The very best rewards debit playing cards in Canada for 2024

Debit playing cards can pack a critical punch as a fee methodology: you possibly can select from a big number of no-fee chequing accounts, debit playing cards assist preserve spending in examine and, in fact, they don’t cost curiosity. However is there a debit card with rewards? Surprisingly, sure!

Bank cards have all the time had the bounce on widespread acceptance when travelling, and, in fact, noteworthy rewards like merchandise and money again, however a choose few debit playing cards have rewards, too. And whereas we’ve but to see a debit card that gives complimentary journey insurance coverage or lounge entry, there are just a few available on the market that supply some fairly slick rewards.

Whether or not you’ve gotten spotty credit or no credit score, otherwise you simply favor to spend cash straight out of your chequing account, these are the playing cards to think about in case you’d prefer to earn rewards, too.

Finest for rewards

PC Cash Account

This “cash account” is positioned as a substitute for debit or credit score for on a regular basis spending, but it surely capabilities roughly like a debit card. You possibly can fund it via e-Switch from one other monetary establishment and use it to pay payments (together with pre-authorized withdrawals), switch funds between banks, and store. You can even use it when travelling overseas, because it’s accepted all over the place Mastercard is (very broadly). The one issues you possibly can’t do with it are write and deposit cheques—and, since you possibly can solely use it the place Mastercard is accepted, debit-only institutions are a no-go. That stated, we’ve included this card on our listing due to its incomes potential. This no-fee account is nice for individuals who spend at Consumers Drug Mart and Loblaw-affiliated shops however don’t need to go along with a PC Monetary Mastercard. You’ll earn 10 Optimum factors per greenback spent wherever—not simply in these shops. Once you do spend at Consumers, you’ll get an accelerated price of as much as 25 factors per greenback.  

• Month-to-month payment: $0
• Welcome supply: Earn as much as 130,000 PC Optimum factors whenever you an account. Situations apply, and supply topic to vary.
• Transactions: Limitless
• Interac e-Transfers: Limitless
• Rewards: Earn 10 PC Optimum factors per $1 spent at Loblaw-affiliated shops, as much as 25 factors per $1 at Consumers Drug Mart, and 5 factors per $1 all over the place else.

Honourable point out

Scotiabank Final Package deal

This all-inclusive chequing account goals to make on a regular basis banking straightforward. Whereas the account payment is $30.95 a month (form of steep for a checking account), that payment will be waived in case you preserve a stability of $6,000. That stated, quite a lot of the extras that banks usually cost for are included in that price ticket—you get limitless debit transactions and Interac e-Transfers, free customized cheques and drafts, free international ABM withdrawals, and even a security deposit field. The account has no overdraft safety charges, both. However what actually makes this card stand out is the power to earn Scene+ factors, which you should utilize for films but additionally journey, leisure, present playing cards and eating.

Finest for college kids

Scotiabank Scholar Banking Benefit Plan

If you happen to’re a scholar, you in all probability don’t have additional money to toss out for financial institution charges. This scholar account prices $0 whenever you’re enrolled full-time in a post-secondary establishment in Canada or the U.S. Plus, it helps you earn Scene+ factors, which might make film nights, and in addition journeys, merchandise, dinners and leisure, extra inexpensive, too.

• Month-to-month payment: $0 
• Welcome supply: A $100 bonus can be deposited instantly into your account whenever you open a brand new account by July 31, 2023. To be able to obtain the bonus, within the first 60 days it’s essential to both arrange and clear at the least one eligible automated and recurring deposit (like payroll) or arrange and clear at the least one eligible recurring pre-authorized transaction (should happen for 3 consecutive months).
• Transactions: Limitless
• Interac e-Transfers: Limitless
• Rewards: Earn 1 Scene+ level for each $5 spent wherever and 1 Scene+ level for each $1 spent at Cineplex.

Finest for money again

Koho Straightforward*

If you happen to’re searching for the perfect money again debit card in Canada, this full-service account is it. Whereas not technically a debit account, it capabilities as such. You possibly can load a predetermined quantity of spending cash onto your card every month and begin incomes 1% money again (or extra) in your common, on a regular basis spending. Not solely will you get 0.5% curiosity on the spending and financial savings accounts, however the card presents a RoundUp characteristic, which tallies up purchases to the closest quantity of your selecting ($1, $2, $5 or $10) and sends that cash into your financial savings. You’ll additionally get entry to $100 of your subsequent paycheque as much as 3 days earlier than it’s deposited, and the account options spending insights that will help you preserve observe of your funds. And, for individuals who want a bit extra hands-on assist, Koho presents free monetary teaching in case you pay for the Credit score Constructing plan ($10 per thirty days). It additionally prides itself on having no hidden charges—like account charges, curiosity costs or non-sufficient funds (NSF) charges.

• Month-to-month payment: $0 
• Welcome supply: This card doesn’t have a welcome bonus at the moment.
• Transactions: Limitless
• Interac e-Transfers: Limitless (every day most quantity: $3,000)
• Rewards: 1% money again on payments, companies, and groceries; as much as 5% again at choose retailers 

Watch: 5 causes to swap your debit card for a pay as you go money again card

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