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Scotiabank Aug 26 - Jan 31 2020 Promo
September 9, 2019
8:37 am
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Noticed that also

September 9, 2019
8:46 am
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The account gives you a warning if you are going to withdraw and it says that you are going to lose your premium interest.

When I do withdraw like I did twice I took it out of the regular savings part of the account paying 1.00% with no penalty.

I also have the Tangerine offer paying 2.75% tell December 31,19. Lucky I read off here that the line of credit money is not considered new funds. So I had to transfer that to Bank Of Nova Scotia Momentum account to get 2.50% tell December 2019.

Canadian Tire Bank promotion of 3.00% also is expiring end of the month.

There will be more promotions on the way also.

October 2, 2019
8:03 pm
Bud
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More CT promos how do you know

October 4, 2019
10:35 am
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Last quarter of the year going into Tax Free season and RRSP season.

All kinds of promotions .Their is every year. Also beginning of 2020 will be more promotions.

Update on Bank Of Nova Scotia Momentum Savings . Bonus interest was paid on October 2,19

With current account the rate is 2.55% tell end of November 2019 as long as make no withdraw.

Can decide when it runs out what to do .

October 4, 2019
1:24 pm
Bud
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Last day for 90d cycle 2.5 enrollment Nov 1

October 9, 2019
5:09 am
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Last day for 90 day cycle is November 30,19.Says that under conditions and Terms.

Offer period is August 26,19 to November 30,19

Bonus of 1.00% expires January 21,2020

October 10, 2019
6:30 pm
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The latest article dated October 9,19 about Scotia chequing Account is not really telling the whole story.

It is very misleading when it says the Ultimate account has a whopping fee of 30.95.

Here is some comparisons from other similar BIG Banks.

TD Canada Trust All Inclusive Chequing Account fee is 29.95 or waived with 5,000.00

Bank Of Montreal Premium chequing Account fee is 30.00 or waived with 6,000.00.

How is Bank Of Nova Scotia whopping at 30.95. The fee is waived with 5,000.00. Or if you have 30,000 in your Momentum Savings account the fee is waived.

All the above Banks Chequing accounts are giving you good value and return on your loss interest on the funds you have to maintain to waive the account fee.Plus free bank drafts, cheques and discounts on safety deposit boxes.Why? The banks have the top credit cards in the industry.

TD Canada Trust chequing account waives the fee on a 120.00 credit card. Bank of Montreal does also up to 150.00. And Bank Of Nova Scotia waives the fee on a credit card up to 139.00.

Plus Bank of Nova Scotia gives you a 55.00 small safety deposit box. Or a credit. TD credit I think is similar.

Even Bank Of Montreal balance you have to maintain of 6,000.00 at 3.00% is 180.00. So why pay 120.00 or 150.00 for a good credit card alone when you can have PREMIUM Chequing Account included by maintaining 6,000 .

Bank Of Nova Scotia Ultimate Chequing Account is not out of line.

Who wants to deal with the little places recommended in the article where you do not get Bank Drafts or safety deposit boxes or a teller to deal with.

Bank Of Nova Scotia Momentum Savings Account anyone for 90 days with new money either 2.50%, 2.55% with the preferred Chequing Account or 2.60% with the Ultimate Chequing Account.

Who would want to take the risk for 1/4% to .40% more to go to a small place. And 1/4% on 100,000 is $25.00. Works out 2.08 a month over 3 months is 6.24. BIG MAC costs more.

For 50,000 it is even less obviously at 12.50 year. Roughly $1.04 a month. Over 3 months $3.12. Crazy to go near a small place for $3.12 extra and the risk.

Also CIBC has Smart Plus Chequing Account . Like the rest is good value. Either 29.95 or maintain 6,000.00 to have the fee waived. Their other way to waive the fee is not worth it .
Maintain 100,000 in investments.

Once again how is the Bank Of Nova Scotia Ultimate chequing Account whopping at 30.95?

It seems like their is a kick back by trying to recommenced these other small places.Where sophisticated investors and financial planners would not touch .Even with being under CDIC limit. And would not take a chance and go over the insured limit of 100,000.

Still sticks in my mind how one person wrote in the Bank Of Montreal Smart Savers account article how he went to a Bank Manager it seemed like begging for their 2.85% rate. After reading you got the impression he did not have much anyways. Even 1/4% on 100,000 is 25.00 over the year. He could get bare minimum 2.50% from Bank of Nova Scotia. The Manager must have laughed once he left.

I closed EQ last year when other small places just about went under. Read of here about Manulife promo at 3.25% Opened the account under a month later was down to 3.00%. Horrible experience their. Closed the account with promo still valid until November 21,19. Try finding a Manulife bank machine? If you do it does take deposits.

I sooner take 2.55% from Bank Of Nova Scotia and when I uprade to the ultimate package will be 2.60%. Waiting for my bonus of 300.00 for opening the Preferred Account.

The article on this site does not mention you get a $350.00 bonus for opening up the Ultimate chequing account from Bank Of Nova Scotia if you haven not had the account the previous two years.Added bonus.

Once again wondering how much of a kick back the person is getting to recommend these other small institutions.

Wrote this in a polite way. Frustrating reading how the article was biased saying the Bank was gouging.Or any of the banks.You are paying for safety, customer service , bank machines.

I have more then one Premium chequing Account from different banks because of the premium credit cards. Credit card rebate pays for most of the account fees.

October 11, 2019
3:02 pm
Peter
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I'm sorry that you don't like the article, but I'm glad that people are reading it 😀

The article was not influenced by any kick backs.

There are no big banks on the savings account chart or GIC chart because rates are better elsewhere. However, big bank promos are listed on the promotions page.

The article mentions the minimum balance to waive the $30.95 monthly fee (which is the highest fee I've heard of). It mentions the bank drafts, cheques, and safety deposit box, acknowledging that there is value in a bank with lots of brick and mortar locations. The article mentions the sign-up bonus and savings account bonus. The article mentions to look into the comparable big bank offerings, as well as the other Scotiabank chequing accounts.

I was worried that people might think I'm a shill for Scotiabank (especially because I said the credit cards are decent and available on the cash back site). It's good to see there's no misconception to be worried about there. I believe that for many people the Scotiabank Ultimate Package can be useful. I also believe that for many other people, it is not useful. I saw a new product and thought I could offer some informed analysis.

October 11, 2019
3:24 pm
hwyc
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IMO, it's only fair to compare apples to apples, oranges to oranges, ... in other words, accounts to accounts & packages to packages. Smaller FI(s) may not provide one stop for all solutions. However, to remained inform, I do not wish to neglect any high interest (insured) savings offerings ... from any sized FI(s)

🙂 My two cents.

October 11, 2019
4:24 pm
semi-retired
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Good said
The latest article dated October 9,19 about Scotia chequing Account is not really telling the whole story.

It is very misleading when it says the Ultimate account has a whopping fee of 30.95.

Here is some comparisons from other similar BIG Banks.

TD Canada Trust All Inclusive Chequing Account fee is 29.95 or waived with 5,000.00

Bank Of Montreal Premium chequing Account fee is 30.00 or waived with 6,000.00.

How is Bank Of Nova Scotia whopping at 30.95. The fee is waived with 5,000.00. Or if you have 30,000 in your Momentum Savings account the fee is waived.

All the above Banks Chequing accounts are giving you good value and return on your loss interest on the funds you have to maintain to waive the account fee.Plus free bank drafts, cheques and discounts on safety deposit boxes.Why? The banks have the top credit cards in the industry.

TD Canada Trust chequing account waives the fee on a 120.00 credit card. Bank of Montreal does also up to 150.00. And Bank Of Nova Scotia waives the fee on a credit card up to 139.00.

Plus Bank of Nova Scotia gives you a 55.00 small safety deposit box. Or a credit. TD credit I think is similar.

Even Bank Of Montreal balance you have to maintain of 6,000.00 at 3.00% is 180.00. So why pay 120.00 or 150.00 for a good credit card alone when you can have PREMIUM Chequing Account included by maintaining 6,000 .

Bank Of Nova Scotia Ultimate Chequing Account is not out of line.

Who wants to deal with the little places recommended in the article where you do not get Bank Drafts or safety deposit boxes or a teller to deal with.

Bank Of Nova Scotia Momentum Savings Account anyone for 90 days with new money either 2.50%, 2.55% with the preferred Chequing Account or 2.60% with the Ultimate Chequing Account.

Who would want to take the risk for 1/4% to .40% more to go to a small place. And 1/4% on 100,000 is $25.00. Works out 2.08 a month over 3 months is 6.24. BIG MAC costs more.

For 50,000 it is even less obviously at 12.50 year. Roughly $1.04 a month. Over 3 months $3.12. Crazy to go near a small place for $3.12 extra and the risk.

Also CIBC has Smart Plus Chequing Account . Like the rest is good value. Either 29.95 or maintain 6,000.00 to have the fee waived. Their other way to waive the fee is not worth it .
Maintain 100,000 in investments.

Once again how is the Bank Of Nova Scotia Ultimate chequing Account whopping at 30.95?

It seems like their is a kick back by trying to recommenced these other small places.Where sophisticated investors and financial planners would not touch .Even with being under CDIC limit. And would not take a chance and go over the insured limit of 100,000.

Still sticks in my mind how one person wrote in the Bank Of Montreal Smart Savers account article how he went to a Bank Manager it seemed like begging for their 2.85% rate. After reading you got the impression he did not have much anyways. Even 1/4% on 100,000 is 25.00 over the year. He could get bare minimum 2.50% from Bank of Nova Scotia. The Manager must have laughed once he left.

I closed EQ last year when other small places just about went under. Read of here about Manulife promo at 3.25% Opened the account under a month later was down to 3.00%. Horrible experience their. Closed the account with promo still valid until November 21,19. Try finding a Manulife bank machine? If you do it does take deposits.

I sooner take 2.55% from Bank Of Nova Scotia and when I uprade to the ultimate package will be 2.60%. Waiting for my bonus of 300.00 for opening the Preferred Account.

The article on this site does not mention you get a $350.00 bonus for opening up the Ultimate chequing account from Bank Of Nova Scotia if you haven not had the account the previous two years.Added bonus.

Once again wondering how much of a kick back the person is getting to recommend these other small institutions.

Wrote this in a polite way. Frustrating reading how the article was biased saying the Bank was gouging.Or any of the banks.You are paying for safety, customer service , bank machines.

I have more then one Premium chequing Account from different banks because of the premium credit cards. Credit card rebate pays for most of the account fees.  

A 1/4 % on 100,000$ over a year is 250.00$,not 25$ as you posted.

October 11, 2019
6:09 pm
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My mistake I was tired when I wrote this.You are correct 1/4% on 100,000 is 250.00 for the year.

Not worth the risk to go a small place for that. I certainly would not.

Also thank you Peter for your explanation. I was just comparing the minimum balances you had to maintain to waive the monthly fee. Bank of Nova Scotia fee without the waiver of 30.95 is only .95 a month higher then Bank Of Montreal.

HSBC Premier Chequing Account is the highest off everyone. Need 100,000 on deposit or a mortgage of 500,00.

Thank you Peter for letting me express my opinion. I was tired like I wrote when I was writing this.

Excellent site. Lots of valuable information.And feedback.

Thank you to everyone for feedback.That is why this site is excellent like I wrote previously.

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