Upcoming changes to select bank accounts and services

[Pages:3]New enhancements for our everyday banking customers

Banking Packages

Spend, save and invest all from one package with our new and improved banking solutions. Both the Preferred Package and Ultimate Package are designed to meet more of your everyday banking needs.

International Money Transfer

Send money globally for $1.991 with Scotia International Money Transfer* using Scotia OnLine or the mobile app. Ultimate Package and new to Canada customers can send money with no transaction fee.1

Redesigned Mobile App Upgraded Youth Account

Whether you're waiting in line or only have one hand free, we redesigned the new Scotia Mobile app so that when real life happens, you can still bank the way you want.

Our Getting There Savings Program for Youth will now include unlimited Interac e-Transfer transactions, so you can send and receive money from friends and family for FREE.

Upcoming changes to select bank accounts and services

A full summary of changes and the effective date of each change is listed below. We encourage you to review these changes and ways to save so you can get the most value from your everyday banking.

Changes to Bank Accounts If you have one of the accounts listed below, these changes will impact you.

Ultimate Package Annual Safety Deposit Box fee waiver Getting There Savings Program for Youth Interac e-Transfer transactions per month Powerchequing Account (No longer offered to new customers) Monthly Account Fee Minimum daily closing balance required for monthly account fee waiver

Current

Effective May 1, 2020

Credit of $55.00/year or equivalent to a FREE small box

Credit of $60.00/year or equivalent to a FREE small box2

2 free per month ($1.00 each additional)

Unlimited ($0.00/transaction)

$4.95 $2,000

$6.95 $3,000

Scotia Value Account (No longer offered to new customers)

Monthly Account Fee

$15.95

$17.95

Changes to Banking Services If you have a Scotiabank Day to Day Bank Account2, these changes may impact you.

Transaction & Ancillary Services

Current

Effective May 1, 2020

Each Interac e-Transfer transaction

$1.00

$1.50

Access fee for each non-Scotiabank Interac ABM withdrawal in Canada5

$1.50

$2.00

Ways to Save

? Most of our accounts include a minimum of 2 free Interac e-Transfer transactions per month.4

? Our Preferred Package and Ultimate Package accounts feature unlimited free Interac e-Transfer transactions.

? Our Ultimate Package provides free Global non-Scotiabank ABM withdrawals.5

? Our Preferred Package provides 1 free non-Scotiabank Interac ABM withdrawal in Canada.5

Each Canadian or U.S. Drafts purchase

$7.50

Safety Deposit Box Small (Type A) Medium (Type B) Large (Type C)

Current Annual Fee $55.00 $75.00 $125.00

$9.50

Effective May 1, 2020 $60.00 $90.00 $150.00

? Our Ultimate Package provides free unlimited Canadian and U.S. dollar drafts.

Ways to Save

? Our Ultimate Package provides a $60.00 discount on Safety Deposit Boxes.2

? Not using all the space in your Safety Deposit Box? Consider switching to a different size to save on fees.

Passbook updates are currently available at select Scotiabank ABMs. However, after July 1, 2020, this service will not be available on any Scotiabank ABM. You will still be able to update your passbook by visiting any Scotiabank branch.

For a complete list of fees and other banking options, please refer to the Day-to-Day Banking Companion Booklet.

Changes to Overdraft Protection6

If you are an existing customer with Overdraft Protection, you will be automatically migrated from our current Overdraft Protection Plan to our new Pay-per-use Overdraft Protection Plan, effective July 19, 2020. For your convenience and to better suit your individual banking needs, you also have the option to switch to our new Monthly Overdraft Protection Plan, starting July 19, 2020.

Existing customers within Quebec who had Overdraft Protection before July 19, 2020 will remain on the current Overdraft Protection Plan. The above changes to Overdraft Protection do not apply to residents in Quebec.

There are no changes to the 21% annual interest, calculated daily on the daily closing overdrawn balance and charged monthly.

Current

Effective July 19, 2020

Other Options

There is no monthly fee Existing customers (outside Quebec) with Overdraft Protection will be automatically ? If you think you will use

if you do not use

migrated to the Pay-per-use Overdraft Protection Plan as described below.

overdraft protection more

Overdraft Protection.

? Pay-per-use Overdraft Protection Plan: There is a $5.00 Per-use Overdraft

than once a month, switch

Protection fee applied on the same day or the next business day every time an

to the Monthly Overdraft

There is a $5.00 fee per

overdraft is created or increased in your account. There is no Per-use Overdraft

Protection Plan where you

month if your account is overdrawn a day or more.

Protection fee if you do not use the overdraft.

Both existing and new customers will be able to apply for the Monthly Overdraft Protection Plan as described below.

only pay a $5 flat fee per month, no matter how many times you go into overdraft. ? Consider enrolling in

? Monthly Overdraft Protection Plan: There is a $5.00 Monthly Overdraft

Scotiabank's Ultimate

Protection fee that is applied at the end of your statement billing cycle,

Package. Ultimate Package

regardless of the number of overdraft transactions as long as the overdrawn

account holders benefit

balance is within the pre-authorized limit. This fee will apply even if your

from having overdraft

account did not go into overdraft in that month.

protection fees waived.7

Changes to Scotia Rewards? Point Redemption If you earn Scotia Rewards points, these changes will impact you.

Effective, May 4, 2020, we are making some changes6 to Scotia Rewards point redemption requirement for certain non-travel categories (includes the point redemptions for Points for Credit, Gift Cards, and merchandise in the Apple and Best Buy Catalogues8). For full details, visit , or contact us at 1-800-665-2582.

? Registered trademarks of The Bank of Nova Scotia TM Trademarks of The Bank of Nova Scotia. Interac e-Transfer is a registered trade-mark of Interac Corp. Used under license

* Visa Int./ Licensed user. ? 2020 Apple Inc. All rights reserved. ? 2020 Best Buy Canada Ltd. All rights reserved.

1. Foreign currency exchange rates apply. For Ultimate Package customers and customers onboarded as a part of the Scotiabank StartRight Program, we do not charge a service fee for the transfer, however, foreign currency exchange rates apply.

2. Subject to availability. Upon activation, the primary account holder of the Ultimate Package account who gets a safety deposit box will receive a $60.00 fee waiver (value of a small safety deposit box) applied annually as long as the account is in good standing. Limit of one (1) annual fee waiver per Ultimate Package account.

3. For a complete list of accounts that are impacted by these changes, please visit accountchanges. 4. Accounts that include a minimum of 2 free Interac e-Transfer transactions include: Basic Bank Account (2), Powerchequing (2), Scotia Value (2), Scotia One Service (2). Basic Plus Bank

Account (10), Preferred Package (Unlimited), Ultimate Package (Unlimited), Student Banking Advantage Plan (Unlimited), Getting There Savings Plan (Unlimited, starting May 1st). 5. Ultimate Package account includes non-Scotiabank Interac ABM cash withdrawals in Canada and cash withdrawals at non-Scotiabank Visa* or PLUS* ABMs within and outside of Canada.

Account holders may still be charged a convenience fee by the other bank and ABM operator, not by Scotiabank. Preferred Package account includes 1 free non-Scotiabank Interac ABM cash withdrawal within Canada per month. Access fee for each subsequent cash withdrawal at non-Scotiabank Interac ABMs will be charged $2.00 per withdrawal. Each cash withdrawal from non-Scotiabank Visa* or PLUS* ABMs will be charged $3.00 in Canada and the U.S. and $5.00 outside of Canada and the U.S. Account holders may still be charged a convenience fee by the other bank and ABM operator, not by Scotiabank. 6. These changes do not apply if you are a resident of Quebec. 7. Ultimate Package account holders who add Pay-per-use Overdraft Protection Plan or Monthly Overdraft Protection Plan to their account will have the Per-Use Overdraft Protection fee(s) or Monthly Overdraft Protection fee(s) automatically waived when the account is overdrawn. Interest will remain to be payable on overdrawn balances, calculated daily at 21% (per annum) and charged monthly. The account must have a positive balance at least once every 30 days. A $5.00 handling fee will be charged for each item that is paid while the account is overdrawn more than the authorized limit. Subject to approval. 8. The Scotia Rewards Program is operated by The Bank of Nova Scotia.

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