Finances
Scotiabank Preferred Package Account Review
In this Scotiabank Preferred Package review you will find out whether this account is for you and what you can expect from it.
Advertisement
Get rewards with every $5 spent and unlimited interac e-transfers!
In this Scotiabank Preferred Package review, we explore the account’s features and benefits. Ideal for those seeking comprehensive banking solutions.
From fee waivers to welcome bonuses, we cover every aspect to help you decide if it’s the right fit for your banking needs. So read on to learn more about it!
How to apply for the Scotiabank Preferred Package
Learn how to apply for a Scotiabank Preferred Package in just a few easy steps!
| ATM Fees | Account holders are entitled to one free non-Scotiabank ATM withdrawal per month in Canada. After this, there may be fees for using non-Scotiabank ATMs. |
| Minimum balance | To waive the monthly account fee, you need to maintain a minimum daily closing balance of $4,000 for the entire month. |
| Monthly fee | The account has a monthly fee of $16.95. However, this fee can be waived if the required minimum balance is maintained throughout the month. |
Scotiabank Preferred Package: how does it work?
Firstly, the Scotiabank Preferred Package is a premium account offering unlimited transactions. It’s ideal for those with frequent banking needs.
Secondly, the account has a $16.95 monthly fee, waivable by maintaining a $4,000 minimum balance. This makes it cost-effective for regular users.
Thirdly, the package includes one free monthly non-Scotiabank ATM withdrawal in Canada, adding convenience for those on the go.
Additionally, the account offers attractive welcome bonuses and rewards, making it a lucrative choice for new customers.
Finally, it features extra perks like fee waivers on select credit cards, enhancing its overall value for users.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
Scotiabank Preferred Package: should you start banking with it?
Enough talking about all the features in detail. It’s time to put the most important favorable and unfavorable points together for comparison. See what the pros and cons are next in our Scotiabank Preferred Package review.
Pros
- Offers unlimited debit and Interac e-Transfer transactions.
- Monthly fee of $16.95 can be waived with a $4,000 minimum balance.
- Attractive bonuses for new account holders.
- Fee waivers on select Scotiabank credit cards.
- Convenience for cash access.
- Additional interest on the Momentum PLUS Savings Account.
- Reduced fee for international money transfers.
- Easy access to banking services digitally.
Cons
- Monthly fee if you don’t maintain the minimum balance.
- Fees apply after the first free monthly withdrawal.
- The chequing account does not earn interest.
- Requires a $4,000 balance to avoid fees.
- Only one free withdrawal per month.
- Welcome bonuses require fulfilling specific criteria.
- Fee waivers limited to certain credit cards.
- Benefits may vary based on location and ATM availability.
Does it check credit scores?
The Scotiabank Preferred Package account does not require you to have a good credit history. In fact, the bank won’t run credit checks on you to open your account.
But if you like to keep an eye on your credit score, this account offers a free credit score check.
Want to open a Scotiabank Preferred Package account? We will help you!
To open a Scotiabank account you must fill out their online application on Scotiabank’s website. Moreover, the application takes around 5 minutes to complete.
Additionally, all you need is your basic personal information including date of birth, email address, and a few other things.
So if you’d like a more complete walkthrough of the application process, hit the link below and we’ll take you there.
How to apply for the Scotiabank Preferred Package
Learn how to apply for a Scotiabank Preferred Package in just a few easy steps!
About the author / Danilo Pereira
Trending Topics
ClearMoneyLoans.com review: how does it work and is it good?
Get to know a personal loan lender platform that accepts different credit scores. Read on to a ClearMoneyLoans.com review.
Keep Reading
Apply for the Ascent Student Loans: fast and simple
Here is a guide to apply for Ascent Student loans and enjoy its flexible financing options. Build credit and enjoy a hassle-free process!
Keep Reading
Mogo Prepaid Card Review
Read our Mogo Prepaid Card review to learn how this product can help you reduce your carbon footprint and manage your spending.
Keep ReadingYou may also like
How to build credit fast from scratch with our tips for beginners!
Learn how to build credit and get the best offers from lenders and credit card issuers. This can make a difference in achieving your plans.
Keep Reading
More than $5.8 billion of student loans canceled by the Biden administration
The Biden administration just canceled over 560,000 federal student loans with the biggest loan forgiveness to date. Read on for more!
Keep Reading
How to buy cheap flights on Kayak
Do you want to save big on your flights? Check out how to buy cheap flights using Kayak. Flights from $29.99! Read on!
Keep Reading