Get Rewarded for Everyday Purchases with Scotiabank

Last updated on January 1, 2018 Views: 547 Comments: 0


We believe our readers can apply their bargain-hunting mindset to other aspects of their financial well-being, and we plan to expand our focus to include other opportunities where Canadians can save, starting with the chequing and savings accounts offered by various Canadian banks. Too many Canadians hold the same chequing account with the same bank for years and years, without looking for more competitive offers. Scotiabank can help you increase the flexibility of your chequing account, while maybe even accumulating rewards simultaneously.

1. The Scotiabank Momentum Chequing Account – Apply Now

Get frequent earnings and flexible access to account funds with the Scotiabank Momentum Chequing account. Moving money from one account to another is simple and inexpensive with two free Interac e-transfers every month.  Moreover, those who want to be rewarded for spending will enjoy 1% cash back in the first year. New account holders will also appreciate the $100 that Scotia gives to those who applied online. Your Benefits

  • Get 1% cash back on debit purchases
  • $100 bonus for opening an account online
  • Unlimited self-service transactions monthly
  • 2 free withdrawals from non-Scotia ATMs per month
  • 1 free teller transaction per month
  • $15.95 monthly fee, $11.95 for seniors

2. The Scotiabank One Chequing Account – Apply Now

Customers who keep a large balance in their chequing account will pay no monthly fee for being a Scotiabank One member, and have expansive access to their money with unlimited teller and self-serve transactions. For transferring money between accounts, account holders are also eligible to receive 2 free Interac e-transfers per month. Customers who do not maintain the $4,000minimum daily balance will be charged $13.95 per month. Your Benefits

  • Unlimited teller and self-serve transactions
  • Pay no monthly fee if you keep a $4,000 balance or higher
  • Receive 2 free Interac e-transfers each month
  • $13.95 monthly fee, $9.95 for seniors

3. Scotiabank’s Basic Banking Plan – Apply Now

For modest banking needs, the Scotiabank Basic Banking Plan is a great solution. Customers that keep a daily minimum of $3,000 in their account pay no monthly fees, and otherwise pay just $10.95 per month. Seniors get a discount on this charge, as they do with most Scotia accounts. Account holders will also appreciate the relatively high degree of freedom they have with their money –  up to 25 transactions per month, applicable to teller or self-service terminals. Your Benefits

  • 25 self-serve or teller transactions monthly
  • Keep a $3,000 daily minimum balance and pay no monthly fees
  • Receive 2 free Interac e-transfers monthly
  • Monthly fee of $10.95 or just $6.95 for seniors

4. The Basic Banking Account by Scotia – Apply Now

The aptly named Basic Banking Account is Scotiabank’s best offer for beginners, and charges low monthly fees to match its value proposition. Account holders will pay just $3.95 each month to receive 12 monthly transactions – four of which can be with the assistance of a teller. Seniors pay no fees at all. Like the other chequing accounts in Scotia’s lineup, customers also benefit from 2 free e-transfers that enable them to quickly and inexpensively transfer funds from account to account. Your Benefits

  • 12 monthly transactions, including 4 transactions with a teller
  • Low $3.95 monthly fee, $0.00 for seniors
  • Two free Interac e-transfers every month
  • Great low-cost banking for beginners

Shop Around. It’s Worth It.

It might be comfortable to keep the same chequing account you’ve always used, but those who don’t shop around will miss out on the increased flexibility, greater rewards, and lower fees available. Scotiabank offers a full range of chequing accounts that suit any individual well, whether they are opening a new account or considering the switch from another bank.

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