[Scotiabank] Earn $300 cash plus up to 2.70% interest with the Scotiabank Ultimate Package.

May 1st, 2020 11:34 pm

#1

trigger0 [OP]: Sr. Member; Jun 13, 2019; 829 posts; 892 upvotes; Toronto

May 1st, 2020 11:34 pm

[Scotiabank] Earn $300 cash plus up to 2.70% interest with the Scotiabank Ultimate Package.

Deal Link:: https://www.scotiabank.com/ca/en/person ... tures.html
Expiry:: July 30, 2020
Retailer:: Scotiabank

Regular offer is back with added limited time interest bonus. Please refer the old threads for reviews and feedbacks.

bank-did-not-fulfill-its-cash-bonus-promise-2347225/
ymmv-scotiabank-300-bonus-ultimate-pref ... t-2350436/

MITC

$300 Cash Offer Conditions: To qualify for the $300 cash offers (each an “Offer”, collectively the “Offers), you must:

Open a new Ultimate Package or new Preferred Package (each an “Eligible Account”) by July 30, 2020; and
Complete two (2) of the following three (3) activities in your Eligible Account within 60 days of Eligible Account opening:
Make at least one (1) eligible online bill payment of at least $50 through the Scotiabank Mobile App or through Scotia OnLine, or
Set up a minimum of two (2) separate eligible recurring pre-authorized transactions† with a minimum value of at least $50 per transaction which will each recur monthly for a minimum of three (3) consecutive months, or
Set up an eligible recurring direct deposit† which will recur monthly for a minimum of three (3) consecutive months.

Includes Regular Interest Rate of 0.15% plus an Interest Rate Boost of 0.10% for Ultimate Package account holders or 0.05% for Preferred Package account holders, 360-Day Premium Period Interest Rate of 1.10%, and a limited time Bonus Interest Rate of 1.35% on New Funds. Regular Interest is calculated daily, paid monthly. Premium Period Interest is earned when you choose a 90, 180, 270 and/or 360-day Premium Period. A longer Premium Period earns a higher Premium Period Interest Rate. Premium Period Interest is calculated daily, paid at the end of the applicable Premium Period. Bonus Interest is calculated daily and payable until August 31, 2020 on the first $5,000,000 of New Funds deposited between April 9, 2020 – August 31, 2020 and will be paid monthly. Interest rates are per annum and subject to change. Visit scotiabank.com/rates for current rates.

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May 2nd, 2020 12:04 am

#2

ryansluman: Sr. Member; May 8, 2013; 682 posts; 620 upvotes; London

May 2nd, 2020 12:04 am

well shit here we go again. thansk op

lets hope the cash comes through this time around tho...

+2

May 2nd, 2020 12:31 am

#3

GaberC: Jr. Member; Jul 16, 2016; 137 posts; 58 upvotes

May 2nd, 2020 12:31 am

So "package" is just a chequing account. So just need to park 4 or 5k for 4 months to get the 300. So I have that right?

May 2nd, 2020 12:57 am

#4

jiajiajia: Newbie; May 3, 2019; 21 posts; 14 upvotes

May 2nd, 2020 12:57 am

Next year, working on TD and Tangerine now.

+3

May 2nd, 2020 1:03 am

#5

John Ber: Jr. Member; Feb 20, 2011; 148 posts; 45 upvotes; Toronto

May 2nd, 2020 1:03 am

Doese account need to be open for a year like RBC to be eligible? Or I can cancel once bonus is received like TD?
Do they do hard pull on opening chequing account?

Last edited by John Ber on May 2nd, 2020 1:12 am, edited 1 time in total.

May 2nd, 2020 1:06 am

#6

ryansluman: Sr. Member; May 8, 2013; 682 posts; 620 upvotes; London

May 2nd, 2020 1:06 am

jiajiajia wrote: ↑Next year, working on TD and Tangerine now.

I'm on TD, tangerine , tangerine cc, and CIBC. Step ur game up. Gonna hope on this as soon as TD pays out I think.

+3

May 2nd, 2020 1:31 am

#7

Next123: Sr. Member; Apr 19, 2012; 713 posts; 183 upvotes; TORONTO

May 2nd, 2020 1:31 am

Thanks op I have been waiting for this

May 2nd, 2020 2:05 am

#8

fury420: Sr. Member; Nov 20, 2009; 617 posts; 135 upvotes

May 2nd, 2020 2:05 am

With their weird "Momentum Saving" rate scheme, the interest rate until Aug 31st works out to just 2.1% using the 90 day term rate.

+1

May 2nd, 2020 2:16 am

#9

Parrajara: Sr. Member; Sep 16, 2019; 982 posts; 1040 upvotes

May 2nd, 2020 2:16 am

Do I understand this correctly?
The first option seems incredibly easier than the other two. Making a payment online and that's it? The third option requires you to have PADs for three months! What's the catch?

+1

May 2nd, 2020 5:06 am

#10

weihui: Newbie; Feb 24, 2016; 99 posts; 817 upvotes; Winnipeg

May 2nd, 2020 5:06 am

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.
General Terms: The $300 cash bonus, as applicable, will be paid into the primary account holder’s Eligible Account within two (2) months following the satisfaction of the Offer conditions outlined above. 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:
It has a negative balance exceeding the authorized overdraft limit, or
If it has been in continuous overdraft for a period of three (3) consecutive months.

Terms and conditions

PM: J5N308

+5

May 2nd, 2020 7:30 am

#11

enhanced: Deal Addict; Aug 4, 2008; 2184 posts; 410 upvotes

May 2nd, 2020 7:30 am

If one has an eligible credit card for the fee discount and at least 5K in cash, this seems to be a no brainier I think.

No monthly fee on the account + discount in annual credit card fee + 2.70% interest on your money is awesome. Not to mention the $300 bonus. Am I missing anything?

Interest on your cash is also nice for those who are afraid to invest in light of COVID.

EDIT: I have a Scotia chequing account so I guess I don't qualify for the $300.00 bonus. I assume the other perks are still in play though, which is not bad.

Last edited by enhanced on May 2nd, 2020 8:43 am, edited 2 times in total.

+1

May 2nd, 2020 7:38 am

#12

lyres1: Newbie; Jul 8, 2017; 36 posts; 47 upvotes

May 2nd, 2020 7:38 am

can you open this completely online, or need to go to the branch?

May 2nd, 2020 8:17 am

#13

Jon Lai: Deal Expert; May 30, 2005; 46684 posts; 7145 upvotes; Richmond Hill

May 2nd, 2020 8:17 am

Safe to assume my $5K will only need to be parked for a few months? Can I safely cancel after that?

Tons of things for sale!
Silver Coins | Philips Wake-Up Light with Radio | OSIM Back Massager | Heatware

May 2nd, 2020 8:33 am

#14

jeeva86: Deal Fanatic; Jul 4, 2005; 7454 posts; 1457 upvotes; Ottawa

May 2nd, 2020 8:33 am

What if you applied to open online and they stated to come into the branch to finish the application? I never ended up going, but would I have been an account holder and thus ineligible?

Heatware

+1

May 2nd, 2020 10:15 am

#15

ysg103907: Banned; Aug 2, 2015; 321 posts; 505 upvotes; Toronto

May 2nd, 2020 10:15 am

I believe you can double dip with GCR offer. For example, Ultimate Package has $40 GCR + $300 bonus offer.

On top of that, apply for credit card through GCR and link to your chequing account and get annual fee waived. (which I've done in the past and it works).

+10

May 2nd, 2020 10:37 am

#16

EDL67134234: Deal Addict; Feb 10, 2018; 1468 posts; 973 upvotes

May 2nd, 2020 10:37 am

ysg103907 wrote: ↑ I believe you can double dip with GCR offer. For example, Ultimate Package has $40 GCR + $300 bonus offer.

On top of that, apply for credit card through GCR and link to your chequing account and get annual fee waived. (which I've done in the past and it works).

I got this promo in the past.

$300 got credited after 4 months.

Free waiver, safety deposit box and 5 free trades in the second year on Itrade are great.

Scotia Amex is a fantastic card too.

I think some people applied for a Scotia Ultimate Plan first, and applied for GCR on Scotia Momentum/ AMEX Gold after

That is a great way to double dip on top of the existing bonuses on Momentum's 10% for 2k spend and $200 bonus on Scotia Amex if you were going to get the card anyway.

May 2nd, 2020 11:32 am

#17

ysg103907: Banned; Aug 2, 2015; 321 posts; 505 upvotes; Toronto

May 2nd, 2020 11:32 am

Best value is to go with Scotiabank Passport™ Visa Infinite* Card. 30K Points + GCR $55.

+1

May 2nd, 2020 11:51 am

#18

Bigboy16: Deal Addict; Nov 16, 2016; 1642 posts; 1945 upvotes; Edmonton, AB

May 2nd, 2020 11:51 am

John Ber wrote: ↑ Doese account need to be open for a year like RBC to be eligible? Or I can cancel once bonus is received like TD?
Do they do hard pull on opening chequing account?

It's 2 months after you complete the requirements. And you gotta keep the requirements for a minimum of 3 months. Takes most people 2 months to line everything up and have the PADs started, so a total of 7 months is what it'll come out to.

May 2nd, 2020 11:52 am

#19

redflag0: Sr. Member; Apr 13, 2016; 539 posts; 353 upvotes

May 2nd, 2020 11:52 am

Bigboy16 wrote: ↑ It's 2 months after you complete the requirements. And you gotta keep the requirements for a minimum of 3 months. Takes most people 2 months to line everything up and have the PADs started, so a total of 7 months is what it'll come out to.

wouldn't it be 4-5 months based on what you've described?

May 2nd, 2020 12:01 pm

#20

Dave510: Deal Addict; Oct 12, 2008; 2264 posts; 4977 upvotes; Markham

May 2nd, 2020 12:01 pm

redflag0 wrote: ↑ wouldn't it be 4-5 months based on what you've described?

2 months to "line things up", 3 months to satisfy requirements, 2 months after completing requirements = 7. You can do it in 4-5 if you can line things up right away and Scotia deposits earlier than 2 months.