To the point
Open a Scotiabank Ultimate Package account and receive a welcome bonus of up to $500, plus $150 off the annual fee for the Scotiabank Passposrt Visa Infinite.
Looking for a chequing account with a wide range of benefits? Discover Scotiabank’s Ultimate Package which, in addition to unlimited debit transactions and a welcome bonus of up to $500, allows you to obtain the Scotiabank Passport Visa Infinite Card free of charge year after year.
What is the Scotiabank Ultimate Package?
Scotiabank ‘s Ultimate Package is the most comprehensive banking package offered by this institution. With this chequing account, you benefit from:
- Unlimited debit transactions, Interac transfers and international money transfers;
- An interest rate plus an additional 0.10% if you also have a MomentumPLUS savings account;
- Unlimited free withdrawals from international ATMs;
- No user fees for overdraft protection;
- Ten free trades in a Scotia iTRADE account;
- Personalized cheques and bank drafts free of charge;
- A free small safety deposit box ($60 annuel fee waived).
Other benefits are also available: find out more on the Scotiabank website.
Scotiabank Ultimate Chequing Account
Special Offer
Up to $500 welcome bonus
Monthly Fee
$30.95
Monthly fee waived with a minimum daily closing balance of $6,000
Account Type
Chequing account
Plus, when you open a new Scotiabank Ultimate Package and a qualifying investment account, you can earn up to $500 in bonuses. Within 60 days of opening your account, you must complete two out of three of the following operations:
- Receive an eligible reccuring direct deposit (such as payroll or pension) for a minimum of six consecutive months;
- Set up at least two eligible pre-authorized debits (e.g. mortgage, rent, insurance premium) of at least $50 per transaction, for a minimum of six consecutive months;
- Make at least one eligible online bill payment (telephone, electricity, Internet, etc.) for a minimum amount of $50.
You’ll receive a $400 bonus directly into your account, within nine months of opening.
To receive an additional $100 bonus, you must open a new registered savings account(TFSA, RRSP, FHSA) within 60 days of opening your chequing account. Then you must:
- Contribute or transfer a minimum amount of $5,000 to the new registered account and maintain this minimum amount for at least three consecutive months.
Scotiabank Ultimate Plan - How to Get it for Free
The $30.95 monthly fee for the Scotiabank Ultimate Package account may be waived if either of these conditions is met:
- Chequing account balance exceeds $6,000;
- The combined balance of the chequing account and a MomentumPLUS savings account exceeds $30,000.
Minimum amounts must be reached daily and maintained throughout the month.
Why combine the Ultimate Package with the Scotiabank Passport® Visa Infinite* Card?
Milesopedia voted Scotiabank Passport Visa Infinite the best no-conversion-fee credit card of 2025, and Scotiabank Ultimate Package the best premium bank account.
The Scotiabank Passport Visa Infinite is an excellent card for frequent travellers and snowbirds, saving the 2.5% foreign currency transaction fee usually charged by other cards.
What’s more, this card comes with six VIP airport lounge passes worldwide. Other Visa Infinite benefits include privileges at a collection of hotels, concierge service and comprehensive travel insurance.
It’s a card to keep in your wallet, year after year. With a Scotiabank Ultimate Package account, you’ll receive a rebate on the $150 annual fee for this credit card. This means you can keep it for the long term, free of charge!
Some may wonder whether it’s worth leaving $6,000 in a chequing account, when it could be growing at around 4% annually in a high-interest savings accounts (HISA). In this case, such an investment would yield around $245 a year (interest compounded monthly), minus the tax for income earned on the interest.
With the $500 bonus and the $150 rebate on the Scotiabank Passport Visa Infinite annual fee, the Ultimate Package is definitely more profitable in the first year than investing in a HISA. Then it’s up to you to work out what’s best for you, especially if you’re taking advantage of the many benefits of a chequing account.
A Great Welcome Bonus
With this welcome offer for the Scotiabank Passport Visa Infinite Card, you’ll receive up to 40,000 Scene+ points in welcome bonus (a $400 value):
- 30,000 points after $2,000 in purchases in the first three months
- 10,000 points after $40,000 in purchases in the first year
Then, each year, if you make at least $40,000 in purchases on the card, you’ll earn an annual bonus of at least 10,000 points, a value of $100.
With the Scotiabank Passport Visa Infinite Card, you earn 3 points per dollar spent at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, and Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry and Co-Op.
You’ll also earn 2 points for every dollar you spend, including on foreign purchases, in the following categories:
- Grocery shopping
- Restaurants
- Entertainment centers
- Transit
The Scotiabank Visa Infinite Passport is an excellent Visa credit card for this type of purchase.
These points can be used against any travel purchase at the rate of1,000 points = $10 (flights, hotels, all-inclusives and even Airbnb). You can also redeem your points for cash back at Scene+, for example, at your local grocery store checkout at the same rate of 1,000 points = $10.
The Scotiabank Visa Infinite Passport also offers :
- No fees for foreign currency transactions
- 6 access to VIP airport lounges
- Excellent insurance for your travels and purchases
- Concierge service
We voted this credit card the Best No FX Fee Credit Card of 2024 and 2025.
Featured
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No Foreign Transaction Fee
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Access to VIP Lounges
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Visa Infinite Benefits
Bottom Line
The Scotiabank Ultimate Package is a premium bank account with a host of benefits, including unlimited debit transactions and a welcome bonus of up to $500. Combined with the Scotiabank Passport Visa Infinite Card, this package becomes even more advantageous.
Cardholders can enjoy a full range of banking services while saving on the annual fee of one of the best credit cards for travel. A truly winning duo!
