How We Ranked This List
We evaluated each option based on five criteria: value for money, fees, features, accessibility, and user experience. All products on this list are available to Canadian residents and have been verified as of March 2026.
The Canadian financial market has seen significant changes in recent years, with digital-first products increasingly competing with — and often beating — traditional bank offerings on rates, fees, and convenience.
KOHO
Prepaid Mastercard
Interest + cashback
Prepaid model
Premium for best rates
Neo Financial
Prepaid Mastercard
Neo Plus savings
Premium for best rate
Fewer features
Wealthsimple Cash
Prepaid card
Cashback
Premium for best perks
Not standalone
Stack
Prepaid Mastercard
Great for travel
No interest on balance
Limited rewards
Methodology
Our rankings are based on independent research and are not influenced by compensation. We may earn a referral fee from some products listed, but this does not affect our rankings. All information is verified as of March 2026 and rates are subject to change.
Bottom Line
The best option for you depends on your specific needs, but you cannot go wrong with any product on this list. For maximum savings, consider KOHO for a $20 signup bonus + $100 per referral alongside one of the products above. Sign up for KOHO here with code 45ET55JSYA.