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Is this Account right for you?

Right for you if you:
- Need a savings account to save U.S. dollars
- Can benefit from up to 2 debit transactions per month included in this account

May not be right for you if you:
- Do not need to save U.S. dollars
- Need an account for everyday banking services in currency other than U.S. dollars
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Basic Plus Bank Account
apply-basic-plus-modal

Special Offer
Earn a $300 welcome bonus with a new Preferred Package or Ultimate Package1.
Plus, pay no monthly account fees for up to a year by setting recurring payments to a new or renewed Scotiabank eligible mortgage2.
Featured products
Ultimate Package
$0* or $30.95/monthly fee
Ideal for customers who: Want a unique banking package with premium perks
Earn a $350 welcome bonus with a new bank account.2
- Earn an additional 0.10% interest on your MomentumPLUS Savings Account7
- Get unlimited debit transactions3, Interac e-Transfer† transactions, and Scotia International Money Transfers±
- Say goodbye to annual fees (up to $150) on select credit cards5
- Be eligible to receive preferred mortgage rates for eligible mortgages set up within a Scotia Total Equity® Plan (STEP)∆
- Earn Scene+TM points on everyday purchases and redeem them for travel, dining, entertainment, and more10
- View 8 more premium perks
*No monthly account fee by maintaining a minimum daily closing balance of $5,000 in your Ultimate Package, or a combined balance of $30,000 across your Ultimate Package and your MomentumPLUS Savings Account.1
Preferred Package
$0* or $16.95/monthly fee
Ideal for customers who: Need the everyday banking features, but also want the perks
Earn a $350 welcome bonus with a new bank account.2
- Earn an additional 0.05% interest on your MomentumPLUS Savings Account14
- Get unlimited debit transactions3, Interac e-Transfers† transactions
- Receive a first-year annual fee waiver (up to $150) for select credit cards12
- Earn Scene+TM points on everyday purchases and redeem them for travel, dining, entertainment, and more10
- Trade 1 Get 1 Free at Scotia iTRADE®24
- View 3 more perks
* No monthly account fee by maintaining a minimum daily closing balance of $4,000 for the entire month.
The bank for everyone
Tailored chequing accounts that fit you and your needs.

New to Canada
Bank with no monthly account fees in the first year21 with the StartRightTM Program.

Seniors
If you’re 60 or older, you’ll save up to $4 on the monthly account fee.

Students
Worry-free banking for student life.

Youth
Start building healthy financial habits early.

The benefits our Scotiabank customers love

Get rewarded with Scene+
From travel and entertainment to shopping and dining, earn Scene+ points on every day purchases using your debit card or eligible credit cards10. Earn more with Scene+.

Personalized advice
Our Scotia advisors are here to help you plan your financial future. With a simple conversation, we’ll get you on track to reach your financial goals, big and small.

Bank your way
Get 24/7 support and customer service, go digital with our fast, secure online and mobile banking, or visit our 4,000+ branches and ABMs across Canada. Bank the way that works for you.

Award-winning banking
Bank with variety of perks. The Ultimate Package has been voted 2022 Best Premium Chequing Account for Bundling by MoneySense.
What you can access with every Scotia account
With the MomentumPLUS Savings Account, you can earn a savings rate of up to 4.25%* for 5 months with:
Regular Interest Rate1 + Premium Period Interest Rate2 + Ultimate or Preferred Interest Rate Boost3 + Welcome Bonus Interest Rate*
Regular Interest1
1.35%
Premium Period Interest2
1.10% | 360 days
1.00% | 270 days
0.90% | 180 days
0.85% | 90 days
Ultimate & Preferred Package Boost
Get the Ultimate Package and earn an additional 0.10% or the Preferred Package to earn an additional 0.05%3
Welcome Bonus Interest 1.70%*
on eligible deposits for 5 months from the date the Account was opened
For Preferred Package* and Ultimate Package** Customers (Interest is shown compounded and paid annually).
Term | Preferred Package Customer | Ultimate Package Customer |
3 years | 4.3500% | 4.4500% |
Term | Customers without Preferred/Ultimate Package |
3 year | 1.80% |
* Find more information about the Preferred Package.
** Find more information about the Ultimate Package.
For Preferred Package* and Ultimate Package** Customers (Interest is shown compounded and paid annually).
Term | Customers without Preferred/Ultimate Package |
2 year | 1.55% |
3 year | 1.80% |
* Find more information about the Preferred Package.
** Find more information about the Ultimate Package.
(Non-Registered:Annual, Semi-Annual Minimum $500 / Monthly Minimum $5,000, RRSPs/RRIFs: Minimum $500)
(Non-Registered: Minimum $5,000, 30 days, RRSPs/RRIFs: Minimum $500, 90 days)
(All plans: Minimum $500, Interest paid at maturity)
(RRSP: Minimum $500, Non-Registered: Minimum $500) Current Annual Interest Rate Paid at Maturity
Scotiabank Equity Powered GICs4
(No longer for sale – April 9th, 2019)
Scotiabank Index Powered GICs5
(No longer for sale – April 9th, 2019)
(Minimum Investment Amount: $5000)
Pour les titulaires d'un forfait Essentiel* ou d'un forfait Ultime** (Les intérêts sont composés et versés annuellement).
Durée |
Client sans forfait Essentiel/ Ultime |
2 ans | 1,55 % |
3 ans | 1,80 % |
* Pour de plus amples renseignements sur le forfait Essentiel, cliquez ici.
** Pour de plus amples renseignements sur le forfait Ultime, cliquez ici.
(CPG non enregistrés, intérêts annuels et semestriels : minimum 500 $; intérêts mensuels : minimum 5 000 $ / RER et FERR : minimum : 500 $)
Ultimate Package offers homeowners more value
Preferred rates on fixed and variable rate, closed mortgages for new purchases, switches, refinances, and renewals on a Scotia Total Equity® Plan (STEP)∆ available through an advisor.

What is the difference between a chequing and savings account
Looking to open a new bank account but not sure if you should opt for a savings or chequing account?

How to open a bank account online
Opening a bank account online has never been easier -- even if you're a first-time customer.

How to budget after a pandemic year
Ready to start spending as you are leaving your home more?
Let’s find your chequing account together
Visit your nearest branch and talk with one of our financial advisors.
Here are some answers to our most popular questions
Registered trademarks of The Bank of Nova Scotia, used under license.
Includes Regular Interest Rate of 1.40% plus a Package Interest Rate Boost of 0.05% for Preferred Package holders, 90-Day Premium Period Interest Rate of 0.85% and a Welcome Bonus Interest Rate of 3.10% for 3 months. Regular Interest plus a Package Interest Rate Boost of 0.05% for Preferred Package holders (or 0.10% for Ultimate Package holders) is calculated daily, paid monthly. Premium Period Interest is earned when you choose a 90, 180, 270 and/or 360-day Premium Period. A longer Premium Period earns a higher Premium Period Interest Rate provided you don’t make any withdrawals within the Premium Period you select. Premium Period Interest is calculated daily, paid at the end of the applicable Premium Period. Welcome Bonus Interest is calculated daily and paid monthly for 90 days (3 months) on your first MomentumPLUS Savings Account opened. Interest rates are per annum and subject to change. Visit the Current Rates Page for more information and current rates.
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.
Value of up to $650 is an annual potential value based on the following benefits and savings with the Ultimate Package as of March 1, 2021:
- $203.40 for unlimited debit transactions, Interac e-transfer transactions and International Money Transfers ($16.95 monthly account fee);
- $143.40 in fee savings for a Basic Plus Account ($11.95 monthly account fee waived);
- $120 annual fee waiver for the primary credit cardholder on select credit cards;
- $65 in fee savings for 100 free personalized cheques;
- $60 annual fee waiver for safety deposit box (equivalent of a free small safety deposit box);
- $50 in fee savings for 5 free equity trades with iTRADE (5 free equity trades per year @ $9.99 / trade);
- $17 in fee savings for use of non-Scotiabank ABMs based on an average of 6 domestic, 1 U.S. and 1 International ABM per year
- $12 in fee savings for a US Daily Interest Saving Account ($1.00 monthly account fee waived);
- $9.50 in fee savings for average of 1 draft per year; and
- $5 in fee savings for average use of 1 overdraft protection
Actual value will depend on individual usage of the Ultimate Package features and products. Conditions apply. All products and features are subject to change.
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.
Terms and Conditions found in Scotiabank International Money Transfer Agreement apply
The Ultimate Package monthly account fee is waived if a minimum daily closing balance of $5,000 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 $5,000 but has a combined minimum daily closing balance of $30,000 across the Ultimate Package account and MomentumPLUS 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) MomentumPLUS 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 MomentumPLUS Savings Account(s) qualify.
$350 Cash Offer for Preferred Package or $350 Cash Offer for Ultimate Package Conditions:
To qualify for the $350 cash offer for Preferred Package or $350 cash offer for Ultimate Package (each an “Offer”, collectively the “Offers), you must:
1. Open a new Ultimate Package or new Preferred Package (each an “Eligible Account”) by October 31, 2023; and
2. Complete any two (2) of the following activities in your Eligible Account within 60 days of Eligible Account opening:
- Make at least one (1) eligible online bill payment† of at least $50 through the Scotiabank Mobile App or through Scotia OnLine, 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 three (3) consecutive months, or
- 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 three (3) consecutive months.
† 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 Offers.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 Offers.
Eligibility and Exclusions: Individuals who are currently holders of a Scotiabank Chequing Account are not eligible for the Offers. Individuals who were previously holders of a Scotiabank Chequing Account within the last two (2) years are not eligible for the Offers. “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. Employees of Scotiabank are also not eligible for the Offers.
General Terms: The $350 cash bonus for Preferred Package or $350 cash bonus for Ultimate Package will be deposited to the Eligible Account within six (6) months from account open date provided all Offer conditions outlined above have been met. The Eligible Account must be open and in good standing until the time of payout of the cash bonus. The Eligible Account is not in "good standing" if: (i)it has a negative balance exceeding the authorized overdraft limit, or (ii)it has been in continuous overdraft for a period of three consecutive months. These Offers are non-transferable and may not be duplicated. Limit of one (1) Offer per customer, regardless of the number of Eligible Accounts opened. If more than one (1) Eligible Account is opened, only the first Eligible Account opened will be eligible for the Offer. For joint accounts, only one (1) cash bonus Offer will be applied to the primary account holder’s Eligible Account. All rates, fees, features and benefits are subject to change. Offers may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Additional fees apply for shared ABM services, cross-border debit transactions and other banking services not included in the chequing account package. Fees may initially be charged for Interac e-Transfer transactions in excess of 99 in a month but will be reversed in the subsequent month. 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 waiver (“Annual Fee Waiver”), each year for as long as you have one eligible Scotiabank Credit Card account (an “Eligible Card”) and the Account. You will receive the Annual Fee Waiver, 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*, Scotia Momentum® Visa Infinite and Scotiabank Value® Visa* credit cards. Eligible Cards are subject to change. Each Account will only receive one Annual Fee Waiver regardless of the number of accountholders on the Account or Eligible Cards opened. The Annual Fee Waiver will be applied to the first annual fee for a primary Card charged on an Eligible Card after the Account Open Date. If there is more than one Eligible Card after the Account Open Date, the Annual Fee Waiver will be applied only to the first annual fee for a primary card that is charged on an Eligible Card after the Account Open Date. All other fees and charges applicable to the Eligible Card continue to apply. Annual Fee Waiver will not be applied if your Account or Eligible Card is not open or is not in good standing and cannot be combined with any other annual fee 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 MomentumPLUS 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.
Scene+ ScotiaCard® debit card: Earn 1 Scene+ point for every $5 you spend on debit purchase transactions and Interac Flash transactions from an eligible account using your Scene+ ScotiaCard debit card. Normal Interac Flash transaction limits apply. Other conditions and limitations apply. Visit www.scotiabank.com/sceneplusrewards for complete details. General information: A card must be connected to a Scene+ membership in order to earn and redeem Scene+ points. Scene+ points accumulated using a card will be updated within 2-3 days. Scene+ points can be redeemed for travel, entertainment, shopping, dining, banking or online at www.sceneplus.ca
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 waiver for the first year only (the “First Year Annual Fee Waiver”) 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 Waiver regardless of the number of accountholders on the Account or Eligible Cards opened. The First Year Annual Fee Waiver will be applied to the first annual fee for a primary card charged on an Eligible Card after the Account Open Date. If there is more than one Eligible Card opened after the Account Open Date, the First Year Annual Fee Waiver will be applied only to the first annual fee for a primary card that is charged on an Eligible Card after the Account Open Date. This First Year Annual Fee Waiver 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 Waiver. All other fees and charges applicable to the Eligible Card continue to apply. First Year Annual Fee Waiver 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 waiver 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 MomentumPLUS 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.
The 1-Year No Monthly Account Fee Offer (the “Offer”) is available to eligible clients who open a new Preferred Package account under the StartRightTM Program (the “Account”). 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. If you are eligible for the Offer, 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. 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.
Subject to approval. A customer must apply for an Overdraft Protection Plan to determine if they qualify.
Includes Regular Interest Rate of 1.50% plus an Interest Rate Boost of 0.10% for Ultimate Package account holders or 0.05% for Preferred Package account holders, 360-Day Premium Period Interest Rate of 1.10% and a Welcome Bonus Interest Rate Offer of 1.70%. Premium Period Interest is earned when you choose a 90, 180, 270 and/or 360-day Premium Period. A longer Premium Period earns a higher Premium Interest Rate. Premium Period Interest is calculated daily, paid at the end of the applicable Premium Period. Bonus Interest is calculated daily at the Bonus Interest Rate of 1.70% for 150 days (5 months) on your first MomentumPLUS Savings Account opened between October 6th 2022 and March 31st, 2023. The Bonus Rate is an annualized rate and interest is calculated daily and paid monthly. Regular Interest is calculated daily, paid monthly. Interest rates are per annum and subject to change. Visit the Current Rates Page for more information.
The Monthly Overdraft Protection Plan has a $5.00 Monthly Overdraft Protection fee that is applied at the end of your statement billing cycle, regardless of the number of overdraft transactions as long as the overdrawn balance is within the overdraft limit. This fee will apply even if your account did not go into overdraft in that month.
The Pay-per-use Overdraft Protection Plan has a $5.00 Per-use Overdraft Protection fee applied on the same day or within two business days every time an overdraft is created or increased in your account. There is no Per-use Overdraft Protection fee if you do not use the overdraft.
Top reasons to choose this account

The higher your balance, the higher your interest rate1

No monthly account fee with a $200 U.S. minimum balance

Competitive foreign exchange rates

Two free teller-assisted transactions per month
legal +A DDED AND LOCKED
Featured products
Ultimate Package
$0* or $30.95/monthly fee
Ideal for customers who: Want a unique banking package with premium perks
Earn a $350 welcome bonus with a new bank account.2
- Earn an additional 0.10% interest on your MomentumPLUS Savings Account7
- Get unlimited debit transactions3, Interac e-Transfer† transactions, and Scotia International Money Transfers±
- Say goodbye to annual fees (up to $150) on select credit cards5
- Be eligible to receive preferred mortgage rates for eligible mortgages set up within a Scotia Total Equity® Plan (STEP)∆
- Earn Scene+TM points on everyday purchases and redeem them for travel, dining, entertainment, and more10
- View 8 more premium perks
*No monthly account fee by maintaining a minimum daily closing balance of $5,000 in your Ultimate Package, or a combined balance of $30,000 across your Ultimate Package and your MomentumPLUS Savings Account.1
Preferred Package
$0* or $16.95/monthly fee
Ideal for customers who: Need the everyday banking features, but also want the perks
Earn a $350 welcome bonus with a new bank account.2
- Earn an additional 0.05% interest on your MomentumPLUS Savings Account14
- Get unlimited debit transactions3, Interac e-Transfers† transactions
- Receive a first-year annual fee waiver (up to $150) for select credit cards12
- Earn Scene+TM points on everyday purchases and redeem them for travel, dining, entertainment, and more10
- Trade 1 Get 1 Free at Scotia iTRADE®24
- View 3 more perks
* No monthly account fee by maintaining a minimum daily closing balance of $4,000 for the entire month.
Ultimate Package
$0* or $30.95/monthly fee
Ideal for customers who: Want a unique banking package with premium perks
Earn a $350 welcome bonus with a new bank account.2
- Earn an additional 0.10% interest on your MomentumPLUS Savings Account7
- Get unlimited debit transactions3, Interac e-Transfer† transactions, and Scotia International Money Transfers±
- Say goodbye to annual fees (up to $150) on select credit cards5
- Be eligible to receive preferred mortgage rates for eligible mortgages set up within a Scotia Total Equity® Plan (STEP)∆
- Earn Scene+TM points on everyday purchases and redeem them for travel, dining, entertainment, and more10
- View 8 more premium perks
*No monthly account fee by maintaining a minimum daily closing balance of $5,000 in your Ultimate Package, or a combined balance of $30,000 across your Ultimate Package and your MomentumPLUS Savings Account.1
Preferred Package
$0* or $16.95/monthly fee
Ideal for customers who: Need the everyday banking features, but also want the perks
Earn a $350 welcome bonus with a new bank account.2
- Earn an additional 0.05% interest on your MomentumPLUS Savings Account14
- Get unlimited debit transactions3, Interac e-Transfers† transactions
- Receive a first-year annual fee waiver (up to $150) for select credit cards12
- Earn Scene+TM points on everyday purchases and redeem them for travel, dining, entertainment, and more10
- Trade 1 Get 1 Free at Scotia iTRADE®24
- View 3 more perks
* No monthly account fee by maintaining a minimum daily closing balance of $4,000 for the entire month.

Account benefits
-
Unlimited debit transactions3
-
Unlimited no-fee♢ Scotia International Money Transfers±
-
Unlimited Interac e-Transfer† transactions
-
No Overdraft Protection fee4
-
No monthly account fee on a Basic Plus Bank Account16 (save up to $143 annually)

Grow your money
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Earn an additional 0.10% interest on your MomentumPLUS Savings Account7
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Ultimate rates on select GICs8
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No monthly account fee on a Scotia® U.S. Dollar Daily Interest Account19
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10 free equity trades at Scotia iTRADE in your first year (approximately $100 value) and 5 free equity trades every year after9
Tools and calculators
Our interactive tools can help with RRSP decision-making, retirement income planning, budgeting, and choosing appropriate investments and more.

Retirement Savings Calculator
Find out how well your current savings and future contributions can provide for your retirement and learn how to address potential shortfalls.

TFSA Calculator
Compare future taxable investments versus investments in a TFSA, to see potential tax saving

Money Finder
See where your money goes to help control your spending.
The bank for everyone

New to Canada
Bank with no monthly account fees in the first year21 with the StartRightTM Program.

Seniors
If you’re 60 or older, you’ll save up to $4 on the monthly account fee.

Students
Worry-free banking for student life.

Youth
Start building healthy financial habits early.

All your family’s banking needs, in one package
The Ultimate Package for Families. Manage all your finances with one banking solution, made to fit your family.

Ultimate Package offers homeowners more value
Preferred rates on fixed and variable rate, closed mortgages for new purchases, switches, refinances and renewals on a Scotia Total Equity® Plan (STEP) available through an advisor.∆

Special Offer for new Scotiabank eligible mortgage
Earn a $300 welcome bonus with a new Preferred Package or Ultimate Package. Plus, pay no monthly account fees for up to a year by setting recurring payments to a new Scotiabank eligible mortgage

A word of advice
Don’t settle for one-size-fits-all, cookie cutter, "trust us we know it all" advice. Get advice that’s tailored to you with ScotiaAdvice+.
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Apply online or in person

Online
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In person
Talk to a Scotiabank advisor.

Savings Accelerator Account
Earn 1.30%† interest rate on your money as it grows in your RRSP or TFSA

Top benefits
- Available to add on to any non-registered or registered plan
- No monthly fees
- The higher your balance, the higher your interest rate

Tax-Free Savings Accounts (TFSA)
A TFSA is a great way to save for both short and long-term goals, with the flexibility to withdraw your money at any time without penalty.1

Registered Retirement Savings Plans (RRSP)
An RRSP is a powerful tool to help grow your retirement savings and lower the income tax you pay.
The benefits our Scotiabank customers love

Get rewarded with Scene+
From travel and entertainment to shopping and dining, earn Scene+ points on every day purchases using your debit card or eligible credit cards. Earn more with Scene+

Personalized advice
Our Scotia advisors are here to help you plan your financial future. With a simple conversation, we’ll get you on track to reach your financial goals, big and small.

Bank your way
Get 24/7 support and customer service, go digital with our fast, secure online and mobile banking, or visit our 4,000+ branches and ABMs across Canada. Bank the way that works for you.

Award-winning banking
Bank with a variety of perks, the Ultimate Package is voted 2022 best premium chequing account for bundling by MoneySense.
What you can access with every Scotia account

What is the difference between a chequing and savings account
Looking to open a new bank account but not sure if you should opt for a savings or chequing account?

How to open a bank account online
Opening a bank account online has never been easier -- even if you're a first-time customer.

Tips to protect yourself against e-commerce scams
Here's a list of common e-commerce scams that you should be aware of, and what to do to protect yourself from becoming a victim.
Here are some answers to our most popular questions
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Want to apply for the Ultimate Package and earn your $300 welcome bonus?

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