Current Rates & Fees

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

Last Updated: 30/May/2020

Visa Debit ScotiaCard

 Replacement ABM/Scotiacard 
Free
ATM Networking Fees (LINX) 
Free for Scotiabank ATMs
Another Banks withdrawals: TT$4.00
Another Bank’s inquiry: TT$0.62
Another Bank’s declined transaction: TT$1.15
Point of Sales 
Debit Transaction Fee (LINX) 
Free for Scotiabank POS terminals
Another Banks 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 ++
Balance Enquiry 

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
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 3% 
Minimum $300.00

ScotiaLine Fees

 Annual Fee
$400.00 
 Late Payment Fee
$100.00
Cash Advance
NIL
 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 3%
Minimum $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% or $50 Minimum
Replacement Lost/Stolen/Damaged Card 
$100.00
NSF 
$50.00
Credit Report Fee
$175.00
Replacement Statement 
$30.00
3% Minimum payment 
Minimum $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)

Transfer of funds between accounts to cover cheques - $ 20.00

Manager's Cheques/Local Draft:

  • Less than $5,000 TT Sold - $ 30.00
  • Stop Payment - $ 30.00
  • Greater than $5,000 TT Sold - $ 30.00
  • 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
  • plus cost of drilling Minimum - $ 600.00
  • 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 plus out of pocket expense - $ 60.00

Facsimile Fee - $ 25.00

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

Deposit Box - $ 600.00

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

instance, will be waived if legitimate fraud) - $ 100.00

Overdraft Protection

Monthly Charge - $ 30.00

Handling Charge (per occurrence) if over limit - $ 20.00 plus over limit interest

Casual Overdraft 

Monthly Charge - $ 30.00

Handling Charge (per occurrence) - $ 20.00

Paper statement fee - Deposit accounts (monthly) - Nil

Standing Order

Set-up charge - $ 10.00

Transaction charge (excluding loan payments) - $ 7.00

*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
Min$1,250
Early Settlement of Loans other than Real Estate 
2 months interest 

Minimum $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

Real Estate

 Pre-payment/Early Settlement 
Refer to your Personal Credit Agreement or contact your Personal Banking Officer
Discount Fee
 
Commitment Fee
1.5%
New Mortgage Initial Inspection
 
Vacant Land
$1840.00
Property Value Less than $1.5MM 
$2,240.00
Property value between $1.5MM and $3.0MM
$3,640.00
Property value between $3.0MM and $5.0MM
$5,140.00 
Property value >$5.0MM
$7,640.00
Subsequent inspections
 
HBL
$1,340.00
Non-HBL
$750.00
Drive by inspections
$1,140.00
 Customer Letters
$60.00
Overdue Installments (Late Payment Fee) 
3% of the amount in arrears, Minimum $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 eort 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.

Savings Accounts

Primary Savings
  • $12.00 Monthly Service Charge
  • $10.00 minimum balance charge if daily closing balance falls below $1000
  • $100 minimum opening balance
  • 1 free branch transaction per month***
  • Additional Transaction Fees: Branch transactions - $8.00
  • Tiered interest rate
Signature Savings
  • $15.00 Monthly fee
  • $12.00 minimum balance charge if daily closing balance falls below $15,000  
  • 1 free branch transaction per month***
  • 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 self-service transfers between Scotiabank Accounts

Everyday Banking Accounts

Payroll Access Account
  •  No monthly service charge
  • Unlimited self-service transfers between Scotiabank Accounts & Unlimited Proprietary electronic transactions
ClubS
  • No monthly service charge on Payroll Access Account
  • No Fees on Scotiabank ATMs and POS Machines
  • Annual membership waived in 1st yr for all approved credit cards
  • Annual fee waived in 1st yr for all approved Scotia Line Gold accounts
  • Unlimited self-service transfers between Scotiabank Accounts & Unlimited Proprietary electronic transactions
  • 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***
  • Additional Transaction Fees: Branch transactions- $8.00
  • Unlimited self-service transfers between Scotiabank Accounts & Unlimited Proprietary electronic transactions
Electronic Access
  • $15.00 monthly service charge
  •  Unlimited self-service transactions on proprietary channels 
  • 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 years of age and older (Free)
  • No monthly service charge
  • No minimum balance charge
  • No paper statement fee
  • 12 free Branch/Cheque transactions
  • Unlimited self-service transfers between Scotiabank Accounts & Unlimited Proprietary electronic transactions
 Electronic Account Youth - For customers between 18 to 25 years of age
  • $10.00 monthly service charge
  • Unlimited self-service transactions on proprietary channels

Primary Savings Account

Unlimited self-service transactions on proprietary channels
  • Monthly fee $ 2.00 USD
  • Branch transaction $1.50

US Dollar Savings Accounts

Unlimited self-service transactions on proprietary channels
  • Monthly fee $ 2.00 USD
  • 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; Minimum - $ 500.00
  • Wire transfers processed in branch - $150.00
  • Out going Wire Transfers processed via Cash Management Services - $75
  • Incoming Wire Transfers Fees - No Charge
  • Returned Items : $50

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