Best Chequing Account Promotions at Scotiabank 2019
Scotiabank is now headquartered in Toronto, but as the Bank of Nova Scotia, it was founded in Halifax, Nova Scotia in 1831. It prides itself on its international banking profile, thanks to acquisitions made in Latin America, the Caribbean, Europe, and Asia. Despite this international profile, Scotiabank puts a lot of energy into serving its Canadian customers. With over 55,000 ABMs across the country it’s still considered one of the top, most accessible Canadian banks.
Scotiabank may be ‘only’ Canada’s third-largest bank, but it has some of the most innovative chequing accounts on the market. You can choose from 4 different Scotiabank chequing accounts, each with its own unique features. Scotiabank’s most talked-about chequing account is probably the Momentum account—since it’s a rare example of a chequing account that offers cash back—but all of Scotiabank’s chequing accounts are worth investigating. Apart from the Momentum account, all of them come with a range of debit cards that stand out from the crowd.
Scotiabank Chequing Accounts 2019
Scotiabank Cheqing Account
|Scotia One||$13.95||Unlimited self-service, 2 Interac||10,000 point sign-up bonus (conditions apply)||Read More|
|Basic Plan||$10.95||25 self-service or teller-assisted||5,000 point sign-up bonus (conditions apply)||Read More|
|Basic Account||$3.95||12; up to 4 can be teller-assisted||No monthly fee for seniors||Read More|
Scotia One Chequing Account
The Scotia One chequing account is probably the best Scotiabank chequing account for customers who want unlimited transactions without a monthly fee. There’s a condition—you have to keep a minimum daily balance of $4,000. For those who don’t reach this amount, the monthly fee is $13.95, which is discounted to $9.95 per month for seniors. Included in this price—or for free if you meet the minimum balance—are unlimited self-service transactions and 2 free Interac transactions each month.
One of the next best things about the Scotia One chequing account is that you can choose from 3 debit card plans, each of which has its own benefits. The Scotiabank Passport debit card helps you earn points towards free travel rewards; the Scotiabank Scene card earns Scene points for free movie tickets; or you can use the regular Scotia debit card for easy access to cash at one of Scotiabank’s 55,000 nationwide ABMs.
Those features aside, ScotiaOne’s most attractive perk is arguably its 10,000 SCENE or Scotia Rewards points sign-up bonus for new account holders (conditions apply).
Scotiabank Basic Banking Plan
The Scotiabank Basic Banking Plan is our recommendation for Scotiabank customers who prefer using tellers for their chequing account transactions. Scotiabank Basic Banking Plan customers get 25 free transactions each month, which can be either self service or teller assisted. There are no restrictions on which types of transaction you can use. You also get 2 free Interac transfers per month.
Scotiabank Basic Banking Plan has a monthly fee of just $10.95, discounted to $6.95 for seniors. Like the Scotia One account, the monthly fee is waived as long as your balance stays above a daily minimum—$3,000 in this case. Basic Banking Plan users can also choose from Scotiabank’s 3 debit cards. You can pick the travel rewards debit card and earn travel rewards while you spend, or the Scene movie rewards card for free movies and meals. Finally, there’s also the option of the regular Scotia debit card to use at any Scotia ABM.
This account also comes with an appealing sign-up bonus: 5,000 SCENE or Scotia Rewards points for new account holders (conditions apply).
Scotiabank Basic Banking Account
Don’t get confused—the Scotiabank Basic Banking Account is not the same as the Scotiabank Basic Banking Plan. The Basic Banking Account is the Scotiabank chequing account with the lowest monthly fee. At only $3.95 per month, or free for seniors, it’s ideal for anyone whose banking needs are truly basic and who doesn’t want to have to pay high fees.
You’ll get 12 transactions per month with the Basic Banking Account, of which up to 4 can be teller-assisted. There are also 2 free Interac transactions and the same choice of Scotiabank’s 3 debit cards. So, you can earn travel rewards with a 5,000-point welcome bonus, or Scene movie rewards, or enjoy easy day-to-day banking. Whatever you choose, you’ll get a convenient Scotia debit card at this low monthly price.
Other Scotiabank Products
Aside from these 4 chequing accounts, Scotiabank offers a number of other financial products. You’ll find a choice of 3 savings accounts, all of which have no monthly fee. Scotiabank also has a full range of credit cards, including Amex and Visa cards, rewards, cashback, and lifestyle cards, cards with low interest rates and cards with no annual fee.
See our review for the best Scotiabank savings accounts.