Here’s how you can earn up to $600
STEP 1
Open a new Ultimate or Preferred Package account
Complete this step between August 1 and October 31, 2024.
Preferred Package benefits
- Send money globally for $1.99 with Scotia International Money Transfers5
- Eligible for overdraft protection6
- Earn an additional 0.05% interest on your MomentumPLUS Savings Account7
- Receive preferred rates on select Guaranteed Investment Certifications (GICs)8
- Waive the monthly account fee on a Scotia® U.S. Dollar Daily Interest Account9
- Waive the fee on one non-Scotiabank ABM withdrawal per month in Canada10
- Take advantage of the Scene+TM program
CHEQUING
Preferred Package
$0* or $16.95 /monthly fee
*Monthly fee waived with $4,000 monthly balance.
Our most popular bank account for your everyday banking needs.
Unlimited
debit and Interac e-Transfer† transactions2
First year annual fee waived
on select credit cards (up to $150)3
Trade 1, get 1 free
with Scotia iTRADE®4
![](https://www.scotiabank.com/content/dam/scotiabank/canada/images/icons/success.png/_jcr_content/renditions/cq5dam.web.1280.1280.png)
- Can benefit from unlimited transactions included in this account
- Use for everyday banking such as purchases, ABM transactions and payroll deposits
![](https://www.scotiabank.com/content/dam/scotiabank/canada/images/icons/caution.png/_jcr_content/renditions/cq5dam.web.1280.1280.png)
- Are interested in only opening a savings account that earns interest
Ultimate Package benefits
- No overdraft protection fee6
- Waive the monthly account fee on a Basic Plus Bank Account (save up to $143 per year)14
- Earn an additional 0.10% interest on your MomentumPLUS Savings Account7
- Waive the monthly account fee on a Scotia® U.S. Dollar Daily Interest Account15
- Receive Ultimate Package rates on select guaranteed investment certificates (GICs)16
- Take advantage of the Scene+TM program
- Make unlimited global non-Scotiabank ABM withdrawals17
- Get special rates on foreign exchange transactions18
- Get free personalized cheques19 and drafts20
- ·Get a free small safety deposit box ($60 annual fee waived)21
![Money Sense seal](/content/experience-fragments/scotiabank/ca/en/d2d/dplp/dplp_redesign/ultimate-package/master/_jcr_content/root/modal_copy_1608818054/modal-par/row_copy_copy/row-par-2/image_238479118.img.png/1715691015183.png)
Best Premium Bank Account for Bundling awarded by MoneySense on January 1, 2024
CHEQUING
Ultimate Package
$0* or $30.95 /monthly fee
*No monthly account fee by maintaining a minimum daily closing balance of $6,000 in your Ultimate Package, or a combined balance of $30,000 across your Ultimate Package and your MomentumPLUS Savings Account1
This award-winning package bank account offers premium perks.
Unlimited
debit and Interac e-Transfer† transactions2
Ongoing annual fee waived
on select credit cards (up to $150)12
10 free equity trades
with Scotia iTRADE® in your first year13
![](https://www.scotiabank.com/content/dam/scotiabank/canada/images/icons/success.png/_jcr_content/renditions/cq5dam.web.1280.1280.png)
- Can benefit from unlimited transactions per month included in this account
- Use for everyday banking such as purchases, ABM transactions and payroll deposits
![](https://www.scotiabank.com/content/dam/scotiabank/canada/images/icons/caution.png/_jcr_content/renditions/cq5dam.web.1280.1280.png)
- Are interested in only opening a savings account that earns interest
STEP 2
Complete two of the following transactions to earn $3501
Within 60 days, complete two of the following:
![money](/content/scotiabank/ca/en/personal/bank-accounts/chequing-accounts/package-features/_jcr_content/main-par/section_container_12_1400137125/section-container-par/row_copy/row-par-2/row_714265041_copy_c/row-par-1/image_copy.img.png/1715628423526.png)
Set up and clear one eligible automated recurring direct deposit that recurs for 6 months in a row
![money](/content/scotiabank/ca/en/personal/bank-accounts/chequing-accounts/package-features/_jcr_content/main-par/section_container_12_1400137125/section-container-par/row_copy/row-par-2/row_714265041_copy_c_1798495740/row-par-1/image.img.png/1715633383635.png)
Set up and clear two eligible separate recurring pre-authorized transactions of at least $50 that recur for 6 months in a row
![files](/content/scotiabank/ca/en/personal/bank-accounts/chequing-accounts/package-features/_jcr_content/main-par/section_container_12_1400137125/section-container-par/row_copy/row-par-2/row_714265041_copy/row-par-1/image.img.png/1715091520033.png)
Make one eligible bill payment of at least $50 with online or mobile banking
STEP 3
Open an eligible registered plan1
Between August 1, 2024 and October 31, 2024 and within 60 days of opening your new chequing account.
Tax-Free Savings Account (TFSA)
Are you a Scotiabank customer with access to online banking?
Yes
No
Tax-Free Savings Account (TFSA)
Grow your savings,
tax-free
Withdraw your money
whenever you need to
Save for multiple goals
in one account
![](https://www.scotiabank.com/content/dam/scotiabank/canada/images/icons/success.png/_jcr_content/renditions/cq5dam.web.1280.1280.png)
- Have reached the age of majority in the province where the account is set up
- Need an all-purpose solution that offers the flexibility to save for many goals in one account
- Expect to have annual contribution room that is not based on your earned income
- Want your savings to grow over time tax-free with ability to withdraw your money whenever you need it
![](https://www.scotiabank.com/content/dam/scotiabank/canada/images/icons/caution.png/_jcr_content/renditions/cq5dam.web.1280.1280.png)
- Do not have available TFSA contribution room
- Want to be able to make contributions that can be tax deductible – if so, consider a Registered Retirement Savings Plan
Registered Retirement Savings Plans (RRSP)
Are you a Scotiabank customer with access to online banking?
Yes
No
Registered Retirement Savings Plans (RRSP)
Contribute to your retirement savings
on tax deferred basis
Reduce your taxable income
while your investments grow tax-free
Leverage your funds
to programs for your first home or education
![](https://www.scotiabank.com/content/dam/scotiabank/canada/images/icons/success.png/_jcr_content/renditions/cq5dam.web.1280.1280.png)
- Plan on making a contribution to your RRSP to reduce your taxable income while your investments grow on a tax-deferred basis
- Understand the maximum you can contribute each year as set by the Canadian Government, which depends on your income
- Have funds in an RRSP that are eligible for programs that can help you buy your first home or pay for education for you, your spouse, or your common-law partner
![](https://www.scotiabank.com/content/dam/scotiabank/canada/images/icons/caution.png/_jcr_content/renditions/cq5dam.web.1280.1280.png)
- Do not have available contribution room
- Are turning 71 this year - since you can only hold and contribute to an RSP until the year in which you turn 71
First Home Savings Account (FHSA)
Start saving towards your first home in Canada, tax-free.
Contact us
First Home Savings Account (FHSA)
Save up to $40,000
towards your first home22
Grow your savings,
tax-free22
Reduce your taxable income
while your investments grow22
![](https://www.scotiabank.com/content/dam/scotiabank/canada/images/icons/success.png/_jcr_content/renditions/cq5dam.web.1280.1280.png)
- Are a Canadian Resident
- Have reached the age of majority in the province where the account is set-up
- Are a First Time Home Buyer
- Want your savings to grow over time with the ability to withdraw all of the funds tax-free to buy your first home
![](https://www.scotiabank.com/content/dam/scotiabank/canada/images/icons/caution.png/_jcr_content/renditions/cq5dam.web.1280.1280.png)
- Are not a first-time home buyer*
- Are not a Canadian Resident
- Are turning 72 this year -since you can only hold and contribute to a FHSA until the year in which you turn 71
STEP 4
Complete the following activities to earn up to $2501
Within 60 days in your eligible registered account:
![money](/content/scotiabank/ca/en/personal/bank-accounts/chequing-accounts/package-features/_jcr_content/main-par/section_container_12_1308482555/section-container-par/row_copy/row-par-2/row_714265041_copy_c/row-par-1/image_copy.img.png/1715096800849.png)
To earn $50
- Set up and clear a recurring pre-authorized contribution(s) of at least $100 total per month from any Scotia personal bank account, recurring for 6 months; and/or
![money](/content/scotiabank/ca/en/personal/bank-accounts/chequing-accounts/package-features/_jcr_content/main-par/section_container_12_1308482555/section-container-par/row_copy/row-par-2/row_714265041_copy_c_1798495740/row-par-1/image_copy_copy.img.png/1715628617448.png)
To earn $200
- Make a minimum deposit of $5,000 and maintain for 6 months in a row
Frequently asked questions
Tools and calculators
For every future
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Banking for students
Accounts that help you save while you learn.
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New to Canada
Bank with no monthly account fees in the first year23 with the StartRightTM Program.
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Banking for seniors
If you’re 60 or over, you’ll automatically receive a $7 discount on your Ultimate Package monthly fee.
Make the most of your account
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Set up your new account
Learn how to make the most of your account.
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Get rewarded with Scene+
Scotiabank offers the only credit and debit cards that allow you to earn Scene+ points on every purchase24.
Looking for a credit card?
Whether you want a card with a low interest rate, no annual fee, or cash back benefits, we’ll help you choose the one that’s right for you.
The Scotiabank $600 Cash Bonus Bundle Offer (the “Offer”) is available between August 1, 2024 and October 31, 2024 (the “Offer Period”) to individuals who open new eligible accounts. Subject to the conditions below, eligible customers can earn $350 when they open a new Preferred Package or Ultimate Package chequing account and complete certain qualifying transactions and an additional $250 boost when they open a new eligible Registered Retirement Savings Plan, Tax-Free Savings Account or First Home Savings Account (each an “Eligible Registered Account”) with either The Bank of Nova Scotia or Scotia Securities Inc. (together, “Scotiabank”) and complete certain qualifying transactions.
For the purposes of this Offer, the following Scotia Registered Accounts are eligible for the Offer: Scotia Registered Retirement Savings Plans (RRSPs, excluding locked-in plans such as LIRAs and LRSPs) (each an “RRSP”), Scotia Tax-Free Savings Accounts (each a “TFSA”) and Scotia First Home Savings Accounts (each a “FHSA”). Scotia RRIFs (including locked-in income plans), RESPs, RDSPs, and non-registered Scotia Investment Accounts are not eligible for the Offer.
$350 Cash Bonus for Preferred or Ultimate Package Conditions: To qualify for the $350 cash bonus (the “Package Bonus”), you must:
1. Open a new Ultimate Package or new Preferred Package chequing account (the “Eligible Chequing Account”) during the Offer Period; and
2. Complete any two (2) of the following activities in your Eligible Chequing Account within 60 days of Eligible Chequing Account opening:
- Set up and clear at least one eligible automated and recurring direct deposit†, such as payroll or pension, which will recur monthly for a minimum of six (6) consecutive months, or
- Set up and clear a minimum of two (2) separate eligible recurring pre-authorized transactions† with a minimum value of at least $50 per transaction which will each recur monthly for a minimum of six (6) consecutive months, or
- Make at least one (1) eligible online bill payment† of at least $50 through the Scotiabank Mobile App or through Scotia OnLine.
† Click here for a list of eligible direct deposits, pre-authorized transactions and online bill payments. Notwithstanding a transaction may be included in these lists, certain exclusions may still apply and Scotiabank reserves the right to modify these lists and to determine whether a specific direct deposit, pre-authorized transaction or bill payment is eligible for the Package Bonus. Fund transfers initiated to other Scotiabank accounts (one time or recurring, e.g. credit card or savings account), to chequing or savings accounts held at other financial institutions, or to payment processing firms, are not eligible for the Package Bonus.
Up to $250 Registered Account Bundle Conditions: To qualify for up to $250 cash bonus (the “Bundle Bonus”), you must:
1. Meet the conditions for the $350 Package Bonus;
2. During the Offer Period and within 60 days of opening your Eligible Chequing Account, open a new Eligible Registered Account; and
3. Within 60 days of the Eligible Registered Account opening, complete the following activities to earn the applicable Bundle Bonus:
- To earn $50: set up and clear recurring pre-authorized contributions (PACs) from any Scotiabank personal bank account of at least $100 total monthly into your new Eligible Registered Account, which must recur for a minimum of six (6) consecutive months; and/or
- To earn $200: contribute or transfer in a minimum of CAD $5,000 into your new Eligible Registered Account and maintain that minimum amount each day for at least six (6) consecutive months.
Eligibility and Exclusions: Individuals who are currently holders of, or who were previously holders within the last two (2) years of, a Scotiabank Chequing Account are not eligible for the Package Bonus. “Scotiabank Chequing Account” means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. Employees of Scotiabank are also not eligible for these Offers. In order to qualify for the Bundle Bonus the individual cannot have held the same type of Eligible Registered Account (as that opened during the Offer Period) with Scotiabank in the six (6) months preceding the Offer Period.
General Terms: Provided all Package Bonus conditions outlined above have been met, the $350 Package Bonus will be deposited to the Eligible Chequing Account within approximately nine (9) months from Account open date. Provided all the Bundle Bonus conditions outlined above have been met, the additional Bundle Bonus (up to $250) will be deposited to your Eligible Chequing Account within approximately thirteen (13) months from the Eligible Registered Account open date. You have 24 months from the date you believe you have fulfilled the applicable Offer conditions to notify us if you have not received the applicable cash bonus so that we may confirm your eligibility.
For either cash bonus to be fulfilled, the Eligible Chequing Account and the Eligible Registered Account, as applicable, must be open and in good standing until the time of payout of the cash bonus. The Eligible Chequing Account is not in "good standing" if any of the following conditions are not met: (i) it has a negative balance exceeding the authorized overdraft limit, (ii) it has been in continuous overdraft for a period of three (3) consecutive months, or (iii) the Account holder is in breach of the Account agreement with Scotiabank. For purposes of this Offer, an Eligible Registered Account is not in 'good standing' if the account holder is in breach of the Eligible Registered Account agreement. Customers are responsible to confirm their contribution limits noted on their most current Notice of Assessment issued by the Canada Revenue Agency prior to making any contribution to their Eligible Registered Account(s). Scotiabank is not responsible for any contribution over a customer’s limit in connection with this Offer. For a spousal RRSP, the Bundle Bonus will be paid into the Eligible Chequing Account opened by the contributor.
This Offer is non-transferable and may not be duplicated. Limit of one (1) Package Bonus and one (1) Bundle Bonus per customer, regardless of the number of Eligible Chequing Accounts or Eligible Registered Accounts opened. If multiple Eligible Chequing Accounts or Eligible Registered Accounts are opened, only the first Eligible Chequing Account or first Eligible Registered Account opened, as applicable, will qualify for the respective Package Bonus or Bundle Bonus. For joint accounts, only the primary account holder is eligible for this Offer and only one (1) $350 Package Bonus and one (1) Bundle Bonus (up to $250), as applicable, will be applied to the primary account holder’s Eligible Chequing Account. All rates, fees, features and benefits are subject to change. This Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
As of January 1, 2023, new and existing Preferred Package bank account holders who open a new Scotia iTRADE account for the first time qualify for the following benefit:
- Trade one get one free using the Scotia iTRADE Mobile App: Receive a rebate for the commissions incurred for every second eligible commissionable trade placed through the Scotia iTRADE Mobile App (up to a maximum of 20 in the first calendar year, and 10 in the second calendar year and thereafter while the Scotia iTRADE customer is a Preferred Package bank account holder). The rebate relating to options will be applied to base commissions only.
As of January 1, 2023, new and existing Preferred Package bank account holders who have an existing Scotia iTRADE account qualify for the following benefit:
- Trade one get one free using the Scotia iTRADE Mobile App: Receive a rebate for the commissions incurred for every second eligible commissionable trade placed through the Scotia iTRADE Mobile App (up to a maximum of 10 in the first calendar year and thereafter while the Scotia iTRADE customer is a Preferred Package bank account holder). The rebate relating to options will be applied to base commissions only.
Trade one get one free rebates: The rebate will be applied to the account holder’s non-registered Scotia iTRADE account, or in its absence, their registered Scotia iTRADE account, in CAD currency (converted from USD to CAD for trades executed in USD, using the applicable foreign exchange rate) within the first 10 business days of the month following the month that the trades were executed.
Eligibility & Exclusions:
- Eligible commissionable trades include stocks, ETFs, options placed across all Preferred Package account holder(s)’ Scotia iTRADE accounts within the calendar year since the later of January 1, 2023 and the time when a client opens a Scotia iTRADE account.
- Corporate and non-personal Scotia iTRADE accounts are not eligible.
- Joint Preferred Package account holders are collectively entitled to the rebates for the total of the first 10 or 20 (as applicable) eligible trades fulfilled within their Scotia iTRADE accounts as between joint Preferred Package account holders regardless of whether or not such Scotia ITRADE accounts are sole or joint with other people.
- Both the Preferred Package bank account and Scotia iTRADE accounts must be in good standing on the last day of every month.
- The Scotia iTRADE account must not be in a disallowed debit position and must not have any outstanding margin calls due.
- No cash redemption value.
- This offer can be combined with other Scotia iTRADE programs (excluding Student Banking Advantage Plan offer) and campaigns unless otherwise specified. Should free trade rebates be awarded for the other programs and campaigns, those free trades will be applied first until fully consumed before applying Preferred Package free trades rebate.
Scotia iTRADE® (Order-Execution Only) is a division of Scotia Capital Inc. (“SCI”). SCI is regulated by the Investment Industry Regulatory Organization of Canada and is a member of the Canadian Investor Protection Fund. Scotia iTRADE does not provide investment advice or recommendations and investors are responsible for their own investment decisions.
Ultimate Package holders will receive Ultimate Package GIC interest rates (“Ultimate Package GIC Rates”) on Long Term Non-Redeemable GICs with terms between 1 and 10 years, excluding Special Rate GICs, Market Linked GICs and Guaranteed Income Optimizer GICs. The Ultimate Package GIC Rates are subject to change without notice. For the latest Ultimate Package GIC Rates, contact your branch or call 1-800-4-SCOTIA.
Interest is accrued daily on your GIC from the issue date up to, but not including, the maturity date. For Scotiabank GICs that pay interest during their term (monthly, semi-annually or annually) the last interest payment is paid at maturity.