Scotiabank is one of the largest banks in Canada, offering a variety of personal accounts for everyday spending. Explore the best Scotiabank chequing account options based on fees and standout features, and compare alternatives to Scotiabank chequing accounts.
Waiver: Monthly fee waived for seniors (60+) and registered disability savings plan (RDSP) beneficiaries.
Transaction fee: 12/month free ($1.25 per transaction after)
Interac e-Transfers: $0 unlimited
ATM fee: $2 per non-Scotiabank ABM (Interac network) withdrawal in Canada, $3 per non-Scotiabank ABM withdrawal (Visa or PLUS network) in Canada and the US, $5 elsewhere
More free monthly transactions than the Scotiabank Basic Bank Account
Fees & features:
Monthly fee: $11.95 per month
Waiver: Monthly fee waived with a daily balance of $3,000+. Seniors 60+ years old get $4.00 off.
Transaction fee: 25/month free ($1.25 per transaction after)
Interac e-Transfers: $0 unlimited
ATM fee: $2 per non-Scotiabank ABM (Interac network) withdrawal in Canada, $3 per non-Scotiabank ABM withdrawal (Visa or PLUS network) in Canada and the US, $5 elsewhere
Annual fee waived on select credit cards up to $150
Unlimited free Scotia international money transfers
Free small safety deposit box (reg. $60 per year)
10 free Scotia iTRADE equity and ETF trades in your first year (5 free trades per year after)
Monthly fee waived for the Scotiabank Basic Plus Bank Account
Fees & features:
Monthly fee: $30.95 per month
Waiver: Monthly fee waived with a daily balance of $6,000+ or $30,000+ with your Scotiabank MomentumPLUS Savings Account balance. Seniors 60+ years old get $7.00 off.
Transaction fee: $0 unlimited
Interac e-Transfers: $0 unlimited
ATM fee: $0 non-Scotiabank ABM withdrawals in Canada and Visa or PLUS ABMs outside Canada
Earn up to $800 with a Scotiabank Ultimate package and an investment plan. Plus, earn up to 5.25% interest for 3 months on your MomentumPLUS Savings Account. Valid until March 1, 2025.
1 free non-Scotiabank ABM withdrawal in Canada per month
Annual fee waived on select credit cards up to $150
Rebate on every second stock or ETF trade with Scotia iTRADE up to 20 free trades in your first year (max 10 free trades per year after)
Monthly fee waived for the Scotia U.S. Dollar Daily Interest Account
Fees & features:
Monthly fee: $16.95 per month
Waiver: Monthly fee waived with a daily balance of $4,000+. Seniors 60+ years old get $4.00 off.
Transaction fee: $0 unlimited
Interac e-Transfers: $0 unlimited
ATM fee: 1 free non-Scotiabank ABM in Canada withdrawal per month ($2 afterwards), $3 per non-Scotiabank ABM withdrawal (Visa or PLUS network) in Canada and the US, $5 elsewhere
Earn up to $800 with a Scotiabank Preferred package and an investment plan. Valid until March 1, 2025. Plus, earn up to 5.20% interest for 3 months on your MomentumPLUS Savings Account.
Rebate on every second stock or ETF trade with Scotia iTRADE up to 20 free trades in your first year (max 10 free trades per year after)
Fees & features:
Monthly fee: $0 per month
Transaction fee: $0 unlimited
Interac e-Transfers: $0 unlimited
ATM fee: $2 per non-Scotiabank ABM (Interac network) withdrawal in Canada, $3 per non-Scotiabank ABM withdrawal (Visa or PLUS network) in Canada and the US, $5 elsewhere
The Scotiabank Student Banking Advantage Plan is available for full-time domestic and international students enrolled in post-secondary institutions in Canada or the US. When you’re no longer a full-time student, this account automatically converts to the Scotiabank Preferred Package.
Earn 0.05% on deposits up to $499.99 and 0.1% on deposits of $500+
Earn Scene+ rewards points on your purchases
$0 paper and paperless statements
Get notified about important account activity with free Scotia InfoAlerts
Fees & features:
Monthly fee: $0 per month (must be 18 years old or younger)
Transaction fee: $0 unlimited
Interac e-Transfers: $0 unlimited
ATM fee: $2 per non-Scotiabank ABM (Interac network) withdrawal in Canada, $3 per non-Scotiabank ABM withdrawal (Visa or PLUS network) in Canada and the US, $5 elsewhere
All Scotia chequing accounts come with the following features:
Mobile cheque deposit. Use your smartphone to scan and digitally deposit cheques into Scotia chequing accounts.
Free credit score. View your TransUnion credit score for free through CreditView, an affiliate of Scotiabank.
Tap and pay. Simply tap your Visa Debit or Interac Flash card(s) to pay for purchases.
Mobile pay. Pay with Apple Pay, Google Pay or Samsung Pay, and store card information on your smartphone.
Scene+ rewards. Earn Scene+ points and use your points for a range of rewards including travel, movies, merchandise and more.
CDIC insured. Scotiabank chequing accounts, savings account, GICs, bank drafts and money orders are covered by the Canada Deposit Insurance Corporation up to $100,000 per customer in the unlikely event the Bank of Nova Scotia fails.
Scotia bank plans are pretty straightforward to set up. Generally, to apply for Scotiabank chequing accounts, you’ll need to meet these eligibility requirements and provide the following information:
Age
To open a Scotia chequing account, you need to be at least the age of majority in your province or territory (18 or 19 years old) unless you’re opening a Scotiabank Getting There Savings Account. Applicants under age 12 will need to apply with a parent. Applicants aged 12 to 15+ can open an account without a parent if they have either their own ID or their parents’ ID.
Residency
Applicants for all Scotiabank account types must be residents of Canada. Students and people who are in Canada for work are also welcomed to apply.
Identification
Scotiabank lets you securely verify your identity online using information from an existing Canadian bank including BMO, CIBC, Desjardins, RBC, Scotiabank and TD. The process takes just a few minutes, and you can see which information is being sent to Scotiabank.
If you’re opening an account in person at a local Scotiabank branch, you can provide ID such as a driver’s license issued in Canada, Canadian passport or Permanent Resident Card. Learn more about acceptable types of identification here.
Required information
The application process for Scotiabank chequing accounts requires the following information:
First and last name
Email and primary phone number
Address
Birth date
Purpose of your account (daily banking, emergency fund etc.)
A password and username (created when you apply)
Occupation
Social Insurance Number (SIN)—optional, but helps verify your identity more accurately
Consent for Scotiabank to verify your identity with a credit bureau. This is required and won’t affect your credit score.
Here are some Scotiabank monthly fees and miscellaneous charges you should be aware of:
Monthly paper statement: $2.25 per month ($2.50 with cheque images). Free with the Scotiabank Basic Bank Account, Scotiabank Student Banking Advantage Plan and Scotiabank Getting There Savings Account.
Overdraft Protection (subject to approval): $5 per month plus interest. No monthly fee with the Scotiabank Ultimate Package.
Withdrawals from non-Scotiabank ATMs: $2 in Canada, $3 in the US, $5 in other countries
Cheque image viewing (past 90 days): $1.50 or free with paperless recordkeeping
Scotiabank NSF fee: $48
Scotiabank International Money Transfers: $1.99
Incoming wire payments: $15 ($1.50 for Pension Payments)
If you spend and transfer money frequently, consider the BMO Premium Plan Chequing Account or BMO Performance Chequing Account. These accounts come with perks like unlimited free transactions, annual fee rebates on select credit cards, waived monthly fees for additional accounts, bonus interest rates on GICs and more.
No, there is no minimum balance to open a Scotiabank chequing account. However, you may need to maintain a minimum monthly balance to have your monthly account fees waived with some types of accounts. Other accounts—like the Scotiabank Student Banking Advantage Plan and Scotiabank Getting There Savings Account—come with zero monthly fees.
If you're 18 years old or younger or a full-time student, you can open a Scotiabank Student Banking Advantage Plan and Scotiabank Getting There Savings Account, which come with zero monthly account fees and unlimited free transactions and transfers. Scotiabank does not offer any other free chequing accounts.
Scene+ is a rewards program jointly owned by Cineplex Entertainment, Scotiabank and Empire Company. Earn points on every purchase, and redeem for groceries, movies, travel, merchandise, dining, entertainment, pharmacy items or to pay down your balance on eligible Scotiabank cards.
Earn extra Scene+ points by shopping at affiliate partners like Sobeys, Cineplex, Apple, Best Buy, Swiss Chalet, Scene+ Travel (powered by Expedia) and more.
Login to your Scotiabank account online, select your chequing account, then select Direct Deposits & Payments. Navigate to Void Cheque. Select View/Print. This will provide you with your account details for direct deposits into your account.
To cancel an Interac e-Transfer with Scotiabank:
Login to Scotia OnLine or Scotiabank Mobile Banking
Go to Transfers > Interac e-Transfer
Click Show pending Interac e-Transfers beneath Continue
Find the Interac e-Transfer you want to stop. Under the "Stop Transfer" column, select the red X.
Choose the account into which your funds will be redeposited
Stacie Hurst is an editor at Finder, specializing in loans, banking, investing and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she has completed FP Canada Institute's Financial Management Course. Before working in the publishing industry, Stacie completed one year of law school in the United States. When not working, she can usually be found watching K-dramas or playing games with her friends and family. See full bio
Your guide to the features, transactions, fees, and pros & cons of the Scotiabank Preferred Package chequing account.
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