Scotia SelectPay^™

Enjoy the flexibility of buying now and paying little by little.
Turn eligible credit card purchases¹ of $100 or more into fixed monthly payments with Scotia SelectPay² during checkout or after purchase.

Flexible. Convenient. That’s the SelectPayway.

Make eligible credit card purchases¹ more manageable. No credit checks needed.

No interest

No interest rate on your
installment plan and a low fee²

Flexible payment options

Choose a 3, 6, or
12-month installment plan³
to suit your budget

Continue to enjoy all your
credit card benefits

Continue to earn and enjoy your credit card benefits like your rewards, cash back, and insurance coverage.

Paying with Scotia SelectPay is easy

Online during checkout

Online during checkout with a participating merchant.

Click checkout and input your eligible Scotiabank Visa* Card details.
Choose a 3, 6, or 12-month plan³ from the list, 'Eligible for installments'. Installment plans are enabled by Visa*.
Review and agree to the Installment Plan Terms and Conditions.
Your receipt will include your installment plan details.
Sign into the Scotia mobile app or Scotia online banking to see your plan status after your transaction in posted (3-5 business days).

Or watch the video to learn more

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Advice+ features

Make the most of your money with the right advice

Buy Now, Pay Later plans (BNPL) and Scotia SelectPay Installment plans

Learn how installment plans on credit cards, like those available from Scotiabank through its SelectPay^TM plans – can help to provide a flexible way to pay for planned and unplanned purchases (during Checkout and after Purchase).

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4 tips to help organize your finances and prepare for the future

How you can better manage your cashflow to get ready for your goals.

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What is a credit card installment plan and how can I make the most of it?

A credit card installment plan is a feature that can help you to pay for purchases on your credit card over a fixed period.

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Scotia SelectPay^TM FAQs

The Scotia SelectPay™ Installment Plan is a credit card feature that allows you to convert your eligible credit card purchases of $100 (CDN$ or more) into fixed monthly installment payments with no interest rate on your plan and a low fee.

Purchases can be converted into an installment plan during checkout (in-store or online) at a participating merchant or after purchase using the Scotia mobile app or Scotia online banking.

(After Purchase - Scotia mobile app or Scotia online banking):

To set up an After Purchase Scotia SelectPay plan:

Select an eligible Scotiabank Visa credit card and tap the Scotia SelectPay icon (on Scotia mobile app) or click the Additional services tab, followed by the Scotia SelectPay (on Scotia online banking)
Click on the Eligible purchases tab
Select an eligible purchase you’d like to convert into an installment plan
Pick a plan (for example, choose 3, 6, or 12 months and review the fee that applies. Note that the term lengths offered may vary by merchant)
Read and agree to the SelectPay - Installment Plan Terms and Conditions; - once you’ve selected an installment plan, you will need to consent to and agree to the Terms and Conditions that apply to SelectPay Installment Plans before the eligible purchase is converted into an installment plan
Slide or click to enroll

Allow 1 to 3 business days for your installment plan to get posted to your account.

Note: The SelectPay Plan feature requires the current version of the Scotia mobile app. You can update the app from the App Store or Google Play or by turning on automatic updates for your device.

a. During Checkout - During an in-store or online checkout with participating merchants

When using your eligible Scotiabank Visa credit card to pay for your purchase with a participating merchant, you can convert your eligible purchase into monthly installment payments by choosing a Scotia SelectPay installment plan from the available options (currently 3, 6, or 12-month plan)
Review and agree to the SelectPay - Installment Plan Terms and Conditions. By accepting the Terms and Conditions for a SelectPay Installment Plan you will provide your consent to proceed with the eligible purchase being converted into an installment plan on your eligible Scotiabank credit card.
Your receipt will include your installment plan details (please also check your statement and eligible Scotiabank credit card account for more details).
Once your transaction is posted to your eligible Scotiabank credit card account (may take 3 to 5 business days after you made your purchase), you can sign into the Scotia mobile app or Scotia online banking to see your plan status and more details.

No, a Scotia SelectPay Installment Plan is a new feature available on eligible Scotiabank credit card accounts (currently consumer Scotiabank Visa credit card accounts, excluding Scotiabank U.S. Dollar Visa cards, Scotiabank GM Visa credit card accounts, No Fee Scotiabank Value^® Visa^* card, No-Fee ScotiaGold^® Visa card, Scotiabank Rewards^® Visa^* card, Scotiabank More Rewards^® Visa^* card, and L'earn^™ Visa^* card). It’s not currently available for Scotiabank American Express, Scotiabank Mastercard credit cards, or small business Scotiabank credit card accounts. It’s also not available for Quebec residents.

Please refer to our FAQs about qualifying for installment plans to learn about eligibility.

An installment plan won’t impact your credit score. When you enroll in an installment plan, Scotiabank will not perform an additional credit check.

Installment plans are based on the original purchase being posted to your eligible Scotiabank credit card account. The amount of that purchase has already reduced your available credit.

Enrolling the eligible purchase into an installment plan does not change your available credit.

However, the monthly installment fee that applies to your installment plan will reduce your available credit each month by the amount of that monthly fee.

Here is how we calculate the monthly installment fee:

The full purchase transaction amount is multiplied by your total fee %
Then, divided by the number of months you select for your Installment Plan

For example:

You recently purchased a $600 laptop and you decide you want to convert the purchase to a 3-month installment plan with a total fee of 2%.

Here’s the breakdown of your Installment Plan payments:

Monthly installment principal amount = $600 / 3 months = $200
Monthly fee amount = $600 X 2% /3= $4
Total monthly installment payment (including fees) = $200 + $4 = $204

Monthly payment	Monthly installment principal amount	Monthly fee amount ($)	Total monthly Installment Payment including monthly fee
1	$200.00	$4	$204.00
2	$200.00	$4	$204.00
3	$200.00	$4	$204.00
Total	$600	$12	$612.00

You can use installment plans for purchases of $100 CAD or more (or another amount we may designate from time to time) and only for new eligible purchases that you choose to convert to an installment plan during the same statement period in which it was posted to your eligible account and before your eligible account’s next statement date.

A purchase will not be eligible for an installment plan if it has not been enrolled in the same statement period in which it appeared.

Only purchases are eligible for installment plans. You cannot convert a balance to an installment plan that’s not a purchase, such as a balance transfer or a cash advance.

There is no maximum purchase amount for which you’re allowed to enroll in an installment plan.

All personal Visa* credit cards are eligible. The following personal credit cards are excluded:

Scotiabank® U.S. Dollar VISA^* card
No-Fee Scotiabank Value^®Visa^* card
Scotiabank More Rewards^®Visa^* card
L'earn^™ Visa^*card
Scotia Momentum^® Mastercard^®* credit card
Scotiabank Gold American Express^®card
Scotiabank Platinum American Express^® card
Scotiabank American Express^® card and
Small Business credit cards

If we don’t receive payment of your minimum installment payment each month by the payment due date on your statement, your installment plan will automatically be cancelled. The outstanding remaining balance on your installment plan will be re-applied to your regular balance on our account. You will still be required to pay the remaining outstanding balance.

If that happens, the remaining outstanding installment balance under your installment plan will incur interest at the annual interest rate that applies to purchases on your account until it is paid in full.

If your Scotiabank credit card earns rewards on purchases, you will earn rewards on the amount of the original purchase that you select to convert to an installment plan, in the same way that you do any other purchase made on your account (for example, points or cash back).

Rewards are not earned on cash advances (including balance transfers, cash-like transactions, or Scotia credit card cheques). Other exclusions apply depending upon your rewards program.

See your rewards program terms and conditions for more information on how you earn rewards on your Scotiabank credit card account.

Visit our Help Centre to learn more

Start using Scotia SelectPay^TM

3 ways to get started

During checkout (in-store or online) with Scotia SelectPay Installment Plan

During checkout you can choose a Scotia SelectPay installment plan for qualifying purchases at participating merchants. Installment plans are enabled by Visa*.

Get started with the Scotia mobile app

1. Download the Scotia mobile app or update it to the latest version

Show more information

Scotia online banking

Start banking now from your computer, smartphone, or tablet.

1. Sign into Scotia online

Show more information

View legal footnotes

®

Registered trademarks of The Bank of Nova Scotia

™

Trademark of The Bank of Nova Scotia

*

Visa Int./Licensed User. trademarks

1

In order to be eligible, the purchase must be for at least $100 in Canadian dollars (including taxes), or such other amount as we may advise you of from time to time (the “Eligible Purchase”). If we identify an Eligible Purchase after it has been posted on your credit card account in a statement period (as shown on your statement), we may make an offer to you to allow you to convert the amount of the Eligible Purchase to an Installment Plan. If you select the Eligible Purchase after it has been posted to your credit card account, you can convert it to an Installment Plan through our Scotiabank Online or Scotiabank mobile banking services. An Eligible Purchase cannot be converted until the date it is posted to your credit card account which may be different from the transaction date.

If we make an offer to you, you can convert Eligible Purchases we identify for you in the statement period in which they are first posted to your credit card account but have not yet appeared on your statement. In that case, you must convert that Eligible Purchase to an Installment Plan during the same statement period in which it was posted to your credit card account and before the credit card account’s next statement date. After that, the Eligible Purchase is no longer eligible for an Installment Plan. Your Plan will appear on your statement once it has been activated and posted to your credit card account.

2

Scotia SelectPay is an installment plan feature (the “Plan” or “Installment Plan” or “SelectPay”) made available on eligible personal Scotiabank Visa credit card accounts (the “Eligible Account(s)”) that allows primary cardholders to convert an eligible credit card purchase of at least CDN$100 (including taxes) posted to the Eligible Account to an Installment Plan with monthly payments over a fixed payment period (the “Installment Payment Period”) with a fixed interest rate (currently 0% interest rate) (the "Installment Rate") during the Installment Payment Period and an Installment Fee that applies to that Plan (the “Installment Fee”). The Installment Rate and Installment Fee may vary per Plan and each will be disclosed to you at the time you select the Plan. All Installment Rates and Installment Fees are subject to change and cannot be combined with any other offer.

Interest does not accrue during the Installment Plan but any unpaid remaining balance on your Installment Plan (the “Remaining Installment Amount Balance”) after the Plan ends or is cancelled by you or us will be re-applied to the balance on your Eligible Account. Your Remaining Installment Amount Balance is again eligible for an interest-free grace period. You will not pay interest on that Remaining Installment Amount Balance if we receive payment of the full balance (the “New Balance”) that appears on your statement in the month in which we re-applied your Remaining Installment Amount Balance to your Eligible Account. If you lose your interest-free grace period on the Remaining Installment Amount Balance, any applicable interest will then apply at the annual interest rate that applies to Purchases on your Eligible Account on that amount from the date of expiration or cancellation of the Installment Plan until the amount is paid in full.

Your Eligibility to convert an Eligible Purchase to an Installment Plan and the terms made available to you are subject to Scotiabank’s assessment at the time you request to convert your Eligible Purchase to a Plan. SelectPay is only available through the Scotia Mobile Banking App and Scotia OnLine to primary cardholders on an Eligible Account (with no co-borrowers).

See the full Terms and Conditions for eligible Scotiabank Visa cards, eligible purchases and additional SelectPay terms and conditions, which are subject to change

3

Other durations may be available to you based on your offer. It will be disclosed to you when you select your plan.

4

For illustrative purposes only. Actual “Monthly SelectPay fee” and “Total monthly SelectPay payment” will vary based on your specific SelectPay plan you have selected, including the applicable fees, interest rate, the actual purchase you convert into a SelectPay plan and the length of the term. In the sample table, the “Monthly purchase amount” is the amount of the $1,200 purchase divided over the 3 month payment period, the Monthly SelectPay fee is the monthly plan fee payable (calculated at a total plan fee of 2% multiplied by $1,200 over 3 months), and the “Total monthly SelectPay payment” is the total monthly amount payable under the plan calculated by adding the “Monthly purchase amount” plus the “Monthly SelectPay fee” (on your monthly credit card statement, this monthly payment amount will appear as your “Current installment payment including monthly fee”)

Scotia SelectPay^™

Flexible. Convenient. That’s the SelectPayway.