Important Notice of Changes

The changes being made relate to:

1. How we Apply your Minimum Payments
2. When we Prepare your Statements
3. How we Calculate Interest

These changes are being made to our ScotiaLine® for business Visa* Credit Card and are related to system enhancements that will allow us to serve your banking needs better now and into the future.

There is no action required on the part of clients due to these changes.

These changes will be automatically applied to ScotiaLine® for business Visa* Credit Card accounts effective on or after your statement dated as of August 17, 2025.

As set out in any of the notices sent to you about our system enhancements, if you do not agree with these changes, you must notify us 30 days after the effective date of these changes.

If you do notify us, we can discuss an alternative product, or we can close your Account (without cost or penalty) and discuss payment options for any outstanding balance on your Account at that time.

The main difference between the two methods is that one (daily balance method) calculates interest on every daily amount you owe us each day in your statement period (also referred to as your billing cycle), while the other method (average daily balance method) calculates interest on the average of the daily amounts you owe us each day in a statement period. Under both methods we do not charge interest on interest.

For the ScotiaLine® for business Visa* Credit Card, there is a 21-day interest-free grace period on new purchases. There is no interest-free grace period on cash advances (including balance transfers and cash-like transactions).

For more information, refer to the Notice of Change.

If any question or concern still remains, please reach out to our Customer Contact Centre at 1-877-552-5522.

The way we are applying your minimum payment is changing to align with system enhancements that will allow us to serve your banking needs better now and into the future. We also took this opportunity to simplify the descriptions of transaction categories within the minimum payment allocation order.

There is no change to how we calculate your minimum payment. The change is only to the way we apply your minimum payment.

For your minimum payment only, please note the amounts with the lowest interest rate(s) are paid first before those with higher interest rate(s).

The way we apply any amount paid above the minimum payment is not changing.

For more information, refer to the Notice of Change.

The minimum payment change should not impact most clients but may depend on the type of transactions on the account as we will now be applying your minimum payment to transactions with lower interest rate(s) first vs. those with higher interest rate(s) transactions.

If any question or concern still remains, please reach out to our Customer Contact Centre at 1-877-552-5522.

No, there will be no impact to pre-authorized payments set up to automatically pay your ScotiaLine® for business Visa* Credit Card account. The pre-authorized payments will continue to be drawn automatically the same as before on the payment due date.

Note: This change should result in a more consistent monthly payment due date.

No, the interest rates are not changing as a result of the Notice of Changes.

As a first course of action, please contact your Bank Representative, visit the Branch or reach out to the Customer Contact Centre at 1-877-552-5522.

Scotiabank is committed to providing accessible information and communication to its clients. We recognize that persons with disabilities may use methods other than standard print to access information. Scotiabank will communicate with individuals with disabilities in ways that account for their disability while remaining accommodating and respectful. Some methods that Scotiabank offers include large print, accessible PDF, and braille.

You can request alternate format documents and communication supports by:

• Calling 1-877-552-5522 and entering your card or account number when prompted (when asked why you’re calling, say “Agent” or press “0”)
• Speaking to your Scotiabank advisor
• Emailing clientaccessibility@scotiabank.com to let us know exactly what you need
• Using the live chat in our app. To access the live chat, please sign in to your Scotia mobile app and select More, then select Contact us, and finally Chat with us

For more information, please visit https://www.scotiabank.com/ca/en/about/accessibility/accessibility-features.html

Scotia SelectPay plan will be added as a feature to and made available on ScotiaLine® for business Visa* Credit Card in the near future. For more information, please visit the Scotia SelectPay information page.

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

Purchases made on your eligible Scotiabank credit card can be converted into a Scotia SelectPay plan after purchase using the Scotia mobile app or Scotia online banking.

For more information on Scotia SelectPay and other FAQs, review scotiabank.com/selectpay.