5 Bank Accounts Offering Free Cash Bonuses in Canada

Getting a sign-up incentive from a financial institution It's always pleasant because any additional funds credited to your account are welcome. Moreover, it becomes even more advantageous if you can obtain the bonus within merely a couple of business days.

Trending Now: If You're Considering Purchasing a CD, Suze Orman Recommends Doing It Soon — Here Are the Reasons Why

For You: 4 Minimal-Risk Strategies To Grow Your Savings in 2025

You can quickly boost your balance by hundreds of dollars simply by registering at multiple banks. If you're looking for a more suitable banking experience or wish to earn an annual percentage yield (APY) effortlessly, starting another account might land you a significant sum of money.

Offers can vary widely in value, deposit requirements, terms and conditions, but if you’re in the market for a new checking or savings account, give these a look .

Truist One Checking: $400

Customers opening new Truist checking accounts might receive a $400 promotional bonus. Below are some important details:

• Bonus amount: $400
• Fees: There are no overdraft fees, and the $12 monthly service charge can be avoided if you meet one of these conditions: making at least $500 in qualifying direct deposits, holding a personal Truist credit card, or being a student.
• Minimum opening deposit requirement: $50
• Qualifying activity: To become eligible for participation, you first need to create an account online and input the promotional code. Following this, ensure that your account receives a minimum of two qualifying direct deposits amounting to $1,000 or more within the initial 120-day period from when the account was opened.
• Promo code: AFL2425TR1400
• Offer expires : Apr. 30, 2025

Check Out: 30 Fraudulent Phone Numbers to Block and Area Codes to Steer Clear Of

Bank of America Advantage Banking offers a $300 bonus.

As one of the largest banks in the U.S., Bank of America doesn’t have to hand out free money, but you can score this bonus Simply by enrolling in a new Advantage account, the criteria are manageable and quite simple:

• Bonus amount: $300
• Monthly maintenance fee: $12 or this fee may be exempted if you have at least one eligible direct deposit totaling $250 or more, keep an average daily balance of $1,500 in your account, or join the Preferred Rewards program.
• Minimum opening deposit requirement: $100
• Qualifying activity: Configure and process at least two qualifying direct deposits amounting to $2,000 or more into your qualified account within three months from when you open the account.
• Offer expires : May 31, 2025

Chase Total Checking: $300

Chase knows its way around a bank promotion. Just by going to the website or downloading the mobile app, you can open a new eligible account today and start earning some free money. Here are a few key takeaways:

• Bonus amount: $300
• Monthly service fee: $12
• Minimum opening deposit requirement: $0
• Qualifying activity: Open a Chase Total Checking account and ensure that your direct deposits total $500 or more within 90 days from the date you enroll using the coupon.
• Offer expires : Apr. 16, 2025

SoFi Checking and Savings: $300

If you're searching for an all-in-one solution when it comes to banking accounts, SoFi Checking and Savings might be ideal for you. This combined account allows you to both earn interest and monitor your debit card spending effortlessly since there are no charges if your balance goes negative. Here’s How can one obtain the bonus? Upon opening the account:

• Bonus amount: $50 to $300
• Monthly maintenance fee: $0
• Minimum opening deposit requirement: $0
• Qualifying activity: This combined checking-and-savings account provides bonuses available in two levels: $50 or $300. To qualify for these rewards, simply set up at least one direct deposit by the specified deadline. If your total deposits reach between $1,000 and $4,999.99, you'll receive a $50 bonus; however, if they equal $5,000 or above, you will be eligible for a larger reward of $300.
• APY: to
• Offer expires : Jan. 31, 2026

New and current Checking and Savings account holders who haven’t previously signed up for Direct Deposit with SoFi can qualify for a monetary incentive: they may receive $50 if their cumulative Direct Deposits reach at least $1,000 within the specified period; alternatively, those achieving at least $5,000 in combined Direct Deposits could get $300. The exact reward depends on the overall sum deposited directly into your accounts via this method. This promotion starts from December 7th, 2023 and continues until January 31st, 2026. For detailed information about bonuses as well as APY rates, please refer to our complete terms. http://sofi.com/banking#1 .

Members who sign up for SoFi Plus through Direct Deposit, pay the subscription fee every month, or maintain $5,000 or more in qualifying deposits within a 30-day evaluation period can benefit from an annual percentage yield (APY) of 3.80% on their savings accounts (which includes Vaults) and 0.50% APY on checking accounts. No minimum Direct Deposit threshold is necessary to achieve this specified interest rate. Those without SoFi Plus membership or qualifying deposits over the same 30-day assessment window will receive an APY of 1.00% on savings accounts (inclusive of Vaults) and continue to get 0.50% APY on checking accounts. Access to additional SoFi Plus perks is exclusive to those holding SoFi Plus memberships. The listed interest rates may vary and could adjust anytime; these figures were accurate as of January 24th, 2025. A minimal account balance isn’t mandatory. For further details, refer to the provided documentation. http://www.sofi.com/legal/banking-rate-sheet. Refer to the SoFi Plus Terms and Conditions provided separately for more details. https://www.sofi.com/terms-of-use/#plus .

Citi Checking With Direct Deposit: $325

If you are looking to open a new If you're looking at opening a checking account, think about setting one up with Citi to get $325 for free. To qualify, you'll need to make eligible Enhanced Direct Deposits and finish the necessary tasks.

• Bonus amount: $325
• Monthly maintenance fee: $15
• Minimum opening deposit requirement: $0
• Qualifying activity: To receive this complimentary cash offer, you'll need to open a qualifying Citi checking account and arrange for at least two enhanced direct deposits. These can include ACH transactions, transfers done with Zelle, as well as digital payments processed through services like PayPal, Venmo, or similar platforms. Ensure these deposits amount to a sum of at least $3,000 and occur within the initial three months following your account’s activation date.
• Offer expires : July 7, 2025

More From WellnessInvestigator

• 5 Vehicle Types retirees should avoid purchasing
• 6 Subtle Smart Strategies That Affluent Individuals Use for Managing Their Finances
• 4 Steps to Take If You Aim for an Early Retirement
• 7 Tested Quick Routes to Boost Your Savings by $1K This Month

The piece initially appeared on WellnessInvestigator : 5 Bank Accounts Offering You Cash Bonuses

Share this post