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Idea/Workaround for Pre Authorized Deposit Recurring from Chequing account
July 15, 2020
7:46 am
b33i
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June 22, 2020
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Hi fellow High Interest Savers,

I recently opened the Scotiabank Preferred Chequing account package and it had a promo where you could get a cashback of $300 when you fulfill two of three conditions mentioned below,

"Make an eligible $50 bill payment through online or mobile banking.
Set up at least 2 eligible separate recurring pre-authorized transactions that are $50 or more, which will each recur monthly for a minimum of 3 consecutive months.
Set up an eligible recurring direct deposit, which will recur monthly for a minimum of 3 consecutive months."

Now I was able to do a $50 bill payment for my phone account(it actually costs $35/month but I deliberately sent $55 to get a negative balance on this account)
Secondly, I have a recurring amount of $75 to my investment account at another institution and no matter what I think or do I can't think of any other PAD recurring payment, no internet or mortages or anything like that.

Does anyone have a workaround for this like a reload VISA card or something similar, I am totally beat on this.

Thanks

July 15, 2020
9:24 am
Norman1
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The full list is at Qualifying Activities.

Perhaps something in the list applies.

July 15, 2020
4:15 pm
AltaRed
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We have about 10 pre-authorized items from cell phones to various utility accounts to credit cards to.....

July 15, 2020
5:12 pm
Briguy
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Or you could use PayTM to send money for 3 months to meet condition of recurring direct deposit. ( #3)

July 16, 2020
7:58 am
b33i
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June 22, 2020
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Thanks guys for helping me out, I was able to find one from the list.

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