We’ve rounded up the latest and best Scotiabank promotions here, so you can easily compare offers and find the best deal for you. Right now, Scotiabank is offering one of the highest cash bonuses we’ve ever seen on the Canadian market—up to $800.
Check out this list of current Scotiabank promotions available below, and compare it with other Canadian bank offerings.
Scotiabank promotions and offers available now
We’ve compiled the latest Scotiabank promotions and offers currently available, so you can easily browse and compare deals.
Scotiabank Preferred Package
★★★★★
Earn up to $800 with a Scotiabank Preferred package and an investment plan. Valid until March 1, 2025. Plus, earn up to 5.35% interest for 3 months on your MomentumPLUS Savings Account.
The monthly account fee will be waived if you have at least $4,000 in your account at all times.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
Highlights
Unlimited debit transactions & Interac e-Transfer transactions One free non-Scotiabank ABM withdrawal per month in Canada First year annual fee waiver (up to $139) on select credit cards Pay just $1.99 for each Scotia International Money Transfer Preferred rates on select GICs Earn Scene+ points and redeem for various rewards
Scotiabank Ultimate Package
★★★★★
Earn up to $800 with a Scotiabank Ultimate package and an investment plan. Plus, earn up to 5.40% interest for 3 months on your MomentumPLUS Savings Account. Valid until March 1, 2025.
Monthly account fee waived if you have at least $5,000 in your account at all times or a combined balance of $30,000 across your Ultimate Package and a MomentumPLUS Savings Account.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
Unlimited debit transactions & Interac e-Transfer transactions Unlimited free Global non-Scotiabank ABM withdrawals (terms apply) Up to $139 annual fee waiver each year on select credit cards No monthly Overdraft Protection fee Special rates on select GICs Earn Scene+ points and redeem for rewards 10 free equity trades at Scotia iTRADE in your first year (approximately $100 value), and 5 free equity trades every year after Free personalized cheques and drafts $60 annual fee waiver (equivalent to a small safety deposit box)
Scotiabank Student Banking Advantage Plan
★★★★★
Earn a welcome cash bonus of up to $100 and 7,500 Scene+ points when you open an account. Apply by February 28, 2025.
You may be eligible to earn three different types of interest on this account. The first is a base rate of 1.00% that you'll earn on all savings plus a package interest rate boost of 0.10% for Ultimate Package holders and a 0.05% rate for Preferred Package holders.
The second is a premium interest rate of up to 0.65%, which is earned when you choose a 90, 180, 270 and/or 360-day premium period. A longer premium period earns a higher premium period interest rate, provided you don't make any withdrawals within the selected period. Premium period interest is calculated daily and paid at the end of the applicable premium period.
The third is a welcome bonus interest rate of 3.65% for 3 months, calculated daily and paid monthly for 90 days (3 months) on your first MomentumPLUS Savings Account.
How does the Scotiabank chequing account promotion work?
With the Scotiabank chequing account promotion, you can earn a cash bonus of up to a $800 by completing three steps by May 31, 2025. This chequing account offer is available when you open either of these chequing accounts by March 1, 2025:
First, you’ll earn $400 by completing any two of the following steps within 60 days of opening your new Scotiabank chequing account:
Set up at least one eligible automated and recurring direct deposit per month, such as payroll or pension, for a minimum of six consecutive months.
Set up a minimum of two separate eligible recurring pre-authorized transactions worth at least $50 each for a minimum of six consecutive months.
Make at least one eligible online bill payment of at least $50 through Scotia OnLine or the Scotiabank mobile app.
Step 2: Earn $50
Next, you can earn another $50 by opening a new eligible RRSP, TFSA or FHSA by March 1, 2025. Then you have to set up a pre-authorized contribution of at least $100 per month from any Scotiabank personal account into your new registered plan for at least three consecutive months by May 31, 2025.
Step 3: Earn up to $350
To earn up to $350 more, you must open a second eligible RRSP, TFSA or FHSA and deposit $5,000 into both registered plans by March 1, 2025. Keep the balances in both plans until May 31, 2025.
If you don’t want to open a second registered plan, you can still earn $150 by depositing $5,000 into the RRSP, TFSA, or FHSA you already opened by March 1, 2025. Keep that balance until May 31, 2025.
How does the Scotiabank savings account promotion work?
You may be eligible to earn three different types of interest on this account. The first is a base rate of 1.00% that you'll earn on all savings plus a package interest rate boost of 0.10% for Ultimate Package holders and a 0.05% rate for Preferred Package holders.
The second is a premium interest rate of up to 0.65%, which is earned when you choose a 90, 180, 270 and/or 360-day premium period. A longer premium period earns a higher premium period interest rate, provided you don't make any withdrawals within the selected period. Premium period interest is calculated daily and paid at the end of the applicable premium period.
The third is a welcome bonus interest rate of 3.65% for 3 months, calculated daily and paid monthly for 90 days (3 months) on your first MomentumPLUS Savings Account.
Eligibility: You can apply for the Preferred Package chequing account through the StartRight program if you're a Canadian resident that has been in Canada for 0-5 years as an international student or foreign worker. Perks: Unlimited no-fee international transfers, access to credit cards with no credit history and 10 free equity trades when you invest a minimum of $1,000 in a new Scotia iTRADE account. Credit card (yes/no): Yes
Unlimited transactions
No monthly fee (conditions apply)
Fee-free international transfers through the Scotiabank StartRight Program
Earn up to $800 with a Scotiabank Preferred package and an investment plan. Valid until March 1, 2025. Plus, earn up to 5.35% interest for 3 months on your MomentumPLUS Savings Account.
Maintain a $4,000 minimum balance to avoid monthly fees after the first year
Min. Age
16
Account Fee
$16.95
Overdraft Fee
$5
ATM Out-of-Network Fee
$2
U.S. ATM Fee
$3
International ATM Fee
$5
Scotiabank promotions vs. other Canadian bank offers on now
Although Scotiabank is offering a very high cash bonus offer, other Canadian banks and credit unions are offering competitive promotions right now. Compare these other promos with Scotiabank offers:
RBC Signature No Limit Banking Account
★★★★★
Get $450 when you open an RBC Signature No Limit Banking Account. Apply by February 10, 2025.
Through RBC's Value Program Rebate, pair this account with other eligible RBC accounts and save up to $11.95 per month. Only pay $10.95/month for this account with 2 other eligible RBC products.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
Highlights
5 free cross-border debits per month ($1.00 each afterwards)
RBC VIP Banking Account
★★★★★
Get $450 when you open an RBC VIP Banking Account. Apply by February 10, 2024.
Through RBC’s Value Program Rebate, pair this account with 2 other eligible RBC accounts and get cashback for some or all of your monthly fees—for example, only pay $19.95/month for this account.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
free cross-border debit transactions, free RBC VIP Style personalized cheques and up to 2 additional Canadian dollar accounts and 1 U.S. dollar account
BMO Performance Chequing Account
★★★★★
Get up to $600 in cash bonuses. Earn $400 when you open a new BMO Performance Chequing Account and $150 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until March 3, 2025. Also earn a 4.75% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
The monthly account fee is waived if you maintain a minimum monthly balance of at least $4,000.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
Highlights
monthly fee is waived for members of the Canadian Defence Community
BMO Premium Plan Chequing Account
★★★★★
Get up to $600 in cash bonuses. Earn $400 when you open a new BMO Premium Plan Chequing Account and $150 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until March 3, 2025. Also earn a 4.75% bonus interest rate when you add a Savings Amplifier Account.
Monthly account fee waived if you keep a balance of at least $6,000 in your account each month.
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
Highlights
free overdraft protection
BMO New to Canada Performance Chequing Account
★★★★★
Earn up to $600 in welcome bonuses. Valid until March 3, 2025. Plus, enjoy no monthly plan fee for one year, and get a $100 Walmart Canada eGift card with the BMO NewStart Program.
Zero monthly fees. Earn interest. Welcome bonus. Free transactions. No minimum balance.
National Bank The Total Chequing Account
Get $150 towards an eligible National Bank credit card you activate after opening a National Bank The Total Chequing Account.
Monthly fee
$28.95
Waiver
The monthly fee on this account is waived if you maintain a balance of $6,000 or higher.
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$0
National Bank Connected Account
Get $30 towards an eligible National Bank credit card you activate after opening a National Bank Connected Account.
Monthly fee
$15.95
Waiver
if you're aged 24–59 and your balance is less than $4,500, a $15.95 monthly fee applies
Interest rate
0%
Transactions
unlimited
Interac e-transfers
$0
Non-network ATM in Canada
$2
BMO Performance Student Chequing Account
★★★★★
Earn a $100 cash bonus and enjoy six months of Domino’s Pizza (worth $95, one pizza per month) when you open a new BMO Student Chequing Account. Valid until February 28, 2025.
Besides offering very competitive sign-up promotions, Scotiabank customers also get access to the Global ATM Alliance with 3,600 ATMs in Canada and 44,000 partner ATMs around the world. Plus, you can use your Scotiabank cards with Apple Pay, Samsung Pay and Google Pay.
The current Scotiabank welcome bonus comes in two parts. The first is a cash bonus of $800 when you open an eligible Scotiabank chequing account and complete certain qualifying actions. The second is an interest rate bonus of up to 5.4% when you open a Scotiabank MomentumPLUS Savings Account and complete select actions.
Scotiabank is offering a competitive offer for students. Earn a welcome cash bonus of up to $100 and 7,500 Scene+ points when you open an account. Apply by February 28, 2025. You can also get access to discounted trading. Get $4.99 commission pricing, a 50% discount from the standard commission pricing. Plus, make 1 trade and get 1 free at Scotia iTRADE. Get 20 free stock or ETF trades on the mobile app in your first year and 10 free trades every year after.
Chelsey Hurst is a publisher at Finder, specializing in banking and investments. She loves empowering people to avoid financial pitfalls and make better decisions with their money. Chelsey has a Bachelor of Science from Redeemer University, a Master of Science from McMaster University, and has won multiple awards for research communication. In her spare time, Chelsey enjoys cooking and taking long walks in nature. See full bio
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Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
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