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Haven't we all been there? An unexpected expense pops up, or we overlook a post-dated cheque and we're caught short? For any of these reasons, Overdraft Protection provides peace of mind.
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Your cheques, withdrawals, pre-authorized payments, and INTERAC direct payment purchases are honoured up to your predetermined overdraft limit¹.
- Available for most chequing and savings accounts.
- Limits are available from a minimum of $250 to a maximum of $5,000.
- There's no monthly fee if you don't use the service.
- A $5.00 fee applies each month in which your account is overdrawn a day or more. In addition, interest is payable on overdrawn balances, calculated daily at Scotiabank Prime + 5% (per annum), charged monthly.
- Accounts with Overdraft Protection need to have a positive balance at least once every 30 days.
Overdraft under the Scotia Total Equity Plan
The Scotia Total Equity™ Plan is an innovative borrowing plan that has the flexibility to accommodate your changing needs. It allows you to use the equity in your home to gain control of your entire credit portfolio and lower the cost of your borrowing. To arrange Overdraft Protection under your Scotia Total Equity Plan, visit your Scotiabank branch.
Arranging for Overdraft Protection
Don’t get caught short. For more information or to arrange your Overdraft Protection, visit your Scotiabank branch or apply online.
To apply online for Overdraft Protection or for an Overdraft Protection Credit Limit Increase, simply click on this link to login to Scotia OnLine. After entering your login information you will be taken to the Application Centre screen where you can select to "Apply" or "Increase Credit Limit". Follow the on-screen instructions to complete your application.
¹ Subject to credit approval.
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