Based on your answers here's our recommendation...⁵
Money Master Savings Account  

The Scotiabank Cash Bonus Bundle Offer Terms and Conditions

1. The Scotiabank Cash Bonus Bundle Offer (the “Offer”) is available between July 3, 2026 and October 29, 2026 (the “Offer Period”) to individuals who open new eligible accounts. Subject to the Offer conditions, eligible clients can earn $700 when they open a new Preferred Package or Ultimate Package chequing account and complete certain qualifying transactions. Plus, clients who meet the conditions for the $700 bonus are also eligible to earn up to $300 in additional cash bonuses when they bundle their new Preferred or Ultimate Package chequing account with a new Money Master Savings Account and/or a new eligible Credit Card Account and complete certain qualifying transactions/conditions.

$700 Cash Bonus for Preferred or Ultimate Package Conditions

2. To qualify for the $700 cash bonus (the “$700 Package Bonus”), you must:

a. Open a new Ultimate Package or new Preferred Package chequing account (the “Eligible Chequing Account”) during the Offer Period;

b. 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 in total; and

c. Within 60 days of Eligible Chequing Account opening, complete any one (1) of the following activities:

        i. Set up and make a minimum of one (1) eligible recurring pre-authorized transaction with a value of at least $50 which will recur monthly for a minimum of six (6) consecutive months, or

       ii. Make at least one (1) eligible online bill payment of at least $50 through the Scotiabank Mobile App or through Scotia OnLine, or

       iii. Complete at least one (1) eligible Visa* Debit purchase using your ScotiaCard® anywhere Visa* Debit is accepted. Only the following Visa Debit transaction types are eligible: online debit purchases, and in-store purchases made outside of Canada.

3. 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 $700 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 $700 Package Bonus.

$200 Money Master Savings Account Bundle Conditions

4. To qualify for a $200 cash bonus (the “$200 Savings Bundle Bonus”), you must meet all of the conditions for the $700 Package Bonus, and:

a. During the Offer Period and within 60 days of opening your Eligible Chequing Account:

           i.  Open a new Money Master Savings Account (the “Eligible Savings Account”).

          ii.  Enroll your new Eligible Savings Account in either the Pay Yourself First or the Savings Finder tool (each a “Smart Savings Tool”).

b. Remain enrolled in your selected Smart Savings Tool for 90 consecutive days.

5. Enrolment in a Smart Savings Tool is subject to certain eligibility requirements and can only be done through the Scotiabank mobile banking app. For example, enrollment in the Pay Yourself First tool will not be available if you have not had at least 4 recurring deposits to your Scotia Chequing Account at the time you attempt to enroll. Also, both the Eligible Chequing and Savings Accounts must be “Any to Sign” to be eligible for the Smart Savings tools. Only one Smart Savings Tool can be enrolled in at a time but you can switch tools at any time, however, you must remain enrolled in a Smart Savings Tool for 90 consecutive days from the date of first enrolment in Section 4.a.ii. above.  See the Smart Savings Tool Agreement for full terms and conditions.

$100 Credit Card Bundle Bonus Conditions

6. To be eligible to receive a $100 cash bonus (the “$100 Credit Card Bundle Bonus”), you must meet all of the conditions for the $700 Package Bonus, and:

a. Within 60 days of opening your Eligible Chequing Account, you must apply for and be approved for an Eligible Credit Card Account in which you are the primary cardholder; and

b. Within 60 days of opening your Eligible Credit Card Account, you must complete at least one Qualifying Purchase on your Eligible Credit Card Account.

A “Qualifying Purchase” is a Purchase (as defined in your credit agreement for your Eligible Credit Card Account) that is posted to your Eligible Credit Card Account, less any refunds, returns or other similar credits on your Eligible Credit Card Account. Qualifying Purchases exclude cash advances (including balance transfers and cash-like transactions), interest charges, fees and payments posted to your Eligible Credit Card Account.

“Eligible Credit Card Accounts” currently include the following:

• Scotiabank® Scene+TM Visa* Card
• Scotiabank Passport® Visa Infinite +*
• Scotiabank Passport® Visa Infinite Privilege* Card
• Scotiabank American Express^® Card
• Scotiabank Gold American Express®
• Scotiabank Platinum American Express® Card
• Scotia Momentum® No-Fee Visa* Card
• Scotia Momentum® Visa*  Card
• Scotia Momentum® Visa Infinite +*
• Scotiabank Value® Visa* Card

Eligible Credit Card Accounts are subject to change.

Offer Eligibility and Exclusions:

7. $700 Package Bonus: 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 this 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.

8. $200 Savings Bundle Bonus:  Individuals who currently hold or have held a Money Master Account with Scotiabank in the six (6) months preceding the Offer Period are not eligible for this Bonus.

9. $100 Credit Card Bundle Bonus: Individuals who are currently or were previously primary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card are not eligible for this Bonus.

10. Employees of Scotiabank and all of its subsidiaries are also not eligible for the Offer.

Offer Fulfillment

11. Provided all of the applicable Offer conditions have been met:

a. the $700 Package Bonus will be deposited to the Eligible Chequing Account within approximately nine (9) months from account open date. 

b. the $200 Savings Bundle Bonus will be deposited to your Eligible Savings Account within approximately ten (10)  months from the Eligible Savings Account open date.

c. the $100 Credit Card Bundle Bonus will be deposited to your Eligible Scotiabank Chequing Account within approximately ten (10) months from the credit card open date.  

12. 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. All bonuses will be paid in Canadian dollars.

13. For any cash bonus to be fulfilled, the Eligible Chequing Account, the Eligible Savings Account and the Eligible Credit Card 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: (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. The Eligible Savings Account is not in “good standing” if it has a negative balance.  An Eligible Credit Card Account is not in “good standing” if it is past due or over limit and the Cardholder(s) is in breach of the Revolving Credit Agreement that applies to the Account.

14. If more than one (1) Eligible Chequing Account is opened, only the first Eligible Chequing Account opened will be eligible for the $700 Package Bonus. If more than one (1) Eligible Savings Account is opened, only one Eligible Savings Account that fulfilled the $200 Savings Bundle Bonus conditions will be eligible for the $200 Savings Bundle Bonus. If more than one (1) Eligible Credit Card Account is opened, only the first Eligible Credit Card Account opened will be eligible for the $100 Credit Card Bundle Bonus.

15. For joint accounts, only the primary Eligible Chequing Account holder is eligible to receive the $200 Savings Bundle Bonus and the $100 Credit Card Bundle Bonus into their Eligible Savings Account and Eligible Chequing Account, as applicable. The primary account holder must be the same client on both the Eligible Chequing Account, Eligible Savings Account, and Eligible Credit Card Account.

General Terms

16. This Offer is non-transferable and may not be duplicated. Limit of one (1) $700 Package Bonus, (1) $200 Savings Bundle Bonus, and one (1) $100 Credit Card Bundle Bonus per client (for a total bonus of up to $1,000), regardless of the number of Eligible Chequing Accounts or Eligible Savings Accounts or Eligible Credit Card Accounts opened.

17. All rates, fees, features and benefits are subject to change. All other terms and conditions of the Accounts and Smart Savings Tools Agreement continue to apply. 

18. The Offer is non-transferable and may not be duplicated. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers on the Account, unless otherwise permitted by Scotiabank.

The regular annual interest rate on the Money Master Savings Account is paid on the entire balance based on the tier within which the daily account closing balance falls (tier rates are subject to change and may not differ from one another). The interest rate paid depends on the total daily closing balance. Interest rate is applied to the entire balance, calculated daily, and paid monthly. Interest rates are subject to change at any time with or without notice. For the current bonus interest rate please go here.

Self-service means transfers processed without the help of a Teller through online banking, Scotiabank mobile banking, ABM, TeleScotia®, and the Contact Centre. A $5.00 per-transaction fee applies on all debit transactions except transfers to your other Scotiabank accounts using online banking, TeleScotia®, Scotiabank mobile banking, a Scotiabank ABM, and the Customer Contact Centre. Transactions for which a fee will be charged include branch-assisted withdrawals and transfers, ABM withdrawals, direct payment purchases, bill payments, pre-authorized payments, and cheque withdrawals. 

A maximum of five Premium Periods at any one time, each of which can have a length of 90 days, 180 days, 270 days, or 360 days. For each Premium Period, Premium Interest is calculated daily by applying the Premium Interest Rate to each deposit, including any accumulated Regular Interest, until the end of the Premium Period. Premium Interest is paid at the end of each Premium Period, so long as no debit transaction has occurred within that Premium Period. When a debit transaction occurs, no Premium Interest is payable for that Premium Period and a new Premium Period of the same length will commence the same day. Refer to Current Rates Page for current Premium Interest Rates, which are subject to change.

When you don’t make any withdrawals within the Premium Period timeframe you select.

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 provided to us during this online process in relation to Scotiabank’s current product and service offerings. Terms and conditions apply to all products, services, offers and benefits displayed and should be reviewed carefully. All rates, fees, products, services, 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.