Tips to reduce fees

We're here to help you save your money.

Change your account Find the right account

Banking fees can add up before you know it, that's why Scotiabank offers simple and convenient ways for you to save even more than you'd expect.

Shop Smart

Use your ScotiaCard^® banking card where you shop to make direct payment purchases. It's safer and more convenient than cash; cheaper and faster than writing a cheque. If you do not already have a ScotiaCard, visit your Scotiabank branch to obtain one.

Find the Right Account

Having the right account that fits your lifestyle is important. To find out which account is best for you try our Help me choose tool. To save on transaction costs you may want to change to the Preferred Package that offers unlimited transactions.

Be Prepared

With overdraft protection, you can avoid the expense and embarrassment of having insufficient funds in your account. All debit transactions (i.e. cheques, pre-authorized payments, etc.) will be honoured up to your pre-set overdraft limit (subject to credit approval).

How to save on bank fees. We've answered the most frequently asked questions when it comes to fees.

Think of your monthly account fee like a maintenance fee. This fee covers the costs associated with maintaining your account and certain perks that come with it. These perks can include free transactions, ABM access, free Interac e-Transfers, free international money transfers, discounts on credit card fees, rewards points, and much more!

Accounts with higher monthly fees come with more perks and benefits. Most times, these monthly fees can be waived with a minimum daily closing balance throughout the month.

A service charge (sometimes referred to as a service fee) is a fee charged to customers for something specific, such as a fee for using an ATM that's not part of Scotiabank, sending money internationally, or receiving a wire transfer. Service charges are usually incurred for transactions not included with your account type or when you exceed the number of transactions that is included with your account. For a list of the full service charges or fees, refer to our account fees at a glance.

Yes, a chequing account is useful for day-to-day transactions, like getting paid from work, paying rent, utilities, groceries, and clothes. Typically, you don't earn much interest on any balances held but you do have certain transactions included. Some people prefer to have separate chequing accounts for separate items. However, you will have to pay monthly account fees on each separate chequing account you have, unless you meet the minimum monthly closing balance for the fee waiver. Some accounts, like the Ultimate Package, even include an additional free Basic Plus Bank Account and Scotia U.S. Dollar Daily Interest Account.

Scotiabank offers a range of options to help reduce your banking fees while making the most of your account.

Here are 3 ways to reduce your fees:

You can get your monthly account fee waived on select chequing accounts if you maintain the minimum daily closing balance or more for that account at the end of each day of the month
To help avoid additional transaction fees, Scotiabank offers unlimited transactions on select chequing accounts
Select savings accounts have features that can help you reduce fees, such as unlimited free transfers to your other Scotiabank accounts