Scotia Momentum^® for business Visa^* Card

Cash Advances include balance transfers Scotia Credit Card Cheques and cash-like transactions

Offer Description and Conditions: The Introductory 2.99% Balance Transfer Rate Offer (the “Offer”) applies only to new Scotia Momentum for business Visa credit card accounts (“Accounts”) that are opened by January 31, 2024 subject to the conditions below. All other terms and conditions of the Program Terms continue to apply during the Offer period. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.   

Introductory 2.99% Balance Transfer Rate Offer Description and Conditions: This introductory 2.99% Balance Transfer Rate Offer (the “Rate Offer”) applies only to eligible cash advances (including balance transfers and cash-like transactions) (collectively “Cash Advances”) subject to the conditions below. The introductory rate applies if the new Account is opened by January 31, 2024 and will continue for 6 months from date of Account opening (the “Promotional Period”).  

After the Promotional Period, the promotional 2.99% interest rate on any promotional Cash Advances (including any that remain unpaid after the Promotional Period ends) will increase to the preferred interest rate on Cash Advances (currently 22.99%).  There is no balance transfer fee on balances transferred during the Promotional Period.   

This Offer is subject to any available limit for Cash Advances on your Account. This Offer cannot be used for any Scotiabank account including to transfer a balance from another Scotiabank Account, or to make a payment or deposit to another Scotiabank account.

Losing your promotional rate: If we don’t pay receive the minimum payment on your Account by the payment due date on your statement, two times in any consecutive 12-month period, you will lose the benefit of this promotional Rate Offer and the interest rates that apply on any unpaid balance will increase to the standard annual interest rates that apply to your Account (currently 24.99% on purchases and 27.99% on Cash Advances).

How We Apply Payments: In general, if you make a payment that exceeds the minimum payment on your statement, we will apply your payment on a proportionate basis among each group of billed charges on your Account. We group charges based on the interest rate that applies to the group of charges. Your payment cannot be applied to the balance(s) of your choice. See your credit card agreement for more information about how we apply payments to your Account.

Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank small business credit card in the past 2 years, including those that switch from an existing Scotiabank small business credit card, as well as employees of Scotiabank, are not eligible for Offer. Subject to the above exclusions, Scotiabank personal credit cardholders are also eligible for the Offer.

Rates and Fees: The current annual fee is $79 for the primary card and $29 for each additional card (including those issued to co-borrowers and supplementary cardholders). The current preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on Cash Advances. 

All rates, fees, features and benefits are outlined in the Welcome Kit you will receive if approved and are subject to change.

You will earn 3% cash back on the first $50,000 you spend annually at gas stations, restaurants, office supply stores, and on recurring bill payments. 3% cash back applies at merchants which are classified in the Visa Inc. (Visa) network Service Stations (with or without ancillary services) and Automated Fuel Dispensers; Restaurants, Fast Food Restaurants and Bars; Stationery and Office Supply Stores; and Recurring Payments (Merchant Codes: 5541 & 5542; 5812, 5813 & 5814; and 5111 & 5943). Recurring payments are defined as payments made on a monthly or regular basis automatically billed by the merchant to your Scotia Momentum for business Visa card. Recurring payments are typically telecommunication, insurance, membership, subscriptions, etc. purchases. Not all merchants offer recurring payments. (Please check with your merchant to see if they offer recurring payments on Visa cards.) Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by Visa in another manner, in which case this added benefit would not apply. You will earn 1% cash back on purchases made after you have reached the 3% $50,000 annual spend maximum and on all other eligible purchases made with the card.

You will benefit from an interest-free grace period of at least 25 days on new purchases that appear on your statement for the first time if you pay off your balance in full by the payment due date. There is no interest-free grace period for cash advances (including balance transfers, Scotia Credit Card Cheques and cash-like transactions).

For current rates and information on fees and interest cost, call 1-888-882-8958. Interest rates, annual fees and features are subject to change without notice.

Visa SavingsEdge is an automated discount program offered by Visa Canada Corporation ('Visa Canada') to eligible businesses and their authorized cardholders that hold an eligible Visa Business card and whose enrolment in the program is accepted by Visa. Under the program, cardholders can receive discounts from participating merchants each time the cardholder uses an enroled Visa Business card to make qualifying purchases of goods or services pursuant to an active discount offered by the merchant and that transaction is processed or submitted through the Visa payment system. Discounts provided will appear as credits on future credit card statements 8-10 weeks after purchase date. Visa Canada, not Scotiabank, is responsible for the Program. For details, visit www.visasavingsedge.ca. The following Scotiabank VISA Business cards are eligible for this program: Scotia Momentum for business Visa* card, Scotia Gold Passport for business Visa* card, ScotiaLine for business Visa* Card and Scotiabank Visa* Business Card.

You are liable for all charges incurred on your account with any supplementary card issued in connection with the account. When you request Scotiabank to issue a supplementary card, we will also issue renewal and replacement cards for such supplementary card, unless the card is cancelled by you or Scotiabank. A Supplementary Cardholder's signature on or use or retention of the supplementary card issued in his or her name shall evidence your receipt of the agreements relating to the account and your acceptance of their terms.

Under all insurance coverages or services, certain limitations, restrictions and exclusions apply, including a pre-existing condition exclusion for certain benefits. Please see the Certificates of Insurance for full coverage details. Coverages are underwritten by The Manufacturers Life Insurance Company and its wholly owned subsidiary First North American Insurance Company. The Bank of Nova Scotia is not an insurer. All insurance claims must be forwarded to the insurance providers.

Scotia Business Loan Protection is underwritten by The Canada Life Assurance Company under Group Policy #10650 issued to The Bank of Nova Scotia.

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