Scotiabank Preferred Package Chequing account review
Are you searching for an account full of benefits and perks, such as online banking, free credit score checks, and more? Then, check out the Scotiabank Preferred Package Chequing account review!
by Aline Augusto
Scotiabank Preferred Package Chequing account: no monthly fee with a minimum daily closing balance
Scotiabank is a financial institution full of services and products. No matter if you are a resident in Canada or have just arrived in the country, this bank has something designed for you to help you out! So, check out this Scotiabank Preferred Package Chequing account review!
Today, we will show you how the Preferred Package Chequing account works and what you can earn by opening one.
So, please keep reading to learn all about it.
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How does the Scotiabank Preferred Package Chequing account work?
This account is a perfect fit for those who want to take advantage of packages and perks. It offers convenience to accomplish the customers’ everyday banking needs.
Let’s take an inside look at its features, then.
Firstly, you earn a $300 welcome bonus as a new account member. Secondly, you get unlimited debit transactions, as well as unlimited Interac e-Transfer transactions.
Thirdly, this account is eligible for overdraft protection and other package perks, as follows right below:
- Additional 0.05% interest on your Momentum Plus Savings Account;
- Preferred rates on select GICs;
- No monthly fee on a Scotia® U.S. Dollar Daily Interest Account;
- Fee waived on 1 non-Scotiabank ABM withdrawal per month in Canada;
- Fee waived on select credit cards in the first year, up to $139.
Also, you can get rewards through the Scene+TM Program. In summary, you earn 1 Scene+ point for every $5 spent on purchases and 1 Scene+ point for every $1 spent at Cineplex. And you can redeem these points for shopping, travel, dining, banking, entertainment, and more.
Moreover, as a Scotia account, it provides free credit score checks, a mobile app, online banking, mobile cheque deposits, Visa Debit and Interac Flash payment options, and Apple Pay, Google Pay, and Samsung Pay connection.
Finally, all these benefits come with a $16.95 monthly fee that can be waived if you maintain a minimum daily closing balance of $4,000 for the entire month.
Scotiabank Preferred Package Chequing account benefits
Besides the fact you earn a great bonus when opening a Scotia account, this Preferred Package Chequing gives you some perks you can really enjoy.
For example, the Scene+TM Program offers points that can be redeemed for many options, including shopping and traveling.
Also, this account is eligible for some extra packages like protection, an additional interest rate on savings and select GICs, fees waived for some credit cards, and a non-Scotiabank ABM withdrawal per month.
Plus, you get unlimited transactions like Visa Debit and Interac Flash payment options, bill payments, cash withdrawals, transfers, and more.
- The monthly fee can be waived;
- Fee waived for select credit cards and 1 non-Scotiabank ABM withdrawal per month in Canada;
- Free and unlimited debit and e-Transfer transactions;
- Free credit score checks;
- Access to a mobile app, online banking, Apple Pay, Google Pay, and Samsung Pay;
- Scene+TM Program, with points on every $5 spent on purchases;
- Preferred rates on select GICs and savings account.
- It charges a monthly fee that can be waived if you maintain a minimum daily closing balance of $4,000 for the entire month.
How good does your credit score need to be?
We couldn’t determine a credit score recommended to open an account. However, note that it only requires that you are a Canadian resident or an international student or worker at least 16 years old.
How to apply for a Scotiabank Preferred Package Chequing account?
If you decide to open an account at Scotiabank to earn points and perks, check out how to apply for a Scotiabank Preferred Package Chequing account here!
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