Personal Finance

questions about Scotiabank accounts

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  • May 18th, 2019 9:44 am
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Penalty Box
Dec 27, 2013
8003 posts
3946 upvotes
Toronto
brobinsoncc wrote:
Apr 26th, 2014 11:51 pm
I actually got this last card last week as well. I can pay it off online, but when I use the scotia app, my card doesn't show up when I select transfer funds. My other visa does so I might have to call. It shows up and I can check my balance and statement and cash back rewards, but I just can't transfer to and from.


Anyone have any ideas?
Yea this is common you need to call the 1800 number and they will link it.
Sr. Member
Aug 16, 2010
502 posts
85 upvotes
Thornhill
daivey wrote:
Apr 27th, 2014 12:36 pm
You're wrong and have no clue what you're talking about.
A bit harsh, don't you think?

I have paid my Scotia Visa via my Scotia checking account in the past, and I did not see the payment appear until 3 days later. Admittedly I did not check at the time if my credit limit had immediately increased.

I do stand corrected.
[OP]
Newbie
Jun 22, 2011
98 posts
14 upvotes
Thanks for all the responses. I guess what I want to do isn't possible, so I'll have to deal with the limbo for now.
I guess I'll just keep paying off balance at the end of the week.
Sr. Member
Aug 14, 2013
548 posts
49 upvotes
Montreal, QC
Scotia checking account to cc, transfer is not immediate, it takes one business day. However, your cc limit is restored immediately by the amount of transfer that you made from the checking account.
Newbie
Apr 2, 2013
55 posts
17 upvotes
Fredericton
MattyMattMatt, you can open a money master account (no monthly fee) and then if you go to the transfers section and transfer from that account to the visa you won't be charged for the payment and it will make the credit immediately available to use. Make sure you DO NOT go under pay bills to do this otherwise there will be a fee.
Banned
Nov 27, 2006
2200 posts
442 upvotes
Toronto
no bank offers INSTANT payment to the credit card. It takes 1 day to see the payment on the bill through online banking when you do a TRANSFER. makes no difference who you are with.
Member
User avatar
May 17, 2009
234 posts
16 upvotes
Hmm, I get same day transfers from my Scotia account to my Infinite Visa when completed manually (i.e. debit from bank account and credit to card account occurs on the same day).

I recently set up pre-authorized debit transactions, and I would expect the same transfer rate.

EDIT: This is perhaps because of the time of day I make payments, and seemingly 1 business day is the norm.
Sr. Member
Dec 26, 2013
668 posts
58 upvotes
sirex wrote:
Apr 27th, 2014 3:57 pm
no bank offers INSTANT payment to the credit card. It takes 1 day to see the payment on the bill through online banking when you do a TRANSFER. makes no difference who you are with.
That's not true. I can pay my RBC card and see the payment instantly on the credit card in my online banking when I do a transfer. The payment isn't posted but it shows up right away in the list of transactions not yet posted and the available limit changes instantly. If I needed to, I could pay it via transfer and use the money right away. Others have said the same for their Scotia accounts. Not sure how you don't think that is a payment.
Newbie
May 6, 2008
79 posts
20 upvotes
Toronto
no free accounts unless you're a youth, student, or senior*
(senior is a special case since you pay, but get rebates back)

if you pay the card online within scotiaonline (as a transfer) the credit is available within a few minutes ... if its a bill payment from another bank it takes a few days
MattyMattMatt wrote:
Apr 26th, 2014 11:13 pm
Hi,

So I got the Scotia infinite visa. Is there a free account I can get from them to make paying the faster? With my rbc visa i can transfer into the account. I was hoping there was an account I could send email transfer to and then move it to the visa. So it's closer to instant rather than three business days. I get paid Friday, so it's annoying to wait until Wednesday or Thursday.

So no monthly charge and free email transfers into account.
Banned
Nov 27, 2006
2200 posts
442 upvotes
Toronto
Mindfulmonkey wrote:
Apr 27th, 2014 9:32 pm
That's not true. I can pay my RBC card and see the payment instantly on the credit card in my online banking when I do a transfer. The payment isn't posted but it shows up right away in the list of transactions not yet posted and the available limit changes instantly. If I needed to, I could pay it via transfer and use the money right away. Others have said the same for their Scotia accounts. Not sure how you don't think that is a payment.
There was a thread about rbc being the first to have it show on the statement when making a transfer.

Scotiabanks and tds when using the transfer button does not show up same day but it does impact thr limit on the same day when you make a transfer. It wont be on the list until the next day.

When you make a bill payment it takes longer.
Deal Addict
User avatar
Mar 25, 2012
1158 posts
437 upvotes
Kelowna
angel_wing0 wrote:
Apr 26th, 2014 11:33 pm
afaik nope.

You can always pay in a scotia branch, just show the teller your visa and hand over your cash and u are done.
Actually, there is a way to avoid the "hold" on Scotiabank VISA payments. Because Scotiabank VISA and American Express cards don't have "cash back" (i.e., "hold release" or "access to deposited funds") limits like Scotiabank debit cards, any payments via the "ABM deposit" option directly to that credit card will be held. One way to avoid this is open a Money Master Savings Account with Scotiabank, link it to your ScotiaCard and ask/apply for a "cash back" limit. Then, make the deposit to your Money Master Savings Account via the ABM and, if it's less than your "cash back" limit, you can use the funds immediately. From there, complete a second "ABM transfer" option from your Money Master Savings Account to your VISA/American Express and the funds are applied instantly and no debit transaction fee is charged as transfers between Scotiabank Group accounts in the same name/beneficial ownership are free. :)

Cheers,
Doug
Sr. Member
Nov 16, 2006
557 posts
184 upvotes
Toronto
dmehus wrote:
Apr 30th, 2014 4:22 pm
Actually, there is a way to avoid the "hold" on Scotiabank VISA payments. Because Scotiabank VISA and American Express cards don't have "cash back" (i.e., "hold release" or "access to deposited funds") limits like Scotiabank debit cards, any payments via the "ABM deposit" option directly to that credit card will be held. One way to avoid this is open a Money Master Savings Account with Scotiabank, link it to your ScotiaCard and ask/apply for a "cash back" limit. Then, make the deposit to your Money Master Savings Account via the ABM and, if it's less than your "cash back" limit, you can use the funds immediately. From there, complete a second "ABM transfer" option from your Money Master Savings Account to your VISA/American Express and the funds are applied instantly and no debit transaction fee is charged as transfers between Scotiabank Group accounts in the same name/beneficial ownership are free. :)

Cheers,
Doug
Will not work. Transfer from Money Master Savings to a chequing account is a transfer, a transfer from Money Master Savings to a Credit Card is a Bill Payment. Doing this will result in a $5 charge each time.

There's no way to get a free account with Scotia without a minimum monthly balance, or being a student/senior. My advice to you is to just pay it a couple of days ahead and stop trying to time payments/getting 2 more days worth of worthless interest.
Deal Addict
User avatar
Mar 25, 2012
1158 posts
437 upvotes
Kelowna
xtreemboarder wrote:
Apr 30th, 2014 4:55 pm
Will not work. Transfer from Money Master Savings to a chequing account is a transfer, a transfer from Money Master Savings to a Credit Card is a Bill Payment. Doing this will result in a $5 charge each time.

There's no way to get a free account with Scotia without a minimum monthly balance, or being a student/senior. My advice to you is to just pay it a couple of days ahead and stop trying to time payments/getting 2 more days worth of worthless interest.
Absolutely incorrect. The trick is to ensure, when using the ABM, to select "transfer" and have your VISA/American Express "linked" to your Scotia OnLine and ScotiaCard. Once that's in place and as long as you select "transfer" and not "bill payment" at the ABM, it's free. I've done this multiple times in the last 6 months and had no issues. I've also confirmed this with a Scotiabank contact centre representative.

My accounts/products with Scotiabank: (1) a Money Master Savings Account, linked as "savings" on my ScotiaCard and available on Scotia OnLine with a balance of between $50 and $100; (2) Scotiabank SCENE VISA linked to my ScotiaCard and available on Scotia OnLine; (3) Scotia iTRADE TFSA, Cash Account, RRSP and Locked-In RRSP accounts

Within Scotia iTRADE, I've got my Tangerine accounts "linked" for sporadic (as I request them online) fund transfers as well as accounts with two (2) Manitoba credit unions.

Similarly, you can even transfer money from a Money Master Savings Account to a Scotia iTRADE, instantly, for free (no debit transaction fee) and then use Scotia iTRADE to transfer out to a "linked" external bank account again for free. I've tested this as well. Works perfectly! ;)

Cheers,
Doug
Moderator
User avatar
Mar 23, 2004
38212 posts
4344 upvotes
Markham
xtreemboarder wrote:
Apr 30th, 2014 4:55 pm
...a transfer from Money Master Savings to a Credit Card is a Bill Payment.
I dont think it counts as a bill payment if it's to another scotia product...and yes i/dhemus are right:

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Sr. Member
Sep 24, 2006
863 posts
40 upvotes
Mirage04 wrote:
Apr 27th, 2014 1:40 pm
MattyMattMatt, you can open a money master account (no monthly fee) and then if you go to the transfers section and transfer from that account to the visa you won't be charged for the payment and it will make the credit immediately available to use. Make sure you DO NOT go under pay bills to do this otherwise there will be a fee.
does this still work? ... paying a bill using the transfer function

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