What is the monthly fee for a Scotiabank chequing account?

Scotiabank chequing monthly fees range from $0 (Day to Day, which charges $1.25 per transaction instead) to $30.95 (Ultimate Package, unlimited transactions plus extras). The most commonly held account — Preferred Package — costs $16.95/month and is waived when you maintain a $4,000 minimum daily balance. Basic Bank Account costs $3.95 with a $2,000 balance waiver. Unlike most Big Five banks, Scotiabank offers a zero monthly-fee option via the Day to Day account, though the per-transaction model costs more for active users.

What is the Scotiabank NSF fee?

Scotiabank charges a $45 NSF (non-sufficient funds) fee each time a payment is returned due to insufficient funds in your account. This is one of the higher NSF fees among the Big Five — TD charges $35, and RBC also charges $45. The federal government capped NSF fees at $48 for federally regulated banks in 2024. Scotiabank overdraft protection is available for $5/month and covers shortfalls to your approved overdraft limit, preventing NSF fees.

Does Scotiabank charge for e-Transfers?

Interac e-Transfers are included free with Scotiabank Preferred Package, Ultimate Package, and Student Account. Day to Day Banking and Basic Bank Account clients pay $1.25 per outgoing e-Transfer (Day to Day: each e-Transfer is a transaction; Basic: counted against the 12-transaction monthly allowance). Receiving an e-Transfer is always free.

What are Scotiabank foreign transaction fees?

Scotiabank charges a 2.5% foreign currency conversion fee on purchases and ATM withdrawals in currencies other than Canadian dollars. This applies to Scotiabank debit card purchases abroad and to international ATM withdrawals. The exception is the Scotiabank Passport Visa Infinite credit card, which waives the foreign transaction fee entirely — one of the key reasons to hold that card for international travel.

What does the Scotiabank Ultimate Package include?

The Scotiabank Ultimate Package costs $30.95/month (waived with $6,000 minimum daily balance) and includes unlimited transactions, unlimited e-Transfers, free certified cheques, free bank drafts, free money orders, a 25% discount on safe deposit box rental, overdraft protection, and a no-fee US dollar account. For clients who regularly use multiple paid services (bank drafts at $7.50, certified cheques at $10, etc.), the package can provide net savings — particularly for clients involved in real estate transactions or small business use.

How do I avoid Scotiabank monthly account fees?

Maintain the minimum daily balance for your account plan throughout the full calendar month: $2,000 for Basic Bank Account, $4,000 for Preferred Package, $6,000 for Ultimate Package. The fee waiver is automatic when the threshold is met. Students qualify for a free Student Account. Newcomers to Canada receive free banking for the first year through the StartRight program. Alternatively, the Day to Day Banking account has no monthly fee but charges $1.25 per transaction.

Scotiabank Fees 2026 | Monthly, NSF, Wire Transfer & Service Fees

Scotiabank’s fee structure is broadly aligned with the other Big Five banks — tiered monthly fees with balance-based waivers, NSF fees, and charges for international transactions. The NSF fee of $45 is among the higher rates in the Big Five (TD is $35), and the Day to Day account’s per-transaction model is an unusual option not offered by most competitors. The Ultimate Package at $30.95 bundles several services that would otherwise carry individual fees, which can justify its cost for clients who hold the $6,000 balance threshold.

Monthly Account Fees

Account	Monthly Fee	Fee Waiver Balance	Transactions Included
Day to Day Banking	$0	None	$1.25 each
Basic Bank Account	$3.95	$2,000 min. daily balance	12/month then $1.25 each
Preferred Package	$16.95	$4,000 min. daily balance	Unlimited
Ultimate Package	$30.95	$6,000 min. daily balance	Unlimited + extras
Student Account	$0	No requirement	Unlimited
StartRight (newcomer, year 1)	$0	No requirement	Unlimited

Service and Transaction Fees

Everyday Banking Fees

Fee Type	Amount
Interac e-Transfer (Day to Day / Basic over-limit)	$1.25 each
Non-Scotiabank ATM withdrawal (Canada) — Scotiabank fee	$2.00
Non-Scotiabank ATM withdrawal — operator surcharge	$2.00–$3.00
Non-Scotiabank ATM withdrawal (international)	2.5% FX + operator surcharge
Paper statement	$2.25/month (waived with eStatements)
Cheque image retrieval	$5.00 per image
Stop payment order	$12.50
Certified cheque	$10.00 (free with Ultimate Package)
Bank draft	$7.50 (free with Ultimate Package)
Money order	$7.50 (free with Ultimate Package)

Overdraft and NSF Fees

Fee Type	Amount
NSF (returned payment)	$45.00
Overdraft protection monthly fee	$5.00/month
Overdraft interest rate	~21% per annum on overdrawn balance

Scotiabank’s $45 NSF fee is one of the highest in the Big Five — TD charges $35. For clients who occasionally have a payment returned, the $5/month overdraft protection plan pays for itself with a single prevented NSF incident.

Wire Transfer Fees

Transfer Type	Fee
Domestic wire (outgoing)	~$25.00
International wire (outgoing)	~$40–$65
International wire (incoming)	~$15.00

See the full Scotiabank wire transfer guide for limits and processing times.

Foreign Currency Fees

Fee Type	Amount
Foreign currency purchase (Visa debit)	2.5% of transaction
Foreign ATM withdrawal	2.5% of withdrawal
USD account transactions (Ultimate Package)	No FX fee for USD purchases

The Scotiabank Passport Visa Infinite credit card waives the 2.5% foreign transaction fee — one of the most material benefits of that card for clients who travel internationally.

Credit Card Annual Fees

Card	Annual Fee
Scene+ Visa	$0
Scotiabank Value Visa	$29
Scotiabank Momentum Visa Infinite	$120
Scotiabank Gold American Express	$120
Scotiabank Passport Visa Infinite	$139
Scotiabank Platinum American Express	$399

Scotia iTRADE Investing Fees

Fee Type	Amount
Standard equity trade	$9.99
Active trader equity trade (150+ trades/quarter)	$4.99
Options (base + per contract)	$9.99 + $1.25/contract
Mutual fund purchase	$0 (no-load funds)
Account administration fee	$25/quarter (waived at $15,000+ balance)
RRSP/TFSA administration fee	$25/year (waived at $15,000+)

How to Avoid Scotiabank Fees

Fee	How to Avoid
Monthly account fee	Maintain minimum daily balance for your plan
e-Transfer fee (Day to Day / Basic)	Upgrade to Preferred Package
Paper statement fee	Switch to eStatements in Scotia OnLine
Non-Scotiabank ATM fee	Use Scotiabank ATMs (3,600+ across Canada, including Sobeys/Safeway)
Foreign transaction fee	Use Scotiabank Passport Visa Infinite (no FX fee)
NSF fee	Enable overdraft protection ($5/month)
Bank draft fee	Ultimate Package includes free bank drafts
Certified cheque fee	Ultimate Package includes free certified cheques
US dollar transaction fee	Ultimate Package includes a no-fee US dollar account

Fee Schedule Changes

Scotiabank updates its fee schedule periodically. Figures on this page were accurate as of May 2026. For the most current rates, refer to the Scotiabank Personal Banking Fee Schedule at scotiabank.com or request a copy at any Scotiabank branch. Under FCAC regulations, Scotiabank must provide 30 days’ notice before any fee increases.