What is the best bank bonus in Canada in 2026?

The top no-fee bank bonus is the card's $100 cash with referral code BREMO2026. The top overall bonus is Simplii Financial's $400 cash promotion with no annual fee.

Can you get multiple bank bonuses?

Yes. Since each bonus requires a different institution, you can stack bonuses from a no-fee card, Simplii, Scotiabank, TD, and Wealthsimple simultaneously for $600+ total.

Blog · Updated March 2026

Best Canadian Bank Bonuses 2026: Up to $500+ Free

Q: Are bank signup bonuses taxable in Canada?

Generally no — CRA treats bank signup bonuses as non-taxable rebates, not income. However, savings account interest (like EQ Bank's 3.75%) is taxable and generates a T5 slip.

The complete, updated guide to every bank signup bonus in Canada right now. Stack multiple offers and earn $600+ in free cash this year — with zero gimmicks.

By Bremo Research Team · Last updated: March 26, 2026 · 8 min read

No-Fee Banking

Open a no-fee KOHO account. Use code BREMO2026 for a welcome bonus.

Open KOHO Free →

Quick Summary: Best Bonuses Right Now

💰 Top 5 Canadian Bank Bonuses — March 2026

Simplii Financial — Best overall cash bonus$400

TD Bank — Best big bank bonus$400 (net $367)

Scotiabank — Best for ongoing perks$350 (net $299)

KOHO — Best no-fee, no-conditions bonus$100

Wealthsimple — Best investing bonus$25

Total available (stack all five)$1,192

All Bank Bonuses Ranked (2026)

#1 Best No-Fee

KOHO — $100 Cash Bonus

$40 sign-up bonus (spend $20 to unlock) · No fees · No credit check

$0 monthly fee No conditions Instant approval Prepaid Mastercard

KOHO is the easiest $100 in Canada. Open a free account using referral code BREMO2026, make one purchase, and get $100 deposited within 2–4 weeks. No monthly fee. No minimum balance. No credit check. Plus 1% cashback on every purchase forever — that's $360/year on average Canadian spending of $3,000/month.

Get KOHO — code BREMO2026 →

#2 Best Cash Bonus

Simplii Financial — $400 Cash Bonus

$400 free · No annual fee

$0 monthly fee Direct deposit required 3 months to qualify

Simplii (CIBC's no-fee brand) periodically offers $400 for new chequing account customers. Requirement: set up direct deposit of at least $100/month for 3 consecutive months. Zero monthly fees. Full CDIC deposit insurance. Promotion timing varies — check current offer at Simplii's website. When active, this is the highest pure-cash no-fee bonus in Canada.

Check Simplii Offer →

#3 Best Big Bank

TD Bank — Up to $400 (Net ~$367)

Up to $400 · Small fee applies

$10.95/mo fee Hold 3 months ~$367 net profit

TD offers up to $400 for new All-Inclusive Chequing account holders who keep the account open for 3 months. Monthly fee is $16.95 (waived if $5,000+ balance), so worst-case cost is ~$33 for 3 months if you don't maintain balance. Net profit: ~$367. TD's bonus requires making 5 qualifying transactions. Best offer is via TD's website or a branch visit.

Check TD Bank Offer →

#4 Best For Ongoing Value

Scotiabank — Up to $350 (Net ~$299)

Up to $350 · Small fee applies

$16.95/mo fee Hold 3 months ~$299 net profit

Scotiabank's Preferred Package promotion offers up to $350 cash. Monthly fee is $16.95 (waived at $4,000+ balance). 3-month hold period. Also get Scene+ points earning, unlimited transactions, free Interac e-Transfers, and a free safety deposit box waiver. Net profit after worst-case fees: ~$299. Scotiabank's network (1,000+ branches) adds ongoing value beyond the bonus.

Check Scotiabank Offer →

#5 Best Investing Bonus

Wealthsimple — $25 Cash + Free Trades

$25 bonus · Commission-free investing

$0 fees $1+ deposit required Referral required

Wealthsimple gives $25 for new accounts funded with any amount. Commission-free stock and ETF trading. CIPF-protected. Open an account, deposit $1+, make one trade, and receive $25 within a few days. Wealthsimple also offers a high-interest cash account (4%+) and a TFSA/RRSP investment account with no management fee on the basic plan.

Check Wealthsimple Offer →

Full Comparison Table

Bank	Bonus	Monthly Fee	Net Profit	Effort	Time to Bonus
KOHO	$100	$0	$100	1 purchase	2–4 weeks
Simplii Financial	$400	$0	$400	Direct deposit 3×	~4 months
TD Bank	$400	$0–$33	$367–$400	5 transactions	~5 months
Scotiabank	$350	$0–$51	$299–$350	Hold account	~4 months
Wealthsimple	$25	$0	$25	1 trade	Few days
All 5 combined	$1,275	$0–$84	$1,191+	Stack all	5 months

How to Stack All Bonuses (Step-by-Step)

These offers don't conflict with each other — you can claim all of them simultaneously:

Week 1: Open KOHO (instant, use code BREMO2026), make one purchase. KOHO is your primary spending card going forward. $100 arrives in 2–4 weeks.

Week 2: Open Simplii (free) and TD Bank accounts. Set up your employer's payroll to split direct deposit between them for 3 months. Or set up a $100/month auto-transfer from another account.

Week 3: Open Scotiabank and make 5 transactions within the first month. Wealthsimple: deposit $1, buy one share of XEQT, collect $25.

Month 4–5: All bonus criteria met. Close or downgrade Scotiabank/TD if you don't want to continue paying fees. Keep KOHO and Simplii — both are free forever.

Total effort: ~2 hours spread over 5 months. Total reward: $1,000–$1,200.

Frequently Asked Questions

Are bank signup bonuses taxable in Canada?

Generally no. The CRA treats bank signup bonuses as non-taxable rebates or incentives — not employment income or investment income. Cashback (like KOHO's 1%) is also non-taxable. The exception: savings account interest (like EQ Bank's 3.75%) IS taxable and you'll receive a T5 slip for interest over $50. Consult a tax professional if your situation is complex.

Can I close the bank account after getting the bonus?

For no-fee accounts (KOHO, Simplii), there's no reason to close — keep them. For fee-bearing accounts (Scotiabank, TD), wait until all bonus criteria are met (typically 90 days after the qualifying period ends), then downgrade to a free tier or close. Closing too early may claw back the bonus. Always read the current offer's terms.

Do I need good credit to get these bonuses?

KOHO: no credit check at all. Simplii, TD, Scotiabank: typically soft credit pull only (doesn't affect your score). Wealthsimple: no credit check. None of these offers require good credit — they're for chequing/prepaid accounts, not credit cards.

Are there other bonuses not listed here?

Yes — BMO occasionally offers bonuses ($300–$400), CIBC runs periodic promotions, and RBC has been offering newcomer bonuses. EQ Bank doesn't offer a signup bonus per se but pays 3.75% on savings with no conditions. Check our all bank bonuses page for the complete and current list.

What's the easiest bank bonus to get in Canada right now?

KOHO's $100 is the easiest: open a free account, use code BREMO2026, make one purchase (even $1), and receive $100. No monthly fees, no direct deposit required, no minimum balance, and no credit check. Takes 10 minutes to apply online.

Related guides

Start with the easiest $100 right now

KOHO code BREMO2026 · $100 cash · 1% cashback · $0 fees · No credit check · 10 min to apply

Get KOHO — code BREMO2026 →

Disclosure: Bremo earns referral commissions on KOHO signups. Bank bonus terms subject to change; verify current offers at each institution. Information as of March 2026. Not financial advice.