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Best New Bank Account Offers in March 2023

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{“menuItems”:[{“label”:”Jump to new account offers for…”,”anchorName”:”#jump-to-new-account-offers-for”},{“label”:”BMO promotion”,”anchorName”:”#bmo”},{“label”:”RBC new account offers”,”anchorName”:”#rbc”},{“label”:”Scotiabank new account offer”,”anchorName”:”#scotiabank”},{“label”:”National Bank promotions”,”anchorName”:”#national-bank”},{“label”:”CIBC new account offer”,”anchorName”:”#cibc”},{“label”:”TD promotions for new accounts”,”anchorName”:”#td”},{“label”:”Tangerine promotion for new accounts”,”anchorName”:”#tangerine”},{“label”:”EQ Bank promotions”,”anchorName”:”#eq”},{“label”:”Prepaid card offers”,”anchorName”:”#prepaid”},{“label”:”What to consider when comparing new bank account offers”,”anchorName”:”#what-to-consider-when-comparing-new-bank-account-offers”},{“label”:”How to get a new bank account offer”,”anchorName”:”#how-to-get-a-new-bank-account-offer”},{“label”:”Frequently asked questions”,”anchorName”:”#frequently-asked-questions”}]}Looking for new bank account offers? Here’s our latest roundup of the best bank promotions in Canada.Best new bank account offers in March 2023Best chequing account promotionsRBC Signature No Limit Banking Account: Get $350 when you open a Signature No Limit Banking account. Valid until May 1, 2023.BMO Performance Chequing Account: Earn $350 with a Performance Chequing Account. Plus, get an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until April 30, 2023. You can also earn a 5% bonus interest rate when you add a Savings Amplifier Account.Scotiabank Preferred Package: Earn a $350 welcome bonus. Conditions apply. Valid until April 30, 2023. Plus, earn a limited-time savings rate on your MomentumPLUS Savings Account.Scotiabank Student Banking Advantage Plan: Earn up to 12,500 Scene+ points ($125 value) with the Scene+ Student Banking Bundle. Apply by April 30, 2023.Best savings account promotionsScotiabank MomentumPLUS Savings Account: With the MomentumPLUS Savings Account, you can earn a savings rate of up to 5.00% for 5 months.CIBC eAdvantage Savings Account: Get a Smart Interest of 0.50% on balances up to $200,000 when you save $200 or more in a month (limits apply)RBC High Interest eSavings Account: Earn 4.6% interest for 3 Months when you open your first RBC High Interest eSavings account. Valid until April 21, 2023Jump to new account offers for…BMO promotionWith a BMO new account offer, you can score big bonuses and save on fees — even more so if you open accounts for family members. If you’re after a BMO chequing account offer or BMO savings account promotion, here’s what you can currently get.

BMO Performance Chequing Account




Earn $350 with a Performance Chequing Account. Plus, get an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until April 30, 2023. You can also earn a 5% bonus interest rate when you add a Savings Amplifier Account.

Account details

Monthly fee $16.95 Waiver 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




Earn $350 when you open a Premium Chequing Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until April 30, 2023.

Account details

Monthly fee $30 Waiver fee is waived each month if you keep at least $6,000 in your account 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 April 30, 2023.

Account details

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

RBC new account offersThese are the RBC new account offers currently available for all Royal Bank chequing and savings accounts.

RBC Signature No Limit Banking Account




Get $350 when you open a Signature No Limit Banking account. Valid until May 1, 2023.

Account details

Monthly fee $16.95 Waiver Through RBC’s Value 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)




Get $350 when you open a VIP Banking account. Valid until May 1, 2023.

Account details

Monthly fee $30 Waiver through RBC’s Multi Product Rebate program, pair this account with 2 other eligible RBC accounts in the same geographic region and get cashback for some or all of your monthly fees – 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 $100 when you open an account and complete one of several eligible account actions. Valid until May 31, 2023.

Account details

Monthly fee $0 Interest rate 0.01% Transactions unlimited Interac e-transfers unlimited Non-network ATM in Canada $0

RBC High Interest eSavings Account




Earn 4.6% interest for 3 Months when you open your first RBC High Interest eSavings account. Valid until April 21, 2023

Account details

Interest rate 1.5% Minimum balance $0 Monthly fee $0 Transactions $5.00

RBC Leo’s Young Savers Account




Get up to $95 in value when you open an RBC Leo’s Young Savers Account for your child. Apply by March 31, 2023.

Account details

Interest rate 0.01% Minimum balance $0 Monthly fee $0 Transactions 15 free debits Highlights Get up to $95 in value when you open an RBC Leo’s Young Savers Account for your child. Apply by March 31, 2023.

Scotiabank new account offerCheck out these current Scotiabank offers for chequing and savings accounts.

Scotiabank Ultimate Package




Get a welcome bonus of $350. Conditions apply. Valid until April 30, 2023.

Account details

Monthly fee $30.95 Waiver 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 transactionsUnlimited free Global non-Scotiabank ABM withdrawals (Terms apply)Up to $139 annual fee waiver each year on select credit cardsNo monthly Overdraft Protection feeUltimate rates on select GICsYour choice of SCENE or Scotia Rewards points programs10 free equity trades at Scotia iTRADE in your first year (approximately $100 value), and 5 free equity trades every year afterFree personalized cheques and drafts$60 annual fee waiver (equivalent to a small safety deposit box)

Scotiabank Preferred Package




Earn a $350 welcome bonus. Conditions apply. Valid until April 30, 2023. Plus, earn a limited-time savings rate on your MomentumPLUS Savings Account.

Account details

Monthly fee $16.95 Waiver 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 transactionsFee waived on one non-Scotiabank ABM withdrawal per month in CanadaFirst year annual fee waiver (up to $139) on select credit cardsGet $1.99 international money transfers with Scotia International Money TransferGet up to a $139 annual fee waiver each year on select credit cardsPreferred rates on select GICsChoice of SCENE or Scotia Rewards points programs

Scotiabank Student Banking Advantage Plan




Earn up to 12,500 Scene+ points ($125 value) with the Scene+ Student Banking Bundle. Apply by April 30, 2023.

Account details

Monthly fee $0 Waiver Must be currently enrolled full time in a post-secondary institution in Canada or the US (Available to domestic or international students). Interest rate 0% Transactions unlimited Interac e-transfers $0 Non-network ATM in Canada $2 Highlights Unlimited debit transactions and Interac e-Transfer transactionsEarn rewards on debit transactionsChoose between the SCENE and Scotia Rewards reward programs

Scotiabank MomentumPLUS Savings Account




With the MomentumPLUS Savings Account, you can earn a savings rate of up to 5.00% for 5 months.

Account details

Interest rate 0.85% – 1.1% Minimum balance $0 Monthly fee $0 Transactions $5.00 Highlights Earn interest at the regular rate of 1.5% plus a bonus rate of 0.85% – 1.1% when you go 90, 180, 270 or 360 days without a debit transaction.

Scotiabank Savings Accelerator Account




Earn up to 4.05% interest until April 30, 2023 on new deposits in your eligible RRSP or TFSA with the Savings Accelerator Account.

Account details

Interest rate 1.4% – 0.8% Minimum balance $0 Monthly fee $0 Transactions Free Scotiabank transfers, other transactions cost money Highlights The Scotiabank Savings Accelerator Account is a very basic savings account that lets you earn up to 1.4% on your savings (or 1.5% if you have a balance over $250,000). There are no minimum deposit requirements and you won’t have to pay monthly fees to keep your account active. Non-registered plans: Earn 1.4% for balances up to $249,999, or 1.5% for balances of $250,000+.Registered plans (incl. TFSAs): Earn 0.75% for balances up to $249,999, or 0.8% for balances of $250,000+.

National Bank promotionsHere are National Bank offers currently available for chequing and savings accounts.

National Bank Connected Account




Get $30 towards an eligible National Bank credit card you activate after opening a National Bank Connected Account.

Account details

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

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.

Account details

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 Unlimited Non-network ATM in Canada $0

CIBC new account offerLooking for a CIBC chequing account promotion or CIBC savings account promotion? Here’s what’s currently available.




Get up to $400 and pay no monthly fee for 3 months when you open your first chequing account. Offer valid until April 28, 2023.

Account details

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.




Get up to $400 and pay no monthly fee for 3 months when you open your first chequing account. Offer valid until April 28, 2023.

Account details

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




Get up to $150 when you open an account and complete up to 3 eligible account actions. Valid until April 28, 2023.

Account details

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

CIBC eAdvantage Savings Account




Get a Smart Interest of 0.50% on balances up to $200,000 when you save $200 or more in a month (limits apply)

Account details

Interest rate 1.9% – 1.4% Minimum balance $0 Monthly fee $0 Transactions $5.00 Balances up to $200,000 earn 1.4% + 0.5% bonus interest for a total rate of 1.9%. Balances over $200,000 earn interest at the regular rate of 1.4%.

TD promotions for new accountsIf you’re not already a TD Bank customer, you may be able to get cash bonuses, gift cards or other perks with a TD new account offer. Here are the TD Bank promotions available now.

TD Unlimited Chequing Account




Account details

Monthly fee $16.95 Waiver maintain a minimum balance to receive monthly fee rebate. Transactions unlimited Interac e-transfers unlimited Non-network ATM in Canada $0

TD All-Inclusive Banking Plan




Get up to $400 when you open a TD All-Inclusive Banking Plan. Valid until May 31, 2023.

Account details

Monthly fee $29.95 Waiver Maintain a 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 Student Chequing Account

Get a $100 Amazon.ca Gift Card when you open a new TD Student Chequing Account. Conditions apply. Valid until May 31, 2023.

Account details

Monthly fee $0 Interest rate 0.01% Transactions Free and unlimited Interac e-transfers Unlimited Non-network ATM in Canada $2

Tangerine promotion for new accountsYou can save some serious cash with a Tangerine promotion, which often comes with bonus money or an extra high interest rate on your savings. If you’re on the hunt for a Tangerine new account offer or a Tangerine savings account promotion, here’s what’s available now.

Tangerine No-Fee Daily Chequing Account




Sign up using promo code EARNMORE and earn up to $400 cash back and a 4.50% savings rate. Valid until March 30, 2023

Account details

Monthly fee $0 Transactions unlimited Interac e-transfers $0 Non-network ATM in Canada $1.50

Tangerine Savings Account




Sign up using promo code EARNMORE and earn up to $400 cash back and a 4.50% savings rate. Valid until March 30, 2023

Account details

Interest rate 1% Minimum balance $0 Monthly fee $0 Transactions $0




Sign up using promo code EARNMORE and earn up to $400 cash back and a 4.50% savings rate. Valid until March 30, 2023

Account details

Interest rate 1% Minimum balance $0 Monthly fee $0 Transactions $0




Sign up using promo code EARNMORE and earn up to $400 cash back and a 4.50% savings rate. Valid until March 30, 2023

Account details

Interest rate 1% Minimum balance $0 Monthly fee $0 Transactions $0

EQ Bank promotionsEQ Bank regularly offers low fees and high savings account interest rates compared to major banks, so you won’t come across EQ promotions frequently. But if you want a spending and saving account that pays 2.5% interest and comes with $0 monthly fees and $0 transactions, check out the EQ Bank Savings Plus Account.Prepaid card offersA prepaid credit card can be used to pay for purchases online and in store. Unlike a regular credit card, you can only spend what you’ve loaded onto the card. There are no interest payments, and often you can get cash back.




30 day free trial (First month fee waived – a value of $9.00)

Account details

Monthly fee $9 Rewards 2% cash back on groceries, eating and drinking and bills and services, and 0.5% cash back on all other purchases Transactions $0 Minimum balance $0 ATM network Cirrus network Foreign transaction fee 0%

KOHO Easy Prepaid Mastercard




Refer a friend and both of you will earn $20 each once your referral makes their first purchase within 30 days of signing up. Users are able to refer up to 50 friends allowing to earn up to $1000 in referral cash bonuses.

Account details

Monthly fee $0 Rewards 1% cash back rewards on groceries, billing and services Transactions $0 Minimum balance $0 ATM network Cirrus network Foreign transaction fee 1.5%

KOHO Essential Prepaid Card




30-day free trial (first month fee waived – a value of $4)

Account details

Monthly fee $4 Rewards Earn 1% cashback on groceries, bills and services, and eating and drinking – and collect 0.25% on everything else. Plus, earn 1.5% interest on the balance you store on your card. Transactions $0 Minimum balance $0 ATM network Cirrus network Foreign transaction fee 1.5%

CIBC AC Conversion Visa Prepaid Card




Earn 1% cashback on every dollar you spend for a limited time.

Account details

Monthly fee $0 Rewards offers a 1% cashback return on purchases for a limited time when you sign up Transactions $0 Minimum balance $0 ATM network CIBC network Foreign transaction fee 0%




Try the Mydoh Smart Cash Card for kids with a free 30-day trial.

Account details

Monthly fee $2.99 Rewards Enjoy a free 1-month trial when you sign up today and, for a limited time, get $15 added to your Mydoh account. Transactions $0 Minimum balance $0 ATM network N/A Foreign transaction fee 2.5%

What to consider when comparing new bank account offersNew bank account offers come with attractive perks, but switching accounts may not be right for you. Here are a few things to think about:What are the new account’s ongoing fees and features? Don’t let offers to open a new bank account distract you from an account’s ongoing fees and features. Are there fees for transactions, transfers, account maintenance or ATM usage? Is there a mobile banking app? Does the bank operate solely online or are there branches you can go to for in-person service?When does the new bank account offer end? Bank promotions in Canada come and go. New account offers may only last a few months. It’s good to carefully consider your options, but don’t take took long, or you might miss out on a great bonus.Are you satisfied with your current bank? It may worth switching banks if your current bank doesn’t offer good service or if a another bank offers better accounts and products for your needs.Is it easy to open a new account? It’s usually pretty easy to open a bank account online, although some banks have branches where you can get help in person.How to get a new bank account offerTo 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:Compare new bank account offers. Compare rewards and bonuses for new account holders. Also look at ongoing fees, features and minimum balance requirements (if any) for any accounts you’re interested in opening.Apply for an account. It’s easy to apply for a bank account online. Visit the bank’s website, and apply to open an account by providing information like your name, contact details, basic employment info, Social Insurance Number (SIN) and your reason for opening an account (i.e. spending, saving, investing).Submit proof of ID. Upload a copy of valid, government-issued ID like a driver’s license, passport or Permanent Resident card. If you don’t have photo ID, learn more about your options here.Start using your account. Once approved, you’ll likely have immediate access to your online account and can register for online and mobile banking. You’ll receive your debit card in the mail shortly.Get your new account benefits! After satisfying all the requirements of your new account offer, you’ll get your reward or bonus. Some bank promotions in Canada require a minimum deposit or several months of using direct deposit or bill payment features before you can receive a new account bonus.Frequently asked questions

What are the best chequing account offers in Canada?

Here are some of the best chequing account promotions in Canada as of March 2023:RBC Signature No Limit Banking Account: Get $350 when you open a Signature No Limit Banking account. Valid until May 1, 2023.BMO Performance Chequing Account: Earn $350 with a Performance Chequing Account. Plus, get an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until April 30, 2023. You can also earn a 5% bonus interest rate when you add a Savings Amplifier Account.Scotiabank Preferred Package: Earn a $350 welcome bonus. Conditions apply. Valid until April 30, 2023. Plus, earn a limited-time savings rate on your MomentumPLUS Savings Account.

What is the best savings account promotion in Canada?

Here are some of the best savings account promotions as of March 2023:Scotiabank MomentumPLUS Savings Account: With the MomentumPLUS Savings Account, you can earn a savings rate of up to 5.00% for 5 months.CIBC eAdvantage Savings Account: Get a Smart Interest of 0.50% on balances up to $200,000 when you save $200 or more in a month (limits apply)RBC High Interest eSavings Account: Earn 4.6% interest for 3 Months when you open your first RBC High Interest eSavings account. Valid until April 21, 2023

Are there any student bank account offers in Canada?

Special offers for student bank accounts include:Scotiabank Student Banking Advantage Plan: Earn up to 12,500 Scene+ points ($125 value) with the Scene+ Student Banking Bundle. Apply by April 30, 2023.CIBC Smart for Students: Get up to $150 when you open an account and complete up to 3 eligible account actions. Valid until April 28, 2023.TD Student Chequing Account: Get a $100 Amazon.ca Gift Card when you open a new TD Student Chequing Account. Conditions apply. Valid until May 31, 2023.

Are new bank account offers available if I already have an account?

New bank account offers don’t usually apply to people who already have the accounts being promoted. Bank promotions in Canada are account specific, so existing customers can typically take advantage of new bank account offers as long as they don’t already have the account to which the offer applies.

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