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Scotia Momentum for Business VISA Credit CardCash Back Benefits
Here's a smart way to manage your day-to-day business purchases:
3% Cash Back
On eligible gas station, restaurant or office supply store purchases1
Also earn 3% on recurring bill payments1, such as:
You can set up automatic payments by simply calling your service provider or finding them online at visa.ca/billpay.
1% cash back
On all other eligible purchases made with your card1.
Extended Interest-Free Grace Period
Reduce your interest charges and increases your average monthly cash balance with:
- a minimum 25 days interest-free grace period on purchases2
- four more interest free days before your payment is due
Get additional cards4 for employees to:Travel Insurance and Business Protection
Valuable business benefits & protection3
- Travel Emergency Medical Insurance
- Rental Car Collision/Loss Damage Insurance
- Purchase Security and Extended Warranty
- Creditor Life Insurance for your business (Optional)
Travel Emergency Medical Insurance
- As aScotia Momentum for businessVISA cardmember, you, your spouse and accompanying dependent children are each automatically covered for up to $1 million in emergency medical coverage if sudden and unexpected illness or accidental injury should occur while travelling outside your province or territory of residence in Canada.
- Coverage is automatically provided for eligible persons under 65 years of age for up to 8 consecutive days and for eligible persons 65 years of age and older for up to 3 consecutive days.
- Coverage includes eligible expenses for hospital care, nursing care, prescription drugs, licensed ambulances and physicians' and surgeons' fees, as well as other eligible medical services and supplies.
- The date of departure is counted as the first day.
- This benefit is subject to an exclusion for pre-existing medical conditions.
- Certificate of Travel Emergency Medical Insurance (52 Kb)
Rental Car Collision/Loss Damage Insurance
- When you charge the entire cost of car rental to yourScotia Momentum for businessVISA card and decline the agency's collision damage waiver or loss damage waiver (or similar provision) at the time of rental, you'll be insured if your rental vehicle is damaged or stolen.
- Certificate of Rental Car Collision Insurance (44 Kb)
Purchase Security and Extended Warranty
- Most items purchased anywhere in the world are automatically insured against theft, loss or damage as long as the full cost of the item is charged to yourScotia Momentum for businessVISA card.
- Coverage extends for the first 90 days from the date of purchase and is in excess of any other insurance coverage.
- When you use yourScotia Momentum for businessVISA card to purchase most items and charge the full cost of the item to your card, extended warranty coverage doubles the original manufacturer's warranty for up to one year. Items covered by a manufacturer's warranty repair services of five years or more must be registered within the first year of purchase.
- Certificate of Purchase Security Insurance (47 kb)
Scotia Business Loan Protection (Optional)3
Scotia Business Loan Protection is simple but effective insurance. If you or another key employee loses the ability to work, Scotia Business Loan Protection can make regular payments or completely pay off your Scotiabank line of credit, loan or credit card. If you or another key employee passes away, your outstanding loan amounts can be paid in full.
It's easy to apply: Simply visit any Scotiabank branch and apply. 5Special Discounts
Turn business purchases into business savings with Visa SavingsEdge. It's free to join. Just enrol your eligible Scotiabank Visa Business card at www.visasavingsedge.ca. Then make qualifying† purchases with your enrolled card at participating merchants. Savings will appear as credits on your future account statements.Rates & Fees
Minimum Credit Limit: $500
Maximum Credit Limit: $50,000
Interest-Free Grace Period: At least 25 days2
Annual Fee: $496
Additional Card Annual Fee: $296
- 19.99% on purchases
- 22.99% on cash advances, balance transfers andScotia ® Credit Card cheques
For current rates and information on fees and interest cost, call 1-888-882-8958.
Learn more about credit card fees and credit card interest rates.Convenience & Account Access
Instant cash advances, worldwide
You can use yourScotia Momentum for businessVISA card to get instant cash advances up to your available credit limit, at any of 465,000 offices of financial institutions worldwide displaying the VISA symbol.
Click, call or visit
We recognize how valuable your time is as a small business owner. You can access yourScotia Momentum for businessVISA account information throughScotia OnLine ® Financial Services andTeleScotia ® Telephone Banking Services to:
- Obtain account balances
- Pay yourScotia Momentum for businessVISA account
- Transfer funds between credit and deposit accounts
- Pay bills or post-date payments for over 6,000 bill payment companies
All you need is aScotiaCard ® set up with access to yourScotia Momentum for businessVISA account. For more information or to register, just call 1 800 4SCOTIA or visit scotiabank.com.
Automated banking machines
You can also use yourScotia Momentum for businessVISA card to obtain up to $2,000 per day through over 1 million designated Automatic Banking Machines (ABMs) worldwide. Cash advances can be obtained at any ABM displaying one or more of the following symbols: In Canada, look for the Interac** symbols; outside Canada, look for banking machines displaying the VISA or PLUS* symbols.
Visa payWave™* – The faster way to pay
Visa payWave is a convenient new payment feature included onScotia Momentum for businessVISA cards at no additional fee. You'll save time when paying for small, everyday business purchases. Simply wave your cardover a special card reader and go! No swiping, signing, or entering your PIN for most purchases at participating merchants.7
- †† You will earn 5% cash back on the first $3,000 in purchases posted to your new account beginning on the account open date and ending three months after the account open date. You will earn regular cash back on purchases made after you have reached the 5% threshold / $3,000 in purchase in the first three months. The bonus cash back amount will be applied to yourScotia Momentum for businessVisa account (the
“Account”) within 2–3 months after the three-month offer period ends provided your Account is open and in good standing. All other terms of the Cash Back Program Terms and Conditions that apply to your Account continue to apply during this promotional offer. Cash Back is not awarded for cash advances (including balance transfers,Scotia ® Credit Card cheques or cash-like transactions), fees, interest, service/transaction charges, payments, or returns and other similar credits. Offer applies to new Accounts opened by March 31, 2017. Offer may be changed or extended and cannot be combined with any other offer.
The introductory 1.99% interest rate applies to cash advances, balance transfers andScotia ® Credit Card Cheques only. This rate applies when the new Scotiabank credit card account (“Account”) is opened and will then continue for 6 months from that date. After the promotional period, the 1.99% rate on any promotional balances (including that remain unpaid after the offer ends) will increase to the regular interest rate for cash advances, balance transfers and Scotia Credit Card Cheques on your Account. Rates and fees are subject to change without notice. Offer applies to new Accounts only that are opened by March 31, 2017. This offer cannot be used to transfer a balance from another Scotiabank account, or to make a payment or deposit to another Scotiabank account. Offer may be changed or extended and cannot be combined with any other offer. Read More
- 1 You will earn 3% cash back on the first $50,000 you spend annually at gas stations, restaurants, office supply stores, and on recurring bill payments. 3% cash back applies at merchants which are classified in the Visa Inc. (VISA) network Service Stations (with or without ancillary services) and Automated Fuel Dispensers; Restaurants, Fast Food Restaurants and Bars; Stationery and Office Supply Stores; and Recurring Payments (Merchant Codes: 5541 & 5542; 5812, 5813 & 5814; and 5111 & 5943). Recurring payments are defined as payments made on a monthly or regular basis automatically billed by the merchant to yourScotia Momentum for businessVISA card. Recurring payments are typically telecommunication, insurance, membership, subscriptions etc. purchases. Not all merchants offer recurring payments. ( Please check with your merchant to see if they offer recurring payments on VISA cards. ) Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by VISA in another manner, in which case this added benefit would not apply. You will earn 1% cash back on purchases made after you have reached the 3% $50,000 annual spend maximum and on all other eligible purchases made with the card.
Cash back is not awarded for cash advances,Scotia ® Credit Card Cheques, credit vouchers, payments, purchase returns, card fees, interest charges or service / transaction charges.
- 2 Not including cash advances, balance transfers and Scotia Credit Card cheques. Provided that you pay your balance in full by the payment due date.
- 3 For all insurance coverages, certain limitations, restrictions and exclusions apply. You will receive Certificates of Insurance, which contain a full description of coverage, when you're approved for the card. Please read them carefully. All claims for insurance indemnities must be forwarded to the insurers. The Bank of Nova Scotia is not the insurer.
- 4 You are liable for all charges incurred on your account with any supplementary card issued in connection with the account. When you request Scotiabank to issue a supplementary card, we will also issue renewal and replacement cards for such supplementary card, unless the card is cancelled by you or Scotiabank. A Supplementary Cardholder's signature on or use or retention of the supplementary card issued in his or her name shall evidence your receipt of the agreements relating to the account and your acceptance of their terms.
- 5 NOTICE OF THIRTY DAY RIGHT TO EXAMINE COVERAGE: Within thirty (30) days of your coverage effective date, you may cancel the coverage. At such time, any premium paid will be refunded through a credit to your Account. . For more information simply call 1-855-753-4272 between 8:00 am and 8:00pm ET and one of our Insurance Customer Service Representatives will be pleased to assist you. Scotia Business Loan Protection is underwritten by The Canada Life Assurance Company.
- 6 Annual fee of $49 for the first card and an annual fee of $29 for each additional card to be charged when the card is issued, regardless of card activation and will be billed to your first statement and once a year thereafter.
- 7 Merchants set their own limits for the maximum value of a Visa payWave transaction that does not require a signature or PIN.
- ® Registered trademarks of The Bank of Nova Scotia.
- ®1 Registered trademarks of Visa/Licensed User.
- * Visa Int./Lic. user The Bank of Nova Scotia.
- **The Bank of Nova Scotia is an authorized user of the mark.
- ™* Trademark of Visa Int./Lic. User The Bank of Nova Scotia.
- † Visa SavingsEdge is an automated discount program offered by Visa Canada Corporation ("Visa Canada") to eligible businesses and their authorized cardholders that hold an eligible Visa Business card and whose enrolment in the program is accepted by Visa. Under the program, cardholders can receive discounts from participating merchants each time the cardholder uses an enrolled Visa Business card to make qualifying purchases of goods or services pursuant to an active discount offered by the merchant and that transaction is processed or submitted through the Visa payment system. Discounts provided will appear as credits on future credit card statements 8-10 weeks after purchase date. All terms, conditions and restrictions applicable to the Visa SavingsEdge program are established by Visa Canada, and are available here. Visa Canada, not Scotiabank, is responsible for the Program. For details, visit www.visasavingsedge.ca. The following Scotiabank VISA Business cards are eligible: Scotia Momentum for business VISA* card, Scotia Gold Passport for business VISA* card, ScotiaLine for business VISA* Card and Scotiabank VISA* Business Card.
Category: Business card