Scotiabank at a Glance
| Feature | Details |
|---|---|
| Full name | Bank of Nova Scotia |
| Founded | 1832 |
| Headquarters | Toronto, Ontario |
| Branches | 950+ |
| ATMs | 3,600+ |
| CDIC insured | ✅ Yes |
| Loyalty program | Scene+ |
Chequing Accounts
| Account | Monthly Fee | Fee Waiver | Transactions |
|---|---|---|---|
| Basic Bank Account | $3.95 | $2,000 balance | 12/month |
| Preferred | $16.95 | $4,000 balance | Unlimited |
| Ultimate | $30.95 | $6,000 balance | Unlimited + extras |
Credit Cards
| Card | Annual Fee | Key Benefit |
|---|---|---|
| Scotiabank Momentum VI | $120 | 4% groceries, gas, dining, bills |
| Scotia Gold Amex | $120 | 5x Scene+ on groceries, dining |
| Scotiabank Value Visa | $29 | No annual-fee alternative |
| Scene+ Visa | $0 | Earn Scene+ with no fee |
Pros and Cons
| Pros | Cons |
|---|---|
| Scene+ rewards ecosystem | Monthly fees similar to competitors |
| Top cash back card (Momentum VI) | Scene+ options limited vs cash back |
| Large branch network | International exposure adds risk |
| Scotia iTRADE for investing | App slightly behind RBC/TD |
Who Should Bank with Scotiabank
| Profile | Recommendation |
|---|---|
| Want top cash back card | ✅ Momentum VI is top-tier |
| Movie/entertainment lover | ✅ Scene+ has perks |
| Want in-person banking | ✅ 950+ branches |
| Want lowest fees | ❌ Choose online banks |