Credit Card Balance Transfer in Canada: How It Works in 2026

^† Terms and conditions apply. Click on Apply Now to learn more.

1 Offer description and terms and conditions: The 0% introductory rate offer on cash advances and the first-year annual fee waiver (the “Offer”) applies only to new Scotia minimum Visa credit card accounts (the “Accounts”) opened between July 2, 2026 and January 3, 2027 (regardless of when you apply for the Account), subject to the terms and conditions below. We will waive the annual fee for the primary card for the first year only. The Offer may be changed, cancelled or extended at any time without notice, and cannot be combined with any other offer.

Description and terms and conditions of the 0% introductory rate offer:
The 0% introductory rate offer (the “Rate Offer”) applies to eligible cash advances (including balance transfers and quasi-cash transactions, collectively referred to as “cash advances”), subject to the terms and conditions below. This introductory rate applies for 9 months from that date (the “Promotional Period”). A fee equal to 1% of the amount of any balance transfer made during the Promotional Period applies (minimum fee of $5.00). After the Promotional Period, the interest rate on balance transfers subject to the 0% promotional rate (including any unpaid balance of those cash advances at the end of the Promotional Period) will revert to the applicable preferred interest rate for cash advances (currently 13.99%).

The introductory rate offer is subject to your Account’s cash advance limit. This offer is also based on your approved credit limit as of the date of this offer. This means that if the total of the balances transferred exceeds the approved credit limit, balance transfers may not be processed. This introductory rate offer cannot be used to transfer the balance of another Scotiabank account, or to make a payment or deposit to another Scotiabank account.

Cancellation of the promotional rate: If we do not receive your minimum payment by the due date shown on your statement two times in a row, you will lose the benefits of this special rate offer and your interest rates will revert to the annual rates normally applicable to your Account (24.99% for purchases and 27.99% for cash advances).

Application of payments: Your payment cannot be applied to the balance of your choice. For persons residing in Quebec: Generally, if one or more interest rates apply to your account, we apply payments according to the interest rate(s) that apply to the transactions posted to your account (from the highest rate to the lowest). For persons not residing in Quebec: Generally, if you make a payment greater than the minimum amount shown on your statement, the difference is applied proportionally to the different groups of charges billed to your account. Charges are grouped according to the interest rate applicable to them. Consult your credit card agreement to learn more about how payments are applied to your account.

Description and terms and conditions of the first-year annual fee waiver offer: We will waive the annual fee for the first year only for the primary card, which must occur between July 2, 2026 and January 3, 2027.

Eligibility and exclusions: You cannot take advantage of the Offer if you are currently a primary or secondary cardholder of a Scotiabank personal credit card or if you have been one in the past two years, including if you transfer your balance from an existing Scotiabank personal credit card account (and subject to the exclusions mentioned, persons holding a Scotiabank business credit card are eligible for this offer). By accepting this Offer, you confirm that you meet all eligibility conditions. We reserve the right to revoke this Offer at any time if we believe you do not meet the eligibility conditions, including after its acceptance or obtaining the Account.

Rates and fees: Current annual fees are $29 for the primary card, and additional cards are free (including those issued to co-account holders and additional cardholders).
The preferred annual interest rates currently applicable to the Account are as follows: 13.99% on purchases 13.99% on cash advances. All rates, fees, features and benefits described in the application disclosure statement are subject to change.