One of the best rewards debit playing cards in Canada for 2024

Debit playing cards can pack a critical punch as a fee technique: you’ll be able to select from a big collection of no-fee chequing accounts, debit playing cards assist hold spending in examine and, after all, they don’t cost curiosity. However is there a debit card with rewards? Surprisingly, sure!

Bank cards have all the time had the soar on widespread acceptance when travelling, and, after all, 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 provides complimentary journey insurance coverage or lounge entry, there are a number of available on the market that supply some fairly slick rewards.

Whether or not you have got below-average credit or no credit score, otherwise you simply favor to spend cash straight out of your chequing account, these are the playing cards to contemplate if you happen to’d prefer to earn rewards, too.

Greatest for rewards

PC Cash Account

This “cash account” is positioned as an alternative choice to debit or credit score for on a regular basis spending, however it features kind of like a debit card. You possibly can fund it by 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 too can use it when travelling overseas, because it’s accepted in all places Mastercard is (very broadly). The one issues you’ll be able to’t do with it are write and deposit cheques—and, since you’ll be able to 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 many who spend at Customers Drug Mart and Loblaw-affiliated shops however don’t wish 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 Customers, you’ll get an accelerated price of as much as 25 factors per greenback.  

• Month-to-month charge: $0
• Welcome supply: Earn as much as 130,000 PC Optimum factors while you an account. Circumstances 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 Customers Drug Mart, and 5 factors per $1 in all places else.

Honourable point out

Scotiabank Final Package deal

This all-inclusive chequing account goals to make on a regular basis banking simple. Whereas the account charge is $30.95 a month (form of steep for a checking account), that charge will be waived if you happen to preserve a stability of $6,000. That stated, a number of the extras that banks usually cost for are included in that price ticket—you get limitless debit transactions and Interac e-Transfers, free personalised cheques and drafts, free world 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 flexibility to earn Scene+ factors, which you should utilize for films but additionally journey, leisure, present playing cards and eating.

Greatest for college students

Scotiabank Scholar Banking Benefit Plan

If you happen to’re a pupil, you most likely don’t have additional money to toss out for financial institution charges. This pupil account prices $0 while 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 likewise journeys, merchandise, dinners and leisure, extra reasonably priced, too.

• Month-to-month charge: $0 
• Welcome supply: A $100 bonus might be deposited instantly into your account while you open a brand new account by July 31, 2023. With a view to obtain the bonus, within the first 60 days you will need to both arrange and clear a minimum of one eligible automated and recurring deposit (like payroll) or arrange and clear a minimum of 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.

Greatest 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 features 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 provides 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 can assist you hold monitor of your funds. And, for many who want a bit extra hands-on assist, Koho provides free monetary teaching if you happen to pay for the Credit score Constructing plan ($10 monthly). It additionally prides itself on having no hidden charges—like account charges, curiosity prices or non-sufficient funds (NSF) charges.

• Month-to-month charge: $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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