Pay just $3.95 per month and get 18 included transactions plus free Interac e-Transfer service. Eligible seniors and other qualifying customers can bank for $0 monthly. Terms and conditions apply.
Bank for just $3.95/month—or $0 if eligible
Chequing Account
CAD
CDIC Insured
Scotiabank®
Basic Bank Account
A straightforward, low-cost chequing account with 18 included monthly transactions, free Interac e-Transfer service and monthly-fee waivers for eligible customers.
Interest rate
Not listed
Monthly fee
$3.95/mo
Transactions
18/month
Minimum deposit
$0
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EDITORIAL REVIEW
RateBuddy verdict
The Scotiabank Basic Bank Account is a straightforward, low-cost chequing option for customers with lighter transaction needs. Its fixed $3.95 monthly fee is modest, 18 included monthly transactions cover basic banking activity, and Interac e-Transfer service is free. It is especially attractive for seniors and other qualifying customers who can receive a complete monthly fee waiver. Optional overdraft protection, branch access and Shell fuel savings provide additional convenience. However, the 18-transaction limit and absence of a general balance-based fee waiver make it less suitable for frequent banking activity.
Strong points
- The standard monthly fee is a modest $3.95, making this an affordable traditional chequing account.
- Includes 18 monthly transactions and free Interac e-Transfer service for routine everyday banking.
- Eligible seniors and qualifying Indigenous Peoples, RDSP beneficiaries, Disability Tax Credit recipients and social-assistance recipients pay no monthly account fee.
- Optional overdraft protection, Scotiabank branch access and fuel savings at participating Shell stations add practical value.
Worth knowing
- Only 18 transactions are included each month, making the account less suitable for customers with frequent banking activity.
- There is no general balance-based fee waiver for customers who do not qualify under one of the designated eligibility groups.
- The account provides fewer premium benefits than Scotiabank’s higher-tier chequing packages.
CURRENT OFFERS
Promotions and account value
EARNINGS
Rates and interest details
A specific interest rate is not currently listed for this product.
COSTS
Fees and account limits
Monthly fee$3.95/mo
Fee-waiver balanceNot listed
Minimum deposit$0
Maximum depositNot listed
Included transactions18/month
Bundled productNo
Detailed fee schedule
| Fee | Amount | Frequency or allowance | Additional use |
|---|---|---|---|
| Monthly Maintenance FeeWaived for eligible seniors, Indigenous Peoples, RDSP beneficiaries, Disability Tax Credit recipients and Canadians receiving social assistance. | $3.95 | Unlimited | - |
| Interac e-Transfer FeeInterac e-Transfer service fee is waived. Applicable account transaction limits and other conditions may apply. | - | Per Use | - |
| Per-Transaction FeeIncludes 18 transactions per month. Additional transaction charges may apply after the allowance is exceeded. | - | Per Use | - |
ACCOUNT EXPERIENCE
Features and benefits
Free everyday transactions
Free Interac e-Transfers
Eligible for CDIC deposit protection
Access to No-Fee ATM Network
Mobile Cheque Deposit
Online and Mobile Banking
Online and Mobile Banking
Overdraft Protection Available
CDIC Insured
Apple Pay Support
Google Pay Support
Monthly Fee Waiver Available
The monthly account fee may be waived when the account’s stated balance or other eligibility requirements are met.
Fuel Rewards and Savings
Receive discounts, rewards or other value on eligible fuel purchases at participating locations.
WHO CAN APPLY
Eligibility and access
Minimum ageNot specified
AvailabilityAvailable nationally
Mobile appYes
Online bankingYes
Branch accessYes
CDIC Insured: This product is identified as eligible for CDIC deposit protection, subject to applicable limits and conditions.
Seniors
Newcomers
REPUTATION
Ratings and reviews
Ratings may be collected from different sources and at different times. Review the provider’s current terms and independent feedback before applying.
IMPORTANT INFORMATION
Terms and disclosures
Rates, fees, eligibility requirements and promotional terms can change. Confirm all current details directly with Scotiabank® before opening the account.
Product information last reviewed or updated Sep 1, 2026.