 days. There's an extra $200 for opening a new Money Master Savings account and $100 for getting an eligible credit card and making a purchase within 60 days.
Worth knowing: these are paid packages with a monthly fee unless you keep the minimum balance. Do the math on fees for the months you'll keep the account open.
BMO: up to $900 (ends November 2)
Open a new primary chequing account on the Performance or Premium Plan and you can earn up to $700. Add $150 for a new Savings Amplifier account and $50 for setting a savings goal in BMO's My Financial Progress tool. If you'd rather a cheaper plan, the Practical Plan earns $150.
CIBC Smart Account: up to $850
The cash portion is $500. Within 2 months, set up a recurring direct deposit of $500 or more per month. Within 60 days, also make one of these: 2 pre-authorized debits, 2 bill payments of $50 or more, or 5 Visa Debit purchases in one month. There's another $100 if you're approved for an eligible credit card within a month. The top number also includes up to $250 in Dividend Visa Infinite cash back, which only makes sense if you actually want that card.
TD: $500 cash, up to $650 with the bundle (open by November 2)
Open TD Unlimited Chequing or the All-Inclusive Banking Plan by November 2, 2026, then complete two qualifying activities by January 4, 2027, and you get $500. You get another $150 for opening an eligible savings account and being approved for an eligible TD credit card within 30 days. TD advertises the bundle as "up to $750 in value." That figure includes a promotional savings rate, so we list the cash part.
RBC: an iPad (open by November 2)
RBC pays in hardware instead of cash. Open a Signature No Limit or VIP Banking account by November 2, 2026. Within 90 days, do two of the following: a full payroll or pension direct deposit, two pre-authorized monthly payments, or two eligible bill payments. The base gift is an 11-inch iPad (RBC lists it at $649). If you also bring in new investment money, the reward moves up to bigger Apple devices.
Watch out: you have to keep the account and the activity going until November 2, 2027. That's a full year of monthly fees, so count them.
No-fee and smaller offers
Not everyone wants a monthly fee, and these are good choices if you don't.
- Simplii, $350: This is a no-fee account. Within 150 days, set up recurring direct deposits of $100+ a month and keep them going for 4 months in a row. It's for new clients only, and the offer runs to January 31, 2027.
- Tangerine, $250: This is also no-fee. You need to switch your full payroll ($200+/month). Your client number has to be created by October 31, 2026, so this one closes soon.
- Coast Capital, up to $600: This credit union offer is open to new personal members who haven't been members in the last 5 years. It isn't available to Quebec residents. Keep the same direct deposit for 3 months in a row to get $400 on Unlimited or Elevate chequing, and get up to $200 more if you spend $1,000 on their new Mastercard within 90 days.
- CIBC Smart Start / Students, $125: It's simple. Make 5 Visa Debit purchases, as long as you haven't had CIBC chequing since January 1, 2022.
Brokerage offers (if you're moving investments)
These pay based on how much money you bring over, so they only matter if you already have savings sitting somewhere else.
- Questrade GET1000: You get $100 to $1,000 cash, with tiers at $20K, $50K and $100K+. Fund the account by November 2, 2026, and transfers you start by then must arrive by December 14. If you withdraw before the final payout, your bonus can shrink. Questrade covers transfer-out fees up to $150 per account.
- Wealthsimple 1% match: You get 1% of net transfers, up to $20,000, paid in 24 monthly instalments. Register first, then start $25K+ in transfers from other institutions within 30 days. Cash deposits don't count. It also reimburses transfer fees up to $150 per account.
Moving registered accounts like a TFSA or RRSP? Always use an institution-to-institution transfer, never a withdrawal and re-deposit. A withdrawal can cost you contribution room or trigger tax.
How to pick
- Start with the deadline. Scotiabank (Oct 29) and Tangerine (Oct 31) close first.
- Count the fees. Subtract the monthly fees for every month you have to keep the account open from the bonus.
- Check your direct deposit. Most offers need one. If your employer only pays into one account, you might need to switch it, or split it if payroll allows.
- Space them out. You don't need to do them all at once. Our guide to stacking bonuses without hurting your credit shows how.
FAQ
Do I have to be a new customer?
Almost always, yes. Most offers exclude anyone who has had that bank's chequing account recently. Each offer page lists the exact rule.
Does opening a chequing account affect my credit score?
Chequing accounts usually don't need a credit check. The offers that add a credit card do involve a credit application. Our guide to stacking bonuses without hurting your credit covers this in detail.
Is the bonus taxable?
It depends on your situation. If you're not sure, check with the CRA or a tax professional.
Do you get paid if I sign up?
No. None of the links in this post are affiliate links. They go to our own offer pages, which link to the banks' official terms.
This post is for educational purposes only and isn't financial, tax or legal advice. Offers can change or end at any time, so confirm the current terms with the institution before you apply.