Based on your answers here's our recommendation...¹⁸

Ultimate Package

Registered trademarks of The Bank of Nova Scotia, used under license.

Interac e-Transfer is a registered trade-mark of Interac Corp. Used under license.

CreditView is a service provided by TransUnion. The Bank of Nova Scotia and its affiliates are not responsible for the service.

Terms and Conditions found in Scotiabank International Money Transfer Agreement apply

Foreign currency exchange rates apply. For Ultimate Package customers and customers onboarded as a part of the Scotiabank StartRight® Program, we do not charge a service fee for the transfer, however, foreign currency exchange rates apply. A transfer needs to be made from an eligible Scotiabank Chequing or Savings account. Subject to daily limits and additional terms and conditions as set out in the Scotiabank International Money Transfer Agreement found at www.scotiabank.com/ca/en/personal/ways-to-bank/scotiabank-international-money-transfer-agreement.html.

The Ultimate Package monthly account fee is waived if a minimum daily closing balance of $6,000 is maintained for the entire month in the Ultimate Package. If the monthly balance of the Ultimate Package account is less than the daily minimum of $6,000 but has a combined minimum daily closing balance of $30,000 across the Ultimate Package account and Momentum^PLUS Savings Account(s) for the entire month, the monthly account fee of the Ultimate Package account will be charged then rebated within the first 10 business days of the following month. The account must have sufficient funds to cover any fees, including the monthly fee. The account balance of one (1) Ultimate Package Account plus more than one (1) Momentum^PLUS Savings Account(s) qualifies to pay no monthly fees on one (1) Ultimate Package account. Account holders of the Ultimate Package who are also account holders of the Momentum^PLUS Savings Account(s) qualify.

The Scotiabank $500 Cash Bonus Bundle Offer (the “Offer”) is available between March 4, 2025 and April 30, 2025 (the “Offer Period”) to individuals who open new eligible accounts. Subject to the Offer conditions, eligible clients can:

i) Earn $400 when they open a new Preferred Package or Ultimate Package chequing account and complete certain qualifying transactions.

ii) Earn an additional $100 when they meet the conditions for the $400 bonus and open a new Eligible Registered Account (as defined below) 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 defined as “Eligible Registered Accounts”:  Scotia Registered Retirement Savings Plans (excluding Spousal RRSPs and 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 included in the definition and are not eligible for the Offer.

 

$400 Cash Bonus for Preferred or Ultimate Package Conditions: To qualify for the $400 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 receive 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 make 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.

 

$100 Registered Account Bundle Conditions: To qualify for the $100 cash bonus (the “Registered Bundle Bonus”), you must meet the conditions for the $400 Package Bonus, and:

1. During the Offer Period and within 60 days of opening your Eligible Chequing Account, open a new Eligible Registered Account; and
2. Within 60 days of the Eligible Registered Account opening, 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 three (3) 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. In order to qualify for the Registered 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.  Employees of Scotiabank are also not eligible for these Offers.

 

General Terms: Provided all Package Bonus conditions outlined above have been met, the Package Bonus will be deposited to the Eligible Chequing Account within approximately nine (9) months from Account open date. Provided all of the Registered Bundle Bonus conditions outlined have been met, the Registered Bundle Bonus will be deposited to your Eligible Registered Account within approximately ten (10) 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 clients investing in non-Canadian dollar currencies, the investment will be calculated based on Canadian dollar equivalent at the Scotiabank rate on the transaction date to determine eligibility for the offer. The Package Bonus and Registered Bundle Bonus will be paid in Canadian dollars.

 

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 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’s client account agreement.

 

This Offer is non-transferable and may not be duplicated. Limit of one (1) Package Bonus and one (1) Registered Bundle Bonus per client (total bonus of up to $500), regardless of the number of Eligible Chequing Accounts or Eligible Registered Accounts opened. If more than one (1) Eligible Chequing Account is opened, only the first Eligible Chequing Account opened will be eligible for the Package Bonus.

 

If more than one (1) Eligible Registered Account is opened, only the first Eligible Registered Account that fulfilled the Registered Bundle Bonus Offer conditions will be eligible for the Registered Bundle Bonus. If two (2) Eligible Registered Accounts fulfill on the same day, the Registered Bundle Bonus will be paid into only one of the Eligible Registered Account(s) in the following order: (1) Eligible TFSA, then (2) Eligible FHSA, then (3) Eligible RRSP.   For joint Eligible Chequing Accounts, only one (1) Package Bonus will be applied to the primary account holder’s Eligible Chequing Account and only the primary holder of the Eligible Chequing Account is eligible to receive the Registered Bundle Bonus.

 

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, except the Scotiabank Registered Account Welcome Offer. All other terms and conditions of the Eligible Chequing Accounts and Eligible Registered Accounts continue to apply – please refer to the Day-to-Day Banking Companion Booklet or Investment Companion Booklet, as applicable.  All rates, fees, features and benefits are subject to change.

Additional fees apply for shared ABM services, cross-border debit transactions and other banking services not included in the chequing account package. For accounts that do not provide unlimited debit transactions, a charge for additional debit transactions may apply if you perform an Interac e-Transfer transaction over and above the number of debit transactions allowed in the account.

Ultimate Package Account holders who add Overdraft Protection to their account will have the Overdraft Protection fee(s) automatically waived. Interest will remain to be payable on overdrawn balances calculated daily at 21% (per annum) and charged monthly. The account must have a positive balance at least once every 30 days. A $5.00 handling fee will be charged for each item that is paid while the account is overdrawn more than the authorized limit. Subject to approval.

If you open an Ultimate Package account (the “Account”), on or after the date you open the Account (“Account Open Date”) you will receive an annual fee rebate of up to $150 on one Eligible Card that you hold as the primary cardholder (“Annual Fee Rebate”), for each year as long as you have one eligible Scotiabank Credit Card account (an “Eligible Card”) and the Account  which are open and in good standing. You will receive the Annual Fee Rebate, even if you opened an Eligible Card prior to the Account Open Date. Eligible Cards are the Scotiabank Gold American Express®, Scotiabank Passport® Visa Infinite*, Scotiabank Passport® Visa Infinite Privilege*, Scotia Momentum® Visa Infinite* and Scotiabank Value® Visa* credit cards. Eligible Cards are subject to change. Each Account will only receive one Annual Fee Rebate regardless of the number of accountholders on the Account or Eligible Cards held or opened. The Annual Fee Rebate will be applied to the first annual fee charged on the Eligible Card after the Account Open Date. If you are the primary cardholder of multiple Eligible Cards, the Annual Fee Rebate will be applied to the first annual fee that is charged on an Eligible Card after the Account Open Date. If your Eligible Card has an annual fee that is greater than $150, you remain responsible for any difference after the Annual Fee Rebate is applied.  All other fees and charges applicable to the Eligible Card continue to apply. Annual Fee Rebate cannot be combined with any other annual fee rebate or waiver offer. Current annual fees, rates and other features for Eligible Cards are subject to change.

The Ultimate Package account includes non-Scotiabank Interac^⁺ ABM cash withdrawals in Canada and cash withdrawals at non-Scotiabank Visa^* or PLUS^* ABMs within and outside of Canada. Account holders may still be charged a convenience fee by the other bank and ABM operator, not by Scotiabank.

Ultimate Package account holders will receive a boost to the Regular Interest Rate (the “Ultimate Interest Rate Boost”). Refer to the Current Rates Page on Scotiabank.com for the Total Annual Interest Rate applicable to the Ultimate Package (current Regular Interest Rate plus Ultimate Interest Rate Boost), which is subject to change at any time without advance notice. It will take up to 10 business days after activating an Ultimate Package account for the Ultimate Interest Rate Boost to apply. The Ultimate Interest Rate Boost will cease to apply effective as of the date that the Ultimate Package account is closed. The Ultimate Interest Rate Boost is an annual rate calculated daily on the Momentum^PLUS Savings Account(s) closing balance and paid monthly.

Ultimate Package holders will receive Ultimate Package GIC interest rates (“Ultimate Package GIC Rates”) on Long Term Non-Redeemable GICs with terms between 1 and 10 years, excluding Special Rate GICs, Market Linked GICs and Guaranteed Income Optimizer GICs. The Ultimate Package GIC Rates are subject to change without notice. For the latest Ultimate Package GIC Rates, contact your branch or call 1-800-4-SCOTIA.

Interest is accrued daily on your GIC from the issue date up to, but not including, the maturity date. For Scotiabank GICs that pay interest during their term (monthly, semi-annually or annually) the last interest payment is paid at maturity.

Account holders who have a Scotia iTRADE account (except for corporate and non-personal Scotia iTRADE accounts) qualify to be credited with the commissions associated with their first 10 online commissionable trades of equities, options, debentures ($24.99 per debenture trade) or ETFs (“Eligible Securities”) placed across all account holder(s)’ Scotia iTRADE accounts within the calendar year when they open the Ultimate Package account. In the second calendar year and thereafter, account holders qualify to be credited with the commissions associated with their first 5 online commissionable trades of Eligible Securities placed across all their Scotia iTRADE accounts during each year. Both the Ultimate Package account and Scotia iTRADE accounts must be in good standing on the last day of every month. Credits will be applied to the account holder’s non-registered Scotia iTRADE account, and, in its absence, to the account holder’s registered Scotia iTRADE account in CAD currency (converted from USD to CAD for trades executed in USD, using the applicable foreign exchange rate) within the first 10 business days of the month following the trades. To be eligible, the primary or joint account holder of the Ultimate Package account can be either the primary or joint account holder of the Scotia iTRADE account. Credits will appear as $4.99 or $9.99 per trade depending on the account trading activity: standard commissions are $9.99, if more than 150 trades are placed per quarter commissions are valued at $4.99 per trade, debenture commissions are valued at $24.99 per trade. Trades executed by a Trading Authority in the Scotia iTRADE account are also eligible. To qualify you must not be in a disallowed debit position in your Scotia iTRADE accounts and not have any outstanding margin calls due in your Scotia iTRADE accounts. No cash redemption value. Free trades are limited to one per client. Only one account holder per each joint Ultimate Package account will be entitled to receive the credits for 10 or 5 free trades, as applicable, into their Scotia iTRADE account.

 

Scotia iTRADE® (Order-Execution Only) is a division of Scotia Capital Inc. (“SCI”). SCI is regulated by the Canadian Investment Regulatory Organization and is a member of the Canadian Investor Protection Fund. Scotia iTRADE does not provide investment advice or recommendations and investors are responsible for their own investment decisions.

Scene+ ScotiaCard® debit card: Earn 1 Scene+ Point for every $5 on debit purchases (up to a maximum of 300 points per transaction and 600 points per day) made from an eligible Scotiabank chequing or savings account using your Scene+ ScotiaCard debit card linked to a Scene+ membership, including Interac Debit contactless and Visa Debit transactions.  Normal Interac Debit contactless transaction limits apply. Scene+ Points accumulated using your Scene+ ScotiaCard debit card will be updated within 2-3 days to the associated Scene+ account.  Scene+ points are calculated on debit card purchases, less any refunds, returns, or other similar credits.  Other conditions apply. Visit www.scotiabank.com/sceneplusrewards for full terms and conditions.

The Ultimate Package qualifies for unlimited Canadian and U.S. dollar drafts. Account must be in good standing.

If you open a Preferred Package account (the “Account”), on or after the date you open the Account (the “Account Open Date”), you will receive an annual fee rebate for the first year only (the “First Year Annual Fee Rebate”) on one eligible Scotiabank Credit Card account (an “Eligible Card”) opened on or after the Account Open Date. Eligible Cards are the Scotiabank Gold American Express®, Scotiabank Passport® Visa Infinite*, Scotia Momentum® Visa Infinite* and Scotiabank Value® Visa* credit cards. Eligible Cards are subject to change. Each Account can only receive one First Year Annual Fee Rebate regardless of the number of account holders on the Account or Eligible Cards opened. The First Year Annual Fee Rebate will be applied to the first annual fee charged to one Eligible Card that you hold as the primary cardholder after the Account Open Date. If there is more than one Eligible Card opened after the Account Open Date, the First Year Annual Fee Rebate will be applied only to the first annual fee charged to one Eligible Card that you hold as the primary cardholder after the Account Open Date. This First Year Annual Fee Rebate is only available for new Eligible Cards opened on or after the Account Open Date. Current or previous cardholders of an Eligible Card or cardholders that transfer to an Eligible Card on or after the Account Open Date will not receive the First Year Annual Fee Rebate. All other fees and charges applicable to the Eligible Card continue to apply. First Year Annual Fee Rebate will not be applied if the Account or Eligible Card is not open or is not in good standing and cannot be combined with any other annual fee rebate offer. Current annual fees, rates and other features for Eligible Cards are subject to change.

The Preferred Package account includes 1 free non-Scotiabank Interac^⁺ ABM cash withdrawal within Canada per month. Access fee for each subsequent cash withdrawal at non-Scotiabank Interac^⁺ ABMs will be charged $2.00 per withdrawal. Each cash withdrawal from non-Scotiabank Visa^* or PLUS^* ABMs will be charged $3.00 in Canada and the U.S. and $5.00 outside of Canada and the U.S. Account holders may still be charged a convenience fee by the other bank and ABM operator, not by Scotiabank.

Preferred Package account holders will receive a boost to the Regular Interest Rate (the “Preferred Interest Rate Boost”). Refer to the Current Rates Page on Scotiabank.com for the Total Annual Interest Rate applicable to the Preferred Package (current Regular Interest Rate plus Preferred Interest Rate Boost), which is subject to change at any time without advance notice. It will take up to 10 business days after activating a Preferred Package account for the Preferred Interest Rate Boost to apply. The Preferred Interest Rate Boost will cease to apply effective as of the date that the Preferred Package account is closed. The Preferred Interest Rate Boost is an annual rate calculated daily on the Momentum^PLUS Savings Account(s) closing balance and paid monthly.

Preferred Package account holders will receive Preferred Package GIC interest rates (“Preferred Package GIC Rates”) on Long Term Non-Redeemable GICs with terms between 1 and 10 years, excluding Special Rate GICs, Market Linked GICs and Guaranteed Income Optimizer GICs. The Preferred Package GIC Rates are subject to change without notice. For the latest Preferred Package GIC Rates, contact your branch or call 1-800-4-SCOTIA. Interest is accrued daily on your GIC from the issue date up to, but not including, the maturity date. For Scotiabank GICs that pay interest during their term (monthly, semi-annually or annually) the last interest payment is paid at maturity.

The primary account holder of the Ultimate Package qualifies for a monthly account fee waiver on a Basic Plus Bank Account. The primary account holder on the Ultimate Package account can be either the primary or joint account holder on the Basic Plus Bank Account. If the primary account holder of the Ultimate Package had a Basic Plus Bank Account prior to opening a new Ultimate Package the fee waiver will apply to the bill cycle following the activation of the Ultimate Package. Limit of one (1) Basic Plus Bank Account per Ultimate Package account. Both accounts must be in good standing.

Subject to availability. Upon activation, the primary account holder of the Ultimate Package account who gets a safety deposit box will receive a $60.00 fee waiver (value of a small safety deposit box) applied annually as long as the account is in good standing. Limit of one (1) annual waiver per Ultimate Package account.

Package recommendations are provided for information purposes only and should not be relied upon as financial, investment or other advice. All recommendations are based on the information you provide and Scotiabank’s current product and service offerings. Terms and conditions apply to all packages and benefits displayed and should be reviewed carefully. All rates, fees, features, reward programs, bonus offers and benefits and related terms and conditions are subject to change. Please visit your nearest branch or call [1-800-472-6842] to speak with a Scotiabank representative.

The primary account holder of the Ultimate Package qualifies for a monthly account fee waiver on a Scotia^® U.S. Dollar Daily Interest Account. The primary account holder on the Ultimate Package account can be either the primary or joint account holder on the Scotia^® U.S. Dollar Daily Interest Account. If the primary account holder of the Ultimate Package had a Scotia^® U.S. Dollar Daily Interest Account prior to activating an Ultimate Package the fee waiver will apply to the bill cycle following the activation of the Ultimate Package. Both accounts must be in good standing. Limit of one (1) Scotia^® U.S. Dollar Daily Interest Account per Ultimate Package account.

The account qualifies for one (1) book of 100 personalized cheques per year per account. Account must be in good standing.

To qualify for the 1-Year No Monthly Account Fee Offer (the “Offer”) is available to eligible clients who open a new Preferred Package account under the StartRight^TM Program (the “Account”). During the first 12 months, your monthly Account fee will be waived and will not appear as a charge on your Account. The Account must be open and in good standing at the time of the waiver. All applicable service charges on the Account will continue to be applied monthly. After the first 12 months, you will begin to see the monthly Account fee charged to your Account unless you maintain a minimum daily closing balance of $4,000, in which case the monthly Account fee will be waived per the Account terms and conditions. Employees of The Bank of Nova Scotia (“Scotiabank”) and individuals who are currently or were previously holders/ joint holders of a Scotiabank chequing account within the last 2 years are not eligible for this Offer.  This Offer is non-transferable and cannot be combined with any other offers. Maximum one Offer per customer. All rates, fees, features and benefits are subject to change. Offer may be changed, cancelled, or extended at any time without notice.

The primary account holder of the Preferred Package qualifies for a monthly account fee waiver on a Scotia^® U.S. Dollar Daily Interest Account. The primary account holder on the Preferred Package account can be either the primary or joint account holder on the Scotia^® U.S. Dollar Daily Interest Account to qualify. If the primary account holder of the Preferred Package had a Scotia^® U.S. Dollar Daily Interest Account prior to activating a Preferred Package the fee waiver will apply to the bill cycle following the activation of the Preferred Package. Limit of one (1) Scotia^® U.S. Dollar Daily Interest Account per Preferred Package account. Both accounts must be in good standing.

The Ultimate Package foreign exchange rate (“Ultimate FX Rate”) is a preferred foreign exchange rate that is available exclusively for Ultimate Package account holders on qualifying transfers completed through Scotia OnLine or the Scotia Mobile Banking App. For a funds transfer to qualify for the Ultimate FX Rate, (1) the amount of the transfer must be equal to or less than USD $24,999.99 whereas above this amount volume discounts apply where applicable, (2) the Ultimate Package account must be selected as the source account or destination account, and (3) the corresponding account in the transfer transaction must be a Scotiabank US dollar account or credit card.  In all other circumstances, including funds transfers greater than USD $24,999.99 or those completed in other channels, regular foreign exchange rates will be applied. All transacting accounts must be in good standing at the time of transfer and the Ultimate Package account holder must be the primary or joint account holder of all applicable accounts. 

Ultimate Package holders will be eligible to receive preferred mortgage rates for eligible new or switch mortgages set up within a STEP, and upon renewal or refinance of existing eligible mortgages within a STEP. To qualify, the mortgage must be for principal residences, and customer must set up preauthorized mortgage payments from their Ultimate Package account. The offer is only available through Branch and Home Finance Advisor channels. All mortgages are subject to meeting Scotiabank’s standard credit criteria, residential mortgage standards and permitted loan amounts.  Preferred rates may change and may vary per applicant. Additional conditions may apply. Offer may be changed, cancelled, or extended at any time without notice.

Subject to meeting Scotiabank's standard credit criteria residential mortgage standards and maximum permitted loan amounts.A new application may be required to add or change products under the STEP in some circumstances and if you request a change to the credit limits of your products, you may be asked to provide updated information and/or submit a new application. In some cases, a new mortgage registration may be required. Not all mortgage solutions may be eligible to be included as part of STEP. Additional restrictions and conditions may apply.

Subject to approval. A customer must apply for an Overdraft Protection Plan to determine if they qualify.