Reviewed by Jen, founder of MoneyMint · Updated August 15, 2026

Scotiabank®Newcomer Banking Bundle

Scotiabank StartRight®

Q: What interest rate does the Scotiabank StartRight Program offer?

Not disclosed on any Scotiabank page reviewed -- this is a standard chequing account, and no interest rate could be found for it. Do not assume it earns interest; verify directly with Scotiabank before you apply. Not applicable -- see Welcome Bonus below for the newcomer cash promotion, which is separate from any account interest rate.

Our take: a newcomer bundle with the first year of chequing fees waived, no Canadian credit history required and up to $1,000 in cash offers^* — the trade-off is a $16.95 fee once year one ends.

At a glanceBundled chequing, savings & credit card built for newcomers to Canada

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The Scotiabank StartRight Program is a newcomer banking bundle, not a single account — it pairs a Preferred Package chequing account with your choice of an unsecured credit card, available with no Canadian credit history required. It’s aimed specifically at recent permanent residents, international students, and foreign workers, and its main advantage is letting newcomers build Canadian credit and banking history faster than they typically could otherwise.

At a Glance

Program Type

Newcomer Banking Bundlechequing + savings + credit card package

Monthly Fee

$16.95/mowaived for the first 12 months for eligible newcomers

Fee Waiver After Year 1

$4,000 balanceminimum daily closing balance required to keep the fee waived; otherwise $16.95/mo applies

Interest Rate

Not disclosedno chequing interest rate found on any official Scotiabank page reviewed

Credit History Required

NoneNova Credit imports history from 15 countries for the bundled credit card

Credit Card Limit

Up to $15,000for the bundled credit card, subject to standard credit approval — not guaranteed

Branch & Language Access

900+ branchesmultilingual support in 50+ languages

Advertised Offer

Up to $2,300^*combined first-year value across bundled products — time-limited, verify exact terms before applying

Note: No chequing account interest rate is disclosed on any Scotiabank page reviewed, and the advertised “up to $2,300” first-year figure is a combined, time-limited total across multiple bundled products — double-check current terms directly on startright.scotiabank.com before applying.

When the newcomer offer runs out: StartRight’s fee waiver lasts 12 months. After that, most people move to one of Scotiabank’s regular packages — the Preferred Package at $16.95 a month (waived with a $4,000 balance) or the Ultimate Package at $30.95. For savings, the MomentumPLUS Savings Account pays more than Scotiabank’s own HISA for anyone without a large balance at the bank.

Pros & Cons

Pros

No Canadian credit history required for the bundled credit card, with limits up to $15,000 subject to standard credit approval
12-month chequing fee waiver, extendable afterward by maintaining a $4,000 minimum daily balance
Unlimited no-fee international money transfers
Nova Credit integration imports international credit history from 15 countries, including India, the UK, the US, Australia, Mexico, and the Philippines
Multilingual support in 50+ languages, plus 900+ branches and 24/7 digital banking
Four credit card tiers, so lower-income newcomers can still qualify for a $0-annual-fee card

Cons

The $16.95/month chequing fee returns after 12 months unless you maintain a $4,000 daily balance
The flagship Passport Visa Infinite+ card requires roughly $60,000–$80,000 individual income (or $100,000–$150,000 household) — often unrealistic for newcomers without Canadian employment history
The $15,000 credit limit is a ceiling, not a guarantee
The welcome offer is split into multiple conditional tranches paid out over 9–10 months, so it’s easy to overstate the real value
Promotions are time-limited and revised frequently — figures found will likely differ by the time you apply
No chequing account interest rate is disclosed anywhere

Who It’s For

Best For

Newcomers to Canada without a Canadian credit history who need a bundled banking + credit card starting point
People who value in-person branch access and multilingual support
Applicants comfortable navigating multiple conditional bonus tranches paid out over months

Not For

Newcomers seeking the flagship Passport Visa Infinite+ perks without a high income (~$60,000–$80,000 individual)
Anyone wanting a simple, single-product account rather than a bundle
Long-term account holders unwilling to maintain a $4,000 balance after the 12-month fee waiver ends

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Scotiabank StartRight Program

$17/month · branches · up to $1,000 welcome offer^* · $75 Mint Rebate from MoneyMint

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Jen, founder of MoneyMint

Reviewed by Jen. Every figure on this page was checked against Scotiabank’s official page on August 15, 2026.

This is general information, not personalized financial advice — consider your own banking needs and consult a professional for decisions specific to your situation. Fees, rates, and offers are set by Scotiabank and can change without notice; always confirm current terms on the issuer’s official page before applying.

Frequently Asked Questions

Does the Scotiabank StartRight Program charge a monthly fee?

The Scotiabank StartRight Program has a monthly fee of Preferred Package chequing: $16.95/month standard, waived for the first 12 months for eligible newcomers. After year one, the fee is waived only if you maintain a $4,000 minimum daily closing balance — otherwise the $16.95/month fee applies. You can’t have held a Scotiabank chequing account in the prior 2 years to qualify.

What interest rate does the Scotiabank StartRight Program offer?

Not disclosed on any Scotiabank page reviewed — this is a standard chequing account, and no interest rate could be found for it. Do not assume it earns interest; verify directly with Scotiabank before you apply. Not applicable — see Welcome Bonus below for the newcomer cash promotion, which is separate from any account interest rate.

Is there a minimum balance required for the Scotiabank StartRight Program?

$4,000 daily closing balance needed to keep the monthly fee waived after the first 12 months. No minimum is required to open the account or during the initial waiver period.

How many free transactions does the Scotiabank StartRight Program include?

Unlimited debit transactions and Interac e-Transfers on the Preferred Package. One non-Scotiabank ABM fee rebated per month. Unlimited no-fee Scotia international money transfers from eligible accounts. Access to 900+ Scotiabank branches plus 24/7 digital and phone banking, with multilingual support in 50+ languages.

Does the Scotiabank StartRight Program have a welcome bonus or promotional offer?

As of research date (Aug 15, 2026), Scotiabank was advertising up to $1,000 cash for the chequing/savings bundle: $700 for opening the Preferred Package with direct deposit and a qualifying transaction, plus $200 for bundling Money Master Savings with the Smart Savings tool, plus $100 for bundling an eligible new credit card with one qualifying purchase. Stated as valid July 3 to October 29, 2026. A separate Passport Visa Infinite+ card offer advertised up to $1,250 in value (25,000 Scene+ points on $2,000 spend over 3 months, plus a 10,000-point annual bonus and a fee rebate), stated valid August 4 to November 1, 2026 — combined, Scotiabank’s headline figure was ‘up to $2,300 in first-year value.’ All bonuses are conditioned on the account remaining open and in good standing, are typically paid out over 9-10 months, and are limited to one offer per customer. These figures cycle every few months — double-check directly on startright.scotiabank.com before you apply or relying on any specific dollar amount.

Offer Terms and Conditions

*Terms and conditions apply. See Card Provider’s website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.