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To qualify for this offer, you must set up a payroll deposit or 2 pre-authorized debits (PADs) or 2 pre-authorized credits (PACs) or 1 PAD and 1 PAC within 60 days of account opening. Each transaction must occur at least once per month.

What is a Pre-authorized Debit?

A pre-authorized debit is an automatic payment that comes out of your account. Examples of this would be your cable, internet or phone bill, property taxes or gym memberships.

What is a Pre-authorized Credit?

A pre-authorized credit is an automatic payment that comes into your account, other than your payroll deposit. Examples of this would include government payments from government agencies such as Employment Insurance or WSIB.

How do I set up a payroll, PAD or PAC?

Once you have opened your account, sign onto ScotiaOnline. Direct Deposit and Automatic Payment forms will be automatically populated for you to print off for your employer or billing company. A void cheque is also available to help set up your PAC.

Tip: set up your iTunes or Netflix accounts to pay directly from your bank accounts – these qualify as PADs.