Chequing Accounts that are eligible for a promotional offer are marked throughout the comparison chart with a promotional offer icon such as or . Click this box to show only Chequing Accounts that contain free promotional offers. For gift card FAQs and Terms & Conditions click here.
Location Please ensure your location is correct in order to find the best rates available in your area.
Monthly transactions by type
Monthly transactions by type
Bank account Purchase interest rate Transactions Additional fees Estimated monthly cost
0% Unlimited
$0
Transaction
$0
Interac e-Transfers
$31 Open account
0.00% 12
$1
Transaction
$1
Interac e-Transfers
$4 Open account
0.00% Unlimited
$0
Transaction
$0
Interac e-Transfers
$16 Open account
0.00% 25
$1
Transaction
$1
Interac e-Transfers
$11 Open account
% Interest rate tiers
If balance is Rate
tiered interest rate
Transaction
Interac e-transfers
Open account Open account

Scotiabank Overview

Scotiabank is one of Canada’s “Big Five” banks. As of 2019, Scotiabank has 25-million customers worldwide, 100,000 employees, and over $1-trilion in assets. At home, Scotiabank serves over 10-million customers through its 963 branches and 3,600 automated banking machines (ABMs). In 2012, Scotiabank acquired ING Direct’s Canadian business, which it now operates under the Tangerine brand.

Scotiabank offers several different chequing account packages to suit different customers’ needs. Banking packages range from $0 to $30.95 per month, and Scotiabank offers options specifically for youth, students, seniors, and new Canadians. %hr

Scotiabank Chequing Accounts

Scotiabank offers a standard set of competitive features with all of its chequing accounts, like included debit transactions and Interac® e-Transfers. Scotiabank also offers rewards on all of its chequing account packages, allowing clients to earn either SCENE Rewards (which can be exchanged for perks like free movies and meals), or Scotia Rewards (which are best used for travel but can also be exchanged for merchandise and gift cards).

Other features that come with all Scotiabank chequing accounts include mobile banking, online banking, mobile cheque deposit, text message account activity alerts, and tap payment options including Apple Pay, Google pay and VISA debit. Scotiabank also provides all its chequing customers with a free credit score.

Optional add-ons for Scotiabank chequing accounts include overdraft protection (subject to credit approval and a monthly fee on some accounts), and Scotiabank’s Bank The Rest Savings Program, which allows customers to round up debit purchases to the nearest $1 or $5 and contribute the extra amount to a Scotiabank savings account.

Scotiabank Basic Plus Bank Account

The Scotiabank Basic Plus Bank Account is a basic banking package for those who have limited needs. The account includes 25 transactions and 10 Interac® e-Transfers for $10.95 per month. Additional debit transactions are $1.25 each and additional Interac® e-Transfers are $1.00 each. The monthly fee is waived for customers who maintain a minimum balance of $3,000 every day throughout the month.

Scotiabank Ultimate Package

If you use your debit card everywhere you go, have other Scotiabank products, or want unlimited access to cash anywhere in the world, the Scotiabank Ultimate Package is a good choice. For $30.95 per month, this package includes unlimited transactions, unlimited Interac® e-Transfers, and unlimited withdrawals at non-Scotiabank ABMs throughout the world for no additional fee except what’s charged by the ABM operator.

The Scotiabank Ultimate Package also includes benefits and discounts on other Scotiabank products. Clients can get a promotional rate on Scotiabank’s Momentum Plus Savings Account, get free trades at Scotia iTRADE, waive the annual fee on select Scotiabank credit cards, and get a small safety deposit box for free.

Scotiabank clients who select the Ultimate Package will pay no monthly fee as long as they maintain a minimum chequing balance of $5,000 throughout each month, or a combined chequing and saving balance of at least $30,000.

Scotiabank Preferred Package Bank Account

The most popular Scotiabank chequing account option is the Scotiabank Preferred Package Bank Account. For $15.95 per month, clients enjoy unlimited transactions, unlimited Interac® e-Transfers, and some benefits on other Scotiabank products, including a promotional savings rate on the Momentum Plus Savings Account and a first-year annual fee waiver on select credit cards.

The key difference between this account and the Scotiabank Ultimate Package is the perks. If you don’t need a safety deposit box, access to non-Scotiabank ABMs, and iTRADE credits, you can save almost 50% by choosing the Scotiabank Preferred Package Bank Account.

Scotiabank Preferred Package Bank Account customers can waive their monthly fee for keeping a minimum chequing balance of $4,000 throughout the entire month. Seniors aged 60+ can save $4 per month on the Preferred Package Bank Account, and new Canadians can access this package for no monthly fee for one year.

Scotiabank Basic Bank Account

For customers with very basic chequing needs, Scotiabank offers the aptly named Basic Bank Account. This account offers 12 transactions (only 4 of which may be teller-assisted) and 2 Interac® e-Transfers for $3.95 per month. Additional transactions are $1.25 each and additional Interac® e-Transfers are $1.00 each. Despite the low price and limitations of this account, it still offers the same basic features as all Scotiabank chequing accounts including mobile and online banking, mobile cheque deposit, Visa Debit, Apple Pay and Google Pay.

Seniors aged 60 and over can access the Basic Bank Account for no monthly fee or a $4 monthly discount on other Scotiabank chequing accounts.

Scotiabank Getting There Youth Program

For children and young adults aged 18 and under, Scotiabank offers the Scotiabank Getting There Youth Program. This no-fee chequing account offers unlimited transactions and 2 free Interac® e-Transfers per month.

Young adults over 13 must show ID to open an account. Children under 16 must be accompanied by a parent or legal guardian to open an account, but those 16 and over can open an account on their own as long as they can show ID.

When clients turn 19, you they convert your Scotiabank Getting There Youth Program Account to another Scotiabank chequing account such as the Student Banking Advantage Plan.

Scotiabank Student Banking Advantage Plan

Students who are enrolled in a Canadian or US post-secondary institution can get the Scotiabank Student Banking Advantage Plan for no monthly fee. This chequing account includes unlimited transactions and unlimited Interac® e-Transfers and offers many of the same features as Scotiabank’s premium chequing accounts including online banking, mobile cheque deposit, VISA debit, Apple Pay and Google Pay. Students will also appreciate the chance to earn SCENE Rewards, which can be cashed in for free movies, meals and more.

Once clients are no longer enrolled in post-secondary education, the Scotiabank Student Banking Advantage Plan must be converted to another Scotiabank chequing package.

Compare the Best Chequing Accounts in Canada

Use our chequing accounts comparison tool to find the best chequing accounts from providers across Canada.

Compare Other Canadian Chequing Account Providers