ScotiaConnect® electronic banking




Electronic banking





Online banking, similar to what is available with personal accounts, is available at no charge with many business account plans.  Scotiabank’s online banking allows multiple users to access the account, pay bills online and send Interac e-Transfers. Of note, the charge for an Interac e-Transfer is only $1 at Scotiabank.

ScotiaConnect® electronic banking is more than online banking. It’s for businesses of every size that require more sophisticated online cash management. CFIB members receive a 20% discount* on the standard monthly fees for any ScotiaConnect® plan.

+Overview

  • View, download and print comprehensive reports
  • Download balance, transaction and payment details
  • Reconcile accounts with reports of cleared and outstanding items
  • Send and receive payments and collections domestically and around the world

Notes: Not all services are included with every ScotiaConnect® package. Additional fees are required for some services.

+Cash management

  • Transfer funds between Scotiabank accounts, make payments and pay bills online
  • Send wire payments to most major financial institutions around the world
  • Initiate recurring Canadian and US dollar electronic funds transfer (EFT) payments (payables and receivables)
  • Create templates with a pre-approved dollar limit
  • View cleared cheque images online for up to 90 days
  • Link to other business banking services, including Trade Finance, Scotia FX and Government Tax Payments

Notes: Not all services are included with every ScotiaConnect® package. Additional fees are required for some services.

+Control

  • Decide on an appropriate level of control for your business
  • Separate payment creation and approval functions
    • e.g. Approval might be limited to yourself or to your comptroller
  • Monitor user activity with audit log and activity history
  • Benefit from industry-leading security and protection of information

Notes: Not all services are included with every ScotiaConnect® package. Additional fees are required for some services.


Through ScotiaConnect® you can use electronic funds transfers (EFTs) to send funds or receive recurring payments online. You can deposit electronically into a supplier’s bank account.

EFTs and Interac e-Transfers each have their respective benefits. For Interac e-Transfers you don’t need the account information of the recipient. EFTs, on the other hand, allow for easier tracking of multiple transfers and are not subject to the transaction limits of Interac e-Transfers. Interac e-Transfers and EFTs are now affordable and viable replacements to cheques for businesses of any size.

Own a small business and want to learn more?

  • Visit sba.scotiabank.com to find a Small Business Advisor near you.
  • Let them know your business is a CFIB member, or that you’re considering joining CFIB.
  • Ask to be shown how both quality advice and services at reduced costs for CFIB members can improve your bottom line.

* Businesses with annual revenue over $15,000,000 or with borrowing needs over $500,000 are defined as commercial banking clients by Scotiabank. ScotiaConnect® is available to commercial banking clients, but the 20% discount does not apply. For commercial banking, pricing on these products varies per business and is negotiated on a case by case basis. Commercial banking clients should contact their relationship manager.
®  Registered trademarks of The Bank of Nova Scotia.

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