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[Scotiabank] Get up to $350 + premium VISA/Amex annual fee waived on Scotia new banking package

Sr. Member
Apr 13, 2017
531 posts
167 upvotes
pmcd wrote:
Oct 20th, 2019 5:08 am
I plan on keeping TD’s AI. Lines of credit, TD Bank in the US... Scotia seems less convenient for cross border issues. Still, Scotia might surprise me. They seem to be improving rapidly. Their credit cards are appealing, though TD’s are fine.
I'll keep my TD loc and use that as checking account by having positive balance.
Newbie
Dec 5, 2012
78 posts
69 upvotes
ETOBICOKE
Since everyone is always talking about PAD, i am confused.

I have paid my CC bill plenty of times and have biweekly payroll deposit. I don't need to worry about PAD right? because i meet two conditions
Member
May 2, 2017
309 posts
439 upvotes
chinook79 wrote:
Oct 20th, 2019 3:14 am
I'm more interested in 3.1% interest rate.. how long do Scotia keep the rate for usually? It says limited time, but doesn't say when the rates expire.. I am looking for a place to park $200k+..
1% bonus only till January, then goes down to 1% base + 1% premium
Sr. Member
Nov 28, 2011
824 posts
557 upvotes
Toronto
Seanne wrote:
Oct 19th, 2019 8:50 pm
Could you elaborate on this? Do we get the bonus signups with a product switch?
That's a great question that i didn't ask my advisor See-no-evil Monkey.
The wording on welcome bonuses suggests that if you've been a credit card customer over the past 2 years, you are not eligible for the bonuses. However, at least 2 RFDers indicated that the language was meant to be specific to a card product (if you've held a momentum infinite in the past two years, you are not eligible for the momentum infinite welcome bonus if you sign up today).
Two RFDers mentioned that they were going to go through with signing up new card products and see if they get the welcome bonus, despite having held another Scotia CC in the past 2 years.

If someone else is aware, would love to hear more :)
Member
Apr 13, 2016
283 posts
164 upvotes
Seanne wrote:
Oct 19th, 2019 9:17 pm
A data point.
Misc90 wrote:
Oct 19th, 2019 8:41 pm
If you get an annual fee waiver on a card but cancel the ultimate package which you used to get the fee waiver, you continue to keep the card at no charge until the next annual fee is due.

If I misunderstood your question I apologize but I think that's what you were asking.
this is confirmed?

thanks by the way
Deal Addict
Jun 1, 2008
1842 posts
405 upvotes
Toronto
headleygrange wrote:
Oct 20th, 2019 7:15 am
I'll keep my TD loc and use that as checking account by having positive balance.
Makes sense, but we have a line of credit tied to our home, as well as unsecured lines of credit. You can't transfer a secured loc easily, without all kinds of fees. Also, I have no real issues with TD. They seem similar to Scotia or CIBC. RBC would be great, but they don't have a comparable way of waiving credit card fees. Otherwise, no complaints with them. Tangerine is owned by Scotia and I personally have become less than happy with them.
Sr. Member
Oct 8, 2015
674 posts
373 upvotes
Any tried to pay Canadian credit card through CTFS website and succeeded, like coast capital’s request?
Sr. Member
Apr 13, 2017
531 posts
167 upvotes
Scotia interac e transfer requires you to key the security question and answer every time. I wish they saved these in the contact details, like TD.
Member
May 12, 2006
236 posts
127 upvotes
ON
Wouldn't you be better off keeping that 4-5k in an investment instead?
Jr. Member
Feb 8, 2017
151 posts
38 upvotes
Canuck485 wrote:
Oct 21st, 2019 10:28 am
Wouldn't you be better off keeping that 4-5k in an investment instead?
That's my problem with all these banking deals. The 4-5 K min balance to waive fees is forever. You save money every year but you effectively give the money up forever.

At least when you invest you can actually use it one day. The min balances keep going up as well. I remember my CIBC account years ago being min 1 K.
Sr. Member
Apr 13, 2017
531 posts
167 upvotes
Does Scotia still issue the old non-Visa interac debit cards anymore?

Edit: Found answer. Scotia does not allow interac online anymore. http://interac.ca/en/interac-online-consumer.html



With TD, I still have the old debit card , which allows interac online transactions such as CRA payments.
Last edited by headleygrange on Oct 21st, 2019 3:31 pm, edited 1 time in total.
Member
User avatar
Nov 1, 2017
462 posts
160 upvotes
I applied for an account online.

Is the credit card fee waived automatically? Or are there additional steps?
Sr. Member
User avatar
Nov 19, 2014
743 posts
671 upvotes
GPS - error
sierravista wrote:
Oct 21st, 2019 10:37 am
That's my problem with all these banking deals. The 4-5 K min balance to waive fees is forever. You save money every year but you effectively give the money up forever.

At least when you invest you can actually use it one day. The min balances keep going up as well. I remember my CIBC account years ago being min 1 K.
Probably because years ago that $1000 was worth exactly as much as what the $5000 is worth now :)
Deal Addict
Dec 31, 2013
1422 posts
784 upvotes
condo
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:
A) 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
B) 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
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.


So if I complete A and C, then after 3 months I should be able to receive the $350 promo? So around February 2020... and the online bill payment only needs to be one-time eh?
So mainly just switch payroll and then I can e-interac the $$$ for free to a higher interest savings account like EQ Bank, Tangerine or some other promo?
Sr. Member
User avatar
Nov 19, 2014
743 posts
671 upvotes
GPS - error
tmonies wrote:
Oct 21st, 2019 3:00 pm
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:
A) 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
B) 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
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.


So if I complete A and C, then after 3 months I should be able to receive the $350 promo? So around February 2020... and the online bill payment only needs to be one-time eh?
So mainly just switch payroll and then I can e-interac the $$$ for free to a higher interest savings account like EQ Bank, Tangerine or some other promo?
I hope so, I'm doing A and then C paying a utility bill or something :)

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