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Scotia SelectPay™
Turn credit card purchases into bite-sized payments.
Convert eligible credit card purchases of $100 or more into fixed monthly installment payments with no interest rate on your plan and a low fee.1
Pay off your credit card purchases with Scotia SelectPay™
Here's why Scotia SelectPay is a new, flexible way to pay off your purchases:
No interest rate on your plan and a low fee1
More control over your budget with fixed monthly payments
More flexible payment options with 3, 6, or 12-month plans available
Set up and manage plans on the Scotia app or Scotia OnLine
Continue to enjoy all your credit card’s benefits, like rewards and insurance coverage
How do I qualify for Scotia SelectPay
You qualify for a Scotia SelectPay plan if1:
- You are the primary cardholder of an eligible Scotiabank credit card (Co-borrower accounts are currently not eligible for SelectPay)
- Your account is in good standing
- You made an eligible purchase of $100 or more with your eligible Scotiabank credit card
- You have a Scotia OnLine or a mobile banking account
- You’re a resident of a province or territory in Canada other than Quebec
Available on select credit cards. No new application or credit check needed.
How it works
Let’s say you bought a $1,200 laptop and converted it into a 3-month SelectPay installment plan with a total fee of 2% and no interest rate on your payment plan. Your monthly SelectPay payment will come down to $408/month. For illustrative purposes only.2
Log in to your Scotia app or Scotia OnLine to find out your SelectPay fee.
| Month | Monthly purchase amount2 | Monthly SelectPay fee2 | Total monthly SelectPay payment2 |
|---|---|---|---|
| 1 | $400.00 | $8.00 | $408.00 |
| 2 | $400.00 | $8.00 | $408.00 |
| 3 | $400.00 | $8.00 | $408.00 |
| Total | $1,200.00 | $24.00 | $1,224.00 |
Start using Scotia SelectPay
1. Download the Scotia app or update it to the latest version
Minimum OS requirements: iOS 10 and Android 5.0
2. Sign in to the app
1. Sign in to Scotia OnLine
At this time, the Scotia SelectPay feature is not available to Quebec residents.
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Registered trademarks of The Bank of Nova Scotia
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Trademark of The Bank of Nova Scotia
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1
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 posted to the Eligible Account to an Installment Plan with monthly payments over a fixed payment (the “Installment Payment Period”) with a fixed interest rate (currently 0% interest rate) during the Installment Payment Period and an Installment Fee that applies to that Plan (the “Installment Fee”). The Installment Fee may vary per Plan and will be disclosed to you at the time you select the Plan.
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. All SelectPay rates, fees and terms are subject to change.
2
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”).
3
This includes your current monthly installment payment plus the minimum payment that would apply to your account without an installment plan (as calculated as described on your disclosure statement). You also need to pay any overdue or past due amount immediately.