Comparison of the Best Online Banks in Canada

With the EQ Bank Card, you pay no foreign exchange fees for purchases made abroad or in foreign currencies. This Mastercard is a reloadable prepaid card with which you can make free withdrawals at any ATM in Canada.

In addition, you earn the same excellent rate as your Personal Account, as well as 0.5% cash back on every purchase made with the EQ Bank Card.

Since it is a Mastercard, you can use it anywhere in the world as well as in Costco warehouses in Canada.

With the Neo Money^™ card, you get up to 6% cash back:

• 6% on average on restaurants, bars and cafés
• 4% on your favorite apps (Netflix, Disney+, Crave, Apple, Uber, Lyft, SkipTheDishes, DoorDash and UberEats)
• Up to 3% on gas and groceries

Special offer:

• Enter the code KOHOMILES when applying for your card.
• Get 3 months of Extra Plan for free ($18 off per month) and $20 cash back

The KOHO Prepaid Mastercard with Extra Plan (formerly KOHO Premium Prepaid Mastercard) gives you more cash back:

• 1.5% on food, drinks, groceries, and transportation
• 0.25% on all other purchases
• Up to 5% cash back at selected partner merchants

Your funds earn 2.5% interest (calculated daily, paid monthly) and are protected by CDIC. The card is also accepted at Costco.

For your travels, take advantage of zero FX fees on foreign purchases.

Choose between two payment options for the Extra Plan:

• $18/month, billed monthly
• $144/year, billed annually (equivalent to $12/month)

With the Wealthsimple prepaid card, you can access your available funds in your Wealthsimple chequing account. Wealthsimple is gradually replacing its Mastercard with a Visa Platinum Prepaid card.

With this welcome offer, you can get $25 cash back as a new Wealthsimple client. To do this, you simply need to open an account and then deposit at least $1 within 30 days.

You can invest your money in an investment account or a cryptocurrency of your choice. Also, you earn interest on your Wealthsimple Cash account balance! Wealthsimple Generation clients can earn an interest rate of up to 2.25%.

In addition, there are no foreign transaction fees for any purchase made in a currency other than the Canadian dollar and no annual fees.

With the Neo Secured Credit, you can easily obtain a secured credit card:

• Guaranteed approval*
• No hard credit check
• Only $9.99 per month

Get unlimited cash back from thousands of partners. Earn up to 15% boosted cash back at thousands of Neo partners across Canada.

With the Neo Mastercard, you get $25 cash back as a welcome bonus.

Get unlimited cash back from thousands of partners. Earn up to 15% boosted cash back at thousands of Neo partners across Canada.

The ManulifeMONEY+ Visa Platinum Card is a no-annual-fee cash-back card from Manulife. It rewards your grocery spending in particular while staying simple to use day to day.

You earn 2% cash back at grocery stores and 0.5% on all your other purchases. The card also offers a promotional interest rate of 1.99% on balance transfers for the first six months. The minimum personal income required is $15,000.

The annual interest rate is 19.99% on purchases and 21.99% on cash advances. A 2.5% foreign transaction fee applies to purchases made in a foreign currency.

This Manulife Bank Visa Infinite* card earns Manulife Better Rewards™, weighted toward health and wellness spending. The minimum annual income required is $60,000 personal or $100,000 household.

You earn 2% in rewards on health and wellness (drugstores, dental, physio, gyms, sporting goods), 1.5% on travel, dining and entertainment, and 1% on all your other purchases. The 2% and 1.5% categories are each capped at $25,000 of spending per calendar year.

The annual fee is $139, waived for the first year. Each additional card costs $50, and that fee applies from the first year.

The annual interest rate is 21.99% on purchases and 22.99% on cash advances and balance transfers.

If you have an individual income of $60,000 or a household income of $80,000, you can choose the Tangerine^® Money-Back World Mastercard^®*.

This credit card has no annual fee and allows you to earn cash back on your everyday purchases. With the current offer, you can get $100 when you spend $1,500 within your first three months^††.

You get 2% unlimited cash back in 2 categories of your choice and 0.5% on all your other purchases. Plus, you can unlock a third 2% category when your cash back is deposited into a Tangerine Savings Account.

Choose from 13 spending categories (groceries, gas, restaurants, and more) and change them every 90 days to match your habits^◊.

The card also includes useful protections, including purchase assurance and extended warranty⁵, as well as mobile device insurance and coverage for rental vehicles⁵.

Finally, you can transfer high-interest credit card balances and enjoy a promotional rate of 1.95% for 6 months (a 1% transfer fee applies)¹¹.

Save on fuel with Shell

All Tangerine cardholders can get savings and rewards on fuel with Shell and Scene+ when you link your cards to your Shell Go+ account. Get up to 8¢/L in value with a linked Money-Back World Mastercard or Money-Back Credit Card:

• Instant savings of 3¢ per litre on all grades of Shell fuel.
• Earn up to 3¢ per litre in cash back with fuel selected as a 2% category.
• Earn 1¢ per litre in Scene+ points value on all grades of Shell fuel, or 2¢ per litre in Scene+ points value on Shell V-Power^® when you link your Scene+ Account to Shell Go+.

Terms of the offer

• No annual fee
• 2% cashback on your choice of up to 3 categories, 0.5% money back on all other purchases
• Change your 2% Money-back categories to suit your spending from your choice of 10 categories
• Personalized categories and unlimited money-back rewards monthly
• Automatic earning: Money-Back Rewards are earned automatically on everyday purchases and paid monthly. These can be applied to your Credit Card balance or redeemed into your Savings Account.
• 1.95% on Balance Transfers for six months

The Tangerine Money-Back Credit Card has no annual fee and offers cash back.

With this limited-time welcome offer, you can earn an additional 10% cash back (up to $100) when you spend up to $1,000 on everyday purchases during the first 2 months.

You can choose two to three purchase categories that interest you (groceries, gas, home furnishings, renovations, recurring bills, pharmacy, etc.) to earn 2% cash back ! And there’s no annual cash-back limit. It is one of the best credit cards for renovations.

In addition, the Tangerine Mastercard offers several insurance coverages for your purchases :

• 90 days purchase insurance
• One year extended warranty

Finally, during the first 30 days you hold the card, transfer credit card balances and pay only 1.95% interest on these balances for the first 6 months.

Save on fuel with Shell

All Tangerine cardholders can get savings and rewards on fuel with Shell and Scene+ when you link your cards to your Shell Go+ account. Get up to 8¢/L in value with a linked Money-Back World Mastercard or Money-Back Credit Card:

• Instant savings of 3¢ per litre on all grades of Shell fuel.
• Earn up to 3¢ per litre in cash back with fuel selected as a 2% category.
• Earn 1¢ per litre in Scene+ points value on all grades of Shell fuel, or 2¢ per litre in Scene+ points value on Shell V-Power^® when you link your Scene+ Account to Shell Go+.