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Scotia Euro Daily Interest Savings Account review

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Scotia Euro Daily Interest Savings Account
Promotional Rate
N/A
Transaction Fee
€1.25 per transaction
All information about Scotia Euro Daily Interest Savings Account has been collected independently by Finder. Finder is not connected with Scotiabank products, and this page is not sponsored, endorsed or administered by, or associated with, Scotiabank. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.

Our verdict

Save money in euros with this low fee savings account.

The Scotia Euro Daily Interest Savings Account comes with 2 free teller-assisted transactions per month and competitive foreign exchange rates. Just be aware that this account charges a monthly fee of €1 and you won't be able to carry out any of your banking online.

Pros

  • Low monthly fees
  • Free transfers
  • No minimum deposits

Cons

  • No online application
  • Limited transactions
  • No online transfers

In this guide

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Please note: All information about Scotia Euro Daily Interest Savings Account has been collected independently by Finder and this product is not available through this site.

What are the benefits of the Scotia Euro Daily Interest Savings Account?

The Scotia Euro Daily Interest Savings Account comes with several benefits:

  • Low monthly fees. The monthly fee for this account is only €1 (which is around CAD$1.50).
  • Free transfers. You’ll get two free teller-assisted transactions per month, but you won’t be able to carry out online banking services with this account.
  • No minimum deposits. There are no minimum deposit requirements to keep this account active.
  • Competitive exchange rates. You’ll be able to transfer your funds into euros and back to Canadian dollars with competitive exchange rates.

What should I look out for?

The Scotia Euro Daily Interest Savings Account comes with a couple of drawbacks:

  • No online application. You won’t be able to sign up for this account online since you can only sign up by visiting a branch in person.
  • Limited transactions. You’ll only get two free transactions per month and after that you’ll be required to pay €1.25 per transaction.
  • No online transfers. You won’t be able to use your online banking to send or receive funds in this account (all transactions must be carried out at a branch location).
  • No ATM withdrawals. Only teller-assisted debits are allowed on this account, so it’s not possible to make ATM withdrawals or debit purchases.

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How do I open a Scotia Euro Daily Interest Savings Account?

Follow these steps to open a Scotia Euro Daily Interest Savings Account online:

  1. Go to Scotiabank’s website and find the page for the Scotia Euro Daily Interest Savings Account.
  2. Click on the “Book appointment” button when you land on the page.
  3. Gather information to bring to your appointment and be prepared to submit personal details such as your name, address, Social Insurance Number and government-issued ID to prove your identity.

Eligibility requirements

To apply for a Scotia Euro Daily Interest Savings Account, you need to meet the following criteria:

  • Be a Canadian citizen or resident who is at least 18 years old (19 in some provinces)
  • Be opening a sole account in your name

Required documents and information

  • Your name, residential status and contact information
  • Your Social Insurance Number (optional) and date of birth
  • Your email address and phone number

How do I deposit or withdraw my money?

Once you put money into your Scotia Euro Daily Interest Savings Account, the only way you can transfer it out is by visiting a branch in person. You’ll also be limited in how you can access your funds since you won’t have access to ATM withdrawals, debit purchases, online transfers or Interac e-Transfers.

You’ll be able to deposit funds into this account by sending them to yourself from your other Scotiabank accounts using an internal transfer. This seems to be the only way to make a deposit, other than by visiting a branch in person to deposit cash or a cheque.

How can I get in touch with customer service?

There are a few options available for you to connect with Scotiabank customer service:

  • By phone. Call Scotiabank’s toll-free number 24 hours a day, 7 days a week.
  • In person. Visit a branch in person to speak to an agent about your banking needs.
  • By email. Contact Scotiabank by sending a secure message through your online banking account.
  • Through social media. Use Facebook or Twitter to ask any questions you may have about the Scotia Euro Daily Interest Savings Account.

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