Current Rates & Fees

Rates and fees for Scotiabank accounts, loans and credit cards.

October 2021

Visa Debit ScotiaCard 

Loan Accounts

Visa Debit ScotiaCard

Replacement ATM/ScotiaCard 
Free
ATM Networking Fees (LINX) 
Free for Scotiabank ATMs
Another Bank's withdrawals: TT$4.00
Another Bank’s inquiry: TT$0.62
Another Bank’s declined transaction: TT$1.15
Point of Sale (POS) 
Debit Transaction Fee (LINX) 
Free for Scotiabank POS terminals
Another Bank's POS purchase: TT$0.75
Another Bank’s inquiry: TT$0.60
Another Bank’s declined transaction: TT$0.50
ATM Mini Statement 
FREE
Use of ScotiaCard Overseas ++

ATM 

  • US$3.50 + VISA 2% per approved transaction
  • US$3.50 per declined transaction
  • US$3.00 per inquiry

 

POS

  • FX conversion rates apply

++ For transactions conducted at participating member ATMs of the ATM Global Alliance, there are no International ATM fees. 

VISA fee - 2%

ScotiaLine Gold*

Annual Fee 
$600.00
Over Limit Fee 
$100.00
Cash Advance
NIL
Non-Sufficient Funds (NSF) 
$50.00
Replacement/Additional Statement 
$30.00 
Retrieval of Items
$60.00
Late Payment Fee 
100.00
Additional Card 
Free
Stop Cheque Fee 
$35.00
Replacement Lost/Stolen/Damaged card 
$75.00
Minimum Payment  
2.00-3.00%, min $300.00

ScotiaLine Fees

Annual Fee
$400.00 
Late Payment Fee
$100.00
Cash Advance
NIL
Non-Sufficient Funds (NSF) 
$50.00 
Replacement/Additional Statement
$30.00
Annual Fee Co-borrower
$150.00
Over Limit Fee 
$100.00
Stop Cheque Fee 
$35.00
Retrieval of Items 
$60.00
Minimum Payment 
2.00% - 3.00%, min $300.00

Credit Cards*

Credit Card Annual Fee Additional Card
VISA Classic $165.00 Free
Aero Platinum Visa
$625.00 
Free
Gold Mastercard
$300.00 
Free
Standard Mastercard 
$165.00 
Free
Magna Mastercard
$225.00 
$100.00
Small Business
$200.00
$100.00
Small Business Exec
$625.00
$100.00
Miscellaneous Fees
Over Limit Charge 
$100.00
Late Payment Charge
$100.00
Cash Advance Charge
3.00%, min $50.00
Replacement Lost/Stolen/Damaged Card 
$100.00
NSF 
$50.00
Credit Report Fee
$175.00
Replacement Statement 
$30.00
Minimum Payment 
3.00%, min $25.00

Other fees associated with credit cards are available upon request. Credit Card balances will not attract interest if the full balance is paid within 21 days of the statement date. Fees may be changed in accordance with the Scotiabank Credit Card Cardholder Agreement.

* Interest rates on credit cards and personal lines of credit may vary, however, notice will be given to the customer prior to implementation of the new rate.

Other Services (TTD Accounts)

Incoming Wire Fee
Local Currency: $75.00
Other Currencies: $20.00

Transfer of funds between accounts to cover cheques - $20.00

Manager's Cheques/Local Draft:

  • Less than $5,000 TT Sold - $30.00
  • Less than $5,000 TT Stop Payment - $30.00
  • Greater than $5,000 TT Sold - $30.00
  • Greater than $5,000 TT Stop Payment - $30.00
  • Foreign Drafts - $50.00
  • NSF Cheque - $50.00
  • Stop Payment Order - $35.00
  • Accounts closed within 3 months - $35.00

Safety Deposit Boxes: 

  • Small - $350.00
  • Medium & Large - $400.00
  • Ex Large & XXL - $450.00
  • Drilling of Boxes - $50.00
  • Search for Voucher (per TTD item) - $40.00

Request for physical cheques - per request charge

  • 1 - 10 cheques - $40.00
  • 11 - 99 cheques - $100.00
  • 100 - 499 cheques - $300.00
  • Over 500 cheques - $600.00

Duplicate Statement - $30.00 per statement

Coins for Notes - 5% (commission)

Notice of Dormant Accounts (all levels excluding prior to publication) - $ 25.00

Encashment of Travellers Cheques - 1.15% min $10.00

Draft Tracers - $60.00 + out of pocket expenses

Facsimile Fee - $25.00

Lost/Broken Keys/Drilling of Safe - $30.00 + cost of drilling, min $600.00

Charge per visit (additional to 12 free per annum) - $15.00

 

Overdraft Protection

Monthly Charge - $30.00

Handling Charge (per occurrence)  $20.00 

 

Casual Overdraft 

Monthly Charge - $30.00

Handling Charge (per occurrence) - $20.00

 

Standing Order

Set-up charge - $10.00

Transaction charge (excluding loan payments) - $7.00

Incoming Wire Fee

*Additional transactions are subject to transaction charges. 
**If all of the free transactions are used, additional transactions are charged as follows:
  • In branch/cheque processing - $8.00 per transaction; Total Access - $6.00 
  • ATM - $2.00 per transaction, $1.00 if declined
  • Debit POS - $0.75 per transaction, $0.50 if declined
  • Balance Enquiries - $1.00 per transaction

There is a $100.00 minimum deposit required to open an account.

Senior and youth account holders may benefit from rate packages.

*** Rebate of fees and transaction charges will be applied at the end of each month.

Loan Accounts

Discount Fee for Scotia Plan Loans
Loans less than $33,000 - 1.75%
Loans over $33,000 - 1.75% 

Min $625.00
Min $1,250.00
Early Settlement of Loans other than Real Estate 
2 months interest 

Min $250.00
Late Fees
Late fee = 3.00% of arrears 

Min $100 per instance (5 days or more)
Refinance Charge
Refinance Fee: $500 + 1.75% application fee on additional advance
Credit Report Fee 
$175.00
Settlement Letter 
$100.00
Extension Fee
$100 + APR rate on net balance

One time Pre-Approved/Pre-Qualified Processing Fee - in lieu of Application Fee

>=US$5,000: 1.5% of the loan amount up to a maximum of US$200.00 

<US$5,000: 2.5% of the loan amount up to a maximum of US$100.00

Real Estate

Pre-payment/Early Settlement  Refer to your Personal Credit Agreement or contact your Personal Banking Officer
Discount Fee  
Commitment Fee 1.50%
New Mortgage Initial Inspection  
Vacant Land $2,024.00
Property Value Less than $1.5MM  $2,464.00
Property value between $1.5MM and $3.0MM $4,004.00
Property value between $3.0MM and $5.0MM $5,654.00
Property value >$5.0MM $8,404.00
Subsequent inspections  
HBL $1,474.00
Non-HBL $825.00
Drive-by inspections $1,254.00
Customer Letters $60.00
Overdue Installments (Late Payment Fee)  3% of the amount in arrears, min $100.00
External Credit Report  $175.00 
Settlement Letter  $100.00
Statement Letter $65.00
Letter of Non-indebtedness  $50.00

Interest Rates – Personal Loan Accounts
Interest on personal loan accounts other than those secured by real estate are fixed for the duration of the loan. The repayment of interest is included in the monthly installment. For loans secured by real estate, the bank may alter the interest rate within 90 days notice. For loans repaid in advance, the customer is entitled to a rebate of interest. 

All charges are inclusive of Financial Services Tax 12.5% unless stated otherwise. Please note that while the Bank makes every effort to keep charges to a minimum, they are subject to review.

The information contained in this brochure does not include all retail fees and service charges, but those considered to be most applicable for standard banking transactions.

You can get information about the fees and service charges in this brochure or those not covered by calling our Contact Centre at 62-SCOTIA (627-2684) or visiting your nearest Branch.

Day-to-Day Bank Accounts

 

Savings Accounts

Primary Savings
  • $12.00 Monthly Service Charge
  • The monthly fee will be applied if your daily balance falls below $1,000.00
  • $100.00 minimum opening balance
  • 1 free branch transaction per month***
  • Additional Transaction Fees: Branch transactions - $8.00 (Increased to $10.00, effective Nov 1, 2021)
  • Tiered interest rate
Signature Savings
  • $15.00 monthly fee
  • The monthly fee will be applied if your daily balance falls below $15,000.00  
  • 1 free branch transaction per month***
  • Additional Transaction Fees: Branch transactions - $8.00 (Increased to $10.00, effective Nov 1, 2021)
  • Tiered interest rate
Junior Account - for customers between
0 to 17 years of age
  • No monthly service charge
  • 1 free debit transaction per month***
  • Unlimited deposits and self-service transfers between Scotiabank accounts, using the Scotia Caribbean App and Scotia OnLine Banking.
  • Additional Transaction Fees: Branch transactions - $8.00 (Increased to $10.00, effective Nov 1, 2021)

Transactional Accounts

Using the Scotia Caribbean App, Scotia OnLine Banking and Scotia ATMs to pay your bills, transfer funds between accounts, transfer to other local banks, pay your credit card, view account statements + more is FREE!

Effective Nov 1, 2021 a fee of $10.00 will be charged to your account if you visit the branch to conduct transactions that are available via digital banking channels.

Payroll Access Account
  • No monthly service charge
  • Unlimited transactions at Scotiabank ATMs, Scotiabank Point of Sale (POS) machines, the Scotia Caribbean App and Scotia OnLine Banking. 
ClubS
  • No monthly service charge on Payroll Access Account
  • No fees at Scotiabank ATMs and POS Machines
  • Annual membership waived in 1st year for all approved credit cards
  • Annual fee waived in 1st year for all approved Scotia Line Gold accounts
  • Unlimited transactions at Scotiabank ATMs, Scotiabank Point of Sale (POS) machines, the Scotia Caribbean App and Scotia OnLine Banking. 
  • 50% discounts on Mortgages and Scotia Plan Loans application fees
  • 50% discount on Mortgage appraisal fees
  • Exclusive discounts at partner merchants
Total Access
  • $25.00 monthly service charge
  • 12 branch or cheque transactions*** (Reduced to 5, effective Nov 1, 2021)
  • Unlimited transactions at Scotiabank ATMs, Scotiabank Point of Sale (POS) machines, the Scotia Caribbean App and Scotia OnLine Banking. 
  • Additional Transaction Fees: Branch transactions - $8.00 (Increased to $10.00, effective Nov 1, 2021)
Electronic Access - for customers who prefer to bank digitally.
  • $15.00 monthly service charge
  • Unlimited transactions at Scotiabank ATMs, Scotiabank Point of Sale (POS) machines, the Scotia Caribbean App and Scotia OnLine Banking. 
  • Additional Transaction Fees: Branch transactions - $8.00 (Increased to $10.00, effective Nov 1, 2021)
  • 50% monthly discount on monthly service charge if your payroll or salary is automatically credited to the account***
Total Access Senior Account - for customers 55+ yrs 
  • No monthly service charge
  • No minimum balance charge
  • No paper statement fee
  • Includes 12 free branch/cheque transactions 
  • Unlimited transactions at Scotiabank ATMs, Scotiabank Point of Sale (POS) machines, the Scotia Caribbean App and Scotia OnLine Banking. 
  • Additional branch/cheque transactions - $6.00
Electronic Access Youth Account (18 to 25 yrs) - for customers who wish to bank digitally.
  • $10.00 monthly service charge
  • Unlimited transactions at Scotiabank ATMs, Scotiabank Point of Sale (POS) machines, the Scotia Caribbean App and Scotia OnLine Banking. 
  • Additional Transaction Fees: Branch transactions - $8.00 (Increased to $10.00, effective Nov 1, 2021)

US Dollar Savings Accounts

Unlimited self-service transactions on proprietary channels
  • Monthly fee - $2.00 
  • Branch transaction - $1.50
Other Services (US Accounts)
  • Standing orders (Set-up charge) - $10.00
  • Standing orders (Scotiabank Loans Excluded) - $7.00
  • Certificate of Balance - $6.00
  • Additional Information on average balance - $4.00
Search for Voucher (per item)
  • Items <3 months - $3.00 
  • 3 months to 1 year - $5.00
  • > 1 year - $10.00
Accounts closed within:
  • 3 months - $10.00
  • Notice of Dormant Accounts (all levels excluding prior to publication) - $5.00

Small Business

  • Application Fee (Normal) - Loans/Overdraft/Credit Line & Guarantees: Readily Realized Collateral Secured Facility (RCC) - 1.5% of the net amount (min. $500) 
  • Settlement letter - $100.00
  • Statement letter - $100.00
  • Letter of Non-Indebtedness - $50.00
  • Renewal Fee ¼ % to 1% of net amount, min $500.00
  • Wire transfers processed in branch - $150.00
  • Outgoing wire transfers processed via Cash Management Services - $75.00
  • Incoming Wire Transfers Fees - No Charge
  • Returned Items - $50.00

Interest rates – Deposit Accounts (TT and US):

  • There are various methods to calculate interest rates on Savings Accounts as it is dependent on the type of account. Please check with our staff for full details.
  • Changes in interest rates will be posted in branches before they take effect.
  • Interest Rates on Term Deposits are fixed for the duration of the deposit.
  • Should you withdraw the funds from your Term Deposits before the maturity date, a reduced rate of interest will apply.