There’s no minimum balance required to open a bank account. But some of our chequing accounts require you to have a balance of $3,000 to $6,000 to avoid paying the monthly account fee. For newcomers eligible for the StartRight^TM Program, there is no monthly account fee for a year on an eligible chequing account with no minimum balance required.

The Scotiabank International Account for newcomers has a maximum balance of $50,000 CAD.