Up to a $300 bonus with Scotiabank Banking Packages!

To the point Earn up to a $300 bonus with select Scotiabank banking packages for a limited time!

Scotiabank chequing account packages

Scotiabank has five checking account packages:

Package	Welcome bonus
Scotiabank Ultimate Package	$300
Scotiabank Preferred Package	$300
Scotiabank Base Bank Plus Bank Account	–
Scotiabank Students’ Bank Privilege Plan	$60
Scotiabank Basic Bank Account	–

Scotiabank offers 5 savings accounts:

Savings account	Promotional rate
MomentumPLUS Savings Account	Up to 2.75% interest
Savings Accelerator Account	–
Money Master Savings Account	–
Scotia U.S. Dollar Daily Interest Account	–
Scotia Euro Daily Interest Savings Account	–

Below, you will find the characteristics of all these packages and savings accounts.

The package that interests us the most as travellers – and recommended by several members of the Facebook group – is the Scotiabank Ultimate Package. It also offers a $300 welcome bonus for a limited time!

With this package, you avoid paying specific fees such as the annual credit card fee or withdrawal fees abroad.

Scotiabank Ultimate Package Review

The Scotiabank Ultimate Package is a single package:

Usage
Save
Invest

Account features

With our traveller’s eyes, the Scotiabank Ultimate Package includes many exciting benefits, including:

Up to $139 ongoing annual fee waiver on select credit cards. Such as the Scotiabank Passport™ Visa Infinite* or the Scotia Momentum^® VISA Infinite* card.
Unlimited free Global non-Scotiabank ABM withdrawals

Special offer

Right now, when you open a new Scotiabank Ultimate Package, you can earn a $300 bonus!

To get this, you just have to:

Open a new Scotiabank Ultimate Package through this promotional link
Complete any two of the following three actions within 60 days of opening your Ultimate Package:
- Set up an eligible recurring direct deposit, which will recur monthly for a minimum of 3 consecutive months.
- Set up at least 2 eligible separate recurring pre-authorized transactions that are $50 or more, which will each recur monthly for a minimum of 3 consecutive months.
- Make an eligible $50 bill payment through online or mobile banking.

For example, to get this promotion, all you need to do is set up two pre-authorized transactions (such as Hydro-Québec and Bell) and make a bill payment of at least $50 (like your mobile provider).

A free credit card from year to year

By holding a Scotiabank Ultimate Package, you can keep your credit card year after year without paying an annual fee!

For example, the great Scotiabank Passport™ Visa Infinite* has the following perks:

No conversion fees for foreign currency transactions
6 free airport lounge visits
Participate in the Scene+ loyalty program to apply points to travel purchases such as Airbnb rentals, car rentals and flights.

Here is the current offer:

Or the Scotia Momentum^® VISA Infinite* card, which is one of the best cash back credit cards in Canada:

4% for groceries and recurring payments
2% on gas and public transportation
1% on all other purchases
Visa Infinite Concierge
Premium insurance

Here is the current offer:

Or the Scotiabank Gold American Express^® Card, which earns many travel points:

5X the points on grocery stores, restaurants, fast food, and drinking establishments. Includes popular food delivery and food subscriptions.
5X the points on eligible entertainment purchases. Includes movies, theatre, and ticket agencies.
3X the points on gas and daily transit. Includes rideshare, buses, taxis, subway, and more.
3X the points on streaming services (Netflix, Spotify, Cineplexstore)
1X the points on every other purchase
Premium insurance
Access to American Express offers

Here is the current promotional offer:

Detailed features

Here is the Scotiabank Ultimate Package’s features:

Usage:

Unlimited debit transactions
Unlimited no-fee Scotia International Money Transfers
Unlimited Interac e-Transfer transactions
No monthly Overdraft Protection fee
Free personalized cheques and drafts
Earn Scene+ points
No monthly account fee on a Scotia U.S. Dollar Daily Interest Account
$55 annual fee waiver (equivalent to a small safety deposit box)

Grow your money:

Earn 2.75% interest on your MomentumPLUS Savings Account
Ultimate rates on select GICs
10 free equity trades at Scotia iTRADE in your first year (approximately $100 value) and 5 free equity trades every year after

Rewards

Scotiabank is one of the only institutions to offer rewards on activities made with a DEBIT card linked to the Ultimate Package checking account.

For example, you can earn 1 Scene+ point for every $5 in purchases made with a Scotia Debit card

Fee

The Scotiabank Ultimate Package has a $30.95 monthly fee.

However, it could be FREE ($0 per month), by fulfilling one of these two conditions. By maintaining either:

a minimum daily closing balance of $5,000 in your Ultimate Package
a combined balance of $30,000 across your Ultimate Package and your MomentumPLUS Savings Account

If you have $5,000 not invested, it would be worth leaving them in your Ultimate Package chequing account so you pay:

no monthly bank fees
no annual credit card fees

The Scotiabank other banking packages

If the Scotiabank Ultimate Package is the best value for us, here are the other 4 packages offered by Scotiabank:

Scotiabank Preferred Package

The Scotiabank Preferred Package has the following main features:

Unlimited Interac Debit and Transfer transactions
First-year annual fee waiver (up to $139) on select credit cards
For a limited time, earn up to 2.65% on your MomentumPLUS Savings Account

Unlike the Ultimate Package, which allows you to avoid the annual fees of certain credit cards from year to year, the Preferred Package only waives the first-year annual fee on select Scotia credit cards such as:

Special offer

Right now, when you open a new Scotiabank Essential Package, you can get a $300 bonus!

To get this, you just have to:

To open a new Scotiabank Preferred Package through this promotional link
Complete any two of the following three actions within 60 days of opening your Ultimate Package:
- Set up an eligible recurring direct deposit, which will recur monthly for a minimum of 3 consecutive months.
- Set up at least 2 eligible separate recurring pre-authorized transactions that are $50 or more, which will each recur monthly for a minimum of 3 consecutive months.
- Make an eligible $50 bill payment through online or mobile banking.

For example, to get this promotion, all you need to do is set up two pre-authorized transactions (such as Hydro-Québec and Bell) and make a bill payment of at least $50 (like your mobile provider).

Account features

Here are the other features of the Scotiabank Preferred Package.

Use

Unlimited debit transactions
Send money globally for $1.99 with Scotia International Money Transfer
Unlimited Interac e-Transfer transactions

Grow your money

Earn 2.70% interest on your MomentumPLUS Savings Account
Preferred rates on some GICs

No boundaries

First-year annual fee waiver (up to $139) on select credit cards
Fee waived on one non-Scotiabank ABM withdrawal per month in Canada

Rewards

it is possible to get either:

1 Scotia Rewards point for every $5 purchase (with a Scotia Passport debit card)
1 SCENE point for every $5 purchase (with a Scotia SCENE debit card)

Fee

Scotiabank Preferred Package has a $15.95 monthly fee.

However, it could be FREE ($0 per month), by maintaining a minimum daily closing balance of $4,000 for the entire month in your checking account.

Scotiabank Student Banking Advantage Plan

Account features

The Scotiabank Student Banking Advantage Plan has the following key features:

Unlimited debit transactions
Unlimited Interac e-Transfer transactions
Earn Scene+ rewards on your debit transactions
Free paperless or paper statements

Fee

Scotiabank Student Banking Advantage Plan has no monthly fees!

Special offer

Right now, when you open a Scotiabank Student Banking Advantage Plan, you can get a $60 bonus!

To get this, you just have to:

To open a new Scotiabank Student Banking Advantage Plan through this promotional link
To complete one of the following two transactions within 60 days of opening the eligible account:
- Set up your payroll so that it is deposited into your Eligible Account
- Set up a minimum of 2 separate recurring pre-authorized transactions (“PATs”) for a minimum of $25 per transaction for twelve (12) consecutive months.

Scotiabank Basic Plus Bank Account

Account features

Scotiabank Basic Plus Bank Account has the following key features:

25 free debit transactions per month
10 free Interac e-Transfer transactions per month
Send money globally for $1.99 with Scotia International Money Transfer
Earn Scene+ rewards on your debit transactions

Fee

Scotiabank Basic Plus Bank Account has a $10.95 monthly fee.

However, it could be FREE ($0 per month), by maintaining a minimum daily closing balance of $3,000 for the entire month in your Basic Plus Bank Account.