[Scotiabank] Scotiabank chequing account fee no longer waived

I know I might get down vote as this isn’t a hot deal. However it may help few fellows and how Scotiabank communicate their fees change is nothing shy of shady.

Scotiabank is making a significant change to how you waive the monthly fee for the Ultimate Package.

What you need to waive the fees
Effective March 20, 2026, the $6,000 minimum chequing balance option is being removed. To waive the $30.95 monthly fee, you will instead need:

$100,000 Total Relationship Balance: You must maintain a minimum daily closing balance of $100,000 or more across your “Eligible Accounts” for the entire month.

What counts toward the $100,000?
The “Total Relationship Balance” is the combined total of your daily closing balances in:

Chequing accounts

Savings accounts (like MomentumPLUS)

GICs

Mutual Funds (including Scotia Registered and Investment Accounts)

Note: Scotia iTRADE accounts are specifically excluded from this calculation.

Other Key Changes in Your Document
Safety Deposit Box (March 20, 2026): The waiver is increasing from a $60 credit to a full waiver for a small box (valued at $80/year).

Interest Rate Boosts (June 22, 2026): The “Ultimate Interest Rate Boost” on MomentumPLUS savings and the “Ultimate Rate” on GICs will no longer be offered.

Student/Youth Age Limit (March 31, 2026): The age for the $0 fee Preferred Package for Students and Youth is being extended from 23 to 25 years old.

Statistics: Posted by chinook79 — Jan 15th, 2026 4:14 pm

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