Scotiabank, one of Canada's largest banks, is well-known for its robust suite of services and has received notable recognitions like the 2022 Bank of the Year Award by The Banker and inclusion in the 2023 Bloomberg Gender-Equality Index. The bank offers a variety of business accounts designed to meet the diverse needs of Canadian businesses. Here, we explore the different business account options available at Scotiabank and their features.
Right Size Account for Business
Features:
- Monthly Fee: $6
- Transaction Fees: $1.25 for 1-15 transactions, $1.15 for 16-50 transactions, $1 for 51+ transactions
- Highlights: Only pay for transactions made; no deposit fees on payment processing; online access for convenience
Select Account for Business
Plans and Features:
Unlimited Plan:
- Monthly Fee: $120 (rebate with $75,000 balance)
- Transactions: Unlimited
- Cash Deposits: Up to $30,000 free
Plan A:
- Monthly Fee: $20 (rebate with $20,000 balance)
- Transactions: 25 free per month
Cash Deposits: Up to $6,000 free
Plan B:
- Monthly Fee: $40 (rebate with $35,000 balance)
- Transactions: 70 free per month
Cash Deposits: Up to $8,000 free
Plan C
- Monthly Fee: $75 (rebate with $45,000 balance)
- Transactions: 125 free per month
- Cash Deposits: Up to $10,000 free
Scotia Professional Plan Plus Account
Features: - Monthly Fee: $38 - Included Transactions: 110 per month - Highlights: Free mobile cheque deposits and up to 20 free Interac e-Transfers per month through Scotia Online
Basic Business Account
Features: - Monthly Fee: $10.95 (waiver with $8,000 balance) - Transactions: 1 free transfer for every $1,500 in the account - Currency: Available in CAD and USD
Why Choose Scotiabank
- Wide Range of Services: From business loans and credit lines to merchant services and cash management solutions.
- Accessibility: Extensive network of branches and ATMs across Canada and easy online banking access.
- Dedicated Business Support: Relationship managers provide tailored guidance and support.
- International Presence: Support for businesses engaged in international trade with services like foreign exchange solutions.
- Technology and Innovation: Investments in user-friendly online and mobile banking platforms and digital payment solutions.
- Reputation and Stability: Long-standing history in the banking industry offering reliability for businesses aiming for growth and success.
Scotiabank provides a comprehensive banking solution for businesses of all sizes, ensuring each company can find an account that best suits its needs. Whether it's managing day-to-day transactions efficiently or planning for significant expansion, Scotiabank's business accounts offer valuable tools and support.
