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Scotiabank

Scotiabank Preferred Package Chequing - $300 Welcome, 1.75% Savings + $60 GCR

  • Last Updated:
  • May 20th, 2021 8:08 pm
[OP]
Newbie
Mar 14, 2018
33 posts
125 upvotes

[Scotiabank] Scotiabank Preferred Package Chequing - $300 Welcome, 1.75% Savings + $60 GCR

Deal Link:
Expiry:
May 30, 2021
Retailer:
Scotiabank
More offers from Scotiabank
The promotion savings interest 1.75% is in limited time, but I didn't find until when.
Monthly fee is waived with balance greater than $4,000. But I am not sure whether the $4,000 must be kept in the chequing account.
I don't find how long the account need to be kept open either.

I never have bank accounts with Scotiabank. I have some credit cards with them but had some bad experience when trying to get their promotion offers.

This promotion looks good. Does anyone have experience with their banking and what pitfalls could be in this deal?
10 replies
Jr. Member
Oct 21, 2018
143 posts
327 upvotes
Nice. looks like gcr increased the rebate. It was 40 for ultimate package a few days ago when I opened.
Deal Addict
User avatar
Feb 13, 2007
2548 posts
1306 upvotes
NevAnEver wrote: Nice. looks like gcr increased the rebate. It was 40 for ultimate package a few days ago when I opened.
Ultimate package is $65 this month. OP posted $60 for is preferred package.
PSN: Sakaban
Deal Addict
Jun 4, 2012
4675 posts
4167 upvotes
Fyi... You must maintain the $4k balance at all times to waive the monthly fee.

Personally I would go for the Ultimate Package and keep $5k... You get a lot more benefits with that plan if you want to stay with BNS
Deal Addict
User avatar
Jul 16, 2012
1630 posts
1169 upvotes
Vancouver, BC Canada
muffin4life wrote: Fyi... You must maintain the $4k balance at all times to waive the monthly fee.

Personally I would go for the Ultimate Package and keep $5k... You get a lot more benefits with that plan if you want to stay with BNS
Yeah I noticed on my mother's account they charge even for seniors package now although there is a monthly $4 credit.
Deal Addict
User avatar
Apr 12, 2013
2920 posts
1904 upvotes
Moon
I need cheques... is the 5k ultimate pkg better for BNS or TD all inclusive? I am already with TD btw.
Koodo, Public Mobile, Lucky Mobile Customer
Deal Addict
Aug 12, 2010
1381 posts
1575 upvotes
Earth
rainclear wrote: I never have bank accounts with Scotiabank. I have some credit cards with them but had some bad experience when trying to get their promotion offers.
I have banked with Scotiabank over 40 years, and had nothing but problems! When my mother died I spent 2 years trying to close her credit cards with Scotia resulting in incidents that included, but not limited to: sending me a letter saying her accounts are indeed closed only for me to get over 100 notices of her balance of $0 + annual feeds pending to one representative telling me she still needs to go to her designated branch. (3000km from her grave) I went through the office of the president and ombudsmen, think the fixed it, but damn 2 years of WTH???
Zoomer: 1 account for family and planning to leave for good in 2023
Koodo too: for a phone and locked to 24 months but was a good deal.
[OP]
Newbie
Mar 14, 2018
33 posts
125 upvotes
geoffs wrote: I have banked with Scotiabank over 40 years, and had nothing but problems! When my mother died I spent 2 years trying to close her credit cards with Scotia resulting in incidents that included, but not limited to: sending me a letter saying her accounts are indeed closed only for me to get over 100 notices of her balance of $0 + annual feeds pending to one representative telling me she still needs to go to her designated branch. (3000km from her grave) I went through the office of the president and ombudsmen, think the fixed it, but damn 2 years of WTH???
Oh man. I think you may need to switch a bank. My personal experience with CIBC and TD is good. My parents are with CIBC and CIBC waives fees for seniors.
Deal Addict
Aug 12, 2010
1381 posts
1575 upvotes
Earth
rainclear wrote: Oh man. I think you may need to switch a bank. My personal experience with CIBC and TD is good. My parents are with CIBC and CIBC waives fees for seniors.
Actually I am with CIBC too...been ok
Zoomer: 1 account for family and planning to leave for good in 2023
Koodo too: for a phone and locked to 24 months but was a good deal.
Deal Addict
May 26, 2011
1207 posts
898 upvotes
I was originally going for BMO, but I've noticed Ultimate gives 10 free trades with iTrade, sounds like a good deal to try it out. I just checked it's been more than 2 years from last churn, I'm good to go. I haven't looked at their credit card yet, but annual fee rebate seems good, as I don't think they're giving any first year free offer at the moment.

It doesn't look like there's no minimum term requirement, it says we get paid within 6 mo from the account opening, so we should be able to close soon as we get paid. The last time I did, I opened my account in June, then closed in March the following year. I would've closed earlier if there was no problem with the payout: I had to fight for it.
Sakaban wrote: Ultimate package is $65 this month. OP posted $60 for is preferred package.
cashback.highintrestsavings.ca is giving out $70 etransfer or $75 Amazon GC for Ultimate, $65 etransfer or $70 Amazon GC for Preferred. I like HIS better than GCR, because their payout by etransfer was a month or 2 quicker than GCR last time I signed up with a product there.
kangarooz wrote: I need cheques... is the 5k ultimate pkg better for BNS or TD all inclusive? I am already with TD btw.
If cheque books are all you need, go for Simplii Financial, instead. Unlimited free chq books. Get a referral from your friend for a $50 bonus, do a direct deposit for a while for an additional $200 bonus. Unlimited free ATM access with CIBC. Occasional high interest saving rate promos. No monthly fees, no minimum balance required (except when you get a referral bonus, I think the minimum is $100).
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