Start 2026 with $100 in Your Account
Open KOHO this Boxing Day with code 45ET55JSYA and get $100 cash bonus — the perfect way to begin your new year's financial reset.
Why Boxing Day Is a Great Financial Reset Day
Boxing Day (December 26) is a Canadian statutory holiday and traditionally the country's largest retail shopping day. But beyond shopping deals, it falls at a financially significant time:
- The end of the calendar year — 2025 TFSA and RRSP contribution room resets on January 1
- Many bank welcome bonuses are at peak levels heading into the new year
- RRSP contribution season begins — contributions made by December 31 benefit from an extra year of compounding
- New year's financial resolutions are being made — the best time to set up new systems
Best Boxing Day Banking Promotions 2025
KOHO — Cash Welcome Bonus
$100 Cash
No spending requirement, no minimum balance. Open KOHO with referral code 45ET55JSYA and receive $100 cash credited to your account. Available year-round — one of Canada's most accessible account bonuses.
Major Bank Chequing Account Bonuses
$200–$500
TD, RBC, Scotiabank, BMO, and CIBC typically run Q4/New Year promotions for new chequing account holders. Requirements vary but usually include direct deposit setup. Check each bank's promotions page in late December for Boxing Day or New Year offers.
HISA Promotional Rates
4–6% introductory rate
EQ Bank, Oaken Financial, Simplii Financial, and other digital banks often offer elevated HISA rates for new deposits or new account openings in December/January. Time new TFSA or RRSP deposits to capture the best rate.
Credit Card Holiday Welcome Offers
Up to 100,000 bonus points
Premium travel and rewards credit cards often run their biggest annual welcome offers during the holiday to New Year period. Amex, Scotiabank, and TD cards have historically offered elevated first-year bonuses during this window.
Boxing Day Financial Checklist — Start 2026 Right
Check your 2025 TFSA roomLog into CRA My Account to see your exact TFSA contribution room. Top it up before December 31 if possible.
Review your 2025 budget year-in-reviewHow did your actual spending compare to your budget? What categories consistently overspent?
Get your free credit reportCheck both Equifax and TransUnion. End-of-year is a great time for your annual review.
Set up RRSP auto-contributions for 2026Schedule monthly RRSP contributions starting January — spreads the contribution and avoids the February RRSP rush.
Review and cancel unused subscriptionsJanuary 1 is the best day to audit all monthly subscriptions and cancel what you're not using.
Set 3 financial goals for 2026Write down specific, measurable goals (not just "save more"). Debt to eliminate, savings target, investment goal.
Open that new bank account you've been meaning toBoxing Day/New Year is the perfect fresh-start moment. Open KOHO with code 45ET55JSYA for $100.
Boxing Day Shopping: Financial Survival Tips
The Boxing Day Trap: The average Canadian spends $200–$500 on Boxing Day, often on items they didn't plan to buy. Research shows that most Boxing Day deals are comparable to prices available online throughout the year. Don't let artificial urgency override your budget.
- Make your list before December 26: Know exactly what you're looking for before browsing
- Set a hard spending limit: Preload a KOHO card with your Boxing Day budget
- Compare prices first: Use Google Shopping or PriceSpy to confirm it's actually a deal
- Avoid "buy now, think later" urgency: If you wouldn't buy it at full price, you don't need it at 40% off
- Holiday debt reality check: If you're carrying holiday credit card debt from Christmas, focus on paying it off before the interest charges begin — not adding more
TFSA New Year Strategy for Boxing Day
On January 1, 2026, your TFSA gains a new $7,000 contribution room (assuming you're 18+ and a Canadian resident). The smartest Canadians have their January 1 TFSA contribution ready to go before New Year's Day:
- Before December 31: Transfer $7,000 to the savings account you'll contribute from
- January 1: Make the TFSA contribution first thing in the morning
- It's in the TFSA growing tax-free for the entire year immediately
A single day's head start on January 1 vs. February means one extra month of tax-free growth — small but real over decades of compounding.
Frequently Asked Questions
Is Boxing Day still a big shopping day in Canada?
Yes. Boxing Day remains Canada's largest single retail shopping day by traffic (though Black Friday has narrowed the gap significantly). Retailers, electronics stores, and yes — banks and financial institutions — continue to run promotions targeting Boxing Day and the "between Christmas and New Year" period. The financial services promotions are particularly strong in this window as consumers begin new year financial planning.
What's the best thing to do financially on Boxing Day?
The highest-value financial action most Canadians can take: open a new high-interest TFSA and schedule automatic contributions for 2026, or open a bank account with a welcome bonus. These decisions take 20 minutes and have lasting financial impact. Better ROI than any Boxing Day retail purchase.
Do banks have special Boxing Day banking hours?
Boxing Day is a statutory holiday in Canada. Physical bank branches are closed. However, all online banking, app-based banking, and digital-first banks (KOHO, EQ Bank, Tangerine) operate normally with full functionality. This makes Boxing Day an excellent time to open accounts and set up financial systems — everything is available online 24/7.
Should I use credit for Boxing Day shopping?
Only if you will pay the balance in full in January. Boxing Day purchases on credit that carry a balance for months at 19.99% eliminate any "deal" savings quickly. The $300 TV on sale for $200 costs $250 if you carry the $200 at 19.99% for 3 months. If you must use credit, set a reminder to pay it immediately when your January statement arrives.
What are the best TFSA account options for Canadians in late December?
For cash savings in a TFSA: EQ Bank (consistently highest HISA rates), Oaken Financial (competitive rates), and Simplii Financial (no-fee banking). For investing your TFSA: Wealthsimple (free trades) or Questrade (low fees). The key is getting the money into a TFSA before January 1 to maximize the new year's contribution room, regardless of which institution you choose.
Your Boxing Day Financial Fresh Start
Open KOHO on Boxing Day. Get $100 cash. Start the new year with better banking habits and a financial system that works. Use code 45ET55JSYA.
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