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Scotiabank

$300 Welcome Bonus - Ultimate Package OR Preferred Package

  • Last Updated:
  • Sep 26th, 2021 1:34 pm
[OP]
Sr. Member
Jan 1, 2018
629 posts
803 upvotes

[Scotiabank] $300 Welcome Bonus - Ultimate Package OR Preferred Package

Deal Link:
Expiry:
July 29, 2021
Retailer:
Scotiabank
More offers from Scotiabank
Earn a $300 welcome bonus and for a limited time, a savings rate of up to 1.80%23 on select bank accounts (Ultimate /Preferred Package)

Ultimate Package - No monthly account fee by maintaining a minimum daily closing balance of $5,000 in your Ultimate Package, or a combined balance of $30,000 across your Ultimate Package and your MomentumPLUS Savings Account

Preferred Package - No monthly account fee by maintaining a minimum daily closing balance of $4,000 for the entire month

Eligibility:



To qualify for the special offers, make sure to:
  • Open a new Ultimate Package or a new Preferred Package by July 29, 2021.
  • Complete any two of the following actions within 60 days of opening your account:
  • Make an eligible $50 bill payment through online or mobile banking.
  • Set up and clear 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.
  • Set up and clear at least one eligible automated and recurring direct deposit, such as payroll or pension, which will recur monthly for a minimum of 3 consecutive months.
The $300 cash bonus will be deposited directly into your new Ultimate Package or new Preferred Package account within 6 months from account open date provided all offer conditions have been met. See terms and conditions below for full details.


Terms & Conditions - https://www.scotiabank.com/ca/en/person ... tions.html
Ahh the feeling I get when I've saved some money...more money for the more important things!
35 replies
Deal Addict
User avatar
Feb 18, 2013
2299 posts
16643 upvotes
Worth noting:
Eligibility and Exclusions: Individuals who are currently holders of a Scotiabank Chequing Account are not eligible for the Offers. Individuals who were previously holders of a Scotiabank Chequing Account within the last two (2) years are not eligible for the Offers. “Scotiabank Chequing Account” means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. Employees of Scotiabank are also not eligible for the Offers.
But good wording here - I can't find any wording showing it must stay open for X months to avoid clawback. Looks like you could close after the 3-6 mo when the bonus deposits.
General Terms: The $300 cash bonus will be deposited to the Eligible Account within six (6) months from account open date provided all Offer conditions outlined above have been met. The Eligible Account must be open and in good standing until the time of payout of the cash bonus. The Eligible Account is not in "good standing" if: (i)it has a negative balance exceeding the authorized overdraft limit, or (ii)it has been in continuous overdraft for a period of three consecutive months. These Offers are non-transferable and may not be duplicated. Limit of one (1) Offer per customer, regardless of the number of Eligible Accounts opened. If more than one (1) Eligible Account is opened, only the first Eligible Account opened will be eligible for the Offer. For joint accounts, only one (1) cash bonus Offer will be applied to the primary account holder’s Eligible Account. All rates, fees, features and benefits are subject to change. Offers may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Deal Fanatic
Jun 29, 2007
5848 posts
2312 upvotes
Vancouver
I think you can stack this with this:

https://cashback.highinterestsavings.ca/

They are good with deal with. Got my $50 amazon gc recently.

If you don't mind having $5k sitting around not doing anything.

Premium credit card annual fee rebate and get so many iTrade trades (10 first yr and 5 in later yrs) free per year.

I found their customer service to be terrible though and I will close my account after I get $300.
Last edited by Speedy1 on Jul 16th, 2021 8:40 pm, edited 1 time in total.
Jr. Member
Jan 21, 2019
193 posts
434 upvotes
Leverage wrote: Worth noting:



But good wording here - I can't find any wording showing it must stay open for X months to avoid clawback. Looks like you could close after the 3-6 mo when the bonus deposits.
You can close it as soon as you get the cashback.
Deal Addict
Jan 17, 2010
4526 posts
1216 upvotes
Toronto, ON
Thanks OP! Been waiting for this.
Deal Expert
User avatar
Jan 9, 2011
18359 posts
25973 upvotes
Vancouver
CIBC is offering $300 for 12 months, no monthly fee, no minimum balance. You do need to do the usual payroll/bill pays/etc and keep the account open for a year. Beats Scotia's holding on to $4k or $5k IMO.
[OP]
Sr. Member
Jan 1, 2018
629 posts
803 upvotes
Kiraly wrote: CIBC is offering $300 for 12 months, no monthly fee, no minimum balance. You do need to do the usual payroll/bill pays/etc and keep the account open for a year. Beats Scotia's holding on to $4k or $5k IMO.
Why not do both? 🧐
Ahh the feeling I get when I've saved some money...more money for the more important things!
Sr. Member
Sep 14, 2009
930 posts
641 upvotes
Kingston
Look for a new branch that recently opened in your neighbourhood. They usually offer an extra promo on top of the $300 to open a new account. Last December they offered $450 if you came to the new branch in person to open your account.
[OP]
Sr. Member
Jan 1, 2018
629 posts
803 upvotes
Kiraly wrote: Do you have more than one payroll to set up for deposit?
Yup!
Ahh the feeling I get when I've saved some money...more money for the more important things!
Jr. Member
May 2, 2017
164 posts
201 upvotes
Kiraly wrote: Do you have more than one payroll to set up for deposit?
I don't, and agree with you that CIBC is the better offer here. Thanks for the suggestion.
Deal Expert
User avatar
Jan 12, 2017
21783 posts
6405 upvotes
Scarberia
i did the 5k in ultimate checking account back in april and i got my 300$ bonus very quick at beginning of july! i think, less than 4months after i opened the account...i just had to do one 50$ online bill payment..then have 3 consecutive months of payroll direct deposit(apri,may,june) ..not bad promo...not sure when u can cancel this account tho..i need to move that 5k out to pay off bills Face With Tears Of Joy

has anyone cancelled their account right after getting 300$ promo? no clawbacks? thx..i might close account and downgrade my cc to a no fees card...i need my 5k back!
*SIG: Ryzen R5 2600 cpu w/ ASrock B450M OCd to 4.0ghz@1.265v stock cooler 16gb ram win10 pro w/radeon rx460 rogers Gigabit<< xb1 gamertag: mikka2017 >>
Deal Expert
User avatar
Feb 8, 2014
30459 posts
14101 upvotes
Socially Distanced
Speedy1 wrote:
If you don't mind having $5k sitting around not doing anything.
For $300 think of it as 6 percent interest.
And after 6 months worst case you can put the money elsewhere adding to that 6%. An excellent rate of return these days.

Having an emergency fund of 5K of liquid cash for the average person is a decent emergency fund. For the average 100K earning RFD member its no 3-6 month emergency fund but one has to start somewhere.
In fact in Rand McNally they wear hats on their feet and hamburgers eat people
Deal Addict
User avatar
Aug 1, 2006
2626 posts
2299 upvotes
Toronto
If you do decide to keep account, make sure you choose Ultimate package since Preferred package gets only first year CC fee waived whereas Ultimate gets CC fee waived every year.
Newbie
Jun 13, 2020
57 posts
85 upvotes
I got this last year. I'm pairing up Ultimate package with Momentum visa infinite card (because of annual fee rebate). Their customer support is really poor though. So always keep balance above $5k so you don't have to deal with the support team.
Member
User avatar
Mar 28, 2011
210 posts
192 upvotes
Local Ontarian Scotl…
It's pretty low probability that you receive the bonus.

Scotia is very well known to .... physically love )))) their customers.
Deal Addict
User avatar
Aug 12, 2010
1287 posts
1240 upvotes
Southern Ontario
I'm having to chase down my $300 from Scotia for account opened in December. Other institutions have been automatic in the past. Not impressed.
Deal Addict
Aug 26, 2004
3551 posts
807 upvotes
Toronto
application just hangs at the rewards page on step 2... tried different browsers different computers
Jr. Member
Nov 17, 2009
108 posts
105 upvotes
BornToSave wrote: I'm having to chase down my $300 from Scotia for account opened in December. Other institutions have been automatic in the past. Not impressed.
Any luck? I am in same situation lol

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