Scotiabank New Account Promotions in 2024

If you are in the market for a premium chequing account, you are in luck.

Scotiabank offers new clients who open a Scotiabank Preferred Package or Scotiabank Ultimate Package chequing account up to a $350 cash bonus.

These two accounts also provide access to some of the best credit card promotions for premium cards in Canada.

Read on to learn about the best Scotiabank promotions and other juicy bank promotions that are worth checking out.

Scotiabank $350 Promotional Offer

To qualify for the sign-up bonus, you will need to open an eligible Scotiabank chequing account and complete two of the following three tasks:

• Make an eligible $50 bill payment through online or mobile banking
• Set up at least 2 eligible separate recurring pre-authorized transactions that are $50 or more, which will recur monthly for a minimum of 3 consecutive months
• Set up an eligible recurring deposit that will recur monthly for a minimum of 3 consecutive months

After you have met these conditions, your bonus is deposited into your account within 2 months.

The promotional link to take advantage of this offer is:

• Scotiabank Preferred Package ($350),
• Scotiabank Ultimate Package ($350)

Students who open a Student Advantage Banking Plan account can earn up to a $100 bonus.

Scotiabank Preferred Package Review

The Preferred Package is Scotiabank’s most popular chequing account. It is a great option if you want unlimited transactions without paying the top monthly rate.

It offers:

• Unlimited debit transactions and Interac e-Transfers
• First-year fee rebate on select credit cards (up to $150)
• Earn a high savings rate for a limited time with the MomentumPLUS?Savings Account
• Earn 1 Scene+ point for every $5 you spend on debit purchases
• Cheap International Money Transfer

This account has a $16.95 monthly fee; however, you can waive it completely by maintaining a minimum daily closing balance of $4,000.

Promo Offer: Get $350 when you open a Preferred Package plan.*

Scotiabank Ultimate Package Review

This account is Scotiabank’s premium chequing account. While it has a $30.95 monthly fee, you can waive this fee by maintaining a minimum balance of $5,000 throughout the month. It offers the following perks:

• Unlimited debit transactions and Interac e-Transfers
• Unlimited non-Scotiabank ATM withdrawals worldwide
• Free Scotia International Money Transfers
• Earn an extra 0.10% on your Momentum PLUS Savings account
• Free personalized cheques and drafts
• 10 free equity trades at Scotia iTrade and 5 free equity trades every year after
• Ultimate rates on GICs
• Annual fee rebates on select credit cards (up to $150/year)
• $55 annual fee waiver on a small safety deposit box

Promo Offer: Get a $350 cash bonus when you open an Ultimate Package account.*

* Terms and conditions apply.

The following cards qualify for a fee rebate if you open either a Preferred or Ultimate banking account:

• Scotiabank Gold American Express
• Scotiabank Passport Visa Infinite
• Scotiabank Momentum Visa Infinite
• Scotiabank Value Visa card

Scotiabank Student Banking Advantage Plan Review

This student bank account offers unlimited transactions and Interac e-Transfers to individuals who are enrolled in full-time post-secondary education.

It has no monthly account fee, and you earn Scene+ points on debit purchases. To apply, you must show proof of enrollment at an eligible educational institution.

Promo Offer: Get a $100 bonus when you open a Student Bank Account and complete one of the following:

• Set up a payroll deposit to your account, or
• Set up a minimum of 2 separate recurring pre-authorized transactions for a minimum of $25 per transaction for 3 consecutive months.

Bank Account Promotions in Canada

Some of the other new bank account promotions worth looking at in Canada include offers from big banks, international, and online banks.

Simplii Financial Offer ($400 Bonus)

Get a?$400 bonus?when you open a?Simplii no-fee chequing account?(limited-time offer).

To qualify for the cash reward, you must add a direct deposit of at least $100 for 3 consecutive months. This direct deposit payment can be your paycheck, government benefit, or pension.

The Simplii No-Fee Chequing Account includes unlimited debit transactions and Interac e-Transfers, free cheques, mobile cheque deposits, and you also earn interest on your balance.

Simplii also has a high-interest savings account that is currently paying a 5.90% interest rate.

Apply for the free Simplii Chequing Account or read our detailed review.

This article is a condensed version of the original guide titled "Scotiabank New Account Promotions" written by Enoch Omololu and published on Savvy New Canadians.