Bank account promotions can be lucrative for new customers. While many chequing account offers include cash rewards, gift cards, or waived fees, some include gifts such as a new iPad or other types of merchandise. If you’re in the market for a new chequing account, check out the most current chequing account promotions:
Best chequing account offers for July 2024
BMO Performance Chequing Account:Get up to a $600 cash bonus. Earn $350 when you open a new BMO Performance Chequing Account and $200 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2024. Plus, earn a 5.50% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
Simplii No Fee Chequing Account:Earn $400 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends October 31, 2024.
Scotiabank Preferred Package:Earn a welcome bonus of up to $400. Earn $350 when you complete two banking steps, earn $50 when you open a new RRSP or TFSA and set up and maintain a recurring pre-authorized contribution of at least $50 for a minimum of 3 months. Valid until July 31, 2024.
RBC Signature No Limit Banking Account: Get the new iPad when you switch to RBC & open an RBC Signature No Limit Banking Account. Valid until August 13, 2024.
Tangerine No-Fee Daily Chequing Account:Earn up to $250. Open a No-fee daily Chequing Account and switch your payroll deposits to your new Tangerine Chequing Account for 2 consecutive months to receive $250.
CIBC Smart Account:Get a $600 cash offer when you open a CIBC Smart Account as your first chequing account, then open your first CIBC eAdvantage Savings Account in the same calendar month and complete the qualifying actions within 2 months.
TD Unlimited Chequing Account:Earn a $600 welcome bonus. Complete three banking steps to earn $400, and earn $200 when you deposite $10,000 into the new eligible Savings Account within 30 days of account opening and maintain the balance for 150 days. Offer ends September 26, 2024.
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BMO offers
BMO is one of the original Big Five Banks in Canada. As a traditional bank with a strong commitment to online service, BMO will often run new customer promotions for those looking to open a chequing account. Here are the latest BMO promotions.
BMO Performance Chequing Account
Get up to a $600 cash bonus. Earn $350 when you open a new BMO Performance Chequing Account and $200 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2024. Plus, earn a 5.50% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
The monthly account fee will be waived if you maintain a minimum monthly balance of at least $4,000.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
Highlights
monthly fee is waived for members of the Canadian Defence Community
BMO Premium Plan Chequing Account
Get up to a $600 cash bonus. Earn $350 when you open a new BMO Premium Plan Chequing Account and $200 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until October 31, 2024. Plus, earn a 5.50% bonus interest rate when you add a Savings Amplifier Account.
Monthly account fee waived if you keep a balance of at least $6,000 in your account each month.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
free overdraft protection
BMO Plus Chequing Account
Earn $100 when you open an account and setup recurring deposits and bill payments. Valid until October 31, 2024.
Monthly fee
$11.95
Waiver
If you keep at least $3,000 in your account each month, you can get the monthly fee waived.
Interest rate
0%
Transactions
25/month
Interac e-transfers
$0
Non-network ATM in Canada
$2
Simplii promotions
Affiliated with CIBC, Simplii is a well-established online bank in Canada that regularly offers incentives for new account openings. Check out these current Simplii offers:
Simplii No Fee Chequing Account
Earn $400 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends October 31, 2024.
Zero monthly fees. Earn interest. Welcome bonus. Free transactions. No minimum balance.
Coast Capital promotions
Coast Capital is one of the largest credit unions in Canada. Based in British Columbia, it offers access to multiple types of chequing accounts and a variety of savings accounts. Here are the current offers from Coast Capital credit union:
RBC chequing account promotions
RBC is part of the Big Six Banks club — a list of large, traditional Canadian banks that make up the banking pillar of the Canadian financial system. As a large, well-established bank, RBC offers a number of promotions throughout the year for new and returning clients. Here are the current RBC chequing account promotions:
RBC Signature No Limit Banking Account
Get the new iPad when you switch to RBC & open an RBC Signature No Limit Banking Account. Valid until August 13, 2024.
Through RBC's Multi Rebate program, pair this account with other eligible RBC accounts and save up to $11.95 per month. Only pay $10.95/month for this account with 2 other eligible RBC products.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
Highlights
5 free cross-border debits per month ($1.00 each afterwards)
RBC VIP Banking Account
Get an iPad when you switch to RBC & open an RBC VIP Banking Account. Valid until August 13, 2024.
Through RBC’s Multi Product Rebate program, pair this account with 2 other eligible RBC accounts and get cashback for some or all of your monthly fees – for example, only pay $19.95/month for this account.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
free cross-border debit transactions, free RBC VIP Style personalized cheques and up to 2 additional Canadian dollar accounts and 1 U.S. dollar account
RBC Advantage Banking for Students
Get up to $330 in value. Valid until October 31, 2024.
Monthly fee
$0
Interest rate
0%
Transactions
unlimited
Interac e-transfers
unlimited
Non-network ATM in Canada
$0
Tangerine promotions
As an online bank, Tangerine usually offers new customers cashback promotions. Here are the current Tangerine chequing account promotions:
Tangerine No-Fee Daily Chequing Account
Earn up to $250. Open a No-fee daily Chequing Account and switch your payroll deposits to your new Tangerine Chequing Account for 2 consecutive months to receive $250.
Monthly fee
$0
Interest rate
0.01%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$1.50
Scotiabank promotions
Scotiabank is part of the Canadian Big Five Banks list. As a large, traditional bank, Scotiabank will run promotions to attract new customers to specific products, including their day-to-day bank products, such as chequing accounts. Here are the current chequing account promotions from Scotiabank:
Scotiabank Ultimate Package
Earn a welcome bonus of up to $400. Valid until July 31, 2024.
Monthly account fee waived if you have at least $5,000 in your account at all times, or a combined balance of $30,000 across your Ultimate Package and your MomentumPLUS Savings Account.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
Unlimited debit transactions & Interac e-Transfer transactions Unlimited free Global non-Scotiabank ABM withdrawals (Terms apply) Up to $139 annual fee waiver each year on select credit cards No monthly Overdraft Protection fee Ultimate rates on select GICs Your choice of SCENE or Scotia Rewards points programs 10 free equity trades at Scotia iTRADE in your first year (approximately $100 value), and 5 free equity trades every year after Free personalized cheques and drafts $60 annual fee waiver (equivalent to a small safety deposit box)
Scotiabank Preferred Package
Earn a welcome bonus of up to $400. Earn $350 when you complete two banking steps, earn $50 when you open a new RRSP or TFSA and set up and maintain a recurring pre-authorized contribution of at least $50 for a minimum of 3 months. Valid until July 31, 2024.
The monthly account fee will be waived if you have at least $4,000 in your account at all times.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
Highlights
Unlimited debit transactions & Interac e-Transfer transactions Fee waived on one non-Scotiabank ABM withdrawal per month in Canada First year annual fee waiver (up to $139) on select credit cards Get $1.99 international money transfers with Scotia International Money Transfer Get up to a $139 annual fee waiver each year on select credit cards Preferred rates on select GICs Choice of SCENE or Scotia Rewards points programs
Scotiabank Student Banking Advantage Plan
Earn up to a $100 welcome cash bonus and 7,500 Scene+ points when you open an account. Apply by October 31, 2024.
Unlimited debit transactions and Interac e-Transfer transactions Earn rewards on debit transactions Choose between the SCENE and Scotia Rewards reward programs
National Bank promotions
National Bank is the last of the traditional banks to join the Big Six Banks list. To gain a competitive edge, Natioanl Bank will frequently run chequing account promotions in order to attract new customers. Here are the current National Bank chequing account promotions:
National Bank The Total Chequing Account
Get $150 towards an eligible National Bank credit card you activate after opening a National Bank The Total Chequing Account.
Monthly fee
$28.95
Waiver
The monthly fee on this account is waived if you maintain a balance of $6,000 or higher.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
National Bank Connected Account
Get $30 towards an eligible National Bank credit card you activate after opening a National Bank Connected Account.
Monthly fee
$15.95
Waiver
if you're aged 24–59 and your balance is less than $4,500, a $15.95 monthly fee applies
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
CIBC promotions
CIBC is a large, traditional bank with customers across Canada. New customers can expect CIBC promotions for a variety of accounts. Here are the current CIBC chequing account promotions:
CIBC Smart Account
Get a $600 cash offer when you open a CIBC Smart Account as your first chequing account, then open your first CIBC eAdvantage Savings Account in the same calendar month and complete the qualifying actions within 2 months.
Monthly fee
$16.95
Waiver
The monthly fee is waived if you have a minimum of $4,000 in your CIBC chequing account.
Transactions
Unlimited
Interac e-transfers
Free
Non-network ATM in Canada
$2
Highlights
The lowest monthly fee is $6.95 for 12 transactions and the highest monthly fee is $16.95 for 20 or more transactions.
CIBC Smart Plus Account
Get a $600 cash offer when you open a CIBC Smart Plus Account as your first chequing account, then open your first CIBC eAdvantage Savings Account in the same calendar month and complete the qualifying actions within 2 months.
Monthly fee
$29.95
Waiver
Fee will be waived if account holders have $6,000 in the Smart Plus Account or $100,000 in eligible savings and investments
Transactions
unlimited
Interac e-transfers
Unlimited
Non-network ATM in Canada
$0
Highlights
Free ATM withdrawals in Canada, the U.S. and internationally, as well as personalized cheques, money orders and overdraft protection at no additional cost
CIBC Smart for Students
Get $100 when you open an account and make five Visa Debit purchases online within two months (purchases must be made in the same month). Terms & conditions apply.
Monthly fee
$0
Transactions
unlimited
Interac e-transfers
unlimited
Non-network ATM in Canada
$2
Highlights
free SPC membership (worth $10), which gives you discounts at over 450 in-store and online partner brands
TD Bank offers
Quite often, TD Bank will offer cash bonuses and gift cards, among other perks, to new customers. Learn more about TD chequing account promotions currently in the market:
TD All-Inclusive Banking Plan
Get up to $600 when you open a TD All-Inclusive Banking Plan. Valid until September 26, 2024.
Monthly fee
$29.95
Waiver
Maintain a $5,000 minimum balance to receive monthly fee rebate.
Transactions
unlimited
Interac e-transfers
free, unlimited
Non-network ATM in Canada
$0
Highlights
annual rebate on select TD credit cards
TD Unlimited Chequing Account
Earn a $600 welcome bonus. Complete three banking steps to earn $400, and earn $200 when you deposite $10,000 into the new eligible Savings Account within 30 days of account opening and maintain the balance for 150 days. Offer ends September 26, 2024.
Monthly fee
$16.95
Waiver
maintain a $4,000 minimum balance to receive a monthly fee rebate.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
TD Student Chequing Account
Earn up to $445 in value when you open a new TD Student Chequing Account. Valid until October 31, 2024
Romana King was the Canada group editor at Finder and a personal finance expert. As an award-winning personal finance writer and real estate expert, she has spent almost two decades helping Canadians make smarter money management decisions. Her first book, House Poor No More: 9 Steps That Grow the Value of Your Home and Net Worth, launched in November 2021, continues to be an Amazon bestseller and won the Excellence in Financial Journalism Book Award in 2022. See full bio
Romana's expertise
Romana has written 35 Finder guides across topics including:
Learn how to write a cheque in Canada in 6 simple steps. Find out what each cheque field means, how to fix mistakes and how to void a cheque.
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