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Scotiabank review

Updated September 28, 2026 · DebitCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Scotiabank fits people who pay in foreign currency or collect points, and the strongest number here is the 0% currency conversion fee. The catch is that the reward side is not cheap, so a card holder pays CAD 150 a year while the chequing account adds CAD 16.95 a month on top.

Key facts

Best for
Free currency conversion plus points for regular travellers.
Annual fee
CA$150 (Source, checked September 26, 2026)
APR
20.99% (Source, checked September 26, 2026)
Currency conversion fee
0% (Source, checked September 26, 2026)
Rewards type
Points (Source, checked September 26, 2026)
Rewards rate
1-3 Scene+ points per dollar depending on category (Source, checked September 26, 2026)
Balance transfer fee
1% (Source, checked September 26, 2026)
Perks
Travel insurance, Airport lounge access, Avis Preferred Plus membership, Shell fuel savings, GigSky mobile data (Source, checked September 26, 2026)
Card kind
Credit (Source, checked September 26, 2026)
Legal entity
Bank of Nova Scotia (Source, checked September 26, 2026)
Headquarters
Canada (Source, checked September 26, 2026)
Founded
1832 (Source, checked September 26, 2026)
Support channels
Phone, Help-centre (Source, checked September 26, 2026)
Features
Rewards
Audience
Students, Kids
Official website
scotiabank.com

Debit cards

Monthly fee
CA$16.95 (Source, checked September 26, 2026)
Currency conversion fee
0% (Source, checked September 26, 2026)
Free ATM withdrawals
CA$1 (Source, checked September 26, 2026)
Card type
Debit (Source, checked September 26, 2026)
Card network
Visa (Source, checked September 26, 2026)
Legal entity
Bank of Nova Scotia (Source, checked September 26, 2026)
Headquarters
Canada (Source, checked September 26, 2026)
Founded
1832 (Source, checked September 26, 2026)
Support channels
Phone, Help-centre (Source, checked September 26, 2026)
Features
Rewards
Audience
Students, Kids

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaLinkedInXTrustpilot

Pros and cons

Pros

  • Currency conversion is 0%, first in the site's currency conversion fee ranking at 1 of 181.
  • Rewards pay 1-3 Scene+ points per dollar depending on category on a points basis, with Travel insurance, Airport lounge access and Avis Preferred Plus membership on top of the points.
  • The debit card runs on visa, the network 58.6% of the cards listed use, so acceptance is broad.
  • The accounts target student and kids, covering both a student and a child.

Cons

  • The rewards credit card asks CAD 150 a year, far above the site median of €0.
  • The chequing account is not fee free: CAD 16.95 a month, where the site median is €0.
  • Support runs on phone and help centre only, with no live chat or email listed.
Scotiabank

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Scored 9.4 / 10 by DebitCue.

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Who it suits

  • Travellers and regular spenders abroad who want currency conversion at 0%
  • Point collectors who would use the airport lounge access and travel insurance
  • Students and parents banking for a child, the stated audience for the accounts

Who should look elsewhere

  • Oney, if €10 a year is easier to carry than CAD 150 on a rewards card
  • Gulf Bank, if you carry a balance and care more about 8.33% than points
  • Amwal, if an annual fee of SAR 0 settles the choice and points are not the goal

Fees and currency costs

Currency conversion is 0% on the card fee schedule, so spending in another currency costs nothing extra at the point of sale. The rewards credit card charges an annual fee of CAD 150 with an APR of 20.99% on balances you carry, and a balance transfer fee of 1% applies if you move an existing balance onto it.

Who runs it

Scotiabank is the trading name of Bank of Nova Scotia, headquartered in Canada and founded in 1832. The same bank issues the debit card and the rewards credit card, so the chequing account and the points sit with one provider. Support runs on phone and help centre, so help is there when a charge or a points balance needs checking.

How Scotiabank compares

Where Scotiabank is available

Available
Canada

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the Scotiabank rewards credit card cost?+

The rewards credit card charges an annual fee of CAD 150 and an APR of 20.99% on balances. A balance transfer fee of 1% applies when you move an existing balance onto it. The reward is points rather than cashback, and currency conversion is 0%.

Is there a currency conversion fee on Scotiabank cards?+

Currency conversion is 0% on the card fee schedule, which places it first in the site's currency conversion fee ranking at 1 of 181. Spending abroad on the rewards card therefore adds nothing at the point of sale, though the annual fee still applies.

How much does the Scotiabank chequing account cost?+

The chequing account carries a monthly fee of CAD 16.95 and includes CAD 1 in free ATM withdrawals. The site median monthly fee is €0, so this account sits above the level most of the accounts compared sit at. Worth checking against how often you use the card day to day.

What rewards does the Scotiabank card give?+

Rewards come as points rather than cashback, at 1-3 Scene+ points per dollar depending on category depending on the category you spend in. The card also carries perks such as Travel insurance, Airport lounge access and Avis Preferred Plus membership. Those extras lean towards travel and fuel spending, so a shopper spending on groceries earns less from the scheme.

Who is the Scotiabank card aimed at?+

The stated audience is student and kids, so a student account and an account for a child both sit in scope. The rewards card is sold on its travel perks, so a family covering a student's spending gets more from the points than someone who rarely leaves the country.

What network does the Scotiabank debit card use?+

The debit card runs on visa, which 58.6% of the cards listed use, so acceptance is wide in everyday shops. Note the two products differ: the rewards card is a credit card, and the chequing account issues the debit card.

Who runs Scotiabank and where is it based?+

The bank is Bank of Nova Scotia, based in Canada and founded in 1832. It issues both the debit card and the rewards credit card under the same name, and support reaches you on phone and help centre, which covers phone and help centre enquiries.

How does Scotiabank compare with Oney on cost?+

On the credit card side, Scotiabank's annual fee is CAD 150 against Oney's €10, and the two sit in different currencies and price bands. Oney lists a set annual fee, while Scotiabank adds an APR of 20.99% on balances and a travel perks package.

Sources

Compiled from 6 source pages, checked September 26, 2026. We did not open an account.

Scotiabank

Scotiabank

Free currency conversion plus points for regular travellers.

9.4/10See alternatives