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With the Scotiabank Ultimate Package, you can get a credit card annual fee waiver4 and earn Scene+TM points faster.
Is this chequing account right for you?
Right for you if you:
- Can benefit from unlimited transactions per month included in this account
- Use for everyday banking such as purchases, ABM transactions and payroll deposits
May not be right for you if you:
- Are interested in only opening a savings account that earns interest
Monthly fees
$0* or $30.95 per month
*No monthly account fee when you maintain a minimum daily closing balance of $6,000 in your Ultimate Package, or a combined balance of $30,000 across your Ultimate Package and your MomentumPLUS Savings Account.1
Account features
Account benefits
Unlimited transactions
- Debit payments2
- Interac e-Transfer transactions†
- No-fee3 Scotia International Money Transfers
Services and accounts
- Waive up to $150 in ongoing annual fees on select credit cards4
- No overdraft protection fee5
- Waive the monthly account fee on a Basic Plus Bank Account6 (save up to $143 per year)
Grow your money
Build your savings
- Earn a 0.10% higher interest rate on your MomentumPLUS Savings Account7
- Waive the monthly account fee on a Scotia® U.S. Dollar Daily Interest Account8
Rates and trades
- Receive Ultimate Package rates on select guaranteed investment certificates (GICs)9
- Get 10 free equity trades at Scotia iTRADE® in your first year (approximately a $100 value) and 5 free equity trades every year after10
Exclusive perks
Earn and redeem rewards
- Take advantage of the Scene+TM Program11
Manage your money
- Make unlimited free global non-Scotiabank ABM withdrawals12
- Get special rates on select foreign exchange transactions13
Extra perks
- Free personalized cheques14 and drafts15
- Free small safety deposit box ($60 annual fee waived)16
Your award-winning bank account
Awarded best chequing account by MoneyGenius on January 1, 2024
Awarded best premium bank account for bundling by MoneySense on January 1, 2024
Special offer
Earn up to $800 with an Ultimate Package and eligible investment plans.17,18
Frequently asked questions
Let’s get started
Get the Ultimate Package chequing account.
Have questions?
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Get to know your account
Your essential guide to everyday banking.
The day-to-day banking companion booklet provides an outline of your card’s benefits.
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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.
The Scotiabank $450 Cash Bonus Bundle Offer (the “Offer”) is available between November 1, 2024 and March 1, 2025 (the “Offer Period”) to individuals who open new eligible accounts. Subject to the conditions below, eligible customers can earn $400 when they open a new Preferred Package or Ultimate Package chequing account and complete certain qualifying transactions and earn an additional $50 boost when they open a new eligible Scotia Registered Account (“Eligible Registered Account”) with either The Bank of Nova Scotia or Scotia Securities Inc. and complete certain qualifying transactions.
For the purposes of this Offer, the following Scotia Registered Accounts are “Eligible Registered Accounts”: Scotia Registered Retirement Savings Plans (RRSPs, excluding Spousal RRSPs, 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.
$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 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.
$50 Registered Account Bundle Conditions: To qualify for the $50 cash bonus (the “Bundle Bonus”), you must meet the conditions for the $400 Package Bonus, and during the Offer Period:
1. Open a new Eligible Registered Account; and
2. By March 1, 2025, set up and clear one recurring pre-authorized contribution (PAC) from any Scotiabank personal bank account with a minimum value of at least $100 per month in your new Eligible Registered Account, which must have recurred for a minimum of three (3) consecutive months by May 31, 2025.
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 Bundle Bonus the individual cannot currently or in the preceding 6 months have held the same type of Eligible Registered Account (as that opened during the Offer Period) with either The Bank of Nova Scotia or Scotia Securities Inc. Employees of Scotiabank are also not eligible for the Package Bonus or Bundle Bonus.
General Terms: Provided all Package Bonus conditions outlined above have been met, the $400 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 $50 Bundle Bonus will be deposited to your Eligible Registered Account between June 2, 2025, and January 31, 2026, depending on when you have satisfied all Bundle Bonus conditions. 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 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) Bundle Bonus per customer, 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 Bundle Bonus Offer conditions will be eligible for the Bundle Bonus. If two eligible accounts fulfill on the same day, the 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 accounts, only one (1) $400 Package Bonus will be applied to the primary account holder’s Eligible Chequing Account and only one (1) $50 Bundle Bonus will be applied to the primary account holder’s Eligible Registered 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, except the Scotiabank Registered Account Welcome Offer.
The Scotiabank Registered Account Welcome Offer (the “Offer”) is available between November 1, 2024 and March 1, 2025 (the “Offer Period”) to individuals who open one or more new Eligible Registered Account(s) (defined below) with either The Bank of Nova Scotia or Scotia Securities Inc. and complete certain qualifying transactions.
For the purposes of this Offer, the following Scotia Registered Accounts are “Eligible Registered Account(s)”: Scotia Registered Retirement Savings Plans (RRSPs, excluding locked-in plans such as LIRAs and LRSPs) (each an “Eligible RRSP”), Scotia Tax-Free Savings Accounts (each an “Eligible TFSA”) and Scotia First Home Savings Accounts (each an “Eligible FHSA”). Scotia RRIFs (including locked-in income plans), RESPs, RDSPs, and non-registered Scotia Investment Accounts are not eligible for the Offer. In order to qualify for a Cash Bonus (defined below), the individual cannot currently or in the preceding 6 months have held the same Eligible Registered Account type with either The Bank of Nova Scotia or Scotia Securities Inc. (together, “Scotiabank”).
To qualify for a cash bonus (the “Cash Bonus”):
1) Open one or more new Eligible Registered Account(s) during the Offer Period;
2) By March 1, 2025, contribute or transfer-in a Minimum Qualifying Investment Amount (as defined below) into your new Eligible Registered Account(s) and maintain that Minimum Qualifying Investment Amount until May 31, 2025 to qualify for either of the following Cash Bonuses:
Minimum Qualifying Investment Amount* |
Eligible Registered Account(s) |
Cash Bonus |
$5,000 into any one new Eligible Registered Account |
Any one of the following: an Eligible RRSP, Eligible TFSA or Eligible FHSA |
CAD$150 |
$5,000 each into any two new Eligible Registered Accounts (for a total minimum of $10,000 combined) |
Any two of the following: an Eligible RRSP, Eligible TFSA or Eligible FHSA (Note: two of the same Eligible Registered Account types do not qualify) |
CAD$350 |
*For purposes of calculating the Minimum Qualifying Investment Amount, the book value of the contributions and/or transfers-in will be used to determine eligibility.
3) By March 1, 2025, set up and clear one recurring pre-authorized contribution (PAC) from any Scotiabank personal bank account with a minimum value of at least $100 per month in any of your new Eligible Registered Accounts, which must have recurred for a minimum of three (3) consecutive months by May 31, 2025.
General Terms:
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. The Cash Bonus is not considered a contribution and therefore will not impact contribution limits. 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 Cash Bonus will be paid in Canadian dollars.
The applicable Cash Bonus will be paid into your new Eligible Registered Account on or around September 30, 2025 provided all Offer conditions have been satisfied. Your Eligible Registered Account(s) must be open and in good standing at the time of the Cash Bonus payout. 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 agreements. If multiple Eligible Registered Accounts are opened, you will receive your applicable Cash Bonus into your Eligible Registered Accounts on a pro rata basis as a percentage of the total Qualifying Investment Amount. For example, if you invest $6,000 into an Eligible TFSA and $8,000 into an Eligible FHSA, you will qualify for a Cash Bonus of CAD$350, which will be paid as follows: CAD$150 in the Eligible TFSA and CAD$200 in the Eligible FHSA. If multiple Eligible Registered Accounts of the same type are opened, the Cash Bonus (or the pro rata portion of the Cash Bonus, if applicable) will be paid to the first Eligible Registered Account opened that has met the Offer conditions. For a spousal RRSP, the Cash Bonus will be paid into that plan and not paid to the contributor.
This Offer is non-transferable, non-saleable, may not be exchanged for cash and may not be duplicated. Limit of one (1) Cash Bonus per customer, regardless of the number of Eligible Registered Accounts opened. Offer may be changed, cancelled or extended at any time and cannot be combined with any other offers except as otherwise specified.