Banking solutions for retired physicians

All banking and credit products and services are offered by The Bank of Nova Scotia (“Scotiabank”) unless otherwise noted. Credit and lending products are subject to credit approval by Scotiabank. Terms and conditions apply to all reward programs and benefits and should be reviewed carefully before applying. All offers, rates, fees, features, reward programs and benefits and related terms and conditions are subject to change. Visit scotiabank.com or speak with your MD Advisor or a Scotiabank representative for full details

® Registered trademarks of The Bank of Nova Scotia.

™ Trademark of The Bank of Nova Scotia.

American Express is a registered trademark of American Express. The Scotiabank Gold American Express® credit card program is issued and administered by The Bank of Nova Scotia under license from American Express

* Visa Int./ Licensed User.

† Interac e-Transfer is a registered trade-mark of Interac Corp. Used under license.

MD Financial Management includes MD Financial Management Inc., MD Management Limited, MD Private Trust Company, MD Life Insurance Company and MD Insurance Agency Limited.

MD Financial Management provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. For a detailed list of these companies, visit md.ca.

To be eligible for the Physician Banking Program benefits you must be a Canadian resident that meet one of the following conditions: 

• Enrolled in a Canadian university medical degree program 

• Has been accepted or is completing a medical residency in Canada 

• Medical fellow who is completing a Canadian fellowship granted by the Royal College of Physicians and Surgeons of Canada

• Physician with a medical doctorate (MD) and licensed to practice medicine in a Canadian province or territory

• Retired physician with a medical doctorate (MD) and has practiced medicine in a Canadian province or territory  

The annual interest rate will vary with Scotiabank Prime and, where applicable, the adjustment factor. Scotiabank Prime is the prime lending rate of Scotiabank published from time to time and is subject to change. We may also change the adjustment factor with prior notice. You can find the current Scotiabank Prime lending rate at https://www.scotiabank.com/ca/en/personal/rates-prices.html or by contacting Scotiabank 1(800) 4SCOTIA (1-800-472-6842)

Eligibility and Exclusions: Individuals who are currently holders of a Scotiabank Chequing Account are not eligible for the $350 or $300 cash offers (each an “Offer”, collectively the “Offers”). Individuals who were previously holders of a Scotiabank Chequing Account within the last two (2) years are not eligible for the $350 or $300 cash offers.

“Scotiabank Chequing Account” means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan.

Employees of Scotiabank are not eligible for the Offers.

Offer Description and Conditions: To qualify for the Offers, you must:
1) Open a new Ultimate Package (eligible for the $350 Offer) or new Preferred Package (eligible for the $300 Offer), each an “Eligible Account”, by December 30, 2019; and
2) Complete two (2) of the following three (3) activities in your Eligible Account within 60 days of opening:
• Set up an eligible recurring direct deposit (e.g., employer payroll, pension provider, or government) which will recur monthly for a minimum of three (3) consecutive months, or
• Set up a minimum of two (2) eligible separate recurring pre-authorized transactions (e.g., utility payments, property taxes, loan/mortgage payments) with a minimum value of at least $50 per transaction which will each recur monthly for a minimum of three (3) consecutive months, or
• Make at least one eligible online bill payment (e.g. utility bill, hydro bill, credit card payment, cable) of at least $50 through the Scotiabank Mobile App or through Scotia OnLine.

Scotiabank reserves the right to determine whether a specific recurring direct deposit, pre-authorized transaction or bill payment is eligible for the Offers.

The $350 or $300 cash bonus, as applicable, will be paid into the primary account holder’s Eligible Account within two (2) months following the satisfaction of the conditions outlined above. The Eligible Account must be open and in good standing until the time of payout of the cash bonus. The Eligible Account is not in "good standing" if:
1) It has a negative balance exceeding the authorized overdraft limit, or
2) If it has been in continuous overdraft for a period of three (3) consecutive months.

These Offers are non-transferable and may not be duplicated. Limit of one (1) Offer per customer, regardless of the number of Eligible Accounts opened. If more than one (1) Eligible Account is opened, the Offer awarded will be based on the first Eligible Account opened. For joint accounts, only one (1) cash bonus will be applied to the primary account holder’s Eligible Account. All rates, fees, features and benefits are subject to change. Offers may be changed, cancelled or extended at any time and cannot be combined with any other offers.

The Preferred Package account includes 1 free non-Scotiabank Interac⁺ ABM withdrawal within Canada per month. Access fee for each subsequent withdrawal at non-Scotiabank Interac⁺ ABMs will be charged $1.50 per withdrawal. Each cash withdrawal from non-Scotiabank Visa* or PLUS* ABMs will be charged $3.00 in Canada and the U.S. and $5.00 outside of Canada and the U.S. Account holders may still be charged a convenience fee by the other bank and ABM operator, not by Scotiabank.

Scene®* ScotiaCard® debit card: Earn 1 SCENE point for every $5 you spend on debit purchase transactions including Interac Flash and Visa Debit transactions from an eligible account using your Scene®* ScotiaCard® debit card. Other conditions and limitations apply. Visit www.scotiabank.com/scene for complete details.

General information: A card must be connected to a SCENE membership in order to earn and redeem SCENE points. SCENE points accumulated using a card will be updated within 2-3 days. SCENE points can only be redeemed at participating Cineplex Entertainment theatres, online at www.scene.ca for other points offers (or rewards).

Passport ScotiaCard® debit card: Earn 1 Scotia Reward Point for every $5 you spend on debit purchase transactions including Interac Flash and Visa Debit transactions from an eligible account using your Passport ScotiaCard® debit card. Other conditions and limitation apply. Visit scotiarewards.com for complete details.

The primary account holder of the Preferred Package qualifies for a monthly fee waiver on a Scotia® U.S. Dollar Daily Interest Account. The primary account holder on the Preferred Package account can be either the primary or joint account holder on the Scotia® U.S. Dollar Daily Interest Account to qualify. If the primary account holder of the Preferred Package had a Scotia U.S. Dollar Daily Interest Account prior to activating a Preferred Package the fee waiver will apply to the bill cycle following the activation of the Preferred Package. Limit of one (1) Scotia® U.S. Dollar Daily Interest Account per Preferred Package account. Both accounts must be in good standing.

How to earn up to 45,000 bonus Scotia Reward points in your first year: Open a new Scotiabank Passport Visa Infinite credit card account (“Account”) and get an exclusive welcome bonus of 10,000 Scotia Reward points upon activation (the “Welcome Bonus”). Plus, if you open the Account by October 31, 2019 you can earn a 25,000 Scotia Reward point bonus with your first $1,000 in everyday eligible purchases if made within the first 3 months (the “Bonus Offer”). And as a Scotiabank Passport Visa Infinite credit cardholder you can earn an annual Scotia Rewards point bonus (the “Annual Bonus”) starting at 10,000 points when you spend at least $40,000 in everyday eligible purchases annually on your Account. See below for complete terms and conditions. 

The current annual fee for the Account is $139 for the primary card, $0 for one supplementary card and $50 for each additional supplementary card. The current preferred annual interest rates for this Account are: 19.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions). All rates, fees, features and benefits are subject to change. 

To be eligible for the 10,000 Welcome Bonus, your new Account must be activated within 60 days of your Account open date. The 10,000 bonus points will appear as a points adjustment on the Primary cardholder’s Scotia Rewards Account statement within 2 statement cycles of your first card purchase provided the Account is open and in good standing. 

To be eligible for the 25,000 Bonus Offer, you must have at least $1,000 in eligible purchases posted to your new Account in the first 3 months from the Account open date. Any bonus points received under the Bonus Offer will be credited to the primary cardholder’s Scotia Rewards account within 5 to 10 business days after the first 3 months has passed, provided the Account is open and in good standing at time of payout. Bonus Offer applies to new Accounts only opened by October 31, 2019. 

To be eligible for the Annual Bonus, you must make at least $40,000 in eligible purchases annually on your Account in a year (12-months). Annual period starts from the Account open date. The 10,000 bonus points will be applied within two statement cycles after you have met the $40,000 annual spend threshold on the Account or within two statement cycles after you have met each additional $10,000 annual spend threshold on the Account, provided your Account is open and in good standing. 

For both the Welcome Bonus and Bonus Offer, individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail credit card, as well as employees of Scotiabank, are not eligible. Subject to the above exclusions, Scotiabank small business credit cardholders are eligible. Eligible purchases for the Bonus Offer and Annual Bonus  include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges. For all offers, an Account is considered in good standing if it is not delinquent (past due) or over limit and the Cardholders(s) is not in breach of the Revolving Credit Agreement that applies to the Account. All offers and bonuses may be changed, canceled or extended and cannot be combined with any other offers except as otherwise specified.

For both the Welcome Bonus and Bonus Offer, individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail credit card, as well as employees of Scotiabank, are not eligible. Subject to the above exclusions, Scotiabank small business credit cardholders are eligible. Eligible purchases for the Bonus Offer and Annual Bonus  include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges. For all offers, an Account is considered in good standing if it is not delinquent (past due) or over limit and the Cardholders(s) is not in breach of the Revolving Credit Agreement that applies to the Account. All offers and bonuses may be changed, canceled or extended and cannot be combined with any other offers except as otherwise specified.

You will earn 2 points per $1 on the first $50,000 in purchases made on your Scotiabank Passport Visa Infinite account (the “Account”) annually at the following: purchases made at merchants classified in the Visa credit card network as: Grocery Stores and Supermarkets; Eating Places and Restaurants, Drinking Places, Fast Food Restaurants; Entertainment including Motion Picture Theaters, Theatrical Producers, Ticket Agencies, Bands, Orchestras, Miscellaneous Entertainers; Railroads, Local and Suburban Commuter Passenger Transportation, including Ferries, Passenger Railways, Taxicabs and Limousines, Bus Lines, Transportation Services (Not Elsewhere Classified). Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by the credit card network in another manner, in which case this added benefit would not apply.   The annual spend calculation for the $50,000 maximum threshold is calculated annually from January 1st to December 31st each year.

You will earn 1 point per $1 on purchases made on the Account after the 2 points per $1 / $50,000 annual spend maximum is reached and on all other purchases made on the Account.

Scotia Rewards points are only awarded on purchases.  Scotia Rewards points are not awarded for cash advances (including  balance transfers, Scotia® Credit Card Cheques and cash-like transactions), returns, refunds or other similar credits, card payments, fees, interest charges or other charges.  Scotia Rewards points must be redeemed within 60 days of Account closure or they will be deleted permanently. If your Account is not in good standing, the accumulated Scotia Rewards points are not eligible for redemption. See the Scotia Rewards program terms at www.scotiarewards.com for more information.

Priority Pass™ membership is for the Primary Cardmember on the Scotiabank Passport Visa Infinite Business account. It includes access to airport lounges participating in the Priority Pass program. Certain terms, conditions and exclusions apply. Unless cancelled, Priority Pass membership automatically renews on its anniversary date. Priority Pass membership will be cancelled if your Scotiabank Passport Visa Infinite Business Card is cancelled. Lounge visits are counted on a per person per visit basis (e.g. Lounge access by a Cardmember and one accompanying guest will count as two (2) visits). The first 6 lounge visits for the primary Cardmember per 12-month cycle from date of enrolment are complimentary. Beginning with the 7th visit for the primary Cardmember, lounge visits are subject to a per person per visit charge of $27 USD (this per visit fee is subject to change by Priority Pass). For complete Priority Pass terms and conditions, please visit www.prioritypass.com/Conditions-of-use.cfm. Priority Pass membership and services are provided by a third party and offered through Visa Canada. The Bank of Nova Scotia and their affiliates are not responsible for Priority Pass membership and services.

Scotiabank will not charge you Foreign Transaction Fees on foreign currency transactions, only the exchange rate applies. The term “Foreign Transaction Fees” is a substitute for “Foreign Currency Conversion” as described in the application disclosure statement for your new Card. This fee relates to the 2.5% mark-up that is typically charged by credit card issuers in addition to the exchange rate. See the Foreign Currency Conversion section of the Application Disclosure Statement for this Card for full details.

Scotiabank is not an insurer. All claims for insurance indemnities must be forwarded to the insurers. Complete details of the coverage are in the Certificate of Insurance and Terms and Conditions provided with the new Card.

† For a limited time, open a new Scotiabank Gold American Express credit card account (the “Account”) and earn a one-time 25,000 Scotia Reward point bonus with your first $1,000 in eligible everyday purchases made within the first 3 months from the Account open date.  Plus, earn an additional one-time 5,000 Scotia Rewards point bonus when you spend at least $10,000 in eligible everyday purchases in your first year (12-months). Each bonus offer is referred to as a “Bonus Offer” or collectively the “Bonus Offers”. Bonus Offers apply to new Accounts opened by December 30, 2019. 

Bonus Offer Eligibility and Exclusions: 

The following individuals are not eligible for the Bonus Offers: 

• Current primary or secondary cardholders of a Scotiabank retail credit card, including those that switch from an existing Scotiabank retail credit card 

• Previous primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years 

• Employees of Scotiabank

Subject to the above exclusions, Scotiabank small business credit card holders are eligible for the Bonus Offers. 

Bonus Offers may be changed, cancelled or extended at any time and cannot be combined with any other offers except as otherwise permitted.

Bonus Offer Conditions: 

To be eligible for the 25,000 bonus Scotia Rewards points Bonus Offer  you must: 

• Have at least $1,000 in eligible purchases posted to your new Account in the first 3 months from the Account open date. 

• Bonus Scotia Reward points will be credited to the primary cardholder’s Scotia Rewards account within 5 to 10 business days after the first 3 months has passed, provided the Account is open and in good standing at time of payout. 

To be eligible for the 5,000 bonus Scotia Rewards points Bonus Offer you must: 

• Have at least $10,000 in eligible purchases in your first year (12-months) on the Account (annual period starts from the Account open date). 

• Bonus Scotia Rewards points will be credited to the primary cardholder’s Scotia Rewards account within two statement cycles after meeting the $10,000 annual spend on the Account, provided the Account is open and in good standing at the time of payout. 

“Eligible purchases” include purchases (less any refunds, returns or other similar credits) and do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges. The Account is considered in good standing if it is not delinquent (past due) or over limit and the cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account.  

You will earn the accelerated Scotia Rewards points (5X or 3X as applicable) under the Scotia Rewards Program (the “Program”) if you make purchases in Canadian currency only. For purchases  that are made in foreign currency, you will only earn 1 Scotia Rewards point for every $1 charged to the Scotia American Express credit card a (the “Account”) once that foreign currency has been converted into Canadian dollars.

Scotia Rewards points are awarded for purchases charged to Account. Scotia Rewards points earn rate: The first accelerated earn rate is 5 Scotia Reward points (as applicable) per $1 charged to the Account for purchases in Canadian currency at merchant locations classified as Groceries, Dining and Entertainment. The second accelerated earn rate is 3 Scotia Reward points (as applicable) per $1 charged to the Account for purchases in Canadian currency at merchant locations classified as Gas, Daily Transit and Select Streaming Services. The regular earn rate is 1 Scotia Reward point per $1 for all other purchases charged to the account. Merchants qualifying for the accelerated earn rate: The accelerated earn rates applies to purchases made at American  Express merchants in the Grocery Stores and Supermarkets (Merchant Code: 5411), Dining including Eating Places and Restaurants, Drinking Places, and Fast Food Restaurants, and Delivery of Food as a primary business. (Merchant Code: 5812, 5813, 5814, 5824, 5967 and 7311). Entertainment including Motion Picture Theaters, Theatrical Producers and Ticket Agencies, Bands, Orchestras and Miscellaneous Entertainers (Merchant Code: 7832, 7922, 7929) and 3x points for Gas including Gas Service Stations (with or without Ancillary Services) and Automated Fuel Dispensers (Merchant Code: 5541 and 5542). Daily Transit including Local and Suburban Commuter Passenger Transportation, including Ferries, Passenger Railways, Taxicabs and Limousines, Bus Lines, Transportation Services (Not elsewhere Classified) (Merchant Code: 4121, 4111, 4112, 4131, 4784, 4789). Select Streaming Services including (4899, 5967, 5969, 7399) and whose primary business and related services as identified by Scotiabank are eligible streaming services (excluding gaming). Eligible streaming service merchants are subject to change. Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by American Express in another manner, in which case this added benefit would not apply. Spend threshold for the accelerated earn rate: The first and second accelerated earn rate applies to the first $50,000 in purchases annually on the Account, at merchants qualifying for the accelerated earn rate, which will be calculated from January 1st to December 31st each year. Once you exceed this threshold, you will continue earning points at the regular earn rate of 1 point per $1 in purchases. Eligibility: Cash advances (including Balance Transfers, Scotia Credit Card Cheques and Cash-Like Transactions), interest, fees or other charges, card payments and returns, refunds or other similar credits do not earn Scotia Rewards points. Scotia Rewards points will not be posted to an Account that is not in good standing when purchases are made or when a statement is issued, or to an Account that is not open when the statement is issued.

We will not charge you Foreign Transaction Fees on foreign currency transactions, including purchases, only the exchange rate applies. The term “Foreign Transaction Fees” is a substitute for “Foreign Currency onversion” as described in the Disclosure Statement you received with your Card. This fee relates to the mark-up that is typically charged by credit card issuers in addition to the exchange rate. See the Foreign Currency Conversion section of the Disclosure Statement for this Card for full details. Rates and fees are subject to change.

All mortgages are subject to meeting Scotiabank’s standard credit criteria, residential mortgage standards and permitted loan amounts.  Some conditions apply.  The offers can be changed or withdrawn at any time without notice. 

You may be required to repay cashback if your mortgage is paid out, assumed, transferred or renewed before maturity.  

The Miss-a-Payment and Match-a-Payment options are not available during the interest-only portion of any progress draw construction mortgage and may not be available depending on the mortgage solution you select.