Personal Finance

questions about Scotiabank accounts

  • Last Updated:
  • May 18th, 2019 9:44 am
Tags:
Sr. Member
Nov 8, 2017
923 posts
447 upvotes
Scotia is still stuck in the 80s. Have a problem? You have to come down to the branch. Try to pay your Scotia Credit card? Have to go down to the branch. Have a problem with a transaction? Go down to the branch.
About two months ago I walked past a scotia atm and it looked like a Soviet control panel for a spaceship
Member
Jan 4, 2017
323 posts
161 upvotes
dmehus is correct, you can see for yourself right on their site: http://www.scotiabank.com/ca/en/persona ... count.html where it says unlimited no-fee self-service transfers between Scotia accounts and no monthly fee. If you do anything that is tagged as a "debit transaction", those will entail the usual horrendous $5 fee. The "trick" is indeed to do a transaction that is a "transfer" between accounts.

I don't know about it being instant, but to be frank, I think it doesn't much matter, at all. Your payment is due on X day, you can make your payment or "transfer" on that date, and that's that. It would be nice however if Scotia would display pending authorizations on the credit card which is something they don't do, but TD does!
Deal Addict
Nov 25, 2014
1739 posts
941 upvotes
Newton Brook, ON
staffpro wrote:
Apr 13th, 2018 10:35 am
does this still work? ... paying a bill using the transfer function
Yes, what @dmehus said is still true. To be fair to the naysayers, many Scotiabank reps still don't understand this themselves and give bad advice.
You need someone with an umbrella not a fork
Newbie
Nov 16, 2017
63 posts
56 upvotes
BC
It's a bit ridiculous how you can't pay CIBC LOC using pay bills like you can with the Scotia LOC. And you can't send or receive EMTs using Scotia's LOC but you can with CIBCs. All I have with Scotia is a STEP LOC and an iTrade account, so it seems I am stuck using Doug's iTrade transfer trick to get money out of the LOC. It's probably a good thing to set up transfers to/from iTrade and external banks anyhow..
Sr. Member
May 16, 2017
597 posts
599 upvotes
trevdanc wrote:
May 18th, 2019 9:16 am
It's a bit ridiculous how you can't pay CIBC LOC using pay bills like you can with the Scotia LOC. And you can't send or receive EMTs using Scotia's LOC but you can with CIBCs. All I have with Scotia is a STEP LOC and an iTrade account, so it seems I am stuck using Doug's iTrade transfer trick to get money out of the LOC. It's probably a good thing to set up transfers to/from iTrade and external banks anyhow..
I suspect the differences between CIBC and Scotia LoCs are that CIBC appears to be a bank deposit account and Scotia appears to be a credit card account to the electronic banking world; hence different functionality available (not that there aren't ways around that, at least internal to the same bank for some of those issues, externally I'm not surprised of the limitations).

Top