Yep - if you get the right CSR it can make a world of difference. I had one not so great one, and one that was exceptional. YMMV.
Scotiabank
Get up to $350 + premium VISA/Amex annual fee waived on Scotia new banking package
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- sckor
- Deal Addict
- Jul 1, 2006
- 1051 posts
- 964 upvotes
- Zen
- Sr. Member
- Feb 16, 2003
- 762 posts
- 167 upvotes
What are you supposed to see as a valid pre-authorized transaction? (condition b/2 PAD)
Tangerine : Inter-FI Funds Transfer
B2B : Miscellaneous Payment
Tangerine : Inter-FI Funds Transfer
B2B : Miscellaneous Payment
WTB:
- Pharmer
- Deal Addict
- Jan 9, 2014
- 1171 posts
- 741 upvotes
- Toronto
does scotiabank do a hard credit pull for opening this package? I had just opened thir scotia amex gold in October.
- ryokoseigo
- Sr. Member
- Feb 1, 2017
- 500 posts
- 842 upvotes
Darn its tempting to pickup the Scotiabank Momentum Infinite and get the actual best permenent cashabck on groceries, and cell bill... Only Its a crazy hassle to get work to change payments again when I did it a few months ago thinking I'd stay with TD forever...
I've had bad luck with TD too, so I'm not really sure what to do. Its probably not worth the effort for a 1% increase in cashback, but 350$ extra is kinda neat.
What is the interest on 3 months getting 350$ but using 5k? Like how much interest on 5k do you need in 3 months to make this not worth doing regardless of usage if you have the 5k?
Edit- the requirements are a bit funky, Can you set the recurring payments in like 1 day, which would proc the 2-month window, meaning you only need to hold the account for 2 months+1day?
I've had bad luck with TD too, so I'm not really sure what to do. Its probably not worth the effort for a 1% increase in cashback, but 350$ extra is kinda neat.
What is the interest on 3 months getting 350$ but using 5k? Like how much interest on 5k do you need in 3 months to make this not worth doing regardless of usage if you have the 5k?
Edit- the requirements are a bit funky, Can you set the recurring payments in like 1 day, which would proc the 2-month window, meaning you only need to hold the account for 2 months+1day?
- jellytime
- Deal Addict
- Feb 19, 2014
- 3352 posts
- 2339 upvotes
- Langley
DP.
Second Scotia Momentum Visa - didn't get the 10% cashback =/
Gonna have to call them and see if they can still do the 10%.. sigh.
The Scotia Amex I got the bonus on my second sign up though.
Second Scotia Momentum Visa - didn't get the 10% cashback =/
Gonna have to call them and see if they can still do the 10%.. sigh.
The Scotia Amex I got the bonus on my second sign up though.
- i3kc
- Deal Addict
- Feb 6, 2007
- 1707 posts
- 1456 upvotes
- Markham
When I opened mine they did not do a credit check because I had an existing GM card. But it might be because they had pre-approved me for more credit on they system. I suggest check with them.
- WilliamH38925
- Newbie
- Jul 22, 2019
- 23 posts
- 5 upvotes
I had a Powerchequing account that was just sitting there with Scotia, would like to get the preferred package. Any DP that shows that I can possibly get the $300 GC?
- Mint
- Deal Addict
- Aug 30, 2003
- 4399 posts
- 1248 upvotes
For option 2 - two pre-authorized transaction they list utility payment. Has anyone use paying their Enbridge Gas and Toronto Hydro as the two payments? I see in Option 3 they list out "utility bill, hydro bill" as separate items.someweirdo wrote: ↑Note the fine print. One important excerpt:
Complete two (2) of the following three (3) activities in your Eligible Account within 60 days of opening:
Set up an eligible recurring direct deposit (e.g., employer payroll, pension provider, or government) which will recur monthly for a minimum of three (3) consecutive months, or
Set up a minimum of two (2) eligible separate recurring pre-authorized transactions (e.g., utility payments, property taxes, loan/mortgage payments) with a minimum value of at least $50 per transaction which will each recur monthly for a minimum of three (3) consecutive months, or
Make at least one eligible online bill payment (e.g. utility bill, hydro bill, credit card payment, cable) of at least $50 through the Scotiabank Mobile App or through Scotia OnLine.
Also, for the pre-authorized transaction, I guess you have to enter it from the actual Enbridge Gas and Toronto Hydro website? That is, it's not just setting up a re-occuring payment.
Thanks for the help!
- pmcd
- Deal Addict
- Jun 1, 2008
- 2018 posts
- 465 upvotes
- Toronto
- EDL67134234
- Deal Addict
- Feb 10, 2018
- 2265 posts
- 1511 upvotes
I thought there would be some sort of incentive for Scotia to start giving more frequent cash back payouts, not this annual redemption crap. It is too bad it wasn't implemented in their refresh.
- MountainView11
- Jr. Member
- Jan 25, 2017
- 161 posts
- 188 upvotes
My thoughts exactly. RBC, TD, and BMO Cash back credit cards you can redeem anytime as long as your cash back balance is $25 or greater. MBNA is $50. Tangerine is every month. Scotiabank and CIBC are the only ones that pay out only once per year.EDL67134234 wrote: ↑ I thought there would be some sort of incentive for Scotia to start giving more frequent cash back payouts, not this annual redemption crap. It is too bad it wasn't implemented in their refresh.
Come to think of it, the once per year payout has got to be ideal for Scotiabank as they get to hold onto everyone’s cash back until November. Kind of like the minimum account balance to waive fees. They can invest lend all that money and then plan for paying out all the cash back throughout November.
- sckor
- Deal Addict
- Jul 1, 2006
- 1051 posts
- 964 upvotes
This is only true for the Momentum cards and I agree it is irritating.MountainView11 wrote: ↑ My thoughts exactly. RBC, TD, and BMO Cash back credit cards you can redeem anytime as long as your cash back balance is $25 or greater. MBNA is $50. Tangerine is every month. Scotiabank and CIBC are the only ones that pay out only once per year.
The Scotia Rewards earning cards (Gold AMEX / Passport) allow you to redeem points whenever you want (assuming you have enough for a minimum redemption).
- EDL67134234
- Deal Addict
- Feb 10, 2018
- 2265 posts
- 1511 upvotes
DP: Received 1st statement for Scotia Amex.
Annual fee is $0
Annual fee is $0
- AmirMasoudC10880
- Newbie
- Dec 19, 2018
- 6 posts
- 3 upvotes
I just opend an ultimate account which offers me 350$ cash . However, the requirements for that are:
"To qualify for the special offer, make sure to:
1. Open a new Ultimate Package by December 30, 2019.
2. Complete two of the following three actions within 60 days of opening your account:
Set up an eligible recurring direct deposit, which will recur monthly for a minimum of 3 consecutive months.
Set up at least 2 eligible separate recurring pre-authorized transactions that are $50 or more, which will each recur monthly for a minimum of 3 consecutive months.
Make an eligible $50 bill payment through online or mobile banking.
We’ll deposit $350 cash directly into your new account within 2 months of completing the above requirements. See terms and conditions below for full details."
Two questions:
1- when it says " Complete two of the following three actions within 60 days of opening your account" for 3 consecutive recurring pre-authorized transactions , does it mean just setting it up whithin 60 days? otherwise, it doesnt make sense!
2- when I want to set up a pre-authorized transaction from my mobile bill, I have the option to choose between the AMEX credit card I got from this account and also checking account. Does paying from the credit card fulfill the requirement?
Thanks
"To qualify for the special offer, make sure to:
1. Open a new Ultimate Package by December 30, 2019.
2. Complete two of the following three actions within 60 days of opening your account:
Set up an eligible recurring direct deposit, which will recur monthly for a minimum of 3 consecutive months.
Set up at least 2 eligible separate recurring pre-authorized transactions that are $50 or more, which will each recur monthly for a minimum of 3 consecutive months.
Make an eligible $50 bill payment through online or mobile banking.
We’ll deposit $350 cash directly into your new account within 2 months of completing the above requirements. See terms and conditions below for full details."
Two questions:
1- when it says " Complete two of the following three actions within 60 days of opening your account" for 3 consecutive recurring pre-authorized transactions , does it mean just setting it up whithin 60 days? otherwise, it doesnt make sense!
2- when I want to set up a pre-authorized transaction from my mobile bill, I have the option to choose between the AMEX credit card I got from this account and also checking account. Does paying from the credit card fulfill the requirement?
Thanks
- SandyCanada
- Newbie
- Jul 14, 2019
- 71 posts
- 68 upvotes
Any idea how I can do this ?
" Set up at least 2 eligible separate recurring pre-authorized transactions that are $50 or more, which will each recur monthly for a minimum of 3 consecutive months.",
As, my Electricity and broadband (Rogers) bill is below 50$.
will Paytm work? any other option?
" Set up at least 2 eligible separate recurring pre-authorized transactions that are $50 or more, which will each recur monthly for a minimum of 3 consecutive months.",
As, my Electricity and broadband (Rogers) bill is below 50$.
will Paytm work? any other option?
- smokeyjay
- Jr. Member
- Oct 5, 2009
- 108 posts
- 92 upvotes
- Vancouver
You can make a separate one time $50 payment when you set up your account. You know how you normally pay off your other credit cards through the bill payment tab. Well you have to pay off your scotia bank credit card that way one time.SandyCanada wrote: ↑ Any idea how I can do this ?
" Set up at least 2 eligible separate recurring pre-authorized transactions that are $50 or more, which will each recur monthly for a minimum of 3 consecutive months.",
As, my Electricity and broadband (Rogers) bill is below 50$.
will Paytm work? any other option?
Thats what I was told by the bank tellers. I still haven't received my $350 but its only been two months. though.
- iheartdeals
- Sr. Member
- Jul 19, 2006
- 509 posts
- 61 upvotes
is it a scotiabank card or is it a scotiabank credit card?
I think the last scotiabank card was more than 2 years ago but I just closed a scotia credit card in 2018. I presume I would still qualify for all the bonuses? thanks
- EDL67134234
- Deal Addict
- Feb 10, 2018
- 2265 posts
- 1511 upvotes
Yymv.iheartdeals wrote: ↑ is it a scotiabank card or is it a scotiabank credit card?
I think the last scotiabank card was more than 2 years ago but I just closed a scotia credit card in 2018. I presume I would still qualify for all the bonuses? thanks
Im on my third scotia Amex and got the bonus.
- typoprone
- Newbie
- Feb 18, 2009
- 86 posts
- 13 upvotes
So, to satisfy this requirement, can I pay off the outstanding balance on my RBC Rewards+ Visa using the "Bill Payments" tab and adding "Royal Bank Visa" as a payee? Can someone please confirm?C) Make at least one eligible online bill payment (e.g. utility bill, hydro bill, credit card payment, cable) of at least $50 through the Scotiabank Mobile App or through Scotia OnLine.
- G0DKING
- Deal Addict
- Dec 9, 2014
- 2033 posts
- 1013 upvotes
Yes