What happens to the Scotiabank StartRight Preferred Package after the first year?
Scotiabank currently waives the Preferred Package monthly account fee for eligible StartRight clients for the first 12 months. After that, the normal Preferred Package monthly fee begins unless the account meets a fee-waiver condition.
Short answer
Scotiabank currently waives the Preferred Package monthly account fee for eligible StartRight clients for the first 12 months. After that, the normal Preferred Package monthly fee begins unless the account meets a fee-waiver condition.
After the first year, Scotiabank currently charges $16.95 unless you maintain the published $4,000 daily closing balance.
Current numbers to know
- StartRight fee waiver: 12 months.
- Standard monthly fee afterward: $16.95.
- Published simple balance waiver: $4,000 every day for the entire month.
What this can cost over time
If the account is kept unchanged after the newcomer waiver, its current modeled recurring fee is based on a 12-month newcomer fee waiver followed by a standard monthly fee of $16.95. Use the bank-specific calculator to model one through five years rather than focusing only on the introductory period.
Scotiabank newcomer account fee calculator →
Why this matters for newcomers
Introductory banking terms are temporary. A useful comparison separates the newcomer waiver from the normal account structure that follows it. The same principle applies to credit: having no Canadian credit file does not automatically mean you need to pay an annual fee, lock up a security deposit or accept the first product offered.
Official source
Scotiabank StartRight newcomer offer →
Related CanadaStarter tools
Newcomer Bank Fee Calculator →
Credit Utilization Calculator →
Credit Cards With No Canadian Credit History →
2026 Newcomer Banking Cost Study →
Terms checked September 12, 2026. Provider pricing and eligibility can change; verify the official source before applying or changing accounts.