Hot Deals

[Scotiabank] Get $300 cash when you open a Scotia One chequing account.

  • Last Updated:
  • Jun 20th, 2019 10:53 pm
[OP]
Deal Addict
Sep 4, 2007
1232 posts
704 upvotes
Edmonton

[Scotiabank] Get $300 cash when you open a Scotia One chequing account.

Deal Link:
Expiry:
June 30, 2019
Retailer:
Scotiabank
More offers from Scotiabank
For once not targeted!

If you keep $4,000 minimum balance the whole time, you don't pay any monthly fees. Doesn't look like there's any minimum holding period.


Relevant fine print:
Individuals who are currently or were previously holders / joint holders of a Scotiabank chequing account within the last two (2) years are not eligible for the $300 or $100 cash offers (each an “Offer”, collectively the “Offers”).
To qualify for the Offers, you must:

1) Open a new Scotia One chequing account (eligible for the $300 Offer) or new Basic Banking Plan chequing account (eligible for the $100 Offer), each an “Eligible Account”, by June 30, 2019; and
2) 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.

The $300 or $100 cash bonus, as applicable, will be paid into the primary account holder’s Eligible Account within two (2) months following the satisfaction of the conditions outlined above.

To qualify for the Monthly Account Fee for the first year, open a new Scotia One™ Chequing Account under the StartRight® Program (the “Account”). Employees of The Bank of Nova Scotia (“Scotiabank”) and individuals who are currently or were previously holders/ joint holders of a Scotiabank chequing account within the last 2 years are not eligible.

Edit: added other important fine print
Last edited by frozenmelon on May 2nd, 2019 12:56 pm, edited 3 times in total.
97 replies
Jr. Member
Apr 2, 2018
112 posts
53 upvotes
"To qualify for the Monthly Account Fee for the first year, open a new Scotia One™ Chequing Account under the StartRight® Program (the “Account”)" I'm a newcomer will I get $300 cash as well as with 1 year free? Thank you
Sr. Member
Jan 8, 2012
525 posts
239 upvotes
Williams Lake
This looks like a pretty good deal.

I'd add this from the fine print:
The $300 or $100 cash bonus, as applicable, will be paid into the primary account holder’s Eligible Account within two (2) months following the satisfaction of the conditions outlined above.
Thanks OP.

cheers

asdf
Deal Addict
User avatar
Oct 23, 2006
4396 posts
1316 upvotes
Winnipeg
wudtsilake wrote:
May 2nd, 2019 11:25 am
This looks like a pretty good deal.

Can't see any catches in the fine print.

Thanks OP.

cheers

asdf

The catch is Scotiabank is notorious for not paying out these bonuses/changing offer terms, and you have to spend lots of time on the phone or in branch fighting for the $300.
Jr. Member
Apr 2, 2018
112 posts
53 upvotes
wudtsilake wrote:
May 2nd, 2019 11:25 am
This looks like a pretty good deal.

I'd add this from the fine print:

Thanks OP.

cheers

asdf
Do you know that how long we need to keep an active account till?
Newbie
Aug 25, 2018
3 posts
6 upvotes
Waterloo, ON
I opened a Scotia One account last year under this promo, and fulfilled all conditions. Naturally, they did not pay out the bonus, but once I emailed a senior bank officer (probably the bank ombudsman officer), they called back to confirm that I indeed participated in the promo and then paid out the bonus pretty quickly.
Member
User avatar
Jul 4, 2012
311 posts
114 upvotes
Qc
I did this last time they had that offer. Had to keep my account opened for nearly a year, mostly because they were lazy in issuing the 300$ cashback. Even for a full year, it's still equates to 7,5% interest on a 4000$.
Not bad.
Deal Addict
Dec 4, 2008
1032 posts
516 upvotes
Is there a minimum duration to keep the account opened?

Because if not that makes this pretty hot, otherwise it's lukewarm at best...
Member
Nov 25, 2009
262 posts
80 upvotes
Vancouver
sports1 wrote:
May 2nd, 2019 11:45 am
Is there a minimum duration to keep the account opened?

Because if not that makes this pretty hot, otherwise it's lukewarm at best...
Seems like you can cancel as soon as you get your $300
Sr. Member
Jan 8, 2009
513 posts
428 upvotes
canuckcolehead wrote:
May 2nd, 2019 11:27 am

The catch is Scotiabank is notorious for not paying out these bonuses/changing offer terms, and you have to spend lots of time on the phone or in branch fighting for the $300.
True that. Still waiting for my $300 from the fall 2018 promo.
Newbie
Apr 4, 2017
49 posts
25 upvotes
canuckcolehead wrote:
May 2nd, 2019 11:27 am
The catch is Scotiabank is notorious for not paying out these bonuses/changing offer terms, and you have to spend lots of time on the phone or in branch fighting for the $300.
I signed up for an account with the same promotion in late 2018. I still haven't received the money after fulfilling all the terms. I called their customer service line and was told they can't help me and to call the branch where I signed up. It's completely ridiculous.
Newbie
Aug 19, 2011
75 posts
43 upvotes
Vancouver
Deallionaire wrote:
May 2nd, 2019 12:34 pm
I signed up for an account with the same promotion in late 2018. I still haven't received the money after fulfilling all the terms. I called their customer service line and was told they can't help me and to call the branch where I signed up. It's completely ridiculous.
I had the exact same response. It was an infuriating call too, with the person constantly changing their story when I brought up the specific terms I fulfilled.

Called back another day and got a person who knew exactly what promo I was talking about. He opened a ticket with some internal department and 3 days later the $300 was in my account.
Sr. Member
Jan 8, 2012
525 posts
239 upvotes
Williams Lake
User772911 wrote:
May 2nd, 2019 11:28 am
Do you know that how long we need to keep an active account till?
It looks like five months (three months to fulfill conditions plus 2 months) plus whatever time it takes to get SB to actually pay the bonus, reading the other responses in the thread.
Deal Addict
User avatar
Dec 4, 2007
3314 posts
1065 upvotes
Quebec
g1zm05 wrote:
May 2nd, 2019 11:40 am
I did this last time they had that offer. Had to keep my account opened for nearly a year, mostly because they were lazy in issuing the 300$ cashback. Even for a full year, it's still equates to 7,5% interest on a 4000$.
Not bad.
Ill add to that, these cashback money is not taxable. So a clear 7.5%. Very nice... But like others stated, if you have to deal with them and waste numerous time to have them pay or never paid... Its a loss.
Member
Nov 13, 2016
228 posts
332 upvotes
Do you get a credit check when opening this account?
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