Low-Fee Retail Deposit Account

Memorandum of Understanding

Scotiabank commits to provide for an indefinite period, a low-fee retail deposit account1 that meets the following guidelines:

  • A minimum of 12 debit transactions per month without charge, at least two of which can be completed in-branch;
  • Cheque writing privileges;
  • No extra charge for deposits; debit card; pre-authorized payment forms; monthly printed statements2; and online cheque image viewing3; and other services available for a reasonable fee;
  • Monthly account fee of $4 or less.

Scotiabank commits to provide these same minimum features at no cost to youths, students, seniors and beneficiaries of Registered Disability Savings Plans (RDSP) through the following Scotiabank accounts offered under this Commitment: