Introducing Beacon
Get rewarded on the money you set aside.
The more you use Beacon, the higher your reward.
Zero account fees | Protected by CDIC coverage | Quick Withdrawals
Cashback that climbs the more you use Beacon – no lock-in, no catch.
Loyalty Boost
3%
Your first three months. Everyone starts here.
Standard Rate
2.25%
Keep 3% by spending $500+ a month.*
Otherwise you’re on 2.25%.
Ambassador Rate
*Qualifying spend includes Beacon card payments, remittances, and Indian bill payments.
Get Beacon Money Plus
Get monthly cashback on the balance you set aside in Money Plus. Get more when you do more with Beacon.
Traditional bank
Other fintechs
Consistent rate
Under 1%
Around 2%
3% Cashback
Accrued interest tracking
Monthly
Monthly
Daily
Monthly fees
Yes
Maybe
Yes
Rates shown are as of August 27, 2026. Beacon’s rate reflects the Boosted rate.
Add Money
From your Beacon Money account.
View Daily Cashback
Track your daily cashback. Paid monthly
Withdraw anytime
Get money back the next business day
Whether you’ve been here ten years or ten days – Beacon Money Plus is built for you.
New to Canada
No Canadian credit history needed. Start from your first deposit.
Born and raised here
A better home for money that’s sitting still in your chequing account.
Already on Beacon
Your card, remittances and bill payments all count towards your boosted rate.
New to Canada
No Canadian credit history needed. Start from your first deposit.
Born and raised here
A better home for money that’s sitting still in your chequing account.
Already on Beacon
Your card, remittances and bill payments all count towards your boosted rate.
No investments
No market risk
No lock-in
Withdraw anytime
See Daily Cashback
On your Beacon App
Money Plus is a savings feature for your Beacon account. Your balance earns cashback daily, paid out monthly, with no lock-in and no fees.
Your Beacon Money account is for everyday activity: sending money to India, paying bills, and card spending. Money Plus is where you park savings on top of that. Funds sit separately and earn cashback; move money between the two anytime.
Move money from your Beacon Money account into Money Plus. Your balance earns cashback daily: 3% for your first 3 months, 2.25% standard after. Earnings are paid into your Beacon Money account on the 18th of each month. You can keep earning 3% if you are an active Beacon user.
No fees: no monthly fees, management fees, or withdrawal fees. No minimum balance. Minimum deposit to get started is $10.
Yes. Funds are held with regulated Canadian financial institutions and are eligible for CDIC protection, up to $100K.
Yes. Request a partial or full withdrawal anytime, no penalty. Get money back in your Beacon Money account the next business day.
Get the My Beacon App
Scan QR code to download the app Android & iOS
Have a referral code? You can enter it during signup.
Get your Beacon money plus account
Scan QR code to download the app Android & iOS
Have a referral code? You can enter it during signup.
