📋 Blog · Updated March 2026
Best Canadian Bank Bonuses 2026: Up to $500+ Free
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
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
$100 free · 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 45ET55JSYA, 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 45ET55JSYA →
#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 45ET55JSYA), 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 45ET55JSYA, 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 45ET55JSYA · $100 cash · 1% cashback · $0 fees · No credit check · 10 min to apply
Get KOHO — code 45ET55JSYA →
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.