Banking advice and solutions for practising physicians
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Banking solutions for practising physicians
Scotiabank has worked with MD to deliver the Scotiabank Healthcare+ Physician Banking ProgramΔ with customized solutions to meet your unique needs as a physician. In addition to saving and rewards, this includes specialized policies and banking solutions created with medical professionals like you in mind. Plus for a limited time, sign up for the Ultimate package today and earn a $350 welcome bonus.
Personal Line of Credit
- Preferred interest rate of Prime -0.25%1
- No annual fee
Scotiabank Ultimate Package
- Monthly account fee waiver with no minimum balance required (approximate value of $371/year)2
- Earn up to $600 with an Ultimate Package and an investment plan3
- Unlimited debit transactions4, Interac e-Transfer† transactions and Scotia International Money Transfers5
- Up to $150 annual fee waiver each year on select credit cards6
- Earn an additional 0.10% interest on your MomentumPLUS Savings Account7
- Unlimited free Global non-Scotiabank ABM withdrawals8
Scotia Households for Physicians
- Scotia Households27 is a feature that allows physician hosts to share the benefit of free banking with their family and friends
- Create a Household and invite up to 3 members so they too, can receive a monthly account fee waiver on an Ultimate Package or Preferred Package chequing account — if those members set up qualifying transactions
- Your 3 Household members may live at different addresses, have different last names, or may not even be directly related to you
- Offer ends March 31, 2025
- Click here to create your household today
Scotiabank Passport® Visa Infinite* Card
- Save the annual fee9
- Earn up to $1,100+ in value in the first 12 months, including up to 35,000 bonus Scene+ points and annual fee waived on your first supplementary card10
- Earn up to 3X Scene+TM points on eligible purchases11
- Complimentary airport lounge membership including 6 free visits per year12
- No foreign transaction fees on foreign currency purchases made on your card (only the exchange rate applies)13 and comprehensive insurances14
To qualify, the customer must have a minimum annual income of $60,000 or a minimum household income of $100,000 or a minimum assets under management of $250,000
Preferred annual interest rates are 20.99% on purchases and 22.99% on cash advances, annual fee $150 for primary card, $0 for one additional supplementary card and $50 for each additional supplementary card thereafter
Scotiabank Gold American Express® Card
- Save the annual fee15
- Earn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points and first year annual fee waived16
- Earn up to 6X Scene+TM points on eligible purchases17
- No foreign transaction fees on foreign currency purchases made on your card (only the exchange rate applies)13 and comprehensive insurances14
- Preferred annual interest rates are 20.99% on purchases and 22.99% on cash advances, annual fee $120 for primary card, $29 for each additional supplementary card
Scene+ makes every experience more rewarding.
Scene+ is our enhanced rewards program that allows members to earn and redeem points for travel, shopping, dining and more.
Mortgages and Home Equity Lines of Credit
- Flexible solutions with preferred rates for residents, fellows and physicians on fixed, closed and variable rate mortgage terms18
- For residents, fellows and new-to-practice physicians, the mortgage amount qualified for is based on estimated projected income19
- Preferred interest rate of Prime -0.25%1 on Scotiabank Personal Line of Credit under the Scotia Total Equity® Plan (STEP)
- Option to earn Scene+TM points on your mortgage advance and cashback on your annual interest payments20
- Miss-a-Payment and Match-a-Payment option21
- Portability of your mortgage
Private Banking solutions for practising physicians
As a physician, continuing to build your practice, focusing on your family and planning for what’s next creates new and different financial opportunities. With Scotia Wealth Management Private Banking, you can simplify your life with a single point of contact for both your personal and practice banking needs.
We place a heavy emphasis on being responsive, working with a sense of urgency to prioritize your needs and requests. You can transact with confidence, meaning fewer delays or challenges and more time for you to focus on your medical practice and your family.
As a Private Banking client, you have access to banking and credit solutions for your personal and practice needs all in one place.22
- You will be assigned your own dedicated Private Banker and support team
- Access to strategic financing through our Total Wealth Credit Solution™
- Access to information on our borrowing to invest strategies◊
- Pursuits™: our concierge and travel management service23
- Hands-on management of time-sensitive transactions in coordination with your other advisors
- Access to a range of exclusive banking benefits24 to complement your everyday banking needs, including:
- Preferred foreign exchange rates25
- Annual fee waivers on the following Scotiabank credit cards: ScotiaGold Passport® Visa*, Scotia Momentum® Visa Infinite*, Scotiabank Passport® Visa Infinite*, Scotiabank® U.S. Dollar Visa*, and Scotiabank® Gold American Express®*26
Your Scotia Wealth Management Private Banker can provide credit solutions that support your immediate and long-term investment needs. As a credit strategist with expertise in debt structuring we will work directly with you to consider:
- Your personal investment objectives
- Assets held personally or through professional corporations
- Tax-efficiency
- Funding of interest expenses
When it comes to service and proactivity, insight and innovation are essential to maximize your opportunities and enable your life.
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Frequently asked questions
Ready to talk?
Find the right Advisor for your personal needs.
Scotiabank Advisor
To learn more, contact an Advisor, our Private Banking team, or call Scotiabank Healthcare+ at 1-888-222-3918
MD Advisor
Already an MD client or want to talk about your financial plans? Contact your MD Advisor or visit md.ca
Advice for practising physicians
Scotiabank has worked with MD Financial Management (MD) to deliver the Scotiabank Healthcare+ Physician Banking ProgramΔ with customize solutions to meet your unique needs as a physician. In addition to saving and rewards, this includes specialized policies and banking solutions created with medical professionals like you in mind.
Estate and trust services are offered through MD Private Trust Company.
MD Financial Management includes MD Financial Management Inc., MD Management Limited, MD Private Trust Company, MD Life Insurance Company and MD Insurance Agency Limited. MD Financial Management provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. For a detailed list of these companies, visit md.ca
All offers, rates, fees, features and benefits featured herein are subject to change.
Scene+ and the Icon Design are trademarks of Scene Plus IP Corporation, used under license.
- Trademark of Visa International Service Association and used under license.
To be eligible for the Physician Banking Program benefits you must be a Canadian resident that meet one of the following conditions:
• Enrolled in a Canadian university medical degree program
• Has been accepted or is completing a medical residency in Canada
• Medical fellow who is completing a Canadian fellowship granted by the Royal College of Physicians and Surgeons of Canada
• Physician with a medical doctorate (MD) and licensed to practice medicine in a Canadian province or territory
• Retired physician with a medical doctorate (MD) and has practiced medicine in a Canadian province or territory
The Scotiabank $600 Cash Bonus Bundle Offer (the “Offer”) is available between August 1, 2024 and October 31, 2024 (the “Offer Period”) to individuals who open new eligible accounts. Subject to the conditions below, eligible customers can earn $350 when they open a new Preferred Package or Ultimate Package chequing account and complete certain qualifying transactions and an additional $250 boost when they open a new eligible Registered Retirement Savings Plan, Tax-Free Savings Account or First Home Savings Account (each an “Eligible Registered Account”) with either The Bank of Nova Scotia or Scotia Securities Inc. (together, “Scotiabank”) and complete certain qualifying transactions.
For the purposes of this Offer, the following Scotia Registered Accounts are eligible for the Offer: Scotia Registered Retirement Savings Plans (RRSPs, excluding locked-in plans such as LIRAs and LRSPs) (each an “RRSP”), Scotia Tax-Free Savings Accounts (each a “TFSA”) and Scotia First Home Savings Accounts (each a “FHSA”). Scotia RRIFs (including locked-in income plans), RESPs, RDSPs, and non-registered Scotia Investment Accounts are not eligible for the Offer.
$350 Cash Bonus for Preferred or Ultimate Package Conditions: To qualify for the $350 cash bonus (the “Package Bonus”), you must:
1. Open a new Ultimate Package or new Preferred Package chequing account (the “Eligible Chequing Account”) during the Offer Period; and
2. Complete any two (2) of the following activities in your Eligible Chequing Account within 60 days of Eligible Chequing Account opening:
- Set up and clear at least one eligible automated and recurring direct deposit†, such as payroll or pension, which will recur monthly for a minimum of six (6) consecutive months, or
- Set up and clear a minimum of two (2) separate eligible recurring pre-authorized transactions† with a minimum value of at least $50 per transaction which will each recur monthly for a minimum of six (6) consecutive months, or
- Make at least one (1) eligible online bill payment† of at least $50 through the Scotiabank Mobile App or through Scotia OnLine.
† Click here for a list of eligible direct deposits, pre-authorized transactions and online bill payments. Notwithstanding a transaction may be included in these lists, certain exclusions may still apply and Scotiabank reserves the right to modify these lists and to determine whether a specific direct deposit, pre-authorized transaction or bill payment is eligible for the Package Bonus. Fund transfers initiated to other Scotiabank accounts (one time or recurring, e.g. credit card or savings account), to chequing or savings accounts held at other financial institutions, or to payment processing firms, are not eligible for the Package Bonus.
Up to $250 Registered Account Bundle Conditions: To qualify for up to $250 cash bonus (the “Bundle Bonus”), you must:
1. Meet the conditions for the $350 Package Bonus;
2. During the Offer Period and within 60 days of opening your Eligible Chequing Account, open a new Eligible Registered Account; and
3. Within 60 days of the Eligible Registered Account opening, complete the following activities to earn the applicable Bundle Bonus:
- To earn $50: set up and clear recurring pre-authorized contributions (PACs) from any Scotiabank personal bank account of at least $100 total monthly into your new Eligible Registered Account, which must recur for a minimum of six (6) consecutive months; and/or
- To earn $200: contribute or transfer in a minimum of CAD $5,000 into your new Eligible Registered Account and maintain that minimum amount each day for at least six (6) consecutive months.
Eligibility and Exclusions: Individuals who are currently holders of, or who were previously holders within the last two (2) years of, a Scotiabank Chequing Account are not eligible for the Package Bonus. “Scotiabank Chequing Account” means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. Employees of Scotiabank are also not eligible for these Offers. In order to qualify for the Bundle Bonus the individual cannot have held the same type of Eligible Registered Account (as that opened during the Offer Period) with Scotiabank in the six (6) months preceding the Offer Period.
General Terms: Provided all Package Bonus conditions outlined above have been met, the $350 Package Bonus will be deposited to the Eligible Chequing Account within approximately nine (9) months from Account open date. Provided all the Bundle Bonus conditions outlined above have been met, the additional Bundle Bonus (up to $250) will be deposited to your Eligible Chequing Account within approximately thirteen (13) months from the Eligible Registered Account open date. You have 24 months from the date you believe you have fulfilled the applicable Offer conditions to notify us if you have not received the applicable cash bonus so that we may confirm your eligibility.
For either cash bonus to be fulfilled, the Eligible Chequing Account and the Eligible Registered Account, as applicable, must be open and in good standing until the time of payout of the cash bonus. The Eligible Chequing Account is not in "good standing" if any of the following conditions are not met: (i) it has a negative balance exceeding the authorized overdraft limit, (ii) it has been in continuous overdraft for a period of three (3) consecutive months, or (iii) the Account holder is in breach of the Account agreement with Scotiabank. For purposes of this Offer, an Eligible Registered Account is not in 'good standing' if the account holder is in breach of the Eligible Registered Account agreement. Customers are responsible to confirm their contribution limits noted on their most current Notice of Assessment issued by the Canada Revenue Agency prior to making any contribution to their Eligible Registered Account(s). Scotiabank is not responsible for any contribution over a customer’s limit in connection with this Offer. For a spousal RRSP, the Bundle Bonus will be paid into the Eligible Chequing Account opened by the contributor.
This Offer is non-transferable and may not be duplicated. Limit of one (1) Package Bonus and one (1) Bundle Bonus per customer, regardless of the number of Eligible Chequing Accounts or Eligible Registered Accounts opened. If multiple Eligible Chequing Accounts or Eligible Registered Accounts are opened, only the first Eligible Chequing Account or first Eligible Registered Account opened, as applicable, will qualify for the respective Package Bonus or Bundle Bonus. For joint accounts, only the primary account holder is eligible for this Offer and only one (1) $350 Package Bonus and one (1) Bundle Bonus (up to $250), as applicable, will be applied to the primary account holder’s Eligible Chequing Account. All rates, fees, features and benefits are subject to change. This Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
* Savings and reward potential in first 12 months includes welcome offer value, first year point earn potential, foreign transaction fee and airport lounge savings as of February 28, 2024:
$250 in travel rewards (25,000 bonus Scene+ points) for new Scotiabank Passport Visa Infinite Card clients who spend $1,000 within the first 3 months;
$100 in travel rewards (10,000 bonus Scene+ points) when you spend $40,000 annually on your Account each year (12-months);
$50 supplementary card annual fee waiver on the first supplementary card for new Scotiabank Passport Visa Infinite Card clients;
$100 in foreign transaction fee savings based on average first year annual foreign spend per account (save the 2.5% foreign transaction fee markup typically charged by card issuers);
$250 in first year point earn potential (25,000 Scene+ points) on everyday purchases based on average annual first year spend per account with an average spend of 21% in 2X accelerator categories;
$350 value with a complimentary Visa Airport Companion Program Membership and 6 lounge passes (annual membership plus one free visit of approx. CAD$134/USD$99 plus 5 lounge passes at CDN$48/USD$35 per pass). Currency conversion as at February 28, 2024.
Potential First Year Value = up to $1,100
Actual offers, savings and rewards earned will depend on individual card usage and eligibility for applicable offers. Conditions apply.
1 Offer Description and Conditions: The 25,000 Bonus Scene+ Points Offer and First Year Annual Fee Waiver (the “Offer”) applies only to new Scotiabank Passport Visa Infinite credit card accounts (“Accounts”) that are opened by October 31, 2024 subject to the conditions below. . Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Plus, as a Scotiabank Passport Visa Infinite credit cardholder you are always eligible to earn an annual 10,000 Scene+ point bonus when you spend at least $40,000 in everyday eligible purchases annually on your Scotiabank Passport Visa Infinite account. Conditions apply - see below for further details.
25,000 Bonus Scene+ Point Offer Description and Conditions: To qualify for the 25,000 bonus Scene+ points (the “25,000 Point Bonus”), you must have at least $1,000 in eligible purchases posted to your new Account within the first 3 months of the Account open date. Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers or cash-like transactions), interest, fees or other charges.
The 25,000 Point Bonus will be credited approximately 2-3 business days after the qualifying $1,000 in eligible purchases has been posted to the Account within the first 3 months of the Primary cardholder’s Account open date, provided the Account is open and in good standing. For Joint Accounts with a Primary Borrower and Co-borrower, the 25,000 Point Bonus will be credited to the Scene+ account linked to the Account of the borrower that completed the last transaction to meet the qualifying $1,000 in eligible purchases. If a supplementary cardholder completes the last qualifying transaction, the 25,000 Point Bonus will be credited to the Primary Borrower’s Scene+ account. Points can be transferred between Primary and Co-Borrower or Supplementary Cardholder’s Scene+ accounts by contacting Scene+. The Account is considered in good standing if it is not past due or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account. Bonus Offer applies to new Accounts only opened by October 31, 2024. All other terms and conditions of the Program Terms continue to apply during the Offer period.
10,000 Annual Bonus Scene+ Point Conditions: As a Scotiabank Passport Visa Infinite credit cardholder you can earn an annual Scene+ point bonus starting at 10,000 Scene+ points when you make at least $40,000 in eligible purchases annually on your Account each year (12-months). Annual period starts from the Account open date and resets every 12 months thereafter. You will earn 2,000 bonus Scene+ points for every additional $10,000 in eligible purchases thereafter in that same year, after the $40,000 annual spend has been reached. Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers or cash-like transactions), interest, fees or other charges.
The Annual bonus Scene+ points will be credited within approximately 2-3 business days after you have met the $40,000 annual spend threshold on the Account and within approximately 2-3 business days after you have met each additional $10,000 annual spend threshold on the Account, provided your Account is open and in good standing (as defined above).
Offer Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are also eligible for the Offer.
Rates and Fees: The current annual fee is $150 for the primary card, $0 for the first additional card and $50 for each additional card thereafter (including those issued to co-borrowers and supplementary cardholders).
The current preferred annual interest rates for this Account are: 20.99% on purchases and 22.99% on cash advances (including balance transfers and cash-like transactions). All rates, fees, features and benefits are outlined in the Application Disclosure Statement and are subject to change.
You are awarded three (3) Scene+ Points for every eligible $1.00 purchase made at Sobeys, Safeway, IGA, Foodland, Foodland & Participating Co-ops, FreshCo, Chalo! FreshCo, Thrifty Foods, Rachelle Béry, Les Marchés, Voilà by Sobeys, Voilà by Safeway and Voilà par IGA locations charged and posted to the Scotiabank Passport Visa Infinite Account. This list of eligible grocers may be changed from time to time without notice. See full list of participating merchants across Canada at scotiabank.com/participatingstores.
You are awarded two (2) Scene+ Points for every eligible $1.00 purchase on all other grocery (not listed above), dining, entertainment, and daily transit purchases charged and posted to the Scotiabank Passport Visa Infinite Account (the earn rates for each of the above categories and merchants are referred to as the “Accelerated Earn Rates”). See below for the Spend Threshold that applies to this Accelerated Earn Rate.
You are awarded one (1) Scene+ Point for every $1.00 in all other purchases of goods and services charged to the Scotiabank Passport Visa Infinite Account (the “Regular Earn Rate”).
Spend Threshold for the Accelerated Earn Rate (Scotiabank Passport Visa Infinite Accounts only):
You will earn the Accelerated Earn Rate on the first $50,000 in purchases made on your Scotiabank Passport Visa Infinite account (the “Account”) annually at the following: purchases made at merchants classified in the Visa credit card network as: Grocery Stores and Supermarkets; Eating Places and Restaurants, Drinking Places, Fast Food Restaurants; Entertainment including Motion Picture Theatres, Theatrical Producers, Ticket Agencies, Bands, Orchestras, Miscellaneous Entertainers; Railroads, Local and Suburban Commuter Passenger Transportation, including Ferries, Passenger Railways, Taxicabs and Limousines, Bus Lines, Transportation Services (Not Elsewhere Classified). Some merchants may sell other products/services or are separate merchants who are located on the premises of these merchants, but are classified by the credit card network in another manner, in which case this added benefit would not apply. The annual spend calculation for the $50,000 maximum threshold is calculated annually from January 1st to December 31st each year. You will earn 1 point per $1 on purchases made on the Account after the 2 points per $1 / $50,000 annual spend maximum is reached and on all other purchases made on the Account. Scene+ points are only awarded on purchases. Scene+ points are not awarded for cash advances, balance transfers, Scotia® Credit Card Cheques, payments, returns, refunds or other similar credits, fees or interest or other charges. Scene+ points must be redeemed within 60 days of Account closure or they will be deleted permanently. If your Account is not in good standing, the accumulated Scene+ points are not eligible for redemption.
All dollar amounts are in Canadian currency unless otherwise stated.
Primary Cardholders with a valid Scotiabank Passport Visa Infinite 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).
To view a full list of participating airport lounges, their facilities, opening times and restrictions Cardholders can visit the Program App and Website. To view the full Terms and Conditions for the Program, including DragonPass Terms of Use and Privacy Policy and Visa’s Privacy Policy that apply to the Program, visit the Visa Airport Companion Program App or Website.
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 Card is cancelled. If your Scotiabank Passport Visa Infinite 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 Card, while available in most lounges within the Visa Airport Companion Program, is subject to availability.
* Savings and reward potential in first 12 months includes welcome offer value, first year point earn potential and foreign transaction fee savings as of February 28, 2024:
$450 in travel rewards (45,000 bonus Scene+ points) for new Scotiabank Gold American Express Card clients who spend $1,000 within the first 3 months (to earn 25,000 points) and who spend $7,500 within the first 12 months (to earn an additional 20,000 points);
$120 primary card annual fee waiver for the first year for new Scotiabank Gold American Express Card clients;
$55 in foreign transaction fee savings based on average first year annual foreign spend per account (save the 2.5% foreign transaction fee markup typically charged by card issuers);
$325 in first year point earn potential (32,500 Scene+ points) on everyday purchases based on average annual first year spend per account with an average spend of 25% in 5X accelerator and 5% in 3X accelerator categories.
Potential First Year Value = up to $950
Actual offers, savings and rewards earned will depend on individual card usage and eligibility for applicable offers. Conditions apply.
1 Offer Description and Conditions: The 45,000 Bonus Scene+ Points and First Year Annual Fee Waiver Offer (the “Offer”) applies only to new Scotiabank Gold American Express credit card accounts (“Accounts”) opened by October 31, 2024 and is subject to the conditions below. We will waive the annual fee for the primary card issued before October 31, 2024 on the Account for the first year only. All other terms and conditions of the Program Terms continue to apply during the Offer period. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
45,000 Bonus Scene+ Point Offer Description and Conditions: To qualify for 25,000 bonus Scene+ points (the “25,000 Point Bonus”), you must open a new Account by October 31, 2024 and have at least $1,000 in eligible purchases posted to your new Account in the first 3 months of the Account open date. To qualify for an additional 20,000 bonus Scene+ points (the “20,000 Point Bonus”), you must have at least $7,500 in eligible purchases posted to your new Account in the first year (12 months) of Account open date. Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers or cash-like transactions), interest, fees or other charges.
The applicable point Bonus will be credited approximately 2-3 business days after the qualifying amount in eligible purchases (i.e., $1,000 or $7,500) has been posted to the Account (within the first 3 months for the 25,000 Point Bonus or within the first 12 months for the 20,000 Point Bonus) provided the Account is open and in good standing. For Joint Accounts with a Primary Borrower and Co-borrower, the applicable point Bonus will be credited to the Scene+ account linked to the Account of the borrower that completed the last transaction to meet the qualifying amount of eligible purchases (i.e., $1,000 or $7,500). If a supplementary cardholder completes the last qualifying transaction, the applicable point Bonus will be credited to the Primary Borrower’s Scene+ account. Points can be transferred between Primary and Co-Borrower or Supplementary Cardholder’s Scene+ accounts by contacting Scene+. The Account is considered in good standing if it is not past due or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account.
First Year Annual Fee Waiver Offer Description and Conditions: We will waive the annual fee for the primary card issued on the Account before October 31, 2024 on the Account for the first year only.
Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are also eligible for the Offer.
Rates and Fees: The current annual fee is $120 for the primary card and $29 for each additional card (including those issued to co-borrowers and supplementary cardholders).
The current preferred annual interest rates for the Account are: 20.99% on purchases and 22.99% on cash advances (including balance transfers and cash-like transactions).
All rates, fees, features and benefits are outlined in the Application Disclosure Statement and are subject to change.
You are awarded six (6) Scene+ Points for every eligible $1.00 CAD purchase made at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry, and Co-Op locations charged and posted to the Scotiabank Gold American Express Account. This list of eligible grocers may be changed from time to time without notice. See full list of participating merchants across Canada at scotiabank.com/participatingstores.
You are awarded five (5) Scene+ Points for every eligible $1.00 CAD purchase on all other grocery (not listed above), dining, and entertainment charged and posted to the Scotiabank Gold American Express Account. You are awarded three (3) Scene+ Points for every eligible $1.00 CAD purchase in gas, public transit and select streaming services purchases charged and posted to the Scotiabank Gold American Express Account (the earn rates for each of the above categories and merchants are referred to as the “Accelerated Earn Rates”). You are awarded one (1) Scene+ Point for every $1.00 in all other purchases of goods and services charged to the Scotiabank Gold American Express Account (the “Regular Earn Rate”).
You will earn the accelerated Scene+ Points (6X, 5X or 3X as applicable) under the Scene+ program if you make purchases in Canadian currency only. For purchases that are made in foreign currency, you will only earn 1 Scene+ Point for every $1 charged to the Scotiabank American Express® credit card once that foreign currency has been converted into Canadian dollars.
Merchant classifications – American Express network Purchases must be made at merchants classified through the American Express network with a Merchant Category Code (“MCC”) that identifies them in the American Express network in the “grocery”, “dining”, “entertainment”, “gas”, “streaming service” or “transit” category. Purchases at merchants where these categories are not their primary business do not qualify. Some merchants may (i) provide other goods or services; or (ii) have separate merchants located on their premises that may not be classified with an MCC under the Accelerated Earn Rate categories and such purchases will not earn the Accelerated Earn Rate as applicable. The Accelerated Earn Rates for the Scotiabank Gold American Express Card applies to the first $50,000 in purchases charged to the Scotiabank Gold American Express Account annually at merchants qualifying for the Accelerated Earn Rate, calculated annually from January 1st to December 31st each year. Once you exceed the applicable annual spend threshold, you will continue earning points at the Regular Earn Rate of one (1) Scene+ Point per $1.00 in purchases charged and posted to the Scotiabank Gold American Express Account. Eligibility: Only purchases earn Scene+ Points. Cash advances (including Balance Transfers and Cash-Like Transactions), fees, interest or other charges, returns, refunds or other similar credits to your Account do not qualify for Scene+ Points. Scene+ Points will not be posted to an Account that is not in good standing when purchases are made or when a statement is issued, or if the Account is not open when a statement is issued. See your Scene+ Points terms at www.scotiabank.com/sceneplus for full program details. All dollar amounts are in Canadian currency unless otherwise stated.
To qualify for the Ultimate Package or Preferred Package monthly account fee waiver offer (the “Offer”), the following conditions (the “Qualifying Criteria”) must be met between September 29, 2023, and March 31, 2025 (the “Offer Period”):
By the Scotia Household Host:
i. Be a Canadian resident customer whose Scotiabank profile is set up as a ‘Physician’ (as described below under ‘Eligibility for Physician Hosts’);
ii. Be the ‘Host’ of a Scotia Household (as defined in the Scotia Households – Terms and Conditions); and
iii. Open a new or have an existing Ultimate Package or Preferred Package account (the “Host Account”) and if the Host Account is joint, be the primary account holder.
By the Scotia Household Member:
i. Be a Canadian Resident and a “Member” of a Scotia Household (as defined in the Scotia Households – Terms and Conditions) where an eligible Physician is the Host (the “Physician Household”);
ii. Open a new or have an existing Ultimate Package or Preferred Package account (the “Member Account”) and if the Member Account is joint, be the primary account holder; and
iii. Have an existing or set up and clear one of the following recurring transactions to the Member Account (“Eligible Recurring Transaction(s)”) within 60 days of either† (i) the date the member opened the Member Account, or (ii) the date on which the member joined the Physician Household or (iii) the offer start date, whichever is later:
- two separate and recurring eligible pre-authorized transactions, or
- one automated recurring eligible direct deposit
† For example, for members with an existing Member Account, the 60-day period begins when the member joins the Physician Household. For customers who opened a new Member Account after joining a Physician Household, the 60-day period begins when the Member Account is opened. For customer with an existing account, if this customer joins the Physician Household before the offer start, the 60-days period will start on the offer start date. The Eligible Recurring Transaction(s) must be cleared within the 60-day period.
Fulfillment for Physician Household Members: Subject to these terms and conditions, a monthly account fee waiver (a “Fee Waiver”) will be applied to an eligible Physician Household member’s Member Account for each consecutive month, provided that the Qualifying Criteria is met. The Fee Waiver will be applied beginning in the month following the month that the customer meets all the conditions and will not appear as a charge on the Member Account (e.g., A member of a physician household, with qualified product had two separate eligible pre-authorized transactions clear the account in November, this would result in the monthly Fee Waiver beginning in the month of December). To be eligible for a Fee Waiver, the Host Account and the Member Account (collectively, “Accounts”) must be open and in good standing for each month in which the Fee Waiver will be applied. The Accounts are not in “good standing” if (i) one of the Accounts has a negative balance exceeding the authorized overdraft limit, or (ii) it has been in continuous overdraft for a period of three (3) consecutive months. If a Physician Household member or Host no longer meets any Qualifying Criteria, or if there is a change in the Host, then the affected members of the Physician Household may begin to see the monthly account fee charged to their Member Account pursuant to the terms and conditions found in the Day-to-Day Banking Companion Booklet (subject to any monthly account fee waivers they may otherwise be eligible for).
All other fees, rates and applicable service charges on the Accounts will continue to be applied monthly (if applicable). Each eligible Physician Household member may receive a maximum of one (1) Fee Waiver each, up to a maximum of three (3) Fee Waivers per Physician Household. The order of the Fee Waiver application will be based on the date the eligible member joined the Physician Household with an eligible Member Account and completed the Qualifying Criteria. For joint accounts, only one Fee Waiver will apply per primary account holder (household members will have to be the primary account holder for the waiver to apply), regardless of the number of Accounts.
Eligibility for Physician Hosts: The Host must be enrolled as an eligible Physician at a Scotiabank Branch in the Scotiabank Physician Banking ProgramΔ and have a Host Account in good standing for the members of the Physician Household to be eligible for the Offer. The Host must provide a copy of these Offer terms and conditions to the members of their Household for them to understand their eligibility for the Offer. Offer may be changed, cancelled, or extended at any time without notice and cannot be combined with any other offers.