Canadian High Interest Savings Bank Accounts

Hey djino,

Thanks for posting this cc offer. This is one of the better no fee offers I've seen from the Big 5. For example, Scotia's new no fee Momentum offer is really a sub par offer – 1% on gas, grocery, drug and reoccuring payments and 0.5% on other. People would be better off with the old Scotia Moneyback at 1% with tiers. To me, it looks like RBC standouts from other no fee offers – except maybe MBNA Smart Cash but looks like this may be going away soon with TD.

Either way, 2% Cash Back on grocery, up to 1% on other and no fee is a solid offer. If you do the math this works out better then a 1% no tier offer. For example, $500 spend per month grocery at 2% = $120 and $500 other per month at 0.5% = $30. That's 1.25% cash back ($150/$12000 annual spend). Plus, you can cash out at $25 (don't have to wait till end of year). This is better then SC which has $50 cash out and they send a cheque. Looks like a good alternative to SC and probably the best offer from the big 5 banks.

Cheers,

Brick