We recently took to the streets of Saskatoon and Regina to talk to hard working Canadians about bank account fees.

When I use the term bank fees, what's your initial feeling?

• "Uh, stress."
• "I don't like paying bank fees."
• "Frustration, probably."
• "It's not nice to see another deduction, that's just the bank taking money."
• "Bank fees are too much."
• "I don't see why I should be charged for using the money that I worked for."
• "There's a lot of distaste for having to pay bank fees."

What if I told you there was a place where you could get a bank account and have no fees attached to it?

• "I would sign up."
• "I would be down for that!"
• "Oh, that would be great."
• "No fees? Take it."
• "I would like to go with that bank."
• "I'd want to join that!"

In order to get the $300 cash you must:

• Open an Innovation No-Fee Bank Account online using the promo code SIGNUP300.
• Deposit a minimum of $5.00 into your account to cover the cost of the membership fee.
• Set up a recurring direct deposit of at least $100 and have it deposited twice into your No-Fee Bank Account. This must be done within 90 days of opening the No-Fee Bank Account.

You must be a new customer to Innovation, 18 years or older and a Saskatchewan Resident. If you banked with Innovation prior to January 2016 and would now like to return to us, you are also eligible for the offer.

Once you complete the offer conditions, you will get the $300 cash the month following the 90 days of when you opened the account. (i.e. if you open your account on October 1, 2021, you will receive payment in December 2021). We’ll deposit your $300 into your Member Rewards Account. You can transfer the $300 cash to any Innovation account of your choice. 

A direct deposit is defined as an automatic recurring deposit that is deposited at least monthly, into your No-Fee Bank Account.

• Examples of qualifying direct deposits include: payroll payments, child tax benefits, Employment Insurance (EI) payments, Canada Emergency Response Benefit (CERB) payments, pension payments, old age security payments and disability payments.
• Examples of direct deposits that are not included are: Quarterly GST cheques, PayPal deposits, scheduled transfers from an alternate financial institution, Uber deposits and Doordash deposits.

To set up a direct deposit from your employer:

• Login to Innovation’s online banking.
• Select My Accounts.
• Select your new No-Fee Bank Account.
• Choose Direct Deposit and Pre-Authorized Debit (PAD) Form. It will automatically populate your banking information for you.
• Print off the form and give it to your employer.

To set up direct deposit with the Government:

• Login to Innovation’s online banking.
• Select Account Services.
• Choose Set-Up CRA Direct Deposit for Individuals (CERB/CESB).
• Follow the prompts and you’re set!

This feature is only available on your Innovation online banking.

Yes, the offer is only available to new Innovation members. However, you are also eligible if you banked with Innovation prior to January 2016 and would now like to return to us. Welcome back!