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Opening a bank account to accumulate travel points: the idea is appealing, but the Canadian reality is more nuanced. In Canada, most rewards linked to bank accounts come from the associated credit card, not the account itself. We have reviewed the main institutions to distinguish between accounts that offer real program points and those that offer cash or an advantageous interest rate.
Here is our comparison, updated in June 2026. As opening bonuses are seasonal, always check the dates on the official issuer’s website before opening an account.
Real points or cash back?
The distinction is essential for points enthusiasts. A transferable program point (Avion, Scene+) can fund a flight or a hotel night, sometimes for a value greater than 1¢ per point. Cash back is worth exactly what it says: $1 remains $1. Here is the comparative table of the accounts we have selected.
| Account | Program | Upon opening | Recurring | Type |
|---|---|---|---|---|
| RBC Packages (Signature, VIP) | Avion Rewards | iPad or MacBook (seasonal offer) | 1 Avion point per $10 debit transaction | Real points |
| Scotiabank Scene+ Chequing Accounts | Scene+ | Cash bonus (seasonal offer) | 1 Scene+ point per $5 debit transaction | Real points |
| National Bank Packages | NBC Rewards (on the card) | Cash bonus | No points on the account | Cash |
| Desjardins Accounts | BONUSDOLLARS (on the card) | Bonus interest (seasonal offer) | No points on the account | Cash / interest |
| Wealthsimple Account | Cash Back | Variable depending on the offer | Cash Back | Cash |
| EQ, Tangerine, Simplii | None | Promotional rate | High interest | Interest |
RBC and Avion points
RBC is the only major Canadian bank whose chequing account consistently accumulates travel points. By enrolling in the Value Program, your debit card purchases earn 1 Avion point per $10. These points can then be redeemed for travel, gift cards, or bill payments in Avion Rewards.
As for the opening bonus, the current offer is not in points:
- By opening an RBC Signature No Limit Banking Package or an RBC VIP Banking Package before November 2, 2026, and completing two of the three eligible activities within 90 days, you receive an iPad.
- A contribution of $50,000 or more to an eligible investment account unlocks an iPad Pro or MacBook Air instead.
Scotiabank and Scene+
Scotiabank chequing accounts are linked to the Scene+ program, one of the most versatile in the country thanks to its partners in dining, cinema, groceries, and travel. With the Scene+ debit card, you accumulate 1 Scene+ point per $5 in debit purchases, up to 300 points per transaction and 600 points per day.
For opening, the current offer is a cash bonus, not points. From July 3 to October 29, 2026, new customers can receive up to $1,000 by combining a recurring direct deposit, an eligible Master Account savings account, and a credit card. The Ultimate Package is waived with a sufficient daily balance, as is the Essential Package.
National Bank: mostly cash
The NBC Rewards program exists, but it is linked to Mastercard credit cards, not the chequing account. On the account itself, National Bank focuses on cash. From May 7 to November 3, 2026, opening a Connected or Total package gives up to $600 in rebates:
- $300 base
- $100 with a new Mastercard credit card
- $100 with automatic mortgage withdrawal
- $100 with a savings account with a minimum deposit of $5,000
The conditions include:
- Enrollment in online banking
- At least 20 eligible transactions within 120 days
- Three direct deposits of at least $100 each
The rebates are paid by the end of the 6th month following opening. If your goal is to accumulate NBC points, it’s the credit card you need to target, not the account.
Desjardins and BONUSDOLLARS
The same logic applies at Desjardins: BONUSDOLLARS accumulate on credit cards (1 BONUSDOLLAR is worth $1 upon redemption), not on the account with services. From June 2 to July 30, 2026, a deposit into an eligible savings account instead grants a bonus interest rate for the duration of the promotion. This is a yield advantage, not a travel points gain.
Cash back and interest accounts
Several online institutions do not offer points but provide concrete benefits. Wealthsimple and KOHO offer cash back on everyday expenses. For savings, EQ, Tangerine, and Simplii offer significantly higher rates than major banks, often between 3% and 5% depending on promotional offers. These accounts complement a points portfolio without replacing it.
To go further, compare the best chequing accounts and the best savings accounts, then subscribe to our newsletter to follow new seasonal offers.
Credit card offers change just as quickly. Check out our selection of the best current credit card offers before they disappear.
Frequently Asked Questions
Which accounts offer real points?
In Canada, RBC (Avion points) and Scotiabank (Scene+ points) are the main accounts that accumulate real loyalty program points. Other institutions primarily offer cash or interest.
Do points come upon opening?
Rarely. Current opening bonuses are mostly gifts or cash. Points are accumulated recurrently on your debit card purchases, for example, 1 Avion point per $10 at RBC.
How much does an RBC account earn?
With the Value Program, your debit card purchases earn 1 Avion point per $10. The current opening offer is an iPad or a MacBook, provided you open the account before November 2, 2026, and complete two eligible activities.
Is the Scene+ account worth it?
If you already use Scene+, yes. The debit card earns 1 point per $5, and the opening offer running until October 29, 2026 can reach $1,000 in cash.
Do NBC and Desjardins offer points?
Not on the account itself. NBC Rewards and BONUSDOLLARS are linked to credit cards. These institutions’ accounts offer cash back or a bonus interest rate instead.
Cash back or points: what to choose?
Cash back offers a guaranteed return at par. Program points can be worth more for travel but require strategic use. Your choice depends on your goals and your tolerance for complexity.
Can you combine multiple accounts?
Yes. Many readers combine a points-earning chequing account (RBC or Scotiabank) with a high-interest savings account (EQ or Tangerine). This approach maximizes both points and returns.
