Let your business thrive with Scotiabank

Business Operating Accounts

• $300 welcome bonus¹
• Minimum monthly fee waived on the Right Size Account for business⁴
• Monthly maintenance fee waived on the Basic Business Account (CDN & USD) ⁵
• 20% off the monthly fee on the Select Account for business⁶
• 20% off a Scotia One Account Plan for agriculture⁷
• A free ChequeEssentials Kit when opening a new business operating account 

Credit Lines & Term Loans

• 0.25% interest rate discount up to Prime² on select variable rate term loans³
• Reduced setup fees for all business term loans and credit lines¹¹
  

Credit Card (for Commercial clients only)

• Annual fee waived for the first year for up to two cards on the Scotiabank Visa Business Card¹²
  

Cash Management

•  20% discount off the monthly fee⁸ for standard ScotiaConnect® plans (Basic, Standard, Premium, Ultimate) ⁹

Agricultural Switch Incentive Program

• Incentive to offset appraisal, legal and other associated costs up to 0.5%, to a maximum of $5,000, of new funds or initial utilization of the term portion on the following eligible products:
  • Scotia Farm Mortgage Loan or Non-revolving term loan secured by a collateral MTG over farm real estate¹³
  • Scotia Farm Legacy Mortgage¹⁴
  • Scotia Flex for agriculture ¹⁵

New Scotiabank clients get the first 12 months free on the following accounts: Ultimate Package, Basic Plus Bank Account, Preferred Package¹⁰

CFIB members who combine the benefits of Scotiabank and Chase Payment Solutions can save up to $480¹⁶ each year with a $40¹⁶ monthly fee waiver on the Select Account for business Plan B¹⁷ when you open a Chase Merchant Services¹⁸ account¹⁹.

¹ To qualify for the $300 cash bonus offer (the “Offer”) for the Select Account for business or Scotia Professional Plan Plus account you must:

1. Open a new Select Account for business or Scotia Professional Plan Plus account (the “Eligible Account”) between September 1, 2025 and October 31, 2030 and
2. Complete a minimum of fifteen (15) transactions in your Eligible Account within the first 90 days of account opening (for a full list of possible transactions for Eligible Accounts, please refer to “Your Guide to Fees and Interest Schedules”).

Eligibility and Exclusions: The Offer is only available to individuals who are members of CFIB and excludes the following:

• Business customers who are currently holders of a Select Account for business or Scotia Professional Plan Plus Account are not eligible for the Offer
• Business customers who were previously holders of a Select Account for business or Scotia Professional Plan Plus Account within the last two (2) years are not eligible for the Offer
• New Business Customers who are not CFIB members
• Commercial Banking customers

General Terms: If you meet the conditions for the $300 cash bonus, the $300 cash bonus will be deposited to the Eligible Account within approximately six (6) months from Eligible Account open date provided all Offer conditions outlined herein have been met. The Eligible Account must be open and in good standing at the time of payout of the cash bonus. The Eligible Account is not in “good standing” if: (i) it has a negative balance exceeding the authorized overdraft limit, or (ii) it has been in continuous overdraft for a period of three consecutive months.
The Offer is non-transferable and may not be duplicated. Limit of one (1) Offer per customer, regardless of the number of Eligible Accounts opened. If more than one (1) Eligible Account is opened, only the first Eligible Account opened will be eligible for the Offer. All rates, fees, features, and benefits are subject to change.
The Offer may be changed, cancelled, or extended at any time without notice and cannot be combined with any other offers except as otherwise permitted. By opening an eligible Account and participating in this Offer, you acknowledge that you have read and agree to all of the Offer terms and conditions.

² Prime Rate is the prime lending rate of The Bank of Nova Scotia as published from time to time and is subject to change without notice. The interest rate is variable and will vary automatically when Scotiabank's Prime Rate changes. Scotiabank Prime Rate as of July 13th, 2023 is 7.20%. You can find the current Scotiabank Prime lending rate here.

³ Subject to credit approval and security provided (if applicable). Excludes specialty term loans including Investment Property Lending, Scotia Professional Plan, other government backed term loans or future programs. 

⁴ The monthly account fee is waived for active CFIB members in good standing on one (1) Right Size Account for Business (“Account”). The monthly account fee will be waived and will not appear as a charge on your Account provided the Account is open and in good standing at the time of the waiver. All other applicable service charges on the Account will continue to be applied. The monthly account fee will begin to apply if you are no longer a CFIB member in good standing. Maximum one (1) offer per customer regardless of the number of Accounts opened. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice. Please refer to Scotiabank’s “Your Guide to Schedule of Fees” for full descriptions of Account fees and what is included in Account plan.

⁵ The monthly account maintenance fee is waived for active CFIB members in good standing on one (1) Basic Business Account CAD and/or (1) Basic Business Account (USD) (“Account”). The monthly account maintenance fee will be waived and will not appear as a charge on your Account provided the Account is open and in good standing at the time of the waiver. All other applicable service charges on the Account will continue to be applied. The monthly account maintenance fee will begin to apply if you are no longer a CFIB member in good standing. Maximum one (1) offer per customer regardless of the number of Accounts opened. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice. Please refer to Scotiabank’s “Your Guide to Schedule of Fees” for full descriptions of Account fees and what is included in Account plan.

⁶ Active CFIB members in good standing will receive a 20% discount on the standard monthly account fee on one (1) Select Account for business (“Account”), regardless of plan option chosen, provided the Account is open and in good standing at the time the fee is applied. All other applicable service charges on the Account will continue to be applied at the regular rates. The regular monthly account fee will begin to apply if you are no longer a CFIB member in good standing. Maximum one (1) offer per customer regardless of the number of Accounts opened. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice. Please refer to Scotiabank’s “Your Guide to Schedule of Fees” for full descriptions on Account Fees and what is included in the Account plan.

⁷ Active CFIB members in good standing will receive a 20% discount on the standard monthly account fee on one (1) Scotia One Account for Agriculture (“Account”) provided the Account is open and in good standing at the time the fee is applied. All other applicable service charges on the Account will continue to be applied at the regular rates. The regular monthly account fee will begin to apply if you are no longer a CFIB member in good standing. Maximum one (1) offer per customer regardless of the number of Accounts opened. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice. Please refer to Scotiabank’s “Your Guide to Schedule of Fees” for full descriptions on Account fees and what is included in the Account plan.

⁸ Active CFIB members in good standing will receive a 20% discount on the standard monthly fee for a ScotiaConnect plan (“Plan”), regardless of plan option (Basic, Standard, Premium, Ultimate). All other applicable service charges on the Plan will continue to be applied at the regular rates. The regular Plan monthly fee will begin to apply if you are no longer a CFIB member in good standing. Maximum one (1) offer per customer regardless of the number of Plans. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice. Please refer to Scotiabank’s “Your Guide to Schedule of Fees” for full descriptions on Account Fees and what is included in the Account plan.

⁹ Services include Balance Management, Balance Consolidation, Cash Concentration, Electronic Cheque Services, Night Deposit, Bill Payments and Government Tax Payment and Filing. Scotiabank Cash Management services are subject to individual agreements and applicable service fees.

¹⁰ The monthly account fee is waived for eligible active CFIB members in good standing for the first 12 months on one (1) of the following accounts (each an “Account”): Preferred Package, Ultimate Package, Basic Plus Bank Account or Basic Bank Account. The monthly account fee will be waived and will not appear as a charge on your Account provided the Account is open and in good standing at the time of the waiver. All other applicable service charges on the Account will continue to be applied. The monthly account fee will begin to apply if you are no longer a CFIB member in good standing. Individuals who are currently or who were previously holders of any of the above listed Accounts within the last two (2) years are not eligible for the Offer. Maximum one (1) offer per customer regardless of the number of Accounts opened. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice.

¹¹ Cannot be combined with other pricing or fee offers. Setup fee reduction is up to a maximum of $250 per business customer.

¹² Subject to credit approval. Active CFIB members in good standing will receive a first-year annual fee waiver on up to two (2) Scotiabank Visa Business credit card accounts (each an “Account”) provided the Account remains open and in good standing at the time of the waiver. The Account is considered in good standing if it is not delinquent (past due) or over limit and there is no breach of the Revolving Credit Agreement or any other agreement(s) that applies to the Account. The Account will only receive one Annual Fee Waiver regardless of the number of accountholders on the Account. All other fees and charges applicable to the Account continue to apply. Individuals who are currently or were previously cardholders of a Scotiabank Visa Business credit card in the past 2 years are not eligible for the Offer. This offer is non-transferable and cannot be combined with any other Account annual fee waiver offer. Current annual fees, rates and other features for the Account are subject to change.

¹³ Scotia Farm Mortgage Loan - Subject to credit approval. Conditions apply. 

¹⁴ Scotia Farm Legacy Mortgage - Subject to credit approval and security provided. Conditions apply.

¹⁵ Scotia Flex for agriculture - Subject to credit approval, eligible security required, and must be part of the ScotiaFlex for agriculture program. Conditions apply.

¹⁶  This Merchant Services Offer (the “Offer”) is available to customers who accept it by signing an offer letter and who, on or after September 12, 2023, have or open a Select Account for business Plan B (“Account”) and are signed up with Chase for Merchant Services ("Eligible Customers"). To qualify for a monthly fee waiver on your Account, Eligible Customers must use their Account to settle their Chase deposit transaction(s). If there is no Chase deposit settled and posted in the Account during any month, the monthly Account fee will not be waived for that month. To receive a waiver of the monthly Account fee, the Account must be open and in good standing at the time of the waiver.  An Account is considered in good standing if there is no breach of the terms and conditions specified in the Scotiabank Financial Services Agreement or any other terms and conditions or agreement(s) applicable to the Account. The Offer is conditional upon successful onboarding with Chase. This Offer will not affect other service charges applicable to the Account. Maximum one offer per Eligible Customer regardless of the number of Accounts opened. This Offer is non-transferable and may be changed, cancelled, or extended by Scotiabank at any time without notice, including if an Eligible Customer stops obtaining payment processing services from Chase.

¹⁷ Merchant Services are provided by Chase Payment Solutions^SM (“Chase”). Any products and services offered by Chase are governed solely by their terms and conditions. The Bank of Nova Scotia (“Scotiabank”) is not responsible for, and provides no representations, warranties or conditions regarding, any third-party products or services, including those of Chase. A referral by Scotiabank to Chase will result in a referral fee or other revenue being paid to Scotiabank.

¹⁸ Businesses who wish to obtain payment processing services from Chase Payment Solutions℠ must submit an application. All applications are subject to Chase’s standard approval policies and procedures, including, without limitation, credit approval and entering into a merchant agreement with Chase Payment Solutions.

¹⁹ As of April 1, 2025 the standard monthly plan fee for Select Account for business Plan B is $40 and is subject to change by Scotiabank at any time with notice. Please refer to Your Guide to Fees and Interest Schedules available at www.scotiabank.com for the current fees and charges applicable.

Overlap with other Programs or Incentives

CFIB members can take advantage of other Scotiabank programs currently offered, including Scotiabank StartRight™, The Scotiabank Women Initiative®, and any future programs that may be offered. And, for members who are also classified as professionals, the savings program can also be a complement to the Scotia Professional Plan as relevant to the customer’s banking needs.
 
At any time when there is a similar offering on a product or service to the offering available to CFIB members, the member will be able to receive only one offer; the better of the two that they are eligible for; offers cannot be combined unless otherwise specified.
 
CFIB members receiving savings and discounts already in place from prior agreements will continue until the time of the product renewal, incentive period has ended, or until a product or service is no longer offered, or Scotiabank determines that a pricing adjustment is required.
 
Additional Services for Commercial Banking Clients
 
Note: Commercial Banking clients are most often defined as those with annual revenues of $15 million or more, or with overall borrowing requirements of more than $500,000.
 
CFIB members classified as Commercial clients will be designated a Scotiabank Relationship Manager to determine their individual banking needs. Commercial clients will be entitled to preferred pricing for Cash Management & Payment Services.