Business banking advice and solutions for practising dentists
Banking that grows with you throughout your career
Business banking advice and solutions for your practice
Scotiabank's Healthcare Specialists understand the unique financial needs of starting, managing and expanding your dental practice. We have decades of business banking experience to provide you with tailored advice and solutions to help you manage your finances.
Scotia Professional® Plan
- A dedicated Healthcare Specialist
- A choice of business accounts customized to suit all your business needs
- Scotia Professional® Plan line of credit with preferred interest rates1 and low monthly fees
- Up to 100 % financing for your practice2
- Practice acquisition, renovations, building purchase, equipment and leaseholds
- Cash Management solutions to help you manage your cash flow and save you time and money
- Preferred rates on merchant and payroll services
- A choice of premium credit cards to suit your business needs
Select Account for business
- Monthly plan fee waiver for Plan B (value of $40 a month) with no minimum balance required
- Plan B is a premium operating account which includes 70 transactions3 and 60 deposit4 items per month
- Other Select Account for business plans are also available
Scotiabank PassportTM Visa* Infinite Business Card5
- First year annual fee waiver for primary card holder6
- For a limited time, earn up to 40,000 bonus Scene+TM points in your first year7 (reward value of up to $400)
- Earn up to 1.5X Scene+TM points on eligible business purchases8
- Complimentary airport lounge membership including 6 free visits per year9
- No foreign transaction fees on foreign currency purchases made on your card10 (only the exchange rate applies) and comprehensive insurances11
- Preferred annual interest rates are 19.99% on purchases and 22.99% on cash advances, annual fee $199 for the primary card, $0 for one additional supplementary card and $50 for each additional supplementary card thereafter
Scotiabank Momentum® for business Visa* Card
- Annual fee rebate for primary card holder12
- 3% cash back on eligible gas station, restaurant and office supply store purchases, and on eligible recurring bill payments and 1% cash back on all other everyday purchases for your business13
- Longer interest-free grace period of 25 days14
- 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that)15
- Preferred annual interest rates are 19.99% on purchases and 22.99% on cash advances, annual fee $79 for the primary card, $29 for each additional supplementary card
Chase Merchant Services16
- Comprehensive payment processing solution with competitive rates for debit and credit card processing
- Free deposits with Scotiabank Business Account Plan17
- Next business day funding18
Frequently asked questions
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Want to learn more about how our Dentist Banking ProgramΔ can best serve your needs?
Please share your contact information and how we can best reach you and a Scotiabank Healthcare Specialist will contact you.
To be eligible for the Dentist Banking Program benefits you must be a Canadian resident that meet one of the following conditions:
- Enrolled in a Canadian university dental degree program
- Has been accepted or is completing a dental residency in Canada
- Dentist with a DDS or DMD and licensed to practice dentistry in a Canadian province or territory
- Retired dentist with a DDS or DMD and has practiced dentistry in a Canadian province or territory
Subject to credit approval. This is not a commitment to lend. Open to dentists that meet one of the following conditions:
- Dentist with a DDS or DMD and licensed to practice dentistry in a Canadian province or territory; or
- Retired dentist with a DDS or DMD and was licensed to practice dentistry in a Canadian province or territory.
To apply for the Scotiabank Passport Visa Infinite Business Card you must declare that you meet at least one of the following requirements:
You have a minimum business annual sales revenue of CAD $500,000, you have at least $60,000 in personal annual income, you spend at least $30,000 annually on your credit card, you have a least $100,000 in annual household income, or you have at least $250,000 in assets under management.
Offer Description and Conditions: The 40,000 Bonus Scene+ Points Offer (the “Offer”) applies only to new Scotiabank Passport Visa Infinite Business credit card accounts (“Accounts”) opened by October 31, 2022 subject to the conditions below. To qualify for 30,000 bonus Scene+ points (the “30,000 Point Bonus”), you must open a new Account by October 31, 2022 and have at least $5,000 in eligible purchases posted to your new Account in the first 3 months of the Account open date. To qualify for an additional 10,000 bonus Scene+ points (the “10,000 Point Bonus”), you must have at least $60,000 in eligible purchases posted to your new Account in the first year (12 months). Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges. The 30,000 Point Bonus will be credited to the primary cardholder’s Scene+ account within approximately 2-3 business days after the qualifying $5,000 in eligible purchases being posted to your Account within the first 3 months from the Account open date, provided the Account is open and in good standing. The 10,000 Point Bonus will be credited to the primary cardholder’s Scene+ account within approximately 2-3 business days after you have met the $60,000 annual spend threshold on the Account, provided your Account is open and in good standing. The Account is considered in good standing if it is past due or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account. Offer may be changed, cancelled or extended without notice at any time and cannot be combined with any other offers.
Offer Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank small business credit card in the past 2 years, including those that switch from an existing Scotiabank small business credit card, as well as employees of Scotiabank, are not eligible for the Offers. Subject to the above exclusions, Scotiabank personal credit cardholders are also eligible for the Offers.
Rates and Fees: The current annual fee is $199 for the primary card, $0 for the first additional card and $50 for each additional card thereafter.
The current preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions). All rates, fees, features and benefits are subject to change.
Primary Cardholders with a valid Scotiabank Passport™ Visa* Infinite Business Card account (the “Account”) have access to participating lounges within the Visa Airport Companion Program (“Program”), hosted and managed by DragonPass International Ltd. Cardholders must enroll for this benefit either through the Visa Airport Companion App (available to download for free) or on the Program Website using a valid Card on the Account. Upon enrollment, 6 complimentary lounge visits will be available for the Primary Cardholder per membership year; the complimentary visits can be used by any Cardholder for themselves and for their accompanying guests at participating lounges (however, Primary Cardholder must be present for each such use). Lounge visits are counted on a per person per visit basis (e.g. lounge access by a Cardholder and one accompanying guest will count as two (2) visits). All additional visits beyond complimentary visits are subject to a fee of $32 USD (subject to change) per person per visit. Applicable lounge access fees will be charged to the Card connected to the Cardholders’ Program membership (i.e. the Card enrolled in Program).
The Program services and benefits are provided by DragonPass and applicable third party offer providers and neither Visa nor The Bank of Nova Scotia is responsible for the Program or any claims or damages arising from participation in the Program.
Unless the Program membership is suspended or cancelled, the Program membership and any included complimentary lounge visits (if applicable) will automatically renew annually on the anniversary date (based on date when the Cardholder enrolled for the Program). Program membership will be cancelled if your Scotiabank Passport™ Visa* Infinite Business Card is cancelled. If your Scotiabank Passport™ Visa* Infinite Business Card is renewed or replaced, remember to update your card details within the Visa Airport Companion Program (either on the App or on the Program Website).
Access upon presentation of a valid and enrolled Scotiabank Passport™ Visa* Infinite Business Card, while available in most lounges within the Visa Airport Companion Program, is subject to availability.
Offer Description and Conditions: The Introductory 2.99% Balance Transfer Rate Offer (the “Offer”) applies only to cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions) (collectively “Cash Advances”) subject to the conditions below.
Introductory 2.99% Balance Transfer Rate Offer Description and Conditions: This introductory rate applies when the new Scotia Momentum for business Visa credit card account (“Account”) is opened by October 31, 2022 and will continue for 6 months from date of Account opening (the “Promotional Period”). This Offer is subject to any available limit for Cash Advances (the “Cash Advance Available Limit”) on your Account. This Offer cannot be used to transfer a balance from another Scotiabank Account, or to make a payment or deposit to another Scotiabank Account. After the Promotional Period, the 2.99% interest rate on any promotional Cash Advances (including any that remain unpaid after the Promotional Period ends) will increase to the preferred interest rate on Cash Advances (currently 22.99%). There is no balance transfer fee on balances transferred during the Promotional Period. If you don’t pay the minimum payment on your Account by the payment due date on your statement, two times in any consecutive 12-month period, you will lose the benefit of this promotional rate Offer and the interest rates that apply on any unpaid balance will increase to the standard annual interest rates that apply to your Account (currently 24.99% on purchases and 27.99% on Cash Advances).
Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank small business credit card in the past 2 years, including those that switch from an existing Scotiabank small business credit card, as well as employees of Scotiabank, are not eligible for Offer. Subject to the above exclusions, Scotiabank retail credit cardholders are eligible for the Offer.
Payment Allocation: In general, if you make a payment that exceeds the minimum payment on your statement, we will apply your payment on a proportionate basis among each group of billed charges on your Account. We group charges based on the interest rate that applies to the group of charges. Your payment cannot be applied to the balance(s) of your choice. See your credit card agreement for more information about how we apply payments to your Account.
Rates and Fees: The current annual fee is $79 for the primary card and $29 for each additional card. The current preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on Cash Advances.
All rates, fees, features and benefits are subject to change.