Not all chequing accounts are created equal, which is great because sometimes you want a little more, or maybe a little less. Scotiabank offers some of the best chequing accounts in Canada.
Scotiabank offers four chequing, plus one for students—a few of these include some great welcome offers.
Best Scotiabank chequing accounts overview
Scotiabank Chequing Account
Monthly fee
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Ultimate package
$30.95 unless you maintain daily closing balance of $5,000+ in your account or a combined $30,000 in your Ultimate Package and MomentumPLUS Savings account; then it’s $0.
* For Ultimate Package: To qualify, certain conditions must be met. Visit here for full terms.
* For Preferred Package: To qualify, certain conditions must be met. Visit here for full terms.
1 Conditions apply. Actual interest rate will vary based on the savings period (the Premium Period) that applies. Visit scotiabank.com/mpsa to learn more.
The Scotiabank Ultimate Package is Scotiabank’s premium, all-in-one chequing account option. Loaded with features, this account includes unlimited debit transactions², Interac e-Transfers†, and Scotia international money transfers±. Finally, there is no overdraft protection fee
There is also a $800* welcome bonus if you open an account & eligible investment plans before March 1st, 2025.
Earn and grow your money
If you have a MomentumPLUS Savings Account, you can earn an additional 0.10% interest on top of the regular 1.00% interest rate*. With the MomentumPLUS Savings Account, you can earn a savings rate of up to 5.40%* for the first 3 months.
You can also earn Scene+ rewards which is great in bringing down the cost of groceries. You get 1 Scene+ point for every $5 spent on everyday purchases.
You'll also get preferred GIC rates and pay no monthly account fee for a U.S. Dollar account (which pairs nicely the Scotiabank U.S. Dollar Visa if you're shopping in the States).
Investors will appreciate the 10 free equity trades at Scotia iTRADE during the first year and five free equity trades in subsequent years.
More benefits
An additional underappreciated perk is that you’ll get a small safety deposit box free of charge ($60 annual fee waived).
This account may be especially appealing to frequent flyers thanks to perks like unlimited free global non-Scotiabank ABM withdrawals (terms and conditions apply) and the $150 ongoing annual fee waiver (meaning every year!) on select credit cards², including the Scotiabank Passport Visa Infinite credit card —one of the few no foreign transaction fee credit cards in Canada). Furthermore, the monthly fee on your Scotia U.S. Dollar Daily Interest Account (popular with customers who travel often to the U.S.) will also be waived, conditions apply.
The account fee is $30.95 per month, but you’ll pay $0 with a daily closing balance of $5,000 in your Ultimate Package or a combined balance of $30,000 in your Ultimate Package and MomentumPLUS Savings Account.
The Ultimate Package is a great deal for customers who can make use of all the account’s premium perks. If you have several Scotiabank credit cards, the ongoing annual fee rebate alone makes the Ultimate Package an impressive value.
* To qualify, certain conditions must be met. Visit here for full terms.
1 Conditions apply. Actual interest rate will vary based on the savings period (the Premium Period) that applies. Visit scotiabank.com/mpsa to learn more.
7 The Ultimate Package account includes non-Scotiabank Interac⁺ ABM cash withdrawals in Canada and cash withdrawals at non-Scotiabank Visa* or PLUS* ABMs within and outside of Canada. Account holders may still be charged a convenience fee by the other bank and ABM operator, not by Scotiabank.
1.The Scotiabank $450 Cash Bonus Bundle Offer (the "Offer") is available between November 1, 2024 and March 1, 2025 (the "Offer Period") to individuals who open new eligible accounts. Subject to the conditions below, eligible customers can earn $400 when they open a new Preferred Package or Ultimate Package chequing account and complete certain qualifying transactions and earn an additional $50 boost when they open a new eligible Scotia Registered Account ("Eligible Registered Account") with either The Bank of Nova Scotia or Scotia Securities Inc. and complete certain qualifying transactions.
For the purposes of this Offer, the following Scotia Registered Accounts are eligible for the Offer: Scotia Registered Retirement Savings Plans (RRSPs, excluding locked-in plans such as LIRAs and LRSPs) (each an “RRSP”), Scotia Tax-Free Savings Accounts (each a “TFSA”) and Scotia First Home Savings Accounts (each a “FHSA”). Scotia RRIFs (including locked-in income plans), RESPs, RDSPs, and non-registered Scotia Investment Accounts are not eligible for the Offer.
2. The Scotiabank Registered Account Welcome Offer (the "Offer") is available between November 1, 2024 and March 1, 2025 (the "Offer Period") to individuals who open one or more new Eligible Registered Account(s) (defined below) with either The Bank of Nova Scotia or Scotia Securities Inc. and complete certain qualifying transactions.
For the purposes of this Offer, the following Scotia Registered Accounts are "Eligible Registered Account(s)": Scotia Registered Retirement Savings Plans (RRSPs, excluding locked-in plans such as LIRAs and LRSPs) (each an "Eligible RRSP"), Scotia Tax-Free Savings Accounts (each an "Eligible TFSA") and Scotia First Home Savings Accounts (each an "Eligible FHSA"). Scotia RRIFs (including locked-in income plans), RESPs, RDSPs, and non-registered Scotia Investment Accounts are not eligible for the Offer. In order to qualify for a Cash Bonus (defined below), the individual cannot currently or in the preceding 6 months have held the same Eligible Registered Account type with either The Bank of Nova Scotia or Scotia Securities Inc. (together, "Scotiabank").
$400 Cash Bonus for Preferred or Ultimate Package Conditions
$400 Cash Bonus for Preferred or Ultimate Package Conditions: To qualify for the $400 cash bonus (the "Package Bonus"), you must: 1. Open a new Ultimate Package or new Preferred Package chequing account (the "Eligible Chequing Account") during the Offer Period; and 2. Complete any two (2) of the following activities in your Eligible Chequing Account within 60 days of Eligible Chequing Account opening: set up and clear at least one eligible automated and recurring direct depositÜ, such as payroll or pension, which will recur monthly for a minimum of six (6) consecutive months, or set up and clear a minimum of two (2) separate eligible recurring pre-authorized transactionsÜ with a minimum value of at least $50 per transaction which will each recur monthly for a minimum of six (6) consecutive months, or make at least one (1) eligible online bill paymentÜ of at least $50 through the Scotiabank Mobile App or through Scotia OnLine. Click here for a list of eligible direct deposits, pre-authorized transactions and online bill payments. Notwithstanding a transaction may be included in these lists, certain exclusions may still apply and Scotiabank reserves the right to modify these lists and to determine whether a specific direct deposit, pre-authorized transaction or bill payment is eligible for the Package Bonus. Fund transfers initiated to other Scotiabank accounts (one time or recurring, e.g. credit card or savings account), to chequing or savings accounts held at other financial institutions, or to payment processing firms, are not eligible for the Package Bonus. $50 Registered Account Bundle Conditions: To qualify for the $50 cash bonus (the "Bundle Bonus"), you must meet the conditions for the $400 Package Bonus, and during the Offer Period: 1. Open a new Eligible Registered Account; and 2. By March 1, 2025, set up and clear one recurring pre-authorized contribution (PAC) from any Scotiabank personal bank account with a minimum value of at least $100 per month in your new Eligible Registered Account, which must have recurred for a minimum of three (3) consecutive months by May 31, 2025. Eligibility and Exclusions: Individuals who are currently holders of, or who were previously holders within the last two (2) years of, a Scotiabank Chequing Account are not eligible for the Package Bonus. "Scotiabank Chequing Account" means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. In order to qualify for the Bundle Bonus the individual cannot currently or in the preceding 6 months have held the same type of Eligible Registered Account (as that opened during the Offer Period) with either The Bank of Nova Scotia or Scotia Securities Inc. Employees of Scotiabank are also not eligible for the Package Bonus or Bundle Bonus. General Terms: Provided all Package Bonus conditions outlined above have been met, the $400 Package Bonus will be deposited to the Eligible Chequing Account within approximately nine (9) months from Account open date. Provided all the Bundle Bonus conditions outlined above have been met, the additional $50 Bundle Bonus will be deposited to your Eligible Registered Account between June 2, 2025, and January 31, 2026, depending on when you have satisfied all Bundle Bonus conditions. You have 24 months from the date you believe you have fulfilled the applicable Offer conditions to notify us if you have not received the applicable cash bonus so that we may confirm your eligibility. For clients investing in non-Canadian dollar currencies, the investment will be calculated based on Canadian dollar equivalent at the Scotiabank rate on the transaction date to determine eligibility for the offer. The Package Bonus and Bundle Bonus will be paid in Canadian dollars. For either cash bonus to be fulfilled, the Eligible Chequing Account and the Eligible Registered Account, as applicable, must be open and in good standing until the time of payout of the cash bonus. The Eligible Chequing Account is not in "good standing" if any of the following conditions are not met: (i) it has a negative balance exceeding the authorized overdraft limit, (ii) it has been in continuous overdraft for a period of three consecutive months, or (iii) the Account holder is in breach of the Account agreement with Scotiabank. For purposes of this Offer, an Eligible Registered Account is not in 'good standing' if the account holder is in breach of the Eligible Registered Accountís client account agreement. This Offer is non-transferable and may not be duplicated. Limit of one (1) Package Bonus and one (1) Bundle Bonus per customer, regardless of the number of Eligible Chequing Accounts or Eligible Registered Accounts opened. If more than one (1) Eligible Chequing Account is opened, only the first Eligible Chequing Account opened will be eligible for the Package Bonus. If more than one (1) Eligible Registered Account is opened, only the first Eligible Registered Account that fulfilled the Bundle Bonus Offer conditions will be eligible for the Bundle Bonus. If two eligible accounts fulfill on the same day, the Bundle Bonus will be paid into only one of the Eligible Registered Account(s) in the following order: (1) Eligible TFSA, then (2) Eligible FHSA, then (3) Eligible RRSP. For joint accounts, only one (1) $400 Package Bonus will be applied to the primary account holderís Eligible Chequing Account and only one (1) $50 Bundle Bonus will be applied to the primary account holderís Eligible Registered Account. All rates, fees, features and benefits are subject to change. This Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers, except the Scotiabank Registered Account Welcome Offer.
Scotiabank Preferred Package
The Scotiabank Preferred Package is the most popular Scotiabank chequing account. It features unlimited debit² and Interac e-Transfer† transactions, as well as one free non-Scotiabank ABM withdrawal in Canada each month (terms and conditions apply). You also pay only $1.99 to send money internationally via Scotia International Money Transfer±.
Currently, there is a welcome offer which could add up to $800 in your wallet if you apply before March 1st, 2024.
This account is a good option for serious savers because you can enjoy preferred rates on select GICs, conditions apply, and a first-year annual fee waiver (up to $150) on select Scotiabank credit cards².
With a Scotia Scene+ card, you earn Scene+ points which is a super flexible loyalty program for everything from groceries to flights. With Scotia's Preferred Package, you can also earn 1 Scene+ point for every $5 spent on everyday purchases which means you can rack up points faster.
The fee for the account is $16.95 per month, but you pay $0 if you keep a minimum daily closing balance of $4,000 for the entire month. If you don’t need a lot of travel-centric or investing perks, this pared-down version of the Ultimate Package may be worthwhile.
* To qualify, certain conditions must be met. Offer ends April 30, 2023. Visit here for full terms.
¹ Conditions apply. Actual interest rate will vary based on the savings period (the Premium Period) that applies. Visit scotiabank.com/mpsa to learn more.
*To qualify, certain conditions must be met. Visit here for full terms.
1 Conditions apply. Actual interest rate will vary based on the savings period (the Premium Period) that applies. Visit scotiabank.com/mpsa to learn more.
8 The Preferred Package account includes 1 free non-Scotiabank Interac⁺ ABM cash withdrawal within Canada per month. Access fee for each subsequent cash withdrawal at non-Scotiabank Interac⁺ ABMs will be charged $2.00 per withdrawal. Each cash withdrawal from non-Scotiabank Visa* or PLUS* ABMs will be charged $3.00 in Canada and the U.S. and $5.00 outside of Canada and the U.S. Account holders may still be charged a convenience fee by the other bank and ABM operator, not by Scotiabank.
1.The Scotiabank $450 Cash Bonus Bundle Offer (the "Offer") is available between November 1, 2024 and March 1, 2025 (the "Offer Period") to individuals who open new eligible accounts. Subject to the conditions below, eligible customers can earn $400 when they open a new Preferred Package or Ultimate Package chequing account and complete certain qualifying transactions and earn an additional $50 boost when they open a new eligible Scotia Registered Account ("Eligible Registered Account") with either The Bank of Nova Scotia or Scotia Securities Inc. and complete certain qualifying transactions.
For the purposes of this Offer, the following Scotia Registered Accounts are eligible for the Offer: Scotia Registered Retirement Savings Plans (RRSPs, excluding locked-in plans such as LIRAs and LRSPs) (each an “RRSP”), Scotia Tax-Free Savings Accounts (each a “TFSA”) and Scotia First Home Savings Accounts (each a “FHSA”). Scotia RRIFs (including locked-in income plans), RESPs, RDSPs, and non-registered Scotia Investment Accounts are not eligible for the Offer.
2. The Scotiabank Registered Account Welcome Offer (the "Offer") is available between November 1, 2024 and March 1, 2025 (the "Offer Period") to individuals who open one or more new Eligible Registered Account(s) (defined below) with either The Bank of Nova Scotia or Scotia Securities Inc. and complete certain qualifying transactions.
For the purposes of this Offer, the following Scotia Registered Accounts are "Eligible Registered Account(s)": Scotia Registered Retirement Savings Plans (RRSPs, excluding locked-in plans such as LIRAs and LRSPs) (each an "Eligible RRSP"), Scotia Tax-Free Savings Accounts (each an "Eligible TFSA") and Scotia First Home Savings Accounts (each an "Eligible FHSA"). Scotia RRIFs (including locked-in income plans), RESPs, RDSPs, and non-registered Scotia Investment Accounts are not eligible for the Offer. In order to qualify for a Cash Bonus (defined below), the individual cannot currently or in the preceding 6 months have held the same Eligible Registered Account type with either The Bank of Nova Scotia or Scotia Securities Inc. (together, "Scotiabank").
$400 Cash Bonus for Preferred or Ultimate Package Conditions
$400 Cash Bonus for Preferred or Ultimate Package Conditions: To qualify for the $400 cash bonus (the "Package Bonus"), you must: 1. Open a new Ultimate Package or new Preferred Package chequing account (the "Eligible Chequing Account") during the Offer Period; and 2. Complete any two (2) of the following activities in your Eligible Chequing Account within 60 days of Eligible Chequing Account opening: set up and clear at least one eligible automated and recurring direct depositÜ, such as payroll or pension, which will recur monthly for a minimum of six (6) consecutive months, or set up and clear a minimum of two (2) separate eligible recurring pre-authorized transactionsÜ with a minimum value of at least $50 per transaction which will each recur monthly for a minimum of six (6) consecutive months, or make at least one (1) eligible online bill paymentÜ of at least $50 through the Scotiabank Mobile App or through Scotia OnLine. Click here for a list of eligible direct deposits, pre-authorized transactions and online bill payments. Notwithstanding a transaction may be included in these lists, certain exclusions may still apply and Scotiabank reserves the right to modify these lists and to determine whether a specific direct deposit, pre-authorized transaction or bill payment is eligible for the Package Bonus. Fund transfers initiated to other Scotiabank accounts (one time or recurring, e.g. credit card or savings account), to chequing or savings accounts held at other financial institutions, or to payment processing firms, are not eligible for the Package Bonus. $50 Registered Account Bundle Conditions: To qualify for the $50 cash bonus (the "Bundle Bonus"), you must meet the conditions for the $400 Package Bonus, and during the Offer Period: 1. Open a new Eligible Registered Account; and 2. By March 1, 2025, set up and clear one recurring pre-authorized contribution (PAC) from any Scotiabank personal bank account with a minimum value of at least $100 per month in your new Eligible Registered Account, which must have recurred for a minimum of three (3) consecutive months by May 31, 2025. Eligibility and Exclusions: Individuals who are currently holders of, or who were previously holders within the last two (2) years of, a Scotiabank Chequing Account are not eligible for the Package Bonus. "Scotiabank Chequing Account" means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. In order to qualify for the Bundle Bonus the individual cannot currently or in the preceding 6 months have held the same type of Eligible Registered Account (as that opened during the Offer Period) with either The Bank of Nova Scotia or Scotia Securities Inc. Employees of Scotiabank are also not eligible for the Package Bonus or Bundle Bonus. General Terms: Provided all Package Bonus conditions outlined above have been met, the $400 Package Bonus will be deposited to the Eligible Chequing Account within approximately nine (9) months from Account open date. Provided all the Bundle Bonus conditions outlined above have been met, the additional $50 Bundle Bonus will be deposited to your Eligible Registered Account between June 2, 2025, and January 31, 2026, depending on when you have satisfied all Bundle Bonus conditions. You have 24 months from the date you believe you have fulfilled the applicable Offer conditions to notify us if you have not received the applicable cash bonus so that we may confirm your eligibility. For clients investing in non-Canadian dollar currencies, the investment will be calculated based on Canadian dollar equivalent at the Scotiabank rate on the transaction date to determine eligibility for the offer. The Package Bonus and Bundle Bonus will be paid in Canadian dollars. For either cash bonus to be fulfilled, the Eligible Chequing Account and the Eligible Registered Account, as applicable, must be open and in good standing until the time of payout of the cash bonus. The Eligible Chequing Account is not in "good standing" if any of the following conditions are not met: (i) it has a negative balance exceeding the authorized overdraft limit, (ii) it has been in continuous overdraft for a period of three consecutive months, or (iii) the Account holder is in breach of the Account agreement with Scotiabank. For purposes of this Offer, an Eligible Registered Account is not in 'good standing' if the account holder is in breach of the Eligible Registered Accountís client account agreement. This Offer is non-transferable and may not be duplicated. Limit of one (1) Package Bonus and one (1) Bundle Bonus per customer, regardless of the number of Eligible Chequing Accounts or Eligible Registered Accounts opened. If more than one (1) Eligible Chequing Account is opened, only the first Eligible Chequing Account opened will be eligible for the Package Bonus. If more than one (1) Eligible Registered Account is opened, only the first Eligible Registered Account that fulfilled the Bundle Bonus Offer conditions will be eligible for the Bundle Bonus. If two eligible accounts fulfill on the same day, the Bundle Bonus will be paid into only one of the Eligible Registered Account(s) in the following order: (1) Eligible TFSA, then (2) Eligible FHSA, then (3) Eligible RRSP. For joint accounts, only one (1) $400 Package Bonus will be applied to the primary account holderís Eligible Chequing Account and only one (1) $50 Bundle Bonus will be applied to the primary account holderís Eligible Registered Account. All rates, fees, features and benefits are subject to change. This Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers, except the Scotiabank Registered Account Welcome Offer.
Scotiabank Basic Plus Bank Account
The name says it all: the Scotiabank Basic Plus Bank Account is ideal for anyone who doesn’t have a lot of transactions but appreciates value-added benefits. This no-frills banking package includes 25 transactions²; and free Interac e-Transfers†. After 25, you'll pay $1.25 per transaction (but e-Transfers remain free).
You can also send money overseas with Scotia International Money Transfers± at a charge of only $1.99 per transfer (terms and conditions apply).
You can get overdraft protection in two ways: $5 per month or pay-per-use at $5 every time you use it.
Plus, the $11.95 monthly account fee is waived if you maintain a minimum daily closing balance of $3,000 for the entire month. So you could end up making some dough just by having this account.
If you rarely use a chequing account and would rather not keep a large minimum balance to ensure no monthly account fees, the Scotiabank Basic Bank Account is for you. This minimalist account gives you 12 free transactions² and free Interac e-Transfers† every month.
The downside is that you will have to pay $3.95 per month, regardless of your monthly balance. There is no monthly minimum balance option to waive this account fee.
You can get overdraft protection at $5 per month or per use. Any non-Scotiabank ABM withdrawals and fees will apply (depending on the ATM from which you withdraw).
However, there is one nice hidden perk: the $3.95 fee is waived for clients aged 60 and over via a Seniors’ Discount, conditions apply.
This account is perfect for penny-pinching students looking to cut costs. The Scotiabank Student Banking Advantage® Plan comes with no monthly fee and no requirement to maintain a minimum balance. You must be currently enrolled full-time in a post-secondary institution in Canada or the U.S. (Domestic or International students). When you graduate, you will no longer be eligible for this account and will have to move your money to a different Scotiabank account.
Account holders get unlimited debits² and Interac e-Transfer† transactions and you can earn Scene+ rewards which helps students save big on groceries. It pairs nicely with the Scotiabank Scene+ Visa as one of Money.ca's best student credit cards.
You can get overdraft protection, too.
Despite budgeting, scrimping and savings, students who invest early can retire that much earlier. With This Scotia student bank account, you get a 50% discount on commission pricing and get 20 free trades on the mobile app in your first year. Buy a few ETFs and watch your money grow!
There is a welcome bonus, too. Be sure to go for it when you apply. ¹Earn up to $100 cash and 7,500 bonus Scene+ points (up to $75 value) when you open a new Student Banking Advantage® Plan before October 31st, 2024.
¹To qualify for the welcome bonus (the “Offer”), you must:
1`. Open a new Student Banking Advantage Plan (an “Eligible Account”) between July 3rd and October 31st;
2. Complete any two of the following activities in your Eligible Account within 60 days of Account open:
Set up and clear at least one (1) eligible automated and recurring direct deposit which will recur monthly for a minimum of three(3) consecutive months or
Set up and clear at least one (1) eligible recurring pre-authorized transaction for a minimum of $25 per transaction, which will recur monthly for a minimum of three (3) consecutive months or
Complete at least five eligible (5) Visa* Debit transactions using your ScotiaCard® anywhere Visa* Debit is accepted. Only the following Visa Debit transaction types are eligible: online debit purchases.
Redeem your 7,500 Scene+ points ($75 value) at participating grocery stores across Canada, including Sobeys, Safeway, IGA, FreshCo, Foodland, and more.2 Scene+ points can also be used for dining, shopping, travel, entertainment and more.
Open a new Student Banking Advantage Plan (an “Eligible Account”) between July 3, 2024 and October 31, 2024; andComplete any two of the following activities in your Eligible Account within 60 days of Eligible Account opening:Set up and clear at least 1 eligible♢♢ automated and recurring direct deposit, which will recur monthly for a minimum of three (3) consecutive months, orSet up and clear at least one (1) eligible♢♢ recurring pre-authorized transaction with a minimum value of $25 per transaction, which will recur monthly for a minimum of three (3) consecutive months, orComplete at least five eligible (5) Visa* Debit transactions using your ScotiaCard® anywhere Visa* Debit is accepted. Only the following Visa Debit transaction types are eligible: online debit purchases, and in-store purchases made outside of Canada.♢♢ Click here for a list of eligible direct deposits and pre-authorized transactions. While a transaction may be included in these lists, certain exclusions may still apply and Scotiabank reserves the right to modify these lists and to determine whether a specific direct deposit or pre-authorized transaction is eligible for the Offer. Fund transfers initiated to other Scotiabank accounts (one time or recurring, e.g. credit card or savings account), to chequing or savings accounts held at other financial institutions, or to payment processing firms, are not eligible for the Offer.Eligibility Exclusions: Individuals who are currently holders of a Scotiabank Chequing Account are not eligible for the Offer. Individuals who were previously holders of a Scotiabank Chequing Account within the last two (2) years are not eligible for the Offer. “Scotiabank Chequing Account” means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. Employees of Scotiabank are also not eligible for the Offer. General Terms: The $100 cash bonus will be deposited to the Eligible Account within six (6) months from account open date provided all Offer conditions outlined above have been met. The 7,500 bonus Scene+ points will be deposited to the Scene+ membership account linked to the Eligible Account. The Eligible Account must be open and in good standing until the time of payout of each bonus. The Eligible Account is not in "good standing" if: (i) it has a negative balance exceeding the authorized overdraft limit, or (ii) it has been in continuous overdraft for a period of three consecutive months. For joint accounts, only the primary account holder will receive the bonuses. The Offer is non-transferable and may not be duplicated. Limit of one (1) Offer per customer, regardless of the number of Eligible Accounts opened. If more than one (1) Eligible Account is opened, only the first Eligible Account opened will be eligible for the Offer. All rates, fees, features and benefits are subject to change. The Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
* Conditions apply. Offer ends October 31st, 2024. Visit here for full terms.
As Canada’s third-largest bank, Scotiabank is one of the best banks in Canada and is very trustworthy. Founded in 1832, Scotiabank (or “Bank of Nova Scotia”) has grown into a powerful, multi-national corporation with over 25 million customers and offices across the Americas, Europe, Asia and Australia. full-time
It’s also got some excellent options for chequing accounts. Scotiabank offers different chequing accounts, each with its own unique perks and tailored to suit a diverse clientele. What’s nice is there are some standard features included with all or most of Scotiabank’s chequing accounts, including:
Mobile and online banking access
Mobile cheque deposit
Free credit score check
A monthly account fee discount for clients aged 60 and above (discount amount varies depending on the type of account)
VISA Debit and Interac Flash payment options
Compatible with Apple Pay, Google Pay and Samsung Pay
Depending on which you choose, many also offer a Scotiabank new account promotion for new clients. Read on to see which Scotiabank chequing account best suits your needs.
In the market for another financial product?
Aside from these five chequing accounts, Scotiabank offers a number of other financial products. You’ll find a selection of Scotiabank Savings accounts, all of which have no monthly fee, discounted banking rates for seniors, and a full range of credit cards, including Amex and Visa cards, rewards cards, cash back and lifestyle cards, and cards with low interest rates or no annual fee.
†Interac e-Transfer is a registered trade-mark of Interac Corp. Used under license.
TM Trademark of Scene IP LP.
®Registered trademarks of The Bank of Nova Scotia.
*See Account Provider's website for complete account details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
To close a Scotiabank chequing account, visit a branch in person or call their customer service. Ensure all transactions are cleared, and any outstanding fees are paid. Transfer any remaining balance to another account before requesting closure.
What is the minimum balance for a Scotiabank chequing account?
Scotiabank's minimum balance requirements vary: the Basic Banking Plan has no minimum, while the Ultimate Package and Basic Plus accounts require $6,000 and $3,000, respectively, to avoid monthly fees
Avoid Scotiabank's monthly fees by maintaining minimum balances: $6,000 for the Ultimate Package, $4,000 for the Preferred Package, and $3,000 for the Basic Plus Bank Account. The Basic Bank Account has a fixed $3.95 fee.
Yes, you can open a Scotiabank chequing account online. The process allows you to pick the account that suits your needs and start your application through their website. Additionally, you have the option to open an account in person at a branch or by phone. There is no requirement for a minimum deposit to open a personal deposit account, and various identification options are available to meet the requirements for opening an account.
Sandra MacGregor has been writing about finance and travel for nearly a decade. Her work has appeared in a variety of publications like the New York Times, the UK Telegraph, the Washington Post, Forbes.com and the Toronto Star.
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