Day to Day Banking
What account do most people use to pay bills and make everyday purchases?
What is a chequing account?
Bonus fact: Scotiabank offers several chequing account options that can include unlimited transactions and a $200 welcome bonus!
What can a credit card give you as a reward on everyday purchases?
What are reward points?
Bonus fact: Many Scotiabank credit cards earn Scene+ points that can be redeemed for groceries, movies, travel, dining, and more.
This account is designed to help you set money aside for future goals.
What is a savings account?
Fun fact: Open a savings account with Scotia and get 2,500 Scene+ points!
This is a plan that tracks how money is earned, spent, and saved.
What is a budget?
This popular Canadian service allows people to send money electronically using an email address or phone number.
What is Interac e-Transfer?
What is the safest place to keep money instead of carrying cash everywhere?
What is a bank account?
Bonus fact: A bank account lets you access your money through online banking, debit cards, and ATMs. Scotia provides you with unlimited transactions!
What is the biggest advantage of paying your credit card balance in full each month?
What is avoiding interest charges?
Bonus fact: Paying in full can also help build a positive credit history.
This is the money a bank pays you for keeping funds in certain savings accounts.
What is interest?
Knowing both of these is essential when creating a successful budget.
What are income and expenses?
This feature allows e-Transfers to be deposited automatically without answering a security question.
What is Autodeposit?
What card is usually connected directly to your bank account for purchases?
What is a debit card?
Bonus fact: A Scotiabank debit card can be used for purchases, ATM access, and online transactions with participating merchants.
What score helps lenders assess how responsible you are with credit?
What is a credit score?
This fund is intended to help cover unexpected expenses such as car repairs or emergencies.
What is an emergency fund?
This happens when you spend less money than you earn.
What is saving money?
Before sending money electronically, you should always do this to avoid sending funds to the wrong person.
What is verify the recipient's information?
What service allows you to check your account balance from your phone?
What is mobile banking?
Bonus fact: The Scotia Mobile App lets clients view accounts, transfer money, and pay bills.
What is paying bills on time?
Other acceptable answers: Keeping balances low or making regular payments.
This registered account helps Canadians save for retirement while receiving potential tax advantages.
What is an RRSP?
Financial experts often recommend setting aside a portion of your income for this purpose.
What is saving?
This is a major advantage of e-Transfers compared with mailing cash.
What is speed and convenience?
What is the term for money taken out of your account automatically to pay bills?
What is a pre-authorized payment?
Bonus fact: Many clients use these for utilities, phone bills, or subscriptions.
What is a common feature that some premium credit cards offer for travelers?
What is travel insurance?
Bonus fact: Some Scotiabank travel cards include travel-related benefits and rewards.
This registered account allows Canadians to grow investments tax-free and generally withdraw funds tax-free.
What is a TFSA?
This financial situation occurs when your monthly expenses exceed your monthly income.
What is a deficit?
This international banking service allows money to be sent to another country.
What is a wire transfer?