Glossary of terms for the use of the ScotiaConnect platform. In this section you will find the letters from "R" to "Z".

R

REFERENCE NUMBER: numeric value assigned to a user to perform the credential recovery registration for ScotiaConnect.
REGULAR USER: A user who has been created for transaction and consultation only and does not have administrative rights.

S

SECRET WORD: Value assigned to user to perform enrollment and credential recovery for ScotiaConnect.
STATEMENT (Billing Report): A report that generally details payment terms, such as current or past, due amounts, outstanding balances, due dates, annual interest rates, and other details.
SECURITY COMPONENT: Security software that protects virtual corporate banking against fraud and cyber-attacks. The tool provides the platform for our business and corporate customers to navigate more securely.

-__ SCOTIACONNECT:__ New Virtual Business Banking.

SOFT TOKEN: Digital device used as a second authentication factor as a security element that generates one-time keys to authorize digital banking transactions. Its purpose is to strengthen monetary and non-monetary banking transactions.
SUPER ADMINISTRATOR: Banking admin users created by the Bank to operate the platform.

T

TRANSACTION LIMIT: Customization of the maximum amount of funds (maximum number of transactions) That can be granted to a user for monetary transactions. It can be parameterized Per account or per service an assigned per day.
TRANSACTION NUMBER: Unique identifier for transaction within the ScotiaConnect application.
TRANSFER BETWEEN PROPRIETARY PRODUCTS: The process of sending money from one person or bank to another, sometimes between countries.
TOKEN: A security element that generates one-time keys to authorize digital banking transactions.

U

What are the fees for ScotiaConnect?

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