Chequing account · Scotiabank
Basic Plus Bank Account: fees and true cost
Scotiabank’s Basic Plus Bank Account charges $11.95/mo, or $0 with a $3,000 minimum balance, with 25 a month transactions. For our “Everyday” example that comes to $381 a year, #23 of 33 chequing accounts offered nationwide.
CDICOffered in all ten provinces
Fees retrieved November 1, 2026
What it would cost you in a year
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $143 | Monthly fee $11.95 | 12 of 33 |
| Everyday Household account, a few e-Transfers | $381 | Monthly fee $11.95; extra transactions $17.79/mo | 23 of 33 |
| Heavy Lots of card, bill and e-Transfer payments | $817 | Monthly fee $11.95; extra transactions $52.12/mo | 23 of 33 |
| Branch and cheques Teller visits, cheques, paper statement | $170 | Monthly fee $11.95 | 5 of 26 |
Try your own numbers in the true-cost finder. Is keeping $3,000 in the account worth it? Run it in the account-fee calculator.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $11.95/mo, or $0 with a $3,000 minimum balance |
| Included transactions | 25 a month |
| Debit purchase in Canada (beyond included) | $1.25 |
| Online or mobile bill payment | $1.25 |
| Interac e-Transfer | No extra fee |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | $1.25 |
| Withdrawal at another institution’s ATM | $2.00 |
| ATM withdrawal in the United States | $3.00 |
| ATM withdrawal in other countries | $5.00 |
| Debit purchase in the United States | $1.25 |
| In-branch withdrawal | $1.25 |
| Bill payment in branch | $1.25 |
| Cheque (as a payment) | $1.25 |
| Mailed monthly statement | $2.25 |
| Non-sufficient funds (NSF) | $10.00 |
| Overdraft protection, monthly | $5.00 |
| Overdraft protection, per use | $5.00 |
| Overdraft interest | 21% a year |
Notes from the institution
Stop-payment fee: Assisted: $30.00 Self-Serve: $0.00 Avoid fees by making stop payments directly through online banking or the Scotia app.
Lower prices for some customers
| Who | Monthly fee | Source |
|---|---|---|
| Seniors' Discount, 60 and older ($4.00 off $11.95) | $7.95 | Scotiabank |
Is the money protected?
CDIC member. Eligible deposits are covered up to $100,000 per category at each CDIC member — see the deposit safety tool.
Cheaper for everyday use, at other institutions
- Wealthsimple Chequing (Wealthsimple) — $0 a year
- Personal Account (EQ Bank) — $0 a year
- Neo Chequing account (Essentials) (Neo Financial) — $0 a year
Other chequing accounts at Scotiabank
- Basic Bank Account — $3.95/mo, no balance waiver
- Preferred Package — $16.95/mo, or $0 with a $4,000 minimum balance
- Preferred Package for Students and Youth — No monthly fee
- Ultimate Package — $30.95/mo, or $0 with a $6,000 minimum balance
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Scotiabank’s product page
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