What if a digital tool could actually help you save?

Meet Pay Yourself First and Savings Finder. When paired with an eligible Scotia chequing account and a Money Master Savings Account, these Smart Savings Tools can help you work towards your financial goals by moving money between accounts to help you save.

Enrol in one of these Smart Savings Tools in Advice+

In the Scotiabank app on your mobile device, tap on Advice+, then tap on one of the smart tool cards to enrol

Enrol in one of these Smart Savings Tools in Advice+

In the Scotiabank app on your mobile device, tap on Advice+, then tap on one of the smart tool cards to enrol

Smart tools that do the saving for you

Pay Yourself First and Savings Finder are two new Smart Savings Tools that are available for free on your Scotia mobile app. By understanding your income and spending habits, these tools can help you stay on track with your savings goals. They help you seamlessly move money from your Scotia chequing account to your Money Master Savings Account. Best of all, you can access your savings and opt out of these tools at any time.

Which tool is right for you?

Pay Yourself First
  • Works best if you have a regularly recurring deposit like payroll set up
  • Auto-transfers a portion of your payroll or other recurring deposits from your designated chequing account to your Money Master Savings Account
  • You set the amount or percentage to save, and this tool will move funds when it appears that you can afford it1
  • The transfer amounts will change based on the transaction activity in your chequing account
  • After each transfer, you’ll receive a notification in the Scotia app letting you know the amount of each transfer

Savings Finder

  • Works best if you have fluctuating income and expenses
  • Looks at your income and cash flow to find ways to save when it appears you can afford it2
  • You set your monthly savings target, and this tool will move small amounts from your designated chequing account to your Money Master Savings Account
  • You’ll receive a monthly notification in the Scotia app letting you know the total amount that was transferred that month
  • Savings Finder will only work within the monthly savings target you set when you enrol

Save even more with a total interest rate up to 0.55%3

When you enrol in Pay Yourself First or Savings Finder, you’ll receive an ongoing bonus interest rate of 0.54%3 on top of your base rate of 0.01%4 on your Money Master account for as long as you remain enroled. That’s even more money to save!

 

To enrol in one of these Smart Savings Tools, you need to:

  • Have a Money Master Savings Account

  • Have an eligible chequing account ⓘ

  • Have access to Scotia Smart Money by Advice+ on the Scotia mobile app

    • Note: You can only be enroled in one tool at a time. Pay Yourself First works best if you have a regularly recurring deposit like payroll set up, while Savings Finder might be better if you have fluctuating income and expenses. The choice is yours and you can manage these tools anytime in Advice+.

    Money Master Savings Account

    With this account you can access your money at any time, automate your savings, and watch your money grow. Plus, earn interest on every dollar saved.4

    Scotia chequing accounts

    Choose from a wide range of accounts and packages to make your everyday banking easier. Plus, enjoy special offers and perks.

    Scotia Smart Money by Advice+

    A set of money management features in the Scotiabank mobile app that offers personalized insights, advice,5 and more control over your money.

    Enrol in one of these Smart Savings Tools in Advice+

    In the Scotiabank app on your mobile device, tap on Advice+, then tap on one of the smart tool cards to enrol

    Enrol in one of these Smart Savings Tools in Advice+

    In the Scotiabank app on your mobile device, tap on Advice+, then tap on one of the smart tool cards to enrol

    How to start using your Smart Savings Tools

    Pay Yourself First

    There are a couple of ways to start.
    From the Scotia app’s home screen, select Advice+, then you’ll either:

    1. Select the card that says, Smart Savings Tools: Enrol today and get an ongoing boost.
    2. Or select View details on the invitation in the Insights section.
    3. And follow the steps to enrol.
    4. In the Manage section in Advice+ on the mobile app, you can easily manage your transfers or stop them by opting out.

    Frequently Asked Questions

    Have more questions? Visit our Help Centre to learn more.

    Maximize your savings with Smart Savings Tools by Advice+

    In the Scotiabank app on your mobile device, tap on Advice+, then tap on one of the smart tool cards to enrol

    1
    Based on an analysis of your transaction activity (including spending patterns, expenses, and incoming funds) in your designated chequing account over the three-month period prior to the transfer and the default balance limit for the Pay Yourself First tool of $400, or the limit you have chosen. For example, if your designated chequing account balance is below the default limit of $400, then the tool will not initiate the transfer. Click here for full terms and conditions.
    2
    Based on an analysis of your transaction activity (including spending patterns, expenses, and incoming funds) in your designated chequing account over the three-month period prior to the transfer and the default balance limit for the Savings Finder tool of $200, or the limit you have chosen. For example, if your designated chequing account balance is below the default limit of $200, then the tool will not initiate the transfer. The range of amounts and frequency of such transfers is set by Scotiabank and may be amended from time to time, without prior notice to you. For more information on the current ranges and frequencies please refer to the FAQs section in Scotia Smart Money by Advice+ on the Scotia mobile app. Click here for full terms and conditions.
    3

    Interest on the credit balance in your Target Account (defined below) will be paid in accordance with the terms of your Day-to-Day Banking Companion Booklet.

    In addition to the interest payable on your Target Account, by enrolling into a Smart Savings Tools option, you will be eligible to earn the bonus interest ("Bonus Interest") on the daily account closing balance in your eligible Money Master Savings Account (“Target Account”).  Within approximately 5 business days after you have successfully enrolled your Target Account in one of the Smart Savings Tools options and for so long as it continues to remain enrolled, your bonus interest rate will be applied daily to the entire daily account closing balance.

    Your Bonus Interest will be calculated daily and payable monthly.  The bonus interest rate is an annual rate and is subject to change with or without notice. For the current bonus interest rate please go here.

    This Bonus Interest cannot be combined with any other bonus interest offer applicable to your Target Account.  If you accept an offer for any other or additional bonus interest offer on your Target Account, you will no longer be eligible to receive the Bonus Interest and such Bonus Interest will automatically no longer be applied to your Target Account as of the date of your acceptance of any such offer. This feature is subject to change or be cancelled at any time. 

    4
    Annual interest rate is paid on the entire balance based on the tier within which the daily account closing balance falls (tier rates are subject to change and may not differ from one another). The interest rate paid depends on the total daily closing balance. Interest rate is applied to the entire balance, calculated daily, and paid monthly. Interest rates are subject to change at any time with or without notice. For the current bonus interest rate please go here.
    5
    To access Scotia Smart Money by Advice+, you must have an active personal banking retail product, have transacted at least once on your account within the preceding 6 months and have logged into the Scotia Mobile Banking App.