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The Scotiabank Savings Accelerator Account lets you earn up to 1.4% on your savings (or 1.5% if you have a balance over $0). There are no minimum deposit requirements and you won’t have to pay monthly fees to keep your account active.
The Scotiabank Savings Accelerator Account is a very basic savings account that lets you earn up to 1.4% on your savings (or 1.5% if you have a balance over $0). There are no minimum deposit requirements and you won’t have to pay monthly fees to keep your account active. Just be aware that you’ll pay a $5 fee for every transaction you make on this account aside from internal transfers.
The Scotiabank Savings Accelerator Account could be a good fit for you if you want a safe place to park your savings. This account comes with no monthly fees, and you’ll earn an interest rate of 1.4% on whatever balance you hold in your account.
You’ll also enjoy free internal transfers between your Scotiabank accounts, but you will have to pay a $5 fee to carry out any other type of transaction. This account can also be held as a registered plan such as an RRSP or TFSA.
You can take advantage of several benefits with the Scotiabank Savings Accelerator Account. These include the following:
There are a handful of drawbacks to be aware of with the Scotiabank Savings Accelerator Account:
Follow these steps to open a Scotiabank Savings Accelerator Account online:
To apply for a Scotiabank Savings Accelerator Account, you need to meet the following criteria:
Required documents and information
You’ll be able to withdraw cash from your account by sending it to yourself via an internal Scotiabank transfer. You can also withdraw cash in-person at a branch, though this will cost you $5 each time. It won’t be possible to take money out at an ATM.
You’ll be able to deposit funds by transferring money into your account or by cashing a cheque or depositing cash with a teller. You should also be able to transfer money into your account or deposit a cheque electronically using the Scotiabank Mobile app.
You can easily connect with Scotiabank by using the following channels:
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