Check eligibility, qualifying deposits, deadlines, fee waivers and how long the account must remain open.
Free Canadian money tool
Estimate the net first-year value of switching Canadian bank accounts
Look beyond the headline bonus. Compare first-year benefits with monthly fees, minimum-balance opportunity cost, switching time and other costs using assumptions you control.
Runs in your browserNo signup requiredAmounts are not submitted
Enter your assumptions
Use the institution's current offer terms. Example values are illustrative and are not a recommendation or a representation of any live offer.
How to use the estimate
Count only benefits you expect to receive and costs you would otherwise avoid.
Reduce the bonus, add an extra month of fees or increase your time estimate to see whether the decision still holds.
Important limitations
This is an educational estimate, not financial, tax or legal advice. It uses a one-year period and simple interest for the balance opportunity cost. It does not model taxes, credit checks, overdraft charges, lost benefits, changing rates, missed eligibility conditions or the value of service quality. Offer terms can change; verify them directly with the institution before acting.
Questions about the calculation
What counts as a first-year benefit?
The cash bonus, benefits you expect to use and existing account fees you will actually stop paying. Do not include advertised value you are unlikely to receive.
Why count a minimum balance as a cost?
Cash held in a low-interest chequing account could potentially earn interest elsewhere. The calculator estimates that forgone return using the rate you enter; it does not treat the balance itself as spent.
Are my financial values sent to Bremo?
No. The calculation runs locally in this browser. The page does not submit or save the amounts you enter.