Scotiabank is committed to ensuring that Canadians have access to basic banking services, including a basic transactional account, at a minimal cost. We provide clear training and guidelines to employees on this issue, and straightforward account information to customers, so they can easily understand how to open a personal deposit account and manage their banking needs.
- A list of acceptable identification needed to open an account, cash government cheques (up to $1,500), and other information, is available in our branches, over the phone and on our website. More information is also available in the brochure Day-to-Day Banking, Opening a Personal Deposit Account or Cashing a Federal Government Cheque at Scotiabank/Cheque Holding Policy, available in our branches.
- Scotiabank's Basic Banking account is a low-cost banking option. The $3.95 monthly fee covers 12 debit transactions, including up to four teller-assisted transactions. No minimum deposit or proof of employment is required.
- To enhance customer service, Scotiabank and other members of the Canadian banking industry committed to reducing the maximum cheque hold period. Today, Scotiabank's maximum cheque hold period is seven business days for Canadian dollar cheques encoded with magnetic ink character recognition that are not damaged or mutilated, and that are drawn on a financial institution's branch located in Canada and deposited to personal deposit accounts. Details are available in the brochure listed directly above.
- Scotiabank has improved access for customers to open an account from the convenience of their homes (either by telephone or online) by successfully completing a combination of a cleared personalized cheque payable to herself/himself and a satisfactory credit inquiry.
- For persons aged 59 or over, we offer the Scotia Plus® program, a no-fee banking plan with unlimited free debit transactions plus other free or discounted services.
- Many of Scotiabank's international locations also provide low-cost banking services, such as in Barbados, where we provide a seniors' account, junior account, and ScotiaMAX deposit account, which allows customers to control their monthly costs.
- Scotiabank de Costa Rica has introduced the Escritorio de Negocios/Business Desk program to provide banking services to industrial workers whose shifts prevent them from visiting a branch to make deposits. Now, a Scotiabank representative visits factory locations to serve plant workers directly, and plans are in the works to extend the service to more companies.
- In Jamaica, Scotiabank offers the QuickPay service to assist working low-income persons who may not meet requirements to open a banking account. With QuickPay, employers in sectors such as agriculture, construction or manufacturing can pay salaries electronically to employees, who receive a debit card to access their earnings, withdraw cash from any Scotiabank or Multilink Network ATM or make secure point-of-sale purchases.
