Best Bank Account Welcome Offers in Canada: October 2026
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A bank account welcome offer can pay you up to $1,000 for moving your pay or paying a few bills from a new account. This page lists the best bank account welcome offers in Canada as of October 18, 2026: chequing bonuses, no-fee accounts, student and newcomer packages, and promotional savings rates. Every amount, end date and monthly fee comes from our account catalogue on that date. For the bigger picture, start with our banking hub or our ranking of the best chequing accounts in Canada.
We refresh this page every month. Banks can change or end an offer at any time, so confirm the terms on the bank's own page before you open an account.
How we picked these offers
We started from every active, public account in our catalogue that carried a welcome offer on October 18, 2026. We then grouped the offers by need and kept the ones with the clearest value for the conditions attached. A large bonus on an account with a high monthly fee is not always the best deal, so we show the fee next to every offer.
Two rules apply to every pick:
- One source for every number: offer amounts, end dates, monthly fees and rates come from our account catalogue, never from another article.
- "Up to" stays "up to": when a bank pays the offer in parts or sets conditions, we show the maximum and say what it takes.
No account on this page holds a sponsored placement this month. Some links may earn Ratesopedia a commission, which never changes the figures we show.
Welcome offers at a glance
The table below summarizes the main offers. Amounts are maximums, and each one comes with conditions set by the bank.
| Account | Welcome offer | Monthly fee | Offer ends |
|---|---|---|---|
| Scotiabank Preferred Package | Up to $1,000 welcome bonus | $16.95 (waived with $4,000 balance) | Oct. 29, 2026 |
| BMO Performance Chequing Account | Up to $900 cash bonus | $17.95 (waived with $4,000 balance) | Nov. 2, 2026 |
| CIBC Smart Account | Up to $850 welcome bonus | $16.95 (waived with $3,000 balance) | Not published |
| TD Unlimited Chequing Account | Up to $750 in total value | $17.95 (waived with $4,000 balance) | Nov. 2, 2026 |
| Simplii Financial No Fee Chequing Account | $350 cash bonus | $0 | Jan. 31, 2027 |
| Tangerine No-Fee Daily Chequing Account | $250 when you move your pay | $0 | Apr. 30, 2027 |
| BMO Performance Student Chequing Account | Up to $800 welcome bonus | $0 while in school | Nov. 3, 2026 |
| Scotiabank MomentumPLUS Savings Account | 4.65% for 3 months (regular 0.40%) | $0 | Not published |
| Simplii Financial High Interest Savings Account | 4.60% for 153 days (regular 0.30%) | $0 | Oct. 31, 2026 |
Best chequing account welcome offers
The largest bonuses sit on full-service chequing packages from the big banks. They pay well, but each one carries a monthly fee unless you keep a minimum balance. Compare all options with our chequing account comparison tool.
- Scotiabank Preferred Package: up to $1,000 welcome bonus. Monthly fee: $16.95, waived with a minimum daily closing balance of $4,000. Offer ends October 29, 2026.
- Scotiabank Ultimate Package: up to $1,000 welcome bonus. Monthly fee: $30.95, waived with a minimum daily closing balance of $6,000. Offer ends October 29, 2026.
- BMO Performance Chequing Account: up to $900 cash bonus. Monthly fee: $17.95, with no monthly plan fee when you keep a minimum balance of $4,000. Offer ends November 2, 2026.
- CIBC Smart® Account: up to $850 welcome bonus. Monthly fee: $16.95, with no monthly fee if you keep a minimum balance of $3,000. No end date published.
- TD Unlimited Chequing Account: up to $750 in total value. That is $500 cash when you complete 2 of 3 eligible activities before January 4, 2027, plus up to $250 more by adding an eligible TD savings account and credit card. Monthly fee: $17.95, waived with a minimum daily closing balance of $4,000. Offer ends November 2, 2026.
- RBC Signature No Limit Banking Account: a free Apple iPad (11-inch). Monthly fee: $16.95. Offer ends November 2, 2026.
Scotiabank Preferred Package
Scotiabank
- Monthly fee
- $16.95/mo
- Monthly fee waived with a minimum daily closing balance of $4,000
- Included transactions
- Unlimited
- Unlimited Interac included
- Welcome Offer
- Up to $1,000 welcome bonus
- Ends Oct 29, 2026
Apply Now
on Scotiabank's website
- Monthly fee
- $16.95/mo
- Fee waiver
- Monthly fee waived with a minimum daily closing balance of $4,000
- Included transactions
- Unlimited
- Interac e-Transfers
- Unlimited Interac included
- ATM — bank network
- $0
- Insufficient funds
- $5
- E-statement
- Included
- Credit card rebate
- $150
Right now, when you open a new Scotiabank Preferred Package, you can earn up to $1,000 in bonuses!
To get a $700 bonus, you must open a new Preferred or Ultimate Package and, within 60 days:
- Set up a recurring direct deposit (such as payroll or pension) that recurs every month for 6 consecutive months; and
- Complete one of the following: a pre-authorized debit of at least $50 per month for 6 consecutive months, a bill payment of at least $50 in your online banking, or a Visa Debit purchase with your ScotiaCard
Then, you can earn a $200 bonus by opening a new Money Master savings account and maintaining your enrollment in a smart savings tool (Pay Yourself First or Find the Money) for 90 consecutive days.
Finally, you’ll earn a $100 bonus by applying and being approved for an eligible credit card of which you are the primary cardholder, and then making at least one eligible purchase on it.
The Scotiabank Preferred Package has the following main features:
- Unlimited Interac Debit and e-Transfer transactions
- Annual fee waiver for the first year on select credit cards (up to $150)
- Recurring $40 annual discount on select eligible credit cards
- Preferred rates on select GICs
- One free withdrawal per month at a non-Scotiabank ATM in Canada
Welcome offer
Up to $1,000 welcome bonus
Ends Oct 29, 2026
Account details & conditions
- Earn up to $1000 when you bundle an eligible banking package, savings account, and eligible Credit Card and complete certain qualifying transactions/conditions*.
- Unlimited debit transactions and Interac e-transfer transactions
- First year annual fee rebate on select credit cards (up to $150)
- Earn points on every day purchases with the Scene+™ program
- 4 more perks
Rates, fees and other information are effective as of July 3, 2026. Subject to change.
- Monthly fee
- $17.95/mo
- No monthly plan fees with a minimum balance of $4,000*
- Included transactions
- Unlimited
- Welcome Offer
- Up to $900 cash bonus*
- Ends Nov 2, 2026
Apply Now
on BMO's website
- Monthly fee
- $17.95/mo
- Fee waiver
- No monthly plan fees with a minimum balance of $4,000*
- Included transactions
- Unlimited
- Interac e-Transfers
- Not specified
- E-statement
- Included
- Credit card rebate
- $40
With the BMO Performance Chequing Account, you can get up to $900 in cash* and up to 12 months of Walmart Delivery Pass subscription*:
- $700 for opening a BMO Performance or Premium Chequing Account by November 2, 2026, setting up a recurring direct deposit of $500 or more by December 31, 2026, and completing eligible banking activities.
- $150 for opening a Savings Amplifier Account by November 22, 2026 with a deposit of $10,000 or more within 30 days of opening the account and maintaining an eligible balance to receive the promotional interest rate of 5.00%.
- An additional $50 by creating a goal and applying a strategy in My Financial Progress by December 31, 2026.
- Up to 12 months of Walmart Delivery Pass subscription when you open and fund an eligible BMO account and use your debit card as the payment method.
Also enjoy a promotional interest rate of 5.00% with a BMO Savings Amplifier Account.
Other Benefits:
- Unlimited banking transactions*
- Family members in your household get no fee daily banking with the BMO Family Bundle*
- Up to $40 rebate for eligible BMO credit cards*
- OnGuard®† Identity Theft Protection at no charge*
All for $17.95 a month, or free if you maintain a minimum balance of $4,000*.
Welcome offer
Up to $900 cash bonus*
Ends Nov 2, 2026
Account details & conditions
Get up to $900 in cash* + up to 12 months of Walmart+ membership* :
- Earn $700 when you:
- Open and fund a new BMO Performance or Premium Plan Chequing Account by November 2, 2026*
- Set up a recurring direct deposit of $500 or more from your employer, the government, or a pension plan into your new chequing account by December 31, 2026*
- Complete one of the following by December 31, 2026* :
- Make two bill payments of at least $50 to two different payees through BMO Online Banking or the BMO Mobile Banking app*
- Set up two pre-authorized debits of at least $50 with two different payees*
- Earn $150 when you:
- You must complete Step 1 to be eligible for Step 2.*
- Open a Savings Amplifier Account by November 2, 2026*
- Deposit $10,000 or more within 30 days of opening the account and maintain a daily closing balance of $10,000 or more for 120 calendar days from the deposit date to receive the 5.00% promotional interest rate on balances up to $1,000,000*
- Then maintain a daily closing balance of $10,000 or more for an additional 90 calendar days to be eligible for the $150 cash bonus*
- Earn $50 when you:
- You must complete Step 1 to be eligible for Step 3.*
- Create a goal and apply one (1) strategy in My Financial Progress by December 31, 2026*
- Get up to 12 months of Walmart+ membership* :
- Open and fund a new BMO Performance, Premium, Practical, or Plus Plan Chequing Account by November 2, 2026*
- Sign up for Walmart+ or update your existing membership to Walmart+ by December 31, 2026 and select your debit card as the payment method*
- Get a 5.00% promotional interest rate on balances up to $1,000,000 when you add a Savings Amplifier Account.*
- Unlimited transactions*
- Family members in your household get no fee daily banking with the BMO Family Bundle*
- Up to $40 rebate for eligible BMO credit cards*
- OnGuard®† Identity Theft Protection at no charge*
- Monthly fee
- $16.95/mo
- no monthly fee if you maintain a minimum balance of $3,000
- Included transactions
- Unlimited
- Unlimited Interac included
- Welcome Offer
- Up to $850 welcome bonus*
Apply Now
on CIBC's website
- Monthly fee
- $16.95/mo
- Fee waiver
- no monthly fee if you maintain a minimum balance of $3,000
- Included transactions
- Unlimited
- Interac e-Transfers
- Unlimited Interac included
- ATM — bank network
- $0
- Insufficient funds
- $5
- E-statement
- Included
Discover the CIBC Smart Account, designed to fit your needs.
Enjoy flexible monthly fees from $0 to $16.95 and no monthly fees with a minimum daily balance of $4,000. Seniors (65 and over) receive an additional discount of $6.95.
Make your transactions free of charge with unlimited Interac e-Transfers and enjoy one free withdrawal per month at a non-CIBC bank machine in Canada. Use your account for online purchases with Visa Debit.
Welcome offer
Up to $850 welcome bonus*
Account details & conditions
- Flexible monthly fee from $0 to $16.95
- No monthly fee with a minimum daily balance of $4,000
- Fee reduction of $6.95 for seniors (65 and over)
- Monthly fee based on number of transactions
- $0 for minimum balance reached
- $6.95 up to 12 operations
- $1.25 per transaction from 13 to 20 transactions
- $16.95 for unlimited transactions
- Free Interac e-Transfer® transactions
- One free withdrawal per month at a non-CIBC bank machine in Canada
- Visa Debit for online purchases and applications
- Monthly fee
- $17.95/mo
- Monthly fee waived with a minimum daily closing balance of $4,000
- Included transactions
- Unlimited
- Unlimited Interac included
- Welcome Offer
- Get up to $750 in total value: $500 cash when you open a TD Unlimited Chequing Account (by completing 2 of 3 eligible activities before January 4, 2027), plus up to $250 more by adding an eligible TD savings account and credit card. Offer valid until November 2, 2026. Conditions apply.
- Ends Nov 2, 2026
Apply Now
on TD's website
- Monthly fee
- $17.95/mo
- Fee waiver
- Monthly fee waived with a minimum daily closing balance of $4,000
- Included transactions
- Unlimited
- Interac e-Transfers
- Unlimited Interac included
- ATM — bank network
- $0
- ATM — other networks in Canada
- $0
- ATM — United States
- $3
- ATM — international
- $5
- Insufficient funds
- $4
- E-statement
- Included
- Credit card rebate
- $20
Discover the TD Unlimited Chequing Account, ideal for hassle-free financial management.
Enjoy unlimited transactions and no TD ATM fees in Canada. Save on the $17.95 monthly fees by maintaining a balance of $4,000. Seniors benefit from a $5 discount on monthly fees.
Benefit from free Interac e-Transfers, annual fee rebates on selected TD credit cards, and free TD fraud alerts. Get 50% more Stars at Starbucks.
Welcome offer
Get up to $750 in total value: $500 cash when you open a TD Unlimited Chequing Account (by completing 2 of 3 eligible activities before January 4, 2027), plus up to $250 more by adding an eligible TD savings account and credit card.
Offer valid until November 2, 2026.
Conditions apply.
Ends Nov 2, 2026
Account details & conditions
- Unlimited operations
- Monthly fees of $17.95, waived with a balance of $4,000
- No TD ATM fees in Canada
- $5 discount on monthly fees for seniors (60 and over)
- Free Interac transfers
- Annual fee discount on selected TD credit cards
- Free TD Fraud Alerts
- 50% more Stars at Starbucks
- Monthly fee
- $16.95/mo
- Included transactions
- Unlimited
- Welcome Offer
- Get a free Apple iPad (11-inch)*
- Ends Nov 2, 2026
Apply Now
on RBC's website
- Monthly fee
- $16.95/mo
- Included transactions
- Unlimited
- Interac e-Transfers
- Not specified
- ATM — bank network
- $0
- E-statement
- Not included
- Credit card rebate
- $39
Discover RBC Signature No Limit Banking with unlimited debit transactions and free Interac e-Transfers.
Save $16.95 on monthly fees with the Value Program, with no minimum balance required.
Benefit from overdraft protection up to $5,000 and a rebate of up to $48 on eligible annual credit card fees.
Save 3¢/l on gas at Petro-Canada and benefit from the Right Account Guarantee.
Welcome offer
Get a free Apple iPad (11-inch)*
Ends Nov 2, 2026
Account details & conditions
- Unlimited debit transactions
- Monthly fee of $16.95, reduced to $5 with the Value Program
- Free Interac transfers
- No minimum balance required
- Overdraft protection up to $5,000
- Rebate of up to $48 on eligible annual credit card fees
- Save 3¢/l on gas at Petro-Canada
- Right Account Guarantee: refund of monthly fees if dissatisfied within the first four months
BMO's Premium Chequing Account carries the same up to $900 offer with a $30.95 monthly fee, waived with a $6,000 minimum balance. TD's All-Inclusive Banking Plan carries the same up to $750 structure as the Unlimited account, with a $30.95 fee waived at a $5,000 minimum daily closing balance.
Best no-fee chequing account offers
A no-fee account keeps the whole bonus, because no monthly fee eats into it. The amounts are smaller, but the conditions are usually simpler. Our guide to the best no-fee chequing accounts covers more options.
- Simplii Financial No Fee Chequing Account: $350 cash bonus. Offer ends January 31, 2027.
- Tangerine No-Fee Daily Chequing Account: $250 when you open the account and move your pay to it. Offer ends April 30, 2027.
- PC Money™ Account: 150,000 PC Optimum points, valued at $150. No end date published.
- Wealthsimple Chequing Account: $25 cash back. No end date published.
Simplii Financial No Fee Chequing Account
Simplii Financial
- Monthly fee
- $0
- Included transactions
- Unlimited
- Unlimited Interac included
- Welcome Offer
- $350 cash bonus†
- Ends Jan 31, 2027
Apply Now
on Simplii Financial's website
- Monthly fee
- $0
- Included transactions
- Unlimited
- Interac e-Transfers
- Unlimited Interac included
- E-statement
- Included
Open a Simplii Financial No Fee Chequing Account before January 31, 2027 and earn a $350 cash bonus by setting up an eligible deposit of at least $100 per month for 4 consecutive months.
Save over $200 a year with this no monthly fee, no minimum balance account.
Enjoy free access to all CIBC ATMs across Canada, as well as unlimited Interac and debit transactions.
Welcome offer
$350 cash bonus†
Ends Jan 31, 2027
Account details & conditions
This product is not available for Quebec residents.
Earn $350 when you become a new client†
- Open a No Fee Chequing Account by January 31, 2027;
- Add an eligible deposit of at least $100 per month for 4 consecutive months.†
No Fee Chequing Account
Save over $200/year† with free daily banking. No more monthly fees!
- No monthly or minimum balance needed
- Free access to all CIBC ATMs across Canada
- Unlimited Interac e-Transfer® and debit transactions
Global Money Transfer
Get $50 when you make your first global money transfer with your new chequing account offer.†
- Use promo code GMTEVENT to claim this offer
- Send up to $50,000 worldwide
- No transfer fees or deductions
- For many countries, send in both the local currency and U.S. dollars
- Monthly fee
- $0
- Included transactions
- Unlimited
- Unlimited Interac included
- Welcome Offer
- Open a no monthly fee Chequing Account and move your pay to earn $250*. Offer ends April 30, 2027.
- Ends Apr 30, 2027
Apply Now
on Tangerine's website
- Monthly fee
- $0
- Included transactions
- Unlimited
- Interac e-Transfers
- Unlimited Interac included
- ATM — bank network
- $0
- Insufficient funds
- $5
- E-statement
- Included
- Regular interest
- 0.1%
Tangerine offers a chequing account with no monthly fees and no minimum balance, ideal for simplifying your day-to-day finances.
In addition, new customers get up to a $250 bonus:
- Receive $250 by depositing your eligible paycheque into a new Tangerine chequing account for at least 2 months;
- The offer ends April 30, 2027.
Here are the main features of the Tangerine No-Fee Daily Chequing Account:
- No monthly fees or minimum balance required
- Unlimited transactions and Interac transfers
- User-friendly mobile application to manage your operations
- Earn up to an additional $300 per year by referring friends and family
Enjoy free access to 3,500+ Scotiabank ABMs in Canada and 44,000+ ABMs worldwide through Scotiabank’s Global ATM Alliance, and earn interest on your chequing balance.
Welcome offer
Open a no monthly fee Chequing Account and move your pay to earn $250*.
Offer ends April 30, 2027.
Ends Apr 30, 2027
Account details & conditions
New Clients: You could get $250 for moving your pay
Take advantage of our limited time new client offer and put your money to work at Tangerine.
Earn $250 in cash: Transfer your eligible pay into a no-monthly-fee checking account for at least 2 consecutive months. Offer ends April 30, 2027.
- No monthly fees or minimum balance
- Free Interac transfers
- Free access to 3,500 Scotiabank ABMs
- Quick and easy online registration
PC Money™ Account
PC Financial
- Monthly fee
- $0
- Included transactions
- Unlimited
- Unlimited Interac included
- Welcome Offer
- 150,000 PC Optimum points ($150 value)
Apply Now
on PC Financial's website
- Monthly fee
- $0
- Included transactions
- Unlimited
- Interac e-Transfers
- Unlimited Interac included
- E-statement
- Not included
- Regular interest
- 2.2%
Enjoy a welcome offer of 150,000 PC Optimum points (equivalent to $150) with the PC Money AccountTM.
This account, with no monthly fees or minimum balance required, allows you to make unlimited transactions at no cost, including Interac e-Transfer service and foreign currency transactions.
Earn PC Optimum points with every transaction. You can earn up to 10,000 points per month with direct deposit of your pay or pension and bill payments, plus 10 points per $1 at Loblaw banner stores, 25 points per $1 at Shoppers Drug Mart and 5 points per $1 everywhere else.
Finally, optimize your savings with an interest rate of 2.2% and grow your capital with the optional savings feature.
Welcome offer
150,000 PC Optimum points ($150 value)
Account details & conditions
- Enjoy a welcome offer of 150,000 bonus PC OptimumTM points, a $150 value!**
- No monthly fees or minimum balance required.
- Unlimited transactions at no cost.
- Interac e-TransferMD service and foreign currency transactions at no cost.
- Earn PC Optimum™ points for your everyday banking transactions, including up to 10,000 points per month for direct deposit of pay or pension and bill payments, plus 10 points per $1 at Loblaw banner stores, 25 points per $1 at Shoppers Drug Mart and 5 points per $1 everywhere else.
- Earn 2.2% interest* and grow your savings balance with the optional savings feature.
Wealthsimple Chequing Account
Wealthsimple
- Monthly fee
- $0
- Included transactions
- Unlimited
- Unlimited Interac included
- Welcome Offer
- $25 cash back
Apply Now
on Wealthsimple's website
- Monthly fee
- $0
- Included transactions
- Unlimited
- Interac e-Transfers
- Unlimited Interac included
- E-statement
- Included
Discover the Wealthsimple Chequing Account, a chequing account with an interest rate of up to 2.25%, with no monthly fees or minimum balance required.
With this welcome offer, you can get $25 cash back as a new Wealthsimple client. To do this, you simply need to open an account and then deposit at least $1 within 30 days.
- You can earn 1.25% interest on your account balance
- Wealthsimple Premium and Generation clients can earn an even higher interest rate of up to 2.25%
- No fees for everyday banking services (e.g. no monthly fee, no FX, ATM, or Interac fees)
- $1M in CDIC coverage (10x the average)
- Deposit cash at any Canada Post location with instant deposits
- Daily Interac e-Transfer limit of up to $25,000
- Earn up to 3.5% interest on your USD savings
Enjoy unlimited transactions and protection for eligible deposits of up to $1,000,000. Open multiple accounts to easily manage your various financial goals.
Welcome offer
$25 cash back
Account details & conditions
- Welcome Offer: $25 cash bonus for any new Wealthsimple client who opens and funds their account with as little as $1 within 30 days
- Interest rate up to 2.25%
- No monthly fees
- No minimum balance required
- Unlimited transactions and free e-transfers
- Deposit protection up to $1,000,000
- Access to multiple accounts for different financial goals
- No credit check necessary
- No conversion fee
Student and newcomer offers
Banks court students and newcomers with waived fees and dedicated bonuses. These accounts often stay free for a set period, which makes the bonus easier to keep. See the full rankings for student chequing accounts and newcomer chequing accounts.
For students
- BMO Performance Student Chequing Account: up to $800 welcome bonus, with no monthly plan fees while in school and for one year after graduation. Offer ends November 3, 2026.
- TD Student Chequing Account: up to $475 in total value. That includes $150 cash when you complete 2 of 4 eligible activities by January 2, 2027, up to $125 with an eligible TD credit card, and a 4% bonus interest rate for 90 days with an eligible TD savings account. Offer ends November 2, 2026.
- Scotiabank Preferred Package for Students and Youth: up to $200 welcome bonus, with no monthly account fee if you are under 25 or a full-time student. Offer ends November 1, 2026.
BMO Performance Student Chequing Account
BMOStudents
- Monthly fee
- $0
- Enjoy no monthy plan fees while in school and one year after graduation*
- Included transactions
- Unlimited
- Unlimited Interac included
- Welcome Offer
- Up to $800 welcome bonus*
- Ends Nov 3, 2026
Apply Now
on BMO's website
- Monthly fee
- $0
- Fee waiver
- Enjoy no monthy plan fees while in school and one year after graduation*
- Included transactions
- Unlimited
- Interac e-Transfers
- Unlimited Interac included
- E-statement
- Included
- Credit card rebate
- $40
With the BMO Student Performance Chequing Account, students can enjoy a bank account with no monthly fees while studying and for up to one year after graduation.
Right now, students get up to $800 in value, including a $200 tech reward from Best Buy.
Plus, enjoy:
- Unlimited transactions and Interac e-Transfer® transactions*
- Up to $40 rebate for eligible BMO credit cards*
- Enjoy no monthly plan fees while in school and up to one year after graduation.
Welcome offer
Up to $800 welcome bonus*
Ends Nov 3, 2026
Account details & conditions
- Students earn up to $800 in value, including a $200 Tech reward from Best Buy.
- Enjoy no monthly plan fees while in school and up to one year after graduation.
- Unlimited transactions per month
TD Student Chequing Account
TDStudents
- Monthly fee
- $0
- Included transactions
- Not specified
- Welcome Offer
- Get up to $475 in total value when you open a TD Student Chequing Account, including $150 cash (by completing 2 of 4 eligible activities by January 2, 2027), up to $125 with an eligible TD credit card, and a 4% bonus interest rate for 90 days with an eligible TD Savings Account. Offer valid until November 2, 2026. Conditions apply.
- Ends Nov 2, 2026
Apply Now
on TD's website
- Monthly fee
- $0
- Included transactions
- Not specified
- Interac e-Transfers
- Not specified
- ATM — bank network
- $0
- ATM — other networks in Canada
- $2
- ATM — United States
- $3
- ATM — international
- $5
- E-statement
- Included
The TD Student chequing account online is made for students:
- 25 free transactions including Interac e-Transfer transactions, then $1.25 per additional transaction
- No monthly fees
For a limited time, get up to $150 when you open a TD Student chequing account.
Welcome offer
Get up to $475 in total value when you open a TD Student Chequing Account, including $150 cash (by completing 2 of 4 eligible activities by January 2, 2027), up to $125 with an eligible TD credit card, and a 4% bonus interest rate for 90 days with an eligible TD Savings Account.
Offer valid until November 2, 2026.
Conditions apply.
Ends Nov 2, 2026
Account details & conditions
- Limited-time offer: get up to $150
- An account designed for both youths and students, with no monthly fee
- Unlimited transactions per month
- No Monthly Fee for Monthly Plan Overdraft Protection service
- Free Interac e-Transfer® transactions
- $0 Monthly Fee (until 23 years old or with proof of enrollment in full-time post-secondary education)
Scotiabank Preferred Package for Students and Youth
ScotiabankStudents
- Monthly fee
- $0
- No monthly account fee if you are under 25 years old or a full-time student
- Included transactions
- Unlimited
- Unlimited Interac included
- Welcome Offer
- Up to $200 welcome bonus
- Ends Nov 1, 2026
Apply Now
on Scotiabank's website
- Monthly fee
- $0
- Fee waiver
- No monthly account fee if you are under 25 years old or a full-time student
- Included transactions
- Unlimited
- Interac e-Transfers
- Unlimited Interac included
- ATM — bank network
- $0
- E-statement
- Included
Right now, when you open a new Scotiabank Preferred Package for Students and Youth, you can get a welcome bonus of up to $200!
To get this $200 bonus, you must first open your account between July 2 and November 1, 2026. Then, you just need to complete 2 of the following 3 activities within 60 days of opening your account:
- Set up at least 1 eligible recurring automatic direct deposit, which will recur monthly for a minimum of 3 consecutive months
- Set up at least 1 eligible recurring pre-authorized transaction, which will recur monthly for a minimum of 3 consecutive months
- Make at least 5 online Visa* Debit purchases with your Scotiabank® Card wherever Visa* Debit is accepted. Only the following types of Visa Debit transactions are eligible: online debit purchases and in-store purchases made outside Canada.
The Scotiabank Preferred Package for Students and Youth has the following key features:
- Unlimited Interac Debit and e-Transfer transactions
- Earn points on your everyday purchases with Scene+
- Free Scotia iTRADE trades for students and youth
- No monthly account fees if you are under 25 or if you are pursuing full-time studies at a post-secondary educational institution in Canada or the United States
Welcome offer
Up to $200 welcome bonus
Ends Nov 1, 2026
Account details & conditions
- Earn up to a $200 welcome bonus when you open a new Preferred Package for Students and Youth*
- Unlimited debit and Interac e-Transfer transactions*
- Earn points on everyday purchases with the Scene+TM program
- Free trades for students and youth with Scotia iTRADETM
- No monthly account fees, you are eligible for the Scotiabank Preferred Package for Students and Youth (chequing account) if you are under 25 years old or if you are enrolled full-time at a university, community college, or another recognized post-secondary institution in Canada or the United States. You will need to confirm your student status by providing proof of enrollment.
For newcomers
- Scotiabank StartRight Program: up to $2,300 in first-year value, with no monthly fee on an eligible chequing account for the first year. Offer ends October 29, 2026.
- BMO Performance Chequing Account for Newcomers: up to $900 cash, with no monthly plan fees for two years. Offer ends November 2, 2026.
- CIBC Smart Account for Newcomers: up to $600 welcome bonus, with no monthly fee for 2 years. No end date published.
Scotiabank StartRight Program
Scotiabank
- Monthly fee
- $16.95/mo
- No monthly fee on an eligible chequing account for the first year*
- Included transactions
- Not specified
- Welcome Offer
- Up to $2,300 in first-year value*
- Ends Oct 29, 2026
Apply Now
on Scotiabank's website
- Monthly fee
- $16.95/mo
- Fee waiver
- No monthly fee on an eligible chequing account for the first year*
- Included transactions
- Not specified
- Interac e-Transfers
- Not specified
The Scotiabank StartRight® Program is designed for newcomers to Canada (permanent residents within their first 5 years, international students, and foreign workers). It offers:
- Up to $2,300 in first-year value (chequing account, credit card, and bundled offers)*
- No monthly fee for the first year on an eligible chequing account, with no minimum balance required*
- A credit card with no Canadian credit history required, with a credit limit of up to $15,000*
- Unlimited no-fee international money transfers*
- Transfer up to $50,000 to an International Account before you arrive*
Welcome offer
Up to $2,300 in first-year value*
Ends Oct 29, 2026
Account details & conditions
The Scotiabank StartRight® Program is designed for newcomers to Canada (permanent residents within their first 5 years, international students, and foreign workers). It offers:
- Up to $2,300 in first-year value (chequing account, credit card, and bundled offers)*
- No monthly fee for the first year on an eligible chequing account, with no minimum balance required*
- A credit card with no Canadian credit history required, with a credit limit of up to $15,000*
- Unlimited no-fee international money transfers*
- Transfer up to $50,000 to an International Account before you arrive*
BMO Performance Chequing Account for Newcomers
BMONewcomers
- Monthly fee
- $17.95/mo
- No monthly plan fees for two years*
- Included transactions
- Unlimited
- Welcome Offer
- Up to $900 cash*
- Ends Nov 2, 2026
Apply Now
on BMO's website
- Monthly fee
- $17.95/mo
- Fee waiver
- No monthly plan fees for two years*
- Included transactions
- Unlimited
- Interac e-Transfers
- Not specified
- E-statement
- Included
- Credit card rebate
- $40
With the BMO Newcomers Performance Chequing Account, you can get up to $900 welcome bonus* and up to 12 months of a Walmart+ membership*:
- $700 for opening a BMO Performance or Premium Plan chequing account by November 2, 2026, setting up a recurring direct deposit of $500 or more by December 31, 2026, and completing eligible banking activities.
- You must complete Step 1 to be eligible for Step 2.*
- Complete one of the following by December 31, 2026*:
- make two (2) bill payments of at least $50 to two (2) different payees through BMO Online Banking or the BMO Mobile Banking app;
- set up two (2) automatic payments of at least $50 to two (2) different payees.
- $150 for opening a Savings Amplifier Account by November 2, 2026 with a deposit of $10,000 or more within 30 days of opening the account, and maintaining an eligible balance to receive the 5.00% promotional interest rate.
- Maintain a daily closing balance of $10,000 or more for 120 calendar days from the deposit date to receive the promotional interest rate of 5.00% on balances up to $1,000,000;
- After the initial 120-day promotional period, continue to maintain a daily closing balance of $10,000 or more for an additional 90 calendar days to be eligible for the $150 cash bonus.
- An additional $50 by creating a goal and applying a strategy in My Financial Progress by December 31, 2026.
- You must complete Step 1 to be eligible for Step 3.*
- Up to 12 months of Walmart+* when you open and fund an eligible BMO account and use your debit card as the payment method on Walmart.ca.
- Open and fund a new BMO Performance, Premium, Practical, or Plus chequing account by November 2, 2026.
- Subscribe or update your existing Walmart+ membership by December 31, 2026, and select the debit card as the payment method.
Also enjoy a promotional interest rate of 5.00% with a BMO Savings Amplifier Account*.
Plus, enjoy:
- Unlimited everyday banking transactions*
- Up to $40 rebate* on eligible BMO credit cards
- Send BMO Global Money Transfer with no fee*: send funds quickly and securely in multiple currencies to nearly 50 destinations.
Welcome offer
Up to $900 cash*
Ends Nov 2, 2026
Account details & conditions
Newcomers can get up to $900* in bonus cash and up to 12 months of a Walmart+ membership*. Plus, they pay no monthly program fees for two years*.
- Get up to $900* plus up to 12 months of Walmart+* when you meet the eligibility criteria.
- Save $742.80 with no monthly fees for two years*
- Get a $60 cash bonus when you rent a safety deposit box*
- Send BMO Global Money Transfer with no fee*
- No monthly plan fees for two years*
- Unlimited transactions*
- Family members in your household get no fee daily banking with the BMO Family Bundle*
- Up to $40 rebate for eligible BMO credit cards*
- OnGuard®† Identity Theft Protection at no charge*
CIBC Smart Account for Newcomers
CIBCNewcomers
- Monthly fee
- $0
- No monthly fee for 2 years
- Included transactions
- Not specified
- Welcome Offer
- Up to $600 welcome bonus*
Apply Now
on CIBC's website
- Monthly fee
- $0
- Fee waiver
- No monthly fee for 2 years
- Included transactions
- Not specified
- Interac e-Transfers
- Not specified
- ATM — bank network
- $0
- E-statement
- Not included
Discover the CIBC Smart Account for Newcomers and pay no monthly fees for two years.
Enjoy unlimited transactions, including Interac e-Transfers, and make online purchases with Visa Debit.
Make one free withdrawal per month at a non-CIBC ATM in Canada and benefit from exclusive cell phone offers with Koodo.
Get instant access to your account by applying online.
Welcome offer
Up to $600 welcome bonus*
Account details & conditions
- No monthly fees for two years
- Unlimited transactions, including Interac e-Transfer
- Visa Debit for online purchases and applications
- One free withdrawal per month at a non-CIBC bank machine in Canada
- Quick online application with instant account access
- Exclusive cell phone offers with Koodo
- Free access to cultural experiences with Canoo
Note that Scotiabank describes its StartRight amount as first-year value, not cash. It combines several benefits, so read the bank's breakdown before you compare it with a cash bonus.
Best savings account welcome rates
Savings accounts rarely pay a cash bonus. Instead, they offer a promotional interest rate for a few months before falling back to the regular rate. Compare them in our ranking of the best savings accounts.
- Scotia High Interest Savings Account: up to 5.00% for 3 months. That top rate combines a 2.20% regular rate, available with a Total Relationship Balance of $500,000 or more, and a 2.80% welcome rate. The account pays no interest when your Total Relationship Balance is under $10,000, and the offer is for new Scotia savings clients only.
- Scotiabank MomentumPLUS Savings Account: 4.65% for 3 months, then a regular rate of 0.40%.
- Simplii Financial High Interest Savings Account: 4.60% for 153 days, then a regular rate of 0.30%. Offer ends October 31, 2026.
- Tangerine Savings Account: 4.50% for 5 months, then a regular rate of 0.30%. Offer ends November 30, 2026.
Scotia High Interest Savings Account
Scotiabank
- Monthly fee
- $0
- Promotional interest
- 5%
- 3 months
- Welcome Offer
- Up to 5.00% for 3 months (2.20% regular rate with a Total Relationship Balance of $500,000+ plus a 2.80% welcome rate); no interest when your Total Relationship Balance is under $10,000; new Scotia HISA/MomentumPLUS clients only (offer verified October 7, 2026)
Apply Now
on Scotiabank's website
- Monthly fee
- $0
- Included transactions
- Not specified
- Interac e-Transfers
- Not specified
- Regular interest
- 2.2%
- Promotional interest
- 5% · 3 months
The Scotiabank High-Interest Savings Account allows you to grow your money with an interest rate that increases with your balance, with no monthly fees.
Interest is calculated daily and paid monthly. Your funds remain accessible at all times, and transfers between your Scotiabank accounts are free.
Welcome offer
Up to 5.00% for 3 months (2.20% regular rate with a Total Relationship Balance of $500,000+ plus a 2.80% welcome rate); no interest when your Total Relationship Balance is under $10,000; new Scotia HISA/MomentumPLUS clients only (offer verified October 7, 2026)
Account details & conditions
- Interest Rate Based on Balance (up to 2.20%)
- No monthly fees
- Funds Accessible at All Times
- Free Transfers Between Your Scotiabank Accounts
- Interest calculated daily, paid monthly
- CDIC Protected
Scotiabank MomentumPLUS Savings Account
Scotiabank
- Monthly fee
- $0
- Promotional interest
- 4.65%
- 3 months
- Welcome Offer
- Get a 4.65% interest rate* for 3 months
Apply Now
on Scotiabank's website
- Monthly fee
- $0
- Included transactions
- Not specified
- Interac e-Transfers
- Not specified
- E-statement
- Not included
- Regular interest
- 0.4%
- Promotional interest
- 4.65% · 3 months
The special offer on the MomentumPLUS Savings Account allows you to grow your money with an interest rate of up to 4.75% for 3 months.
The main features of this account:
- No monthly fees
- No minimum balance required
- Automatic Savings Plan
- Unlimited transfers between accounts
- Virtual check deposit
Welcome offer
Get a 4.65% interest rate* for 3 months
Account details & conditions
- Earn an interest rate of 4.75%* when you pair a Scotiabank Ultimate Package with a MomentumPLUS Savings Account, for 3 months with a 90 day premium period.
- No monthly account fees
- No minimum balance required
- Unlimited self-service transfers
- Save for multiple goals in a single account
- The longer you save, the higher the rate
- Set up an automatic savings plan
Simplii Financial High Interest Savings Account
Simplii Financial
- Monthly fee
- $0
- Promotional interest
- 4.6%
- 5 months
- Welcome Offer
- Earn 4.60% interest for 153 days†
- Ends Oct 31, 2026
Apply Now
on Simplii Financial's website
- Monthly fee
- $0
- Included transactions
- Unlimited
- Interac e-Transfers
- Unlimited Interac included
- E-statement
- Included
- Regular interest
- 0.3%
- Promotional interest
- 4.6% · 5 months
Whatever your savings goal, Simplii makes it easy with the Simplii Financial High Interest Savings Account. Save easily without tying up your money for an extended period. Enjoy an account with no monthly fees, no minimum balance and set up automatic deposits.
For a limited time, earn 4.60% interest† for 153 days (about 5 months) on eligible deposits up to $200,000. The regular rate applies afterward. Limits apply and the offer ends October 31, 2026.
Welcome offer
Earn 4.60% interest for 153 days†
Ends Oct 31, 2026
Account details & conditions
This product is not available for Quebec residents.
Earn 4.60% interest† on eligible deposits for 153 days (about 5 months). Limits apply. Offer ends on October 31, 2026.
Save easily without locking your money for an extended period:
- No monthly fees
- Set up automatic deposits
- No minimum balance required
- Earn great interest rates on every dollar
- Skip the transaction fees
- Access your savings if you need them
Tangerine Savings Account
Tangerine
- Monthly fee
- $0
- Promotional interest
- 4.5%
- 5 months
- Welcome Offer
- Get a 4.50% interest rate for 5 months*. Offer ends November 30, 2026.
- Ends Nov 30, 2026
Apply Now
on Tangerine's website
- Monthly fee
- $0
- Included transactions
- Not specified
- Interac e-Transfers
- Not specified
- E-statement
- Not included
- Regular interest
- 0.3%
- Promotional interest
- 4.5% · 5 months
Until November 30, 2026, you can earn a special interest rate of 4.50% for 5 months† by opening a Tangerine Savings Account!
Here are the main features of the Tangerine savings account:
- No service charges or other fees
- No minimum balance required
- Competitive interest rates
- Interest calculated daily and paid monthly
- Manage your savings via the Tangerine mobile app
The promotional rate applies to new deposits, up to a maximum of $1,000,000.
Regular interest rate of 0.30% with no minimum balance.
Welcome offer
Get a 4.50% interest rate for 5 months*.
Offer ends November 30, 2026.
Ends Nov 30, 2026
Account details & conditions
Save with Tangerine at an attractive interest rate of 4.50% for 5 months.†
A promotional rate only matters for the months it lasts. Our compound interest calculator shows what a deposit earns over a short promo period compared with a full year at the regular rate.
How to compare bank account offers
Count the monthly fee
A big bonus can disappear if you pay the monthly fee all year. Here is what each fee costs over 12 months when you do not keep the minimum balance:
- $16.95 a month: $203.40 a year
- $17.95 a month: $215.40 a year
- $30.95 a month: $371.40 a year
If you can keep the minimum balance without strain, the fee drops to zero. If not, subtract the yearly fee from the bonus before you compare offers. Our guide to bank fees explains the other charges to watch.
Read the activity conditions
Most chequing bonuses require you to do something within a set period, such as set up a recurring direct deposit or pre-authorized payments. TD, for example, asks for 2 of 3 eligible activities before a fixed date. Write down each step and its deadline when you open the account, since missing one can cost the whole bonus.
Check how long to keep the account
Banks often pay the bonus a few months after you meet the conditions, and some ask you to keep the account open for a set time. Closing it early can mean losing the bonus. Read the full terms on the bank's page before you apply. Our guide on how to open a bank account covers the documents you will need.
Conclusion
The best bank account welcome offer depends on whether you can live with a monthly fee. If you keep a high balance, the Scotiabank Preferred Package and the BMO Performance Chequing Account pay the most this month. If you want no fee at all, the Simplii Financial No Fee Chequing Account and the Tangerine No-Fee Daily Chequing Account lead our list. Students and newcomers have dedicated offers with long fee waivers. Watch the end dates: several big offers close between October 29 and November 3, 2026.
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Frequently asked questions about bank account welcome offers
What is a bank account welcome offer?
A welcome offer is a reward a bank gives new clients for opening an account and meeting set conditions. It can be cash, points, a device, or a promotional interest rate on savings. The conditions often include a recurring direct deposit or pre-authorized payments within a set period. You can compare current offers side by side with our chequing account comparison tool, and each account page lists its conditions.
Which bank pays the largest chequing bonus this month?
As of October 18, 2026, the Scotiabank Preferred Package and the Scotiabank Ultimate Package both offer up to $1,000, ending October 29, 2026. For newcomers, the Scotiabank StartRight Program advertises up to $2,300 in first-year value, which is not the same as cash. Always weigh the bonus against the monthly fee. Our ranking of the best chequing accounts compares fees and features.
Is a welcome bonus worth it if the account has a monthly fee?
It can be, if you keep the minimum balance that waives the fee. Without it, a $16.95 monthly fee costs $203.40 a year, and a $30.95 fee costs $371.40 a year. Subtract that from the bonus to see what you really gain. If you would not keep the balance, a no-fee account with a smaller bonus may leave you with more. See our guide to the best no-fee chequing accounts.
Are promotional savings rates worth chasing?
A promotional rate helps if you have cash to park for the length of the promo, such as an emergency fund. After 3 to 5 months, the rate drops to the regular rate, which can be as low as 0.30% in our catalogue. Plan to move the money or accept the lower rate afterward. Our emergency fund calculator helps you size that savings cushion.
Is my money protected in these accounts?
Eligible deposits at member institutions are covered by the Canada Deposit Insurance Corporation (CDIC) up to $100,000, including principal and interest, in each eligible category. Check that the institution is a CDIC member before you deposit large sums. Our banking hub explains how deposit insurance works with different account types.
How often do bank account welcome offers change?
Banks update offers often, and many carry a fixed end date. This page reflects our catalogue as of October 18, 2026, and we refresh it every month. Before you open an account, confirm the current terms on the bank's own page. The CDIC site also lists what deposit insurance covers and what it does not.
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