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Scotiabank
Written by Lauren Brown
Last updated on June 26, 2026
Fact Checked
FinlyWealth rating
🏅
4.1
Products they offer:
Best for:
Scotiabank is an ideal pick for Canadians looking for full-service banking with a strong lineup of Scene+ rewards credit cards and international banking capabilities. Its extensive branch network and broad range of banking as well as its lending and investment products make Scotia a suitable option for a range of customers.
Overview
Scotiabank provides well-rounded banking, offering a large branch network and one of the strongest rewards ecosystems among the biggest banks in Canada. As a full-service institution, the bank has investment management and award-winning private banking.
Scotia provides tailored accounts for everyone from students and youth to seniors, while the Scotiabank StartRight® Program is a top pick for newcomers to Canada. The bank also boasts a premium banking experience through the Scotiabank Ultimate Package Chequing. Some fee waiver options are available when you maintain a minimum balance but its interest rates on savings tend to be lower than what you can find through online banks. That said, its network access is more competitive as it is part of the Global ATM alliance.
Scotia’s credit card offering stands out for its travel lineup as well as its partnership with Scene+ rewards. FinlyWealth recently named the Scotiabank Passport Visa Infinite+ Card as our pick for the best overall travel and no foreign transaction fees credit card. In addition to credit cards, Scotia maintains a competitive edge within the mortgage and loan space through flexible financing solutions.
Pros
- Strong offering of travel and rewards credit cards with the Scene+ program being a market differentiator
- Provides a distinctive newcomer banking program
- Access to the Global ATM alliance allowing for no-fee ATM withdrawals at specific international banks
- Full-service banking allowing customers to get their entire banking, lending and investing needs met at a single institution
- Wide range of flexible borrowing options
- Premium banking available with fee-waiver opportunities
- Well-ranked mobile application
- Significant international retail presence, particularly in Latin America
Cons
- Lower savings rates than those offered by online banks and fintechs
- Applicable account fees can be expensive unless you meet the fee-waiver threshold
- Worst TrustPilot rating out of the Big Six with many dissatisfied customers
- Fees are comparable to the other Big Six, though higher than fintechs and digital banks
- More expensive lending rates than digital-first institutions
- Many premium banking benefits require a substantial minimum balance
Product Reviews
Savings Accounts
OPEN ACCOUNT
on Scotiabank's website
Welcome Bonus
N/A
Regular Interest
Up to 0.4%
Monthly Fee
$0
The Scotiabank Money Master Savings Account focuses on helping customers build savings through automation. With no monthly fees and unlimited transfers between eligible Scotiabank accounts, it’s a convenient place to set aside money while keeping it accessible for when you might need it.
The account’s standout features are its automated savings tools. Customers can set up recurring transfers, automatically move a portion of their paycheque into their savings, or use Scotia's savings features to transfer money based on their spending patterns. These tools may appeal to individuals who struggle to save consistently.
Though the Money Master Account encourages savings, its interest rate remains modest compared to some competing accounts. Existing Scotiabank customers may still appreciate the account’s convenience and its integration with their everyday banking, though.
Scotiabank is revamping the Money Master savings account and introducing two new smart savings tools that clients will be able to benefit from if they have a D2D Chequing account and a Money Master account. Clients will be able to enrol in one of these tools at a time and cancel or change tools at any time.
The two new savings tools will help clients ‘find savings’ and seamlessly move money from their selected chequing to their Money Master Savings account at no cost. As an added incentive to help encourage clients to sign up for one of these new tools, they will be eligible to receive an ongoing interest rate boost of 0.39% for a total rate of 0.40% (0.39% is the EDS boost, 0.01% is the BAU MM rate). Rates are subject to change.
The two new tools are:
1) Pay Yourself First:
- Works best if you have a regularly recurring deposit like payroll set up
- This tool helps you set up automatic transfers from payroll or other income deposits in your chequing account into your Money Master savings account. You set the amount or percentage to save, and we’ll move funds when it appears that you can afford it.
- The amount transferred from chequing to savings will change depending on the transaction activity in your chequing account, including spending patterns, expenses, and incoming funds but will not be more than the amount or percentage you set. After each transfer, you’ll receive a notification in the Scotia app letting you know the amount.
2) Savings Finder:
- Works best if you have a fluctuating source of income or expenses
- This tool looks at your source of income and cash flow to identify opportunities to save small amounts of money you can afford, when it appears that you can afford it. You set your monthly savings target, and Savings Finder will do the rest.
- You’ll receive a notification in the Scotia app once a month letting you know the total amount that was transferred from your chequing account to your Money Master savings account.
- No transfer will be more than $75, and funds won’t be transferred more than three times a week. Savings Finder won’t transfer more than the monthly savings target you set when you enrolled.
How clients can get started:
Step 1: Open a Money Master Savings Account & an eligible Scotia chequing account
Step 2: Download the Scotia app
Step 3: Enrol in one of the smart savings tools by tapping on Advice+ within the Scotia app
Step 4: Once enrolled, set up your monthly savings goal (an amount or % for Pay Yourself first, and an amount for Savings Finder)
- Pay Yourself First requirements – a Scotia chequing account, recurring deposit linked to that account, and a Money Master savings account.
- Savings Finder requirements – a Scotia chequing account and a Money Master savings account.
*Note: Savings Finder is the only smart savings tool available if you’re opening a new chequing account, but you’ll be able to switch to Pay Yourself First after 90 days if you have a recurring deposit.
Step 5: Money is moved between your Scotia chequing account to your Money Master Savings account automatically to reach your savings goals each month. Clients will also be eligible to earn the bonus interest on the daily account closing balance in your eligible Money Master Savings Account for so long as they remain enrolled. The bonus interest rate is an annual rate and is subject to change.
Resources:
For more information on the smart savings tools, visit:
EN = https://www.scotiabank.com/ca/en/personal/programs-services/smart-savings-tools.html
FR = https://www.scotiabank.com/ca/fr/particuliers/programmes-et-offres/outils-depargne-intelligents.html
Educational videos for the smart tools:
Savings finder tool:
EN https://www.youtube.com/watch?v=3vcDlFFVEns
FR https://www.youtube.com/watch?v=zI0DYBNOJpg
Pay yourself first:
EN https://www.youtube.com/watch?v=YYSfLA8ymhU
FR https://www.youtube.com/watch?v=orqnrpkUtuU
Best for: High interest savings at Big 5 bank
OPEN ACCOUNT
on Scotiabank's website
Welcome Bonus
Earn up to 5.00%* for the first 3 months
Regular Interest
Up to 2.2%
Monthly Fee
$0
The Scotia High Interest Savings Account provides a simple way to earn extra interest on your cash. All without paying a monthly fee. The account offers a seamless integration with Scotiabank’s broader banking ecosystem.
Unlike many savings accounts, the ongoing interest rate depends on your Total Relationship Balance across eligible Scotiabank products. This means customers with more assets at the bank may qualify for a higher interest rate. Those with smaller balances, though, earn less.
The account may be a suitable option for existing Scotiabank customers looking to keep their savings alongside their everyday banking. However, savers focused primarily on maximizing long-term interest rates may find better ongoing rates available from online banks.
You can earn up to 5.00%* for the first 3 months if you are not a current Scotia HISA or MomentumPLUS Savings Account holder and haven’t held either account in the last two years.
Regular interest rate
Up to 2.2%
$10,000 minimum Total Relationship Balance1 required to earn interest3
Promo interest rate
Earn an extra 2.8%
Get the promo rate for 3 months, on top of our regular tiered interest rates2 when you keep a Total Relationship Balance1 of at least $10,000. Conditions Apply.2
Not all savings accounts are created equal.
The Scotia High Interest Savings Account (HISA) is different - the more you deposit and invest with us, the higher your interest rate on your HISA account.
It's simple: keep a Total Relationship Balance1 of at least $10,000 to start earning a high interest rate. As the balances across your eligible accounts grow, so will the interest rate on your HISA.
Your HISA interest rate is determined by your Total Relationship Balance1, which is the combined daily closing balance in your eligible chequing, savings, and investment accounts.
- Earn competitive interest rates that increase as your Total Relationship Balance1 grows
- Pay no monthly account fees
- Make unlimited self-service transfers between your accounts4
OPEN ACCOUNT
on Scotiabank's website
Welcome Bonus
N/A
Regular Interest
Up to 0.95%
Monthly Fee
$0
Taking a different approach to savings, the Scotiabank Momentum Plus Savings Account rewards customers who leave their money untouched for longer periods. Customers can choose a savings period of 90, 180, 270 or 360 days, with longer periods earning a higher Premium Period Interest Rate.
The account has a tiered structure which may appeal to those savers who have specific goals and timelines. Its overall return, however, is less competitive than many of today’s higher-interest savings accounts. If you need regular access to your money, you may also find the premium period restrictive. With this in mind, we believe the Momentum Plus Savings Account may work best for existing Scotia customers who are saving towards a short-term goal. Rate-conscious savers will find stronger options elsewhere though.
Pros
- Competitive promotional rates
- No monthly fees or minimum balance
- Interest compounds daily
Cons
- The promotional high rate is limited in time
- No free Interac e-Transfers or debit access directly from the account
- After promotions, the ongoing rate is modest compared with many online banks and fintech savings products
Chequing Accounts
Best for: Canadian permanent residents, international students, and foreign workers.
OPEN ACCOUNT
on Scotiabank's website
Welcome Bonus
Earn up to $2,300 in value in the first year(1)
Monthly Fee
$16.95 (waivable)
Account Type
Chequing • Personal
Helping newcomers to Canada establish their financial footing, the Scotiabank StartRight® Program provides eligible customers with access to introductory banking products. The program also helps newcomers build credit and take advantage of special offers designed specifically for individuals who have recently arrived in the country. A key feature of the program is its ability to recognize credit history from select countries, which can help newcomers qualify for a higher credit limit than they may otherwise receive.
If you are a newcomer to Canada looking to simplify your transition, the StartRight® Program has a compelling combination of banking and credit-building opportunities, all while providing access to rewards-earning products. It's one of the more comprehensive newcomer banking packages offered by a major Canadian bank.
Qualify and earn up to $2,300 in first year value, including up to $580 with the StartRight Program2.
StartRight Program2 benefits
Worth up to $580 in value1
- No monthly account fee of $16.95 on the Preferred Package chequing account for the first year8. Valued at $200.
- Unlimited no-fee international money transfers10. Valued at $280.
- 10 free Scotia iTrade equity trades9. Valued at $100.
Chequing account welcome offer
Earn up to $7001
- Open a new eligible Scotiabank chequing account and complete 2 qualifying chequing account transactions. Valued at $500.
- Bundle your new chequing account with a new Money Masters Savings Account and set up a smart savings tool. Valued at $100.
- Bundle your new chequing account with an eligible registered account. Valued at $100.
Credit card welcome bonus
Worth up to $1,0801
Open a Scotiabank Passport Visa Infinite* Card to qualify for a welcome bonus offer. Earn Scene+ points and other benefits.17
- Up to 60,000 bonus Scene+ points with minimum spend. Valued at $600.
- Average foreign transaction fee savings on foreign currency purchases. Valued at $130.
- 6 Complimentary lounge visits. Valued at $350.
- Offer subject to change. Terms and conditions apply.
Total Value Combined
Up to $2,360
- Up to $2,300 in first year value1 when banking with Scotiabank, including up to $580 in value with the StartRight® Program2.
- Waive the monthly account fee for the first year5 when you open a Preferred Package chequing account.
- 24/7 banking through the Scotia app, phone, or chatbot, plus over 900 branches across Canada offering help in more than 50 languages.
- Collect rewards on everyday purchases with a Scene+ credit or debit card6 and get rewarded with travel, groceries, and more.
- Leverage your credit history from home to apply for a higher credit limit on your Scotia credit card3 with Nova Credit4.
How to Qualify for StartRight®
Qualifications
- Canadian permanent resident for five years or less
- International student
- Foreign worker
Required Documentation
Gather these documents prior to applying:
Permanent Resident
- Resident card or Confirmation of Permanent Residence
- Foreign passport or Canadian government-issued photo ID, like your driver's license
Foreign Worker
- Work permit
- Foreign passport or Canadian government-issued photo ID, like your driver's license
- If applying for a credit card, you'll also need a letter from your Canadian employer confirming your annual income
International Student
- Study Permit (IMM 1442) or Temporary Resident Visa (TRV)
- One additional piece of government photo ID such as your passport or Canadian driver’s licence
- Proof of enrollment from your Canadian Educational Institution such as your Student ID card or your course timetable
Pros
- Impressive first-year value
- 24/7 banking
- Everyday optimization opportunities
- Leverage credit history to apply for higher credit limit
Cons
- High fees after first year (without minimum balance)
- Credit card fees and income requirements
- Lower credit limits without Nova Credit credit history leverage
Account Fees
Monthly Fee
$16.95
Fee Waiver: StartRight Program Fee Waiver
Full waiver
No monthly account fee of $16.95 on the Preferred Package chequing account for the first year as part of the StartRight Program.
Credit Card Rebate
Up to $150
eStatement
Included
Transactions
Transactions
Unlimited free
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$1.5
USA
$3
International
$3
International & Currency
Foreign Currency Conversion
2.5%
Other Fees
NSF (Non-sufficient Funds)
$10
Overdraft Interest
21% annually (if used)
Bank Draft
$9.5
Best for: Premium Chequing Account with $150 credit card annual fee rebate
OPEN ACCOUNT
on Scotiabank's website
Welcome Bonus
Earn up to $700*
Monthly Fee
$30.95 (waivable)
Account Type
Chequing • Personal
The Scotiabank Ultimate Package combines unlimited day-to-day banking with a range of premium benefits for customers who want more than just the basics. Featuring unlimited transactions and Interac e-Transfers, the account also includes perks such as no-cost Global non-Scotiabank ATM withdrawals, an annual fee waiver on eligible credit cards and free trades through Scotia iTRADE.
The account delivers strong value for customers who can take advantage of its bundled benefits, particularly those who travel frequently or already use multiple Scotiabank products. Its monthly fee sits on the higher end, but customers who maintain the required minimum balance may qualify for a waiver. For those seeking premium all-in-one banking, the Ultimate Package ranks well among the offerings available from Canada's major banks.
- Earn up to $700* when you bundle an eligible banking package, savings account, and registered account. Earn an additional 0.10% on your Momentum Plus Savings Account
- Unlimited transactions, Interac e-transfer transactions and Scotia International Money Transfers
- Unlimited free Global non-Scotiabank ABM withdrawals
- Annual fee rebate each year on select credit cards (up to $150)
- Earn points on every day purchases with the Scene+™ program
- 8 more premium perks
- Offer valid from March 3, 2026 to July 2, 2026.
- Rates, fees and other information are effective as of October 31, 2025. Subject to change.
The Scotiabank $700* Cash Bonus Bundle Offer (the “Offer”) is available between October 31, 2025 and March 2, 2026 (the “Offer Period”) to individuals who open new eligible accounts. Subject to the Offer conditions, eligible clients can earn $500 when they open a new Preferred Package or Ultimate Package chequing account and complete certain qualifying transactions. Plus, clients who meet the conditions for the $500 bonus are also eligible to earn up to $200 in additional cash bonuses when they bundle their new Preferred or Ultimate Package chequing account with a new Money Master Savings Account and/or a new eligible Registered Account and complete certain qualifying transactions.
$500 Cash Bonus for Preferred or Ultimate Package Conditions: To qualify for the $500 cash bonus (the “$500 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 receive at least one eligible automated and recurring direct deposit†, such as payroll or pension, which will recur monthly for a minimum of six (6) consecutive months in total, or
- Set up and make a minimum of one (1) eligible recurring pre-authorized transaction with a value of at least $50 which will recur monthly for a minimum of six (6) consecutive months, or
- Make at least one (1) eligible online bill payment† 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 $500 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 $500 Package Bonus.
$100 Money Master Savings Account Bundle Conditions: To qualify for the $100 cash bonus (the “$100 Savings Bundle Bonus”), you must meet all of the conditions for the $500 Package Bonus, and:
1. During the Offer Period and within 60 days of opening your Eligible Chequing Account, open a new Eligible Registered Account (as defined below), and:
i. Open a new Money Master Savings Account (the “Eligible Savings Account”).
ii. Enroll your new Eligible Savings Account in either the Pay Yourself First or the Savings Finder tool (each a “Smart Savings Tool”).
2. Remain enrolled in your selected Smart Savings Tool for 90 consecutive days.
Note: Enrolment in a Smart Savings Tool is subject to certain eligibility requirements and can only be done through the Scotiabank mobile banking app. For example, enrollment in the Pay Yourself First tool will not be available if you have not had at least 4 recurring deposits to your Scotia Chequing Account at the time you attempt to enroll. Also, both the Eligible Chequing and Savings Accounts must be “Any to Sign” to be eligible for the Smart Savings tools. Only one Smart Savings Tool can be enrolled in at a time but you can switch tools at any time, however, you must remain enrolled in a Smart Savings Tool for 90 consecutive days from the date of first enrolment in step ‘1 (ii)’ above. See the Smart Savings Tool Agreement for full terms and conditions.
$100 Registered Account Bundle Conditions: To qualify for the $100 cash bonus (the “$100 Registered Bundle Bonus”), you must meet all of the conditions for the $500 Package Bonus, and:
1. During the Offer Period and within 60 days of opening your Eligible Chequing Account, open a new Eligible Registered Account (as defined below); and
2. Within 60 days of the Eligible Registered Account opening, contribute or transfer in a minimum of CAD $5,000 into your new Eligible Registered Account and maintain that minimum amount each day for at least three (3) consecutive months.
For the purposes of this Offer, the following Scotia Registered Accounts opened with either The Bank of Nova Scotia (“Scotiabank”) or Scotia Securities Inc. are defined as “Eligible Registered Accounts”: Scotia Registered Retirement Savings Plans (excluding Spousal RRSPs and 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 included in the definition and are not eligible for the Offer.
- $30.95 monthly fee (waived with a $6,000 daily balance or $30,000 combined with MomentumPLUS Savings)
- Unlimited everyday banking: debit transactions, bill payments, Interac e‑Transfers, and Scotia International Money Transfers
- Unlimited no-fee ATM withdrawals worldwide (Scotiabank and non‑Scotiabank)
- Up to $150 annual rebate on eligible Scotiabank credit card fees
- Earn Scene+ rewards: 1 point per $5 on debit purchases (and $1 at Cineplex)
- Interest boost: +0.10% on MomentumPLUS Savings account savings
- Free personalized cheques and unlimited drafts (CAD & USD)
- Free overdraft protection (no monthly protection fee); overdraft interest at 21% APR
- Additional perks: free small safety deposit box (~$55–$60 value), 10 free Scotia iTRADE equity trades in year 1 (5/year thereafter), complimentary credit score access, preferred mortgage/GIC rates
- Welcome bonus up to ~$700 (varies by offer period)
Account Fees
Monthly Fee
$30.95
Credit Card Rebate
Up to $150
eStatement
Included
Transactions
Transactions
Unlimited free
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$1.5
USA
$3
International
$5
International & Currency
Foreign Currency Conversion
2.5%
Other Fees
NSF (Non-sufficient Funds)
$10
Overdraft Interest
21% annually (if used)
Bank Draft
$0
OPEN ACCOUNT
on Scotiabank's website
Welcome Bonus
Earn up to $700*
Monthly Fee
$16.95 (waivable)
Account Type
Chequing • Personal
The Scotiabank Preferred Package offers a mix of everyday banking features and added perks for customers who use their chequing account regularly. Along with unlimited transactions and Interac e-Transfers, the account also allows customers to earn Scene+ points on eligible debit purchases. You may also qualify to receive an annual fee rebate on your Scotiabank credit card during your first year.
The account delivers solid value for customers who want unlimited banking without upgrading to a premium package. While the $16.95 monthly fee may deter some users, customers who maintain the required minimum balance can get a fee waiver. For Canadians looking for a well-rounded chequing account that balances features, rewards, and affordability, the Preferred Package remains a strong choice.
- Earn up to $700* when you bundle an eligible banking package, savings account, and registered account.
- Earn an additional 0.05% on your Momentum Plus Savings Account
- Unlimited debit transactions and Interac e-transfer transactions
- First year annual fee rebate on select credit cards (up to $150)
- Earn points on every day purchases with the Scene+™ program
- 4 more perks
- Offer valid from March 3, 2026 to July 2, 2026.
- Rates, fees and other information are effective as of October 31, 2025. Subject to change.
The Scotiabank $700* Cash Bonus Bundle Offer (the “Offer”) is available between October 31, 2025 and March 2, 2026 (the “Offer Period”) to individuals who open new eligible accounts. Subject to the Offer conditions, eligible clients can earn $500 when they open a new Preferred Package or Ultimate Package chequing account and complete certain qualifying transactions. Plus, clients who meet the conditions for the $500 bonus are also eligible to earn up to $200 in additional cash bonuses when they bundle their new Preferred or Ultimate Package chequing account with a new Money Master Savings Account and/or a new eligible Registered Account and complete certain qualifying transactions.
$500 Cash Bonus for Preferred or Ultimate Package Conditions: To qualify for the $500 cash bonus (the “$500 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 receive at least one eligible automated and recurring direct deposit†, such as payroll or pension, which will recur monthly for a minimum of six (6) consecutive months in total, or
- Set up and make a minimum of one (1) eligible recurring pre-authorized transaction with a value of at least $50 which will recur monthly for a minimum of six (6) consecutive months, or
- Make at least one (1) eligible online bill payment† 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 $500 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 $500 Package Bonus.
$100 Money Master Savings Account Bundle Conditions: To qualify for the $100 cash bonus (the “$100 Savings Bundle Bonus”), you must meet all of the conditions for the $500 Package Bonus, and:
1. During the Offer Period and within 60 days of opening your Eligible Chequing Account, open a new Eligible Registered Account (as defined below); and:
i. Open a new Money Master Savings Account (the “Eligible Savings Account”).
ii. Enroll your new Eligible Savings Account in either the Pay Yourself First or the Savings Finder tool (each a “Smart Savings Tool”).
2. Remain enrolled in your selected Smart Savings Tool for 90 consecutive days.
Note: Enrolment in a Smart Savings Tool is subject to certain eligibility requirements and can only be done through the Scotiabank mobile banking app. For example, enrollment in the Pay Yourself First tool will not be available if you have not had at least 4 recurring deposits to your Scotia Chequing Account at the time you attempt to enroll. Also, both the Eligible Chequing and Savings Accounts must be “Any to Sign” to be eligible for the Smart Savings tools. Only one Smart Savings Tool can be enrolled in at a time but you can switch tools at any time, however, you must remain enrolled in a Smart Savings Tool for 90 consecutive days from the date of first enrolment in step ‘1 (ii)’ above. See the Smart Savings Tool Agreement for full terms and conditions.
$100 Registered Account Bundle Conditions: To qualify for the $100 cash bonus (the “$100 Registered Bundle Bonus”), you must meet all of the conditions for the $500 Package Bonus, and:
1. During the Offer Period and within 60 days of opening your Eligible Chequing Account, open a new Eligible Registered Account (as defined below); and
2. Within 60 days of the Eligible Registered Account opening, contribute or transfer in a minimum of CAD $5,000 into your new Eligible Registered Account and maintain that minimum amount each day for at least three (3) consecutive months.
For the purposes of this Offer, the following Scotia Registered Accounts opened with either The Bank of Nova Scotia (“Scotiabank”) or Scotia Securities Inc. are defined as “Eligible Registered Accounts”: Scotia Registered Retirement Savings Plans (excluding Spousal RRSPs and 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 included in the definition and are not eligible for the Offer.
Account Fees
Monthly Fee
$16.95
Credit Card Rebate
Up to $150
eStatement
Included
Transactions
Transactions
Unlimited free
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$1.5
USA
$3
International
$5
International & Currency
Foreign Currency Conversion
2.5%
Other Fees
NSF (Non-sufficient Funds)
$10
Overdraft Interest
21% annually (if used)
Bank Draft
$9.5
OPEN ACCOUNT
on Scotiabank's website
Welcome Bonus
N/A
Monthly Fee
$11.95 (waivable)
Account Type
Chequing • Personal
The Scotiabank Basic Plus Bank Account strikes a balance between affordability and functionality. Including 25 debit transactions each month, the account also has unlimited Interac e-Transfers as well as the ability to earn Scene+ points on eligible debit purchases.
The features of the Basic Plus Bank Account make it a practical option for those who want more than “just the basics” but also don’t want to pay for unlimited banking. Customers who frequently use debit transactions may find more value in a different package, though.
Account Fees
Monthly Fee
$11.95
eStatement
Included
Transactions
Included Transactions / Month
25 free
Fee After Limit
$1.25 each
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$1.5
USA
$3
International
$5
International & Currency
Foreign Currency Conversion
2.5%
Other Fees
NSF (Non-sufficient Funds)
$45
Overdraft Interest
21% annually (if used)
Bank Draft
$9.5
OPEN ACCOUNT
on Scotiabank's website
Welcome Bonus
N/A
Monthly Fee
$3.95
Account Type
Chequing • Personal
The Scotiabank Basic Bank Account keeps banking costs low. For a modest monthly fee of just $3.95, customers receive a limited number of monthly transactions without needing to maintain a minimum balance. Certain groups, including Indigenous Peoples, RDSP beneficiaries, and individuals receiving social assistance, may also qualify for the account at no cost.
While the account offers affordable banking, its transaction limit may feel restrictive for some customers. Those who regularly make debit purchases may find better value in a higher-tier account. For light banking users who prioritize simplicity and low costs, however, the Basic Bank Account is a reasonable option.
Account Fees
Monthly Fee
$3.95
eStatement
Included
Transactions
Included Transactions / Month
18 free
Fee After Limit
$1.25 each
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$1.5
USA
$3
International
$5
International & Currency
Foreign Currency Conversion
2.5%
Other Fees
NSF (Non-sufficient Funds)
$45
Overdraft Interest
21% annually (if used)
Bank Draft
$9.5
Best for: No fees and earning points on debit transactions
OPEN ACCOUNT
on Scotiabank's website
Welcome Bonus
Earn up to $175*
Monthly Fee
$0
Account Type
Chequing • Student
The Scotiabank Preferred Package for Students and Youth delivers unlimited transactions and Interac e-Transfers as well as the opportunity to earn Scene+ points on qualifying debit purchases. At no monthly cost, the account provides access to Scotiabank's extensive branch and ATM network for those who qualify.
Unlike many student or youth accounts that limit features or transaction volumes, the Preferred Package includes many of the same benefits available to regular banking customers but without the cost. For eligible individuals, the package ranks among the strongest student and youth banking options offered by a major Canadian bank.
Earn up to $175 welcome bonus when you open a new Preferred Package for Students and Youth*
*To qualify for the $175 welcome bonus (the “Offer”), you must:
Open a new Preferred Package for Students and Youth (an “Eligible Account”) between January 2 and July 1, 2026; and
Complete any two of the following activities in your Eligible Account within 60 days of Eligible Account opening:
- Set up and make at least 1 eligible♢♢ automated and recurring direct deposit, which will recur monthly for a minimum of three (3) consecutive months, or
- Set up and make 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, or
- Complete at least five online (5) Visa* Debit purchases 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, Preferred Package for Students and Youth, 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 $175 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 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.
- You are eligible for the Preferred Package for Students and Youth (chequing account) if you are under 25 years of age or are enrolled full-time in a university, community college, or another recognized post-secondary institution in Canada or the United States. You will be required to confirm your student status by providing proof of enrollment.
- No monthly account fee*, unlimited debit and Interac e-transfer transactions
- Earn points on everyday purchases with the Scene+™ program
- Earn an additional 0.05% on your Momentum Plus Savings Account
- Free trades for students and youth with Scotia iTRADE
- Rates, fees and other information are effective as of June 1, 2025. Subject to change.
Account Fees
Monthly Fee
$0
eStatement
Included
Transactions
Transactions
Unlimited free
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$2
USA
$3
International
$5
International & Currency
Foreign Currency Conversion
2.5%
Other Fees
NSF (Non-sufficient Funds)
$10
Overdraft Interest
21% annually (if used)
Bank Draft
$9.5
Credit Cards
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on Scotiabank's website
Welcome Bonus
7.99% introductory interest rate up to 6 months
Annual Fee
$0
Interest Rates
20.99% / 22.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
2/5
The Scotiabank Momentum Mastercard stands out as a solid no-fee option for those looking to earn cash back on everyday categories like gas and groceries. With 1% cash back in key spending categories and wide acceptance, it’s a practical card to keep in your wallet, especially if you're a regular Costco shopper. While it lacks insurance coverage, the absence of an annual fee and the consistent cash back on essentials make it a good entry-level card for budget-conscious users.
Pros
- No annual fee
- Decent everyday cashback
- Wide acceptance
- Costco acceptance
- Car rental discounts
Cons
- Low base earn rate
- No insurance
Rewards
- 1% cashback on gas, groceries, drug store and recurring payments
- 0.5% cashback on all other credit card purchases.
Benefits
Details
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Eligibility
Credit Score
GoodAnnual Income
N/A
APPLY NOW
on Scotiabank's website
Welcome Bonus
For a limited time, earn 10% Cash back on all purchases (up to $2,000 in purchases)(1)
Annual Fee
$0
Interest Rates
19.99% / 22.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.1/5
The Scotiabank Momentum® No-Fee Visa* Card is ideal for those seeking a straightforward, entry-level credit card to build their credit while earning modest cash back on everyday purchases like groceries, gas, and bills. With no annual fee, a competitive balance transfer offer, and a high spending cap, it's a practical choice for young adults or newcomers who want to earn rewards without the complexities of more premium cards.
Pros
- No annual fee
- Generous welcome bonus
- Decent rewards
- Car rental discounts
Cons
- No insurance
- Annual redemption
- Relatively lower earn rate
Rewards
- 1% cash back on gas, groceries, drug store, transit, rideshare, food delivery and recurring payments
- 0.5% cash back on all other credit card purchases (unlimited)
Benefits
Details
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Eligibility
Credit Score
GoodAnnual Income
$12,000 personal
Our choice for: Best value on recurring bills and groceries
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on Scotiabank's website
Welcome Bonus
Earn 15% Cash Back on all purchases for the first 3 months and no annual card fees in the first year
Annual Fee
$120 $0
Interest Rates
20.99% / 22.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.6/5
The 4% cashback offered on groceries and recurring purchases is the highest among all other credit cards. With the first year's annual fee waived, and with the right transactions used on this credit card, a high amount of cashback could be earned.
Pros
- High grocery optimization
- High recurring payment optimization
- High insurance coverage
- First-year fee rebate
- Car rental discounts
Cons
- Low base earn rate
- Income requirements
Rewards
- 4% for every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases
- 2% for every $1 you spend on gas and daily transit purchases
- New 2% Cash Back earn category: You will earn 2% on all eligible purchases of Food Delivery4
- 1% cash back on all other purchases with no cashback limit
- New Cash Back Anytime feature: Redeem your cash back that you’ve earned whenever you need it, through the Scotia app or Scotia Online ($25.00 minimum redemption)¹
- Rates, fees and other information are effective as of May 1, 2026. Subject to change.
Insurance
Coverage
Mobile Device Insurance
$1,000
Common Carrier Travel Accident Insurance
$500,000
Travel Medical Insurance (64 & under)
15 days
Trip Interruption
$2,000
Trip Cancellation
$1,500
Flight Delay
$500
Lost or Stolen Baggage
$500Baggage Delay
$500.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Car Rental Damage & Theft
48 days
Purchase Protection
90 days
Extended Warranty
1 year
Benefits
Details
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Discount11
Yearly GigSky 1GB/15-Day plan, 20% off future purchases, and 10GB of global data for 15 days with Travel Essentials
Visa Infinite Exclusive Benefits
Yes
Eligibility
Credit Score
GoodAnnual Income
$60,000 personal or $100,000 household
APPLY NOW
on Scotiabank's website
Welcome Bonus
2.99% introductory interest rate on balance transfers up to 6 months[1]
Annual Fee
$79
Interest Rates
19.99% / 22.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.6/5
One of the strongest cashback cards for businesses that spend heavily on gas, dining, office supplies, and recurring payments — 3% back in those categories with a generous $50,000 annual cap. At just $79/year, it doesn’t take much spending to come out well ahead. The 1% base rate on everything else is decent too. There’s no traditional welcome bonus, which is a miss, but the promotional 2.99% balance transfer rate can be useful if you’re consolidating business debt. Skip this if you want travel perks or lounge access — it’s purely a cashback play, and a good one.
Pros
- Strong cashback
- High annual spending cap
- Reasonable annual fee
- Promotional balance transfer rate
- Interest-free grace period
- Low-fee employee cards
- Visa SavingsEdge discounts
- Extensive travel medical insurance
Cons
- Foreign transaction fees
- Limited travel perks
- Annual redemption
- Basic insurance
Rewards
- 3% cash back on eligible gas station, restaurant and office supply store purchases, and on eligible recurring bill payments2
- 2% Cash Back on Shipping and Accounting and Bookkeeping Services2
- 1% cash back on all other everyday purchases for your business2
- 25-day interest-free grace period on new purchases3
Insurance
Coverage
Extended Warranty
1 yearPurchase Protection
90 daysTravel Medical Insurance (64 & under)
Up to 8 daysTravel Medical Insurance (65 to 75)
Up to 3 daysCar Rental Damage & Theft
Yes
Eligibility
Credit Score
GoodAnnual Income
N/A
APPLY NOW
on Scotiabank's website
Welcome Bonus
2.99% introductory interest rate on balance transfers up to 6 months
Annual Fee
$39
Interest Rates
19.99% / 22.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.1/5
The Scotiabank Momentum Visa is a low annual fee cash back card that offers impressive earn rates on a variety of everyday spending categories, making it an excellent choice for those who want to maximize rewards without the higher cost of its Visa Infinite counterpart.
Pros
- Decent optimization
- Low balance transfer rate
- Low annual fee
- Car rental discounts
Cons
- Limited insurance
- Annual redemption
Rewards
- 2% cash back on gas, groceries, transit, rideshare, food delivery, drug store and recurring payments (maximum $500 annually)
- 1% cashback on all other credit card purchases.
Insurance
Coverage
Extended Warranty
1 yearPurchase Protection
90 days
Benefits
Details
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Eligibility
Credit Score
GoodAnnual Income
$12,000 personal
APPLY NOW
on Scotiabank's website
Welcome Bonus
Up to 5,000 bonus Scene+ points ($50 value towards travel)
Annual Fee
$0
Interest Rates
21.99 / 22.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.3/5
If you're looking to earn travel rewards without an annual fee, the Scotiabank American Express® Card is a great choice. It offers flexible Scene+ points on everyday purchases, allowing you to redeem rewards for travel, entertainment, and more—all while enjoying plenty of perks at no extra cost.
Pros
- Strong rewards
- Shell Fuel Savings
- Mobile device insurance
- Exclusive perks
- No annual fee
- Flexible redemptions
- Instant decision. No credit impact.
Cons
- Limited insurance
- Lower acceptance
Rewards
- Earn 3x Scene+ points on every $1 you spend at Sobeys, Safeway, Freshco and more
- Earn 2x Scene+ points for every $1 you spend on restaurants, fast food, drinking establishments and other eligible grocery stores. Includes popular food delivery and food subscriptions.
- Earn 2x Scene+ points for every $1 you spend on eligible entertainment purchases. Includes movies, theatre and ticket agencies stores.
- Earn 2x Scene+ points for every $1 you spend on eligible gas and daily transit. Includes rideshares, buses, subway, taxis and more
- Earn 2x Scene+ points for every $1 you spend on eligible select streaming services
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 4x Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
Insurance
Coverage
Mobile Device Insurance
$500Purchase Protection
90 daysExtended Warranty
Up to a year
Benefits
Details
American Express® Experiences
.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Gas Discount1
Get up to 11¢/L in value on fuel purchases at Shell stationsCar Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Eligibility
Credit Score
GoodAnnual Income
$12,000 personal
Our choice for: Great rewards, travel benefits and no FX fees
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on Scotiabank's website
Welcome Bonus
Earn up to $850 in welcome offers, first year rewards and savings value, and up to 45,000 bonus Scene+ points.(1)
Annual Fee
$120
Interest Rates
21.99% / 22.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.9/5
The Scotiabank Gold American Express® Card is one of our favorite cards. It has a very solid rewards program, earning one of the highest rewards among all credit cards in Canada. In addition, it offers comprehensive travel benefits, including the rare and valuable no foreign transaction fee benefit, making it a great and balanced credit card in terms of both rewards and benefits. The first-year annual fee waiver is the cherry on top, providing even greater value to cardholders.
Pros
- No foreign transaction fees
- Well-rounded rewards
- Shell Fuel Savings
- Comprehensive insurance
- Flexible redemptions
- Instant decision. No credit impact.
Cons
- Limited acceptance
- No lounge access
- Annual fee
Rewards
- Earn 6x Scene+ points on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more*
- Earn 5x Scene+ points for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.*
- Earn 5x Scene+ points for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.*
- Earn 3x Scene+ points for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more*
- Earn 3x Scene+ points for every $1 CAD you spend in Canada on eligible select streaming services*
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 4x Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
Insurance
Coverage
Travel Medical Insurance (64 & under)
$1M, Up to 25 daysTravel Medical Insurance (65 to 75)
$1M, Up to 3 daysTrip Cancellation
$1,500/person, $10,000/tripTrip Interruption
$1,500/person, $10,000/tripLost or Stolen Baggage
$500/person, $1,000/tripBaggage Delay
$500/person, $1,000/trip After 4 hoursFlight Delay
$500/personCommon Carrier Travel Accident Insurance
$500K/person, $1M/occurrenceCar Rental Damage & Theft
$65K up to 48 days
Hotel Burglary Insurance
$1,000/occurrenceMobile Device Insurance
$1,000Purchase Protection
90 daysExtended Warranty
Up to 1 year
Benefits
Details
No Foreign Transaction Fees
Avoid the 2.5% foreign transaction fees incurred when spending in non $CADGas Discount2
Get up to 12¢/L in value on fuel purchases at Shell stationsAmerican Express® Experiences
.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Concierge Services
Discount
Discount on PriorityPass Membership
Eligibility
Credit Score
GoodAnnual Income
$12,000 personal or $12,000 household
Our choice for: Premium Travel Perks and No FX Fees
APPLY NOW
on Scotiabank's website
Welcome Bonus
Earn up to 40,000 bonus Scene+ points [1]
Annual Fee
$199 $0
Interest Rates
19.99% / 22.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
5/5
The standout feature is simple: no foreign transaction fees. For any business that regularly pays suppliers abroad, books international travel, or has USD expenses, this saves 2.5% on every foreign purchase — savings that add up fast. On top of that, you earn a flat 1.5 Scene+ points per dollar on everything with no caps or categories. The $199 fee is higher than average, but you get six airport lounge visits per year, solid travel insurance, and a 40,000-point welcome bonus. If your business spending is mostly domestic and you don’t travel, the fee is hard to justify. But for internationally active businesses, this is one of the best options in Canada.
Awards & Recognition
Best Business Credit Card
2026
Pros
- No foreign transaction fees
- Strong rewards
- Generous welcome bonus
- Airport lounge access
- Shell Fuel Savings
- Comprehensive travel coverage
- Flexible redemptions
- First additional card free
- Visa Infinite benefits
Cons
- Higher annual fee
- Welcome bonus spending requirements
- High income requirement
- Additional card fees
Rewards
- Earn 1.5X the Scene+TM‡ points for every $1 spent2 on purchases for your business
- Enjoy no Foreign Transaction Fees3 whether you make purchases online or outside of Canada
Insurance
Coverage
Travel Medical Insurance (64 & under)
$2M/insured up to 25 daysTravel Medical Insurance (65 to 75)
$2M/insured up to 10 daysTrip Cancellation
$2,500/person, $10,000/tripTrip Interruption
$2,500/person, $10,000/tripFlight Delay
$500/person after 4 hoursLost or Stolen Baggage
$1,000Baggage Delay
$1,000Common Carrier Travel Accident Insurance
$500,000/insured, $1M combinedCar Rental Damage & Theft
$65,000 up to 48 daysHotel Burglary Insurance
$1,000Purchase Protection
90 daysExtended Warranty
1 year
Benefits
Details
No Foreign Transaction Fees
Avoid the usual 2.5% forex fees on your purchases when you travel outside of Canada
Airport Lounge - Dragon Pass
6 Free complimentary visitsGas Discount4
Get up to 10¢/L in value with Shell Go+.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Status lift
Avis® Preferred Plus membershipConcierge Services
Visa Infinite Exclusive Benefits
Eligibility
Credit Score
GoodAnnual Income
$60,000 personal or $100,000 household
Our choice for: Best Travel Value with Extremely High Travel Insurance
APPLY NOW
on Scotiabank's website
Welcome Bonus
Earn up to 80,000 bonus Scene+ points
Annual Fee
$599
Interest Rates
20.99% / 22.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.5/5
For frequent flyers who want a single card that handles almost every travel need, this one’s hard to beat. It offers a hefty intro bonus, an annual Scene+ Travel credit that’s as good as cash when you book through Expedia, and complimentary DragonPass lounge visits each year. Pair that with no foreign‑currency markup, rich earn rates on travel and dining/entertainment, and unusually comprehensive travel insurance, and the annual fee can pay for itself quickly for anyone who travels a few times a year.
Pros
- No foreign transaction fees
- Generous welcome bonus
- Annual travel credit
- Shell Fuel Savings
- Airport lounge access
- Accelerated earn rates
- Comprehensive coverage
- Premium extras
Cons
- Higher annual fee
- Steep qualifications bar
- Fixed-value Scene+ points
Rewards
- Earn 3X the Scene+ points for every $1 you spend on eligible travel purchases. Plus, earn an extra 3X the points on hotel bookings, car rentals, and things to do when you book through Scene+ Travel, Powered by Expedia. That's a total of 6X the points!
- Earn 2X the Scene+ points for every $1 you spend on eligible dining and entertainment.
- Plus, earn 1X the Scene+ points for every $1 you spend on all other eligible purchases.
Insurance
Coverage
Mobile Device Insurance
$1,000Travel Medical Insurance (64 & under)
$5M/insured up to 31 daysTravel Medical Insurance (65 to 75)
$5M/insured up to 10 daysTrip Cancellation
$2,500/person, $10,000/tripTrip Interruption
$5,000/person, $25,000/tripFlight Delay
$1,000/personLost or Stolen Baggage
$2,500/person (max $5,000 per trip)Baggage Delay
$1,000/personHotel Burglary Insurance
$2,500Common Carrier Travel Accident Insurance
$500,000/insuredCar Rental Damage & Theft
Covers vehicles MSRP ≤ $85k, rentals ≤ 48 daysPurchase Protection
180 daysExtended Warranty
2 years
Benefits
Details
No Foreign Transaction Fees
Avoid the usual 2.5% forex fees on your purchases when you travel outside of Canada.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Travel Credit
$250 annual Scene+ Travel credit – automatic statement credit on your first Expedia‑powered booking each membership year.Airport Lounge - Dragon Pass
10 Free complimentary visitsGas Discount2
Get up to 10¢/L in value on fuel purchases at Shell stationsStatus lift
Avis President’s Club membership – two class upgrades, priority service.Concierge Services
24/7 Visa Infinite Privilege concierge (English & French)Visa Infinite Exclusive Benefits
Priority Travel
Dedicated security and taxi lanes, valet and parking discounts at select Canadian airports.
Eligibility
Credit Score
GoodAnnual Income
$150,000 personal or $200,000 household
Our choice for: Premium Travel Perks and No FX Fees
APPLY NOW
on Scotiabank's website
Welcome Bonus
Earn up to $1,500 in value, including up to 60,000 bonus Scene+ points
Annual Fee
$150
Interest Rates
20.99% / 22.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.9/5
The Scotiabank Passport Visa Infinite is a strong choice for frequent travelers, especially those who value flexibility and premium perks. It stands out with its rare benefit of no foreign transaction fees, making international purchases more cost-effective. Additionally, the card offers a valuable blend of travel perks, including airport lounge access, comprehensive insurance coverage, and flexible rewards, making it an ideal companion for those who frequently travel abroad and want to avoid extra fees while enjoying premium benefits.
Awards & Recognition
Best Travel Credit Card
2026
Pros
- High rewards
- No foreign transaction fees
- Airport lounge access
- Shell Fuel Savings
- Comprehensive insurance
- Generous intro offer
Cons
- High income requirements
- High annual fee
Rewards
- Earn 3x Scene+™ points on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more†
- Earn 2x Scene+™ points for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including rideshares, buses, subways taxis and more)†
- Plus earn 1 Scene+™ point for every $1 spent on all other eligible everyday purchases†
- Earn additional benefits + up to 4x Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia†
Insurance
Coverage
Travel Medical Insurance (64 & under)
$2M/insured up to 25 daysTravel Medical Insurance (65 to 75)
$2M/insured up to 3 daysTrip Cancellation
$1,500/person, $10,000/tripTrip Interruption
$2,500/person, $10,000/tripFlight Delay
$500/person after 4 hoursLost or Stolen Baggage
$1,000Baggage Delay
$1,000Common Carrier Travel Accident Insurance
$500,000/insured, $1M combinedCar Rental Damage & Theft
$65,000 up to 48 daysHotel Burglary Insurance
$1,000Purchase Protection
90 daysExtended Warranty
1 year
Benefits
Details
No Foreign Transaction Fees
Avoid the usual 2.5% forex fees on your purchases when you travel outside of CanadaAirport Lounge - Dragon Pass
6 Free complimentary visitsGas Discount2
Get up to 10¢/L in value on fuel purchases at Shell stationsStatus lift
Avis® Preferred Plus membershipConcierge Services
Discount**
Yearly GigSky 1GB/15-Day plan, 20% off future purchases, and 10GB of global data for 15 days with Travel EssentialsVisa Infinite Exclusive Benefits
Eligibility
Credit Score
GoodAnnual Income
$60,000 personal or $100,000 household
Our choice for: Luxury Travel + No FX Fees
APPLY NOW
on Scotiabank's website
Welcome Bonus
Earn up to $2,500* in value in the first 14 months, including up to 80,000 bonus Scene+ points.
Annual Fee
$399
Interest Rates
9.99% / 9.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.8/5
The Scotiabank Platinum American Express is the perfect choice for those seeking a super premium credit card without steep income requirements. With a high flat rate of rewards on all purchases, extensive insurance coverage, and flexible travel redemption options, it offers full-featured perks that cater to frequent travelers and savvy spenders alike.
Pros
- Low interest rates
- Strong rewards
- Airport lounge access
- Comprehensive travel insurance
- Shell Fuel Savings
- Flexible travel rewards
- No foreign transaction fees
- Instant decision. No credit impact.
Cons
- Higher annual fee
- Limited premium perks
Rewards
- Earn 2x Scene+ points for every $1 spent on all other eligible purchases
- Earn additional benefits + up to 4x Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
Insurance
Coverage
Travel Medical Insurance (64 & under)
$2M, Up to 31 daysTravel Medical Insurance (65 to 75)
$2M, Up to 10 daysTrip Cancellation
$2500/person, $10000/tripLost or Stolen Baggage
$500/person, $1000/tripTrip Interruption
$5000/person, $25000/tripBaggage Delay
$1000 After 4 hoursFlight Delay
$1000/personCommon Carrier Travel Accident Insurance
$500K/person, $1M/occurrenceCar Rental Damage & Theft
$65K up to 48 daysHotel Burglary Insurance
$1000/occurrenceMobile Device Insurance
$1000Purchase Protection
120 daysExtended Warranty
Up to a year
Benefits
Details
No Foreign Transaction Fees
Airport Lounge - Plaza Premium
10 visits, 4 visits for secondary card (combined with the Priority pass)Airport Lounge - Priority Pass
10 visits, 4 visits for secondary card (combined with the Plaza Premium)Gas Discount1
Get up to 11¢/L in value on fuel purchases at Shell stationsAmerican Express® Experiences
Concierge Services
Discount
Discount on PriorityPass MembershipStatus lift
Hertz #1 Club Gold Member
Extra points
Extra 4 Scene+ points per Canadian dollar spent on hotel and car rental bookings made through Scene+ Travel using your Scotiabank Platinum American Express Card
Eligibility
Credit Score
GoodAnnual Income
$12,000 personal or $12,000 household
APPLY NOW
on Scotiabank's website
Welcome Bonus
0.99% interest on balance transfers for 9 months + first year fee rebate
Rewards Rate
0%
Annual Fee
$29 $0
Interest Rates
13.99%* / 13.99%*
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.1/5
This is a great card for those who carry a balance every month and want to take advantage of much lower interest rates compared to most other cards. It also comes with a great introductory balance transfer rate for a limited number of months.
Pros
- Balance transfer promotion
- Low interest rates
- First-year fee rebate
- Shell Fuel Savings
- Balance protection
- Car rental discounts
Cons
- No rewards
- Limited extras
Rewards
This card does not earn rewards on purchases but instead offers much lower interest rates.
Insurance
Coverage
Balance Protection
optional
Benefits
Details
Car Rental Discount
Avis car rental discount up to 25% worldwideGas Discount1
Get up to 5¢/L in value on fuel purchases at Shell stations
Eligibility
Credit Score
GoodAnnual Income
N/A
APPLY NOW
on Scotiabank's website
Welcome Bonus
Earn up to 10,000 bonus Scene+ points within your first 3 months(1).
Annual Fee
$0
Interest Rates
21.99%* / 22.99%*
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.7/5
We like this card because it offers solid rewards with no annual fee, including the opportunity to earn bonus Scene+ points within the first few months. With 2x Scene+ points on purchases at popular grocery stores, home improvement retailers, and Cineplex, plus 1x points on all other purchases, it's a great option for maximizing everyday spending.
Pros
- No annual fee
- Shell Fuel Savings
- Universal rewards
- Flexible redemptions
Cons
- Limited bonus categories
- Limited partner grocer rewards
- Lacks travel insurance
Rewards
- Earn 2x Scene+ points on every $1 you spend at Sobeys, Safeway, IGA, Foodland, participating Co-ops, Freshco and more
- Earn 2x Scene+ points for every $1 you spend on Home Hardware, Home Building Center, Home Furniture locations in Canada and online at homehardware.ca
- Earn 2x Scene+ points for every $1 you spend at Cineplex theatres or online at cineplex.com
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 4x Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
Benefits
Details
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A CarGas Discount2
Get up to 10¢/L in value on fuel purchases at Shell stations
Eligibility
Credit Score
GoodAnnual Income
N/A
Customer Experience
2.7/5
While Scotiabank has a large branch network and a highly rated mobile application, it also receives mixed reviews from customers. Compared to the other Big Five banks in Canada, Scotia has the lowest Trustpilot score, with a rating of 1.2 out of 5 stars. Complaints include those about staff, who are said to be "unaccommodating and unprofessional," as well as “unresolved issues, and a lack of responsiveness" from the bank. This negative feedback weighs on Scotia’s customer experience score. But its mobile application is well-rated, ranking in the top three within Surviscor’s annual Consumer Mobile Banking Experience review.
Rating Methodology
How We Rate Bank of Nova Scotia (Scotiabank)
Our ratings are based on a comprehensive evaluation of each financial institution across multiple categories. We assess the quality and competitiveness of their products, fees, interest rates, customer experience, and overall value proposition.
Overall Rating
A weighted average reflecting the institution's performance across all evaluated categories.
Product Offerings
Evaluates the breadth and quality of available products including credit cards, savings accounts, and chequing accounts.
Fees & Rates
Compares monthly fees, interest rates, and fee waiver options against industry standards.
Customer Experience
Assesses the quality of customer support, digital banking tools, and overall user experience.
Rating Scale: All ratings are on a scale of 0 to 5, where 5 represents exceptional performance and 0 represents significant concerns. Ratings are reviewed and updated regularly to reflect changes in products, pricing, and services.
Frequently Asked Questions
Yes, Scotiabank offers one of the strongest credit card profiles among Canada’s major banks with options for travel, cash back and everyday spending.
As Scotia participates in the Global ATM Alliance, your applicable fees will depend on the type of ATM you use. If you withdraw cash using a machine that is part of this alliance, you can avoid certain ATM access fees. It is important to note, though, that exchange rate expenses and other charges from the ATM’s operator may still apply. When you use an ATM that is not part of the Global ATM Alliance, you will see an additional ATM access fee from Scotiabank, the ATM operator, or both.