Scotia SelectPay™

Turn your eligible^† credit card purchases into 3, 6, 9 or 12-month installment plans.

Your plan comes with a special annual interest rate & a one-time, non-refundable 1% fee.¹

Apply for a credit card

Here's how it works

Let's say you bought a $4,000 TTD laptop and converted it into a 3-month SelectPay^TM plan with a one-time 1% fee¹ and a special 19% Effective Annual Interest Rate (EAIR) on your repayment plan. Your monthly SelectPay^TM installment will calculate as approx. $1,363.58/ month. For illustrative purposes only.**

Log in to the Scotia Caribbean App or Scotia OnLine to set up your SelectPay^TM plan today.

Cost of laptop: $4,000.00	One-time 1% fee: $40.00
Month	Special annual interest rate**	Total monthly SelectPay installment**
1	19%	$1,363.58
2	19%	$1,363.58
3	19%	$1,363.58
		$4,090.75

Convert your bigger credit card purchases using Scotia SelectPay™. Get access to this newly added feature using the Scotia Caribbean App and Scotia OnLine Banking.

Reward yourself by purchasing those items you’ve had on your wish list for some time. Yasss! You read that right. Now you can convert your credit card purchases valued at TTD $510* or more, into bite-sized, fixed monthly installments.

Feel in control of your budget with fixed monthly payments.

Get a special annual interest rate and pay a one-time, non-refundable 1% fee.¹

Get flexible payment options with 3, 6, 9 or 12-month plans.

Available on all personal banking credit cards. No new application or credit checks needed.

More details

Set up and manage your payment plans on the Scotia Caribbean App or Scotia OnLine Banking.

Continue to enjoy all your usual credit card benefits, like rewards and insurance coverage.

*This amount is based on the daily USD conversion rate and refers to a completed transaction for a purchase that is equal to or greater than USD $75 or its equivalent in local or another currency.

Here's how you qualify for Scotia SelectPay^TM.

Your account is in good standing.
You're the primary credit card holder. (Supplementary cardholders are not currently eligible).
You made a purchase of TTD$510* or more using your credit card and that purchase is on your current billing cycle.
You've signed up and currently use the Scotia Caribbean App or Scotia OnLine Banking.

Set up SelectPay™ using the Scotia Caribbean App.

Once your purchases appear in your posted transactions in the Scotia Caribbean App or Scotia OnLine Banking, follow these steps:

Select your Scotia credit card & tap on the SelectPay™ tab.
Next, tap on the Convert your transactions button.
Then, tap Transactions (your posted transactions within your current statement cycle will show here) and select the one(s) you'd like to convert to a SelectPayTM plan.
Choose a plan that works for you - 3, 6, 9 or 12 mths. (Tip: review the one-time non-refundable fee that applies).
Read and agree to the SelectPayTM Terms and Conditions.
Slide to submit and, ta-da, it’s done!

learn more, Set up SelectPay™ using the Scotia Caribbean App.

Set up SelectPay™ using Scotia OnLine Banking.

Using Scotia OnLine Banking, you can view your SelectPay^TM plan & payment details.

Need to cancel your SelectPay^TMplan?

You can cancel your SelectPay^TM plan at any time after it has been posted to your account.
To cancel the SelectPay^TM plan, call the Contact Centre at 62-SCOTIA.
Note: the one-time 1% fee will not be refunded unless you cancel the SelectPay^TM plan within the same statement period in which it was converted.
It will take 3 business days to process a cancellation request.

View your SelectPay^TMinstallment on your statement.

Your Scotia SelectPay^TM installments will appear on your credit card statement, after your Transactions Summary.
In the Installments Summary section you can view the date your plan was created, the original amount, number of installments, interest rate, monthly installment and the number of payments left in your plan.

Download the Scotia Caribbean App or update it to the latest version.

Take care of your day-to-day banking, any time of day.

Have more questions about the app? Check out our Frequently Asked Questions

View legal footnotes

®

Registered trademarks of The Bank of Nova Scotia

™

Trademark of The Bank of Nova Scotia

†

Eligible credit card purchases are defined as: purchases that are equal to or greater than TTD $510; purchases that are made in the same statement period when the SelectPay™ plan was set up; and credit card accounts that are in good standing.

*

This amount is based on the daily USD conversion rate and refers to a completed transaction for a purchase that is equal to or greater than USD $75 or it’s equivalent in local or another currency.

1

A one-time, non-refundable, set up fee equivalent to 1% of your original transaction, will show as a separate line item in your list of transactions, in the same statement as your first monthly installment for SelectPay™. The one-time set-up fee of 1% covers operational costs associated with setting up the SelectPay™ plan and will include taxes, where applicable. This charge is non-refundable, unless you cancel the SelectPay^TM plan within the same statement cycle.

**

Calculations shown are based on 26 days between the time the SelectPay™ plan was chosen and your statement period. Monthly installments will vary depending on the date the SelectPay™ option is chosen in the Scotia Caribbean App or Scotia OnLine Banking. This feature is not available to Business credit card customers.

Start using Scotia SelectPay™ today.

To sign in to the app, you'll need your ScotiaCard number or Username, your Password, and answers to your security questions.

Scotia SelectPay™ FAQs

To convert a credit card purchase:

1. Log in to your Scotia Caribbean App or Scotia OnLine Banking and view your credit card transactions.

2. Click on the eligible transaction you want to convert into a SelectPay™ plan.

3. Select “Convert your transactions".

4. Select the term you want for your SelectPay™ plan (3, 6, 9 or 12 months).

5. Accept the terms and conditions.

6. Slide or click to submit request for SelectPay™ plan setup.

A one-time, non-refundable, set up fee equivalent to 1% of your original transaction, will show as a separate line item in your list of transactions, in the same statement as your first monthly installment for SelectPay™. The one-time set-up fee of 1% covers operational costs associated with setting up the SelectPay™ plan and will include taxes, where applicable. This charge is non-refundable, unless you cancel the SelectPay™ plan within the same statement cycle.

Interest on the eligible Transaction converted to the SelectPay™ plan will be calculated based on an amortization table with a rate displayed at the time of the installment creation.

a. The quoted SelectPay™ Interest rate is converted into a monthly rate.

b. This monthly rate is then used to calculate interest for each term.

c. The monthly rate is applied to the remaining balance on the SelectPay™ plan.

d. The interest amount decreases each term while the principal amount paid towards your plan increases each term, keeping the monthly payment amount equal for each term.

Your SelectPay™ plan monthly payments are included in your Minimum Payment and Amount Due and will be billed on each monthly statement starting with the first statement following the creation of the SelectPay™ Plan.

After a conversion to the SelectPay™ plan is made, the Total Minimum Payment due on your next statement will be the sum of 1) the minimum payment for the balance owing on your Card Account which relates to other transactions that have not been converted to the SelectPay™ plan and 2) the installment principal amount plus interest on all Eligible Transactions that you have converted. The one-time, non-refundable, set up fee equivalent to 1% of your original transaction, will show as a separate line item in your list of transactions, in the same statement as your first monthly installment for SelectPay™.

The credit card limit will not change once you convert a transaction into an SelectPay™ plan. However, the limit available for revolving credit purchases will decrease by the amount of the transaction that is converted into the SelectPay™ plan. Example:

Credit Limit: $5,000

Amount Owing on Credit Card: $500

Transaction value converted to SelectPay™ plan: $500

Credit Available for purchases: $4,500

Yes. you can cancel your SelectPay™ plan at any time after it has been posted to your account. It will take 2-3 business days to process a cancellation request. To cancel the SelectPay^TM plan call the Contact Centre.

Note: the set-up fee will not be refunded unless you cancel the SelectPay™ Plan in the same statement period in which it was converted

View Terms and Conditions

Scotia SelectPay™

Here's how it works

Convert your bigger credit card purchases using Scotia SelectPay™. Get access to this newly added feature using the Scotia Caribbean App and Scotia OnLine Banking.

Here's how you qualify for Scotia SelectPayTM .

Set up SelectPay™ using the Scotia Caribbean App.

Set up SelectPay™ using Scotia OnLine Banking.

Start using Scotia SelectPay™ today.

Scotia SelectPay™ FAQs

1. What is Scotia SelectPay™?

2. What qualifies as an eligible credit card purchase to convert to a SelectPay™ plan?

3. How do I convert an eligible credit card transaction into a SelectPay™ plan?

4. Can all cardholders convert credit card transactions into a SelectPay™ plan?

5. I just converted a credit card transaction to a SelectPay™ plan. Why don’t I see it on my account?

6. Can I select multiple transactions to include in one SelectPay™ plan?

7. Why am I being charged a one time set-up fee for the SelectPay™ plan?

8. How is interest calculated on SelectPay™ plan?

9. Why is my SelectPay™ plan amount higher than the original purchase that I converted?

10. How do I make payments towards my SelectPay™ plan?

11. What happens to my credit card limit when I convert a purchase to a SelectPay™ plan?

12. Will the limit available to spend on my credit card increase as I pay off my SelectPay™ plan?

13. Can I pay off my SelectPay™ plan earlier than the term selected?

14. Can I cancel my SelectPay™ plan if I set it up in error or change my mind?

15. Why was my SelectPay™ plan cancelled if I didn’t request it?

Here's how you qualify for Scotia SelectPay^TM.