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Save more with Scotiabank, Chase and CFIB

 

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As a Scotiabank business banking customer who processes payments through Chase® Merchant Services, you can enjoy even greater savings when you join the Canadian Federation of Independent Business – the country’s largest association of small and medium-sized business owners!

 

When you join CFIB, you’ll get.

  • Waived minimum monthly account fees on the Scotiabank® Right Size Account for business – $72 savings each year1
  • Exclusive low payment processing rates with Chase2
  • Access to expert advice, a strong voice at all levels of government, and more exclusive savings on business services.

View Rates      Get in Touch

Get in touch!

If you’d like to learn more about how CFIB can support your success, fill out the form below.

A local representative will contact you or call us directly at 1-866-625-9387

*All merchants subject to credit approval, all fields required.

Authorization message
*By submitting this form, as an authorized representative of the merchant, you agree to be contacted by Chase and CFIB by telephone or email.

Your Chase credit and debit card rates, exclusive to CFIB members:

Visa & Mastercard
  Merchant Discount Rates
Visa Mastercard
Industry Specific Rates (CDN $Accounts)*

Consumer Electronic

1.4296%5

1.2696%5

Everyday Needs(Visa)

1.3696%

1.2696%5

Everyday Spend(Mastercard)

1.3696%

1.2696%5

Grocery

1.2396%

1.2296%

Gas

1.1896%

1.1796%

 

U.S. $ Accounts

1.7796%6

1.7796%6

Additional Fees (CDN and US $ Accounts)8

Assessment Fee

0.0904%

0.0904%

Acquirer License Fee9

N/A

0.007%

Non-Qualified Transactions Processing Fee

0.25%7

0.25%7

Interchange Differential

Passed through at cost, as set by Visa and Mastercard

Passed through at cost, as set by Visa and Mastercard

* For qualifying merchants as determined by Visa and Mastercard
American Express®

CFIB MEMBER EXCLUSIVE

American Express® Rates through Chase® Merchant Services

For small businesses with up to $500,000 in annual American Express sales11

 

  CFIB Exclusive Rate
(for qualified transactions*)
LARGE TICKET SALES13
(additional fees for non-qualified transactions*)

MDR13

Assessment Fee

Total

Threshold

Differential14

NQTPF14

Most Industries12

1.68%

0.12%

1.80%

>$500

0.40%

0.25%

Specified Industries:

 

Restaurant

>$200

0.80%

0.25%

Prepaid

>$200

0.40%

0.25%

B2B/Wholesale

>$1,000

0.40%

0.25%

Travel & Entertainment

>$1,000

0.80%

0.25%

 

*Other fees may apply:

 

Other fees Amount Description

Card not Present Fee

0.30%

Applies to manually entered transactions

International Card

0.40%

Applies to foreign issued card transactions

Chargeback Processing Fee

$10

Applies per occurrence

 

 

Examples

#1) If a customer spends $50 at a restaurant, the merchant pays 1.80%. If they spend $250, the merchant pays 2.85%.

#2) If a patient spends $350 for dental work, the dentist pays 1.80%. If they spend $700, the dentist pays 2.45%.

 

®Registered trademarks of respective parties and used under license.

Interac
  • 4.2 ¢ per transaction.
  • Interac Switch fee: 0.8 ¢
  • Interac Flash fee* $0.02-$0.035 (Passed through at cost as set by Interac)
  • No added "Network Fee"
*Added fee for contactless payment
Other Fees
Other Fees CDN Dollar Accounts U.S. Dollar Accounts

Monthly administration fee

$3.95 (regular $12.95)

$3.95 (regular $12.95)

Account setup fees

Waived

$50.00 (waived if merchant has $ CDN account)

Annual renewal fees

Waived

$25.00 (waived if merchant has $ CDN account)

Visa/Mastercard application fee

Waived

$25.00 (waived if merchant has $ CDN account)

Funds transfer fee or Push fee

None

None

Visa/Mastercard transaction fee (each)

None

$0.20

Fee for a non Visa, Mastercard or Interac transaction (each)

$0.08

$0.25

Monthly minimum discount (for each of Visa and Mastercard)

$8.00 (waived as of April 3rd 2017)

$20.00

Visa/Mastercard Fees for Transactions with cards not issued in Canada or in a foreign currency (passed through at cost by Chase)

Contact Chase

Contact Chase

Footnotes

® Registered trademark of The Bank of Nova Scotia.

  1. The current minimum monthly fee on the Scotiabank Right Size Account for business is $6.00. 
  2. Customers who wish to obtain payment processing services from Chase 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. Certain conditions apply. Proof of membership status with CFIB will be required.