• Scotia Bank No Fee Chequing Accounts Review

    Scotia Bank offers Canadians a number of chequing account options but only some of them can be used without paying a monthly fee. Scotia Bank uses a minimum balance formulae for clients to qualify for free chequing. Basically you need to maintain a minimum balance in your account in order to have the monthly chequing account fee waived. Below we have reviewed the Scotia Bank chequing account options where the fee can be waived with a given minimum monthly balance.

    Scotia One Chequing Account Review (No Fees with $3,500 Min Balance)

    The Scotia One Chequing Account is Scotia Banks unlimited chequing account option for Canadians. With this account you can have an unlimited amount of withdrawals, debits, account transfers, bill payments and ATM withdrawals at Scotia Bank machines. Of course you may incur fees if you make ATM withdrawals at non Scotia Bank ATMs. Normally this chequing account has a monthly fee of $9.95. Canadians who keep an average monthly balance of $3,500 or more will have this monthly fee waived.

    Scotia Bank Basic Plan Chequing Account Review (No Fees with $2,500 Min Balance)

    The Scotia Bank Basic Chequing Plan is very similar to the Scotia One plan except that your transactions are limited to 30 each month. Additional transactions are $0.65 each. This plan normally comes with a monthly fee of $7.00 each month. Canadians who carry a monthly balance of $2,500 or greater will have this waived on their account. This is a fairly good chequing account option for most Canadians, even if you cannot keep the monthly balance to avoid the fee.

    Scotia Bank Power Chequing Account Review (No Fees with $1,500 Min Balance)

    The Scoita Bank Power Chequing account is a great option for Canadians looking for a cheap all purpose chequing account that allows for a decent number of transactions but carries a low monthly fee of $3.95 per month. This fee will be waived should you keep an average monthly balance of $1,500 or more in your account. This account allows for 15 transactions each month with additional transactions costing $0.65 each.

    Compare All Scotia Bank Chequing Accounts