The best rewards debit cards in Canada for 2024

These are the debit cards that can earn you rewards like cash back, PC Optimum points, Scene+ points and Air Miles.

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Best for rewardsPC Money Account
Best for rewards
(honourable mention)
Scotiabank Ultimate Package
Best for studentsScotiabank Student Banking Advantage Plan
Best for cash backKoho Easy*

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The best rewards debit cards in more detail

Debit cards can pack a serious punch as a payment method: you can choose from a large selection of no-fee chequing accounts, debit cards help keep spending in check and, of course, they don’t charge interest. But is there a debit card with rewards? Surprisingly, yes!

Credit cards have always had the jump on widespread acceptance when travelling, and, of course, noteworthy rewards like merchandise and cash back, but a select few debit cards have rewards, too. And while we’ve yet to see a debit card that offers complimentary travel insurance or lounge access, there are a few on the market that offer some pretty slick rewards.

Whether you have bad credit or no credit, or you just prefer to spend money straight from your chequing account, these are the cards to consider if you’d like to earn rewards, too.

Best for rewards

PC Money Account

This “money account” is positioned as an alternative to debit or credit for everyday spending, but it functions more or less like a debit card. You can fund it through e-Transfer from another financial institution and use it to pay bills (including pre-authorized withdrawals), transfer funds between banks, and shop. You can also use it when travelling abroad, since it’s accepted everywhere Mastercard is (very widely). The only things you can’t do with it are write and deposit cheques—and, since you can only use it where Mastercard is accepted, debit-only establishments are a no-go. That said, we’ve included this card on our list because of its earning potential. This no-fee account is great for those who spend at Shoppers Drug Mart and Loblaw-affiliated stores but don’t want to go with a PC Financial Mastercard. You’ll earn 10 Optimum points per dollar spent anywhere—not just in those stores. When you do spend at Shoppers, you’ll get an accelerated rate of up to 25 points per dollar.  

  • Monthly fee: $0
  • Welcome offer: Earn up to 130,000 PC Optimum points when you an account. Conditions apply, and offer subject to change.
  • Transactions: Unlimited
  • Interac e-Transfers: Unlimited
  • Rewards: Earn 10 PC Optimum points per $1 spent at Loblaw-affiliated stores, up to 25 points per $1 at Shoppers Drug Mart, and 5 points per $1 everywhere else.

Honourable mention

Scotiabank Ultimate Package

This all-inclusive chequing account aims to make everyday banking easy. While the account fee is $30.95 a month (kind of steep for a bank account), that fee can be waived if you maintain a balance of $6,000. That said, a lot of the extras that banks typically charge for are included in that price tag—you get unlimited debit transactions and Interac e-Transfers, free personalized cheques and drafts, free global ABM withdrawals, and even a safety deposit box. The account has no overdraft protection fees, either. But what really makes this card stand out is the ability to earn Scene+ points, which you can use for movies but also travel, entertainment, gift cards and dining.

  • Monthly fee: $30.95 (waived if $6,000 balance is maintained)
  • Welcome offer:

    You can earn up to $400 when you open an account. Conditions apply.

    Earn up to 5.60% interest on your Ultimate Package MomentumPLUS Savings Account for a limited time.
  • Transactions: Unlimited
  • Interac e-Transfers: Unlimited
  • Rewards: Earn 1 Scene+ point for every $5 spent on everyday purchases and 1 Scene+ point for every $1 spent at Cineplex.

Best for students

Scotiabank Student Banking Advantage Plan

If you’re a student, you probably don’t have extra cash to toss out for bank fees. This student account costs $0 when you’re enrolled full-time in a post-secondary institution in Canada or the U.S. Plus, it helps you earn Scene+ points, which can make movie nights, and also trips, merchandise, dinners and entertainment, more affordable, too.

  • Monthly fee: $0 
  • Welcome offer: A $100 bonus will be deposited directly into your account when you open a new account by July 31, 2023. In order to receive the bonus, in the first 60 days you must either set up and clear at least one eligible automated and recurring deposit (like payroll) or set up and clear at least one eligible recurring pre-authorized transaction (must occur for three consecutive months).
  • Transactions: Unlimited
  • Interac e-Transfers: Unlimited
  • Rewards: Earn 1 Scene+ point for every $5 spent anywhere and 1 Scene+ point for every $1 spent at Cineplex.

Best for cash back

Koho Easy*

If you’re looking for the best cash back debit card in Canada, this full-service account is it. While not technically a debit account, it functions as such. You can load a predetermined amount of spending money onto your card each month and start earning 1% cash back (or more) on your regular, everyday spending. Not only will you get 0.5% interest on the spending and savings accounts, but the card offers a RoundUp feature, which tallies up purchases to the closest amount of your choosing ($1, $2, $5 or $10) and sends that money into your savings. You’ll also get access to $100 of your next paycheque up to 3 days before it’s deposited, and the account features spending insights to help you keep track of your finances. And, for those who need a bit more hands-on help, Koho offers free financial coaching if you pay for the Credit Building plan ($10 per month). It also prides itself on having no hidden fees—like account fees, interest charges or non-sufficient funds (NSF) fees.

  • Monthly fee: $0 
  • Welcome offer: This card does not have a welcome bonus at this time.
  • Transactions: Unlimited
  • Interac e-Transfers: Unlimited (daily maximum amount: $3,000)
  • Rewards: 1% cash back on bills, services, and groceries; up to 5% back at select merchants 
Watch: 5 reasons to swap your debit card for a prepaid cash back card

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About MoneySense Editors

About MoneySense Editors

MoneySense editors and journalists work closely with leading personal finance experts in Canada. Since 1999, our award-winning magazine has helped Canadians navigate money matters.