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Pros & Cons
Pros
- +Purchase protection included
- +No annual fee
Cons
- –Foreign Transaction Fee (2.5%)
Our Review
The Scotia Momentum for business No Fee Visa Card is the entry point to cash back business cards in Canada: no annual fee, and no fee for your employees’ cards.
Welcome offer: earn 10% cash back on your first $1,500 in eligible purchases in the first 3 months, up to $150.
After that, you earn 1% cash back on all your eligible business purchases, with no annual cap.
Also note that you can use your cash back at any time (the cash back balance must be at least $25) and that it never expires as long as your account remains open. You can apply it as a statement credit or deposit it into a Scotiabank account.
With the Scotia Momentum for business No Fee Visa Card, you also benefit from protections for your purchases:
- Purchase Protection for 90 days
- Extended warranty on items purchased
- Mobile device insurance up to $1,000
The card also offers practical management tools for your business:
- Free supplementary cards for your employees
- Visa Spend Clarity for Business expense management tool
- Detailed expense reports by employee and by category
- Access to online statements
- Up to 6¢/L in value at Shell with a linked Shell Go+ account
Rewards
All Spending
1x
Cash Back pts per dollar
Credit Card Rewards Calculator
See how much you could earn with this card based on your spending.
Cashback earned
$300
$/yr
Estimated Value
$300
After Fees
+$300
1st Year Value
$300
incl. welcome bonus
Annual rewards breakdown
Purchase Protection
Purchase Protection
Included
Extended Warranty
+1 year(s)
Mobile Device
Included
Fees and interest rates
- Annual Fee$0
- Additional card fee$0
- Foreign currency conversion fee2.5%
- Purchase Rate21.99%
- Cash advance rate23.99%
Terms & Conditions
Card Features
Welcome offer: earn 10% cash back on your first $1,500 in eligible purchases during the first three months, up to $150.
Offer valid from August 17, 2026 to February 28, 2027, for new cardholders only. You are not eligible if you have held a Scotiabank business credit card, as primary or secondary cardholder, in the past two years.
No annual fee. No fee for supplementary cards. 1% cash back on eligible purchases with no annual cap. Annual interest rate of 21.99% on purchases and 23.99% on cash advances. Minimum credit limit of $5,000. Foreign currency conversion fee of 2.5%.
Mobile device insurance up to $1,000, 90-day purchase protection and extended warranty. Visa Spend Clarity for Business expense management tool. Visa Zero Liability protection. Savings of up to 6¢ per litre in value at Shell with a linked Shell Go+ account.
Legal
*Conditions apply. Rates, fees and other information are those published by Scotiabank and were recorded on August 18, 2026. Subject to change.
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FAQ
What does the Scotia Momentum for business No Fee Visa Card cost?
There is no annual fee on the primary card or on supplementary cards. A 2.5% conversion fee applies on purchases made in a currency other than Canadian dollars. The annual interest rate is 21.99% on purchases and 23.99% on cash advances.
How much cash back does the card earn?
The card earns 1% cash back on every eligible business purchase, with no annual cap. The rate is flat: there is no bonus category, unlike the Scotia Momentum for business Visa Card, which pays 3% on gas, restaurants, office supplies and recurring payments.
What is the welcome offer?
Scotiabank pays 10% cash back on the first $1,500 in purchases made during the first three months, for a maximum of $150. The offer runs from August 17, 2026 to February 28, 2027 and is for new cardholders. Businesses that have held a Scotiabank business credit card in the past two years, as primary or secondary cardholder, are not eligible.
Should you take the no-fee version or the $79 one?
It depends on where the spending goes. The $79 version pays 3% on gas, restaurants, office supplies and recurring payments, two points more than the no-fee version. That gap covers the $79 annual fee from roughly $4,000 in yearly spending across those four categories. Below that threshold, the no-fee version pays more.
Are employee supplementary cards free?
Yes. Supplementary cards carry no fee, and all spending is pooled on the primary account, so on a single cash back balance. Visa Spend Clarity for Business then lets you track spending by employee and by category, and export it to accounting software.
Is the card suitable for purchases in foreign currencies?
No. A 2.5% conversion fee applies on purchases made in a currency other than Canadian dollars, which wipes out and exceeds the 1% cash back. A business buying regularly in US dollars is better served by a business card with no foreign transaction fee.
Conditions apply. All information is believed accurate but not guaranteed. Card details, rewards, and offers are subject to change at any time. Always verify the latest terms on the issuer’s website before applying. Milesopedia may receive compensation through affiliate links. This does not affect our editorial choices or card rankings. © 2026 Scotiabank. All trademarks are property of their respective owners.