Changes to select bank accounts and safety deposit boxes

Effective October 1, 20231, we’re making changes to Scotiabank accounts and banking services, including updated fees

Changes to Bank Accounts

If you have one of the accounts listed below, these changes will impact you.

Ultimate Package

 

Current

Change effective
October 1, 2023

Ways to save

Monthy Minimum Balance Requirement 

$5,000 minimum daily closing balance to waive the $30.95  monthly account fee $6,000 minimum daily closing balance to waive the $30.95 monthly account fee  Waive the monthly account fee by maintaining the $6,000 minimum daily closing balance or a combined balance of $30,000 across your Ultimate Package and a MomentumPLUS Savings Account for the entire month. 
Scotia Seniors Program  $4 Seniors rebate on the monthly account fee ($0 or $26.95 after rebate $7 Seniors rebate on the monthly account fee ($0 or $23.95 after rebate)
NEW! Ultimate Package Rates on select foreign exchange transactions.2
View the Ultimate Package

Powerchequing Account (Stop sold account)

  Current Change effective
October 1, 2023
Ways to save
Monthly account fee $0 or $6.95 monthly account fee $0 or $7.95 monthly account fee Pay no monthly account fee by maintaining a minimum daily closing balance of $3,000 for the entire month.

Safety Deposit Box

Current annual fee

Change effective
October 1, 2023

Ways to save

Small (Type A)

$60

No change

Ultimate Package and Private Banking Package customers receive a $60 discount on annual Safety Deposit Box fees on boxes of any size.3

Not using all the space in your Safety Deposit Box? Consider switching to a different size to save on fees. 

Medium (Type B)

$90

$100

Large (Type C)

$150

No change

Extra Large (Type D)  $250 $300
Super Large (Type E)  $350 $400
See all Safety Deposit Boxes

Account services

Simple, innovative services that add value to your everyday banking

Frequently Asked Questions


Tools and resources for your every day banking

Compare package and accounts

Compare accounts and banking packages to see which is best suited for you.

The best way to save on your bank fees is to make sure your account is right for you. Each of our chequing accounts and savings accounts have been carefully designed to meet a wide range of needs.

Learn more about our accounts; use the account comparison tool

Help me choose tool

If you’re not sure which account is right for you, then you can use our Help me choose tool to help you decide.

Discover which account is the right fit for you with the Account Selector Tool

Change your account

Looking to switch your account, it's as easy as 1,2,3.

Learn how to change your account online or through your mobile

Scotia Smart Money by Advice+

Get personalized insights, track your spending, create budgets, and more.

Learn about Scotia Smart Money by Advice+

Scotia InfoAlerts

By selecting both the Balance alerts and Safeguard alerts categories under Scotia InfoAlerts, you’ll be notified of important account activity by email and/or app notifications.

Learn how to sign up for Scotia InfoAlerts

For everyday personal banking needs

Online banking

Visit Scotia OnLine

Mobile banking

Access the Scotia mobile banking app, available on the App Store or Google Play

By phone

Chat with us at 1-888-999-7185

In person

Meet with an Advisor at your local branch

 

Find a branch near you