The Momentum Chequing Account is changing to the Preferred Package

We’re bringing you a better banking experience

On December 1, 2019, the Momentum Chequing Account will be changing to the new Preferred Package.

We’ve listened to our customers and are making some big updates, including new and improved features and benefits. Starting December 1, 2019, you will start earning SCENE®* or Scotia Rewards points on debit purchases instead of 1% cash back.

Here are some of the new and improved features

Unlimited free Interac e-Transfer transactions

No fees to safely and securely send money to friends and family in Canada.

1st year credit card annual fee waiver1

1st year annual fee waiver on select Scotiabank credit cards.

No monthly account fee on Scotia® U.S. Dollar Daily Interest Account2

A smart way to save U.S. dollars with access to competitive foreign exchange rates.

Interest Rate Boost on MomentumPLUS Savings Account3

+0.05% Interest Rate Boost on all balances in your MomentumPLUS Savings Account to help you save faster.

Preferred Rates on Select GICs4

Access to Preferred Package GIC rates on select GICs4 to help you save for the future and achieve your financial goals.

Your monthly account fee of $15.95 per month won’t change. And now, with the Preferred Package, you’ll be able to pay $0 or no monthly account fee if you maintain a minimum daily closing balance of $4,000 for the entire month.

Your account number and any direct deposits or pre-authorized transactions you’ve set up with your Momentum Chequing Account will not change and will carry over to your new Preferred Package.

Key dates for your cash back

You’ll continue to earn cash back on debit purchases made on your Momentum Chequing Account until November 30, 2019.

Cash back payout for eligible purchases made between November 2018 and October 2019              

  • By November 30, 2019

Last cash back payout for purchases made in the month of November 2019           

  • By December 15, 2019

Earn rewards

You’ll continue to enjoy unlimited debit transactions5 and earn rewards on your everyday purchases with the SCENE or Scotia Rewards program.6,7

Received a Passport ScotiaCard in the mail?  Please activate it prior to December 1, 2019 by making a debit purchase, visiting Scotia OnLine or using an ABM so you can start earning Scotia Rewards points on December 1, 2019.

Already have a SCENE or Passport ScotiaCard?  You can continue using your existing debit card and will automatically start earning points with your Preferred Package on December 1, 2019.

Don't have a ScotiaCard?  Don't worry. You can visit any branch to select a new card so you can start earning points on your debit purchases. 


Rewards options

We’re happy to offer choices for rewards on your everyday purchases. Enjoy the flexibility of using your points throughout the year, or save and redeem them for larger rewards.

SCENE®* Rewards Program
  • Earn SCENE points faster towards entertainment rewards like movies, meals and more
  • Earn 1 SCENE point for every $5 you spend on all your everyday purchases using your SCENE debit card
  • Learn more about SCENE by visiting scene.ca
Scotia Rewards® Program
  • Collect Scotia Rewards points to enjoy more rewards, more often - redeem for travel, gift cards, the latest in tech, and more
  • Earn 1 Scotia Rewards point for every $5 you spend with your Passport ScotiaCard
  • Learn more about Scotia Rewards at scotiarewards.com

You can always swap your reward program by signing into Scotia OnLine and changing your ScotiaCard type. 

  1. Go to “Manage my account” at the top right
  2. Click “Change or replace ScotiaCard
  3. Choose your reward program by selecting a new ScotiaCard

Or, change your reward program by visiting a branch or calling 1-888-999-7185. You can convert your points between SCENE and Scotia Rewards at any time.

Make sure that you have an activated SCENE or Passport ScotiaCard to automatically start earning SCENE or Scotia Rewards points on December 1, 2019, when your account changes to the Preferred Package.

Your satisfaction is important to us

To accept the changes above, simply keep using your account or keep it open after December 1, 2019 when the changes will take effect and your account will become the Preferred Package.  There will be no additional changes to your account at this time.8

As the bank with the Highest Customer Satisfaction with Retail Banking Advice9, we always want to find solutions that best suit our customers. If you don’t think these changes fit your needs, you can close your account without additional cost or penalty within 90 days of the changes taking effect.

If you have any questions about these changes, or want to see other banking options  we may have that may benefit you, please visit your local branch, or call 1-888-999-7185 from Monday to Saturday, 7:00AM to 11:00PM EST. We would be happy to assist.

Thanks for choosing Scotiabank for your banking needs.

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Summary of changes

Additional information

Scotiabank is a member of Canada Deposit Insurance Corporation (CDIC)