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Money Master Savings Account
Build your savings while having access to your money at any time.
Is this Savings Account right for you?
Right for you if you:
- Want to earn interest on the money you save but also want convenient and easy access to your money, whenever you need it
- Want to save each time you use your debit card with Bank The Rest® savings program
- Want free unlimited transfers between Scotiabank accounts via self-service
May not be right for you if you:
- Want to earn higher interest the longer you save
Top reasons to choose this account
Earn interest on every dollar you save2
Saving made easy with Bank the Rest or automatic contributions
Convenient and easy access to your money, whenever you need it
Unlimited no-fee transfers to your other Scotiabank accounts1
No monthly account fees
Grow your savings with your debit card
With the Bank the Rest saving program, you’ll save each time you use your debit card on everyday purchases. Here’s how it works:
Select
When you enroll in Bank the Rest, you select whether you want your everyday debit purchases to be rounded up to the next multiple of $1 or $5.
Spend
Use your Scotia debit card for all your everyday purchases and it’ll be rounded up to the amount you choose when you enrolled.
Save
Automatically pocket the difference between your total purchase amount and the round up amount you choose in your Money Master account.
Bank the rest
Start growing your savings every time you use your debit card.
What you get with your account
Free InfoAlerts
Receive an email, text message, or a notification in your mobile app when important activity happens on your account.
Online and mobile banking
Manage, move, and monitor your money from wherever you are, whenever you want.
Account details
Account fees
For more details about our monthly record-keeping options and fees, review the summary of account fees.
Interest rate
Interest paid on every dollar you save.2 For more information, view our saving account interest rates.
Number of self-service transfers
You have unlimited no-fee transfers to other accounts using online banking, mobile banking, ABM, or over the phone. A $5 service charge applies for any additional debit transaction.1
Tools and advice
What is a savings account?
Everything you ever wanted to know about a savings account.
Investing automatically makes saving easier
Investing on a regular basis through PACs is a great way to build your savings easily and automatically.
Scotiabank Budget Calculator
A great way to plan for your financial future is to understand where you are now. Use our calculator for a better picture of your finances and to see if you have additional funds available to put towards your goals.
Get advice
Your financial plan can start with a simple conversation. Give us a call to book a meeting with one of our advisors.
1
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.
2
Annual interest rate is paid on the entire balance based on the tier within which the daily account closing balance falls. The interest rate paid depends on the total daily closing balance. Interest rate is applied to the entire balance, calculated daily, and paid monthly.