What’s the difference between AutoPay and a recurring transfer?
When you set up your payments through AutoPay, the payment amount is withdrawn from the bank account you designated as of your payment due date, which can be different from month to month (i.e. minimum payment or full balance amount can differ and payment due date can differ each month).
A recurring transfer withdraws only a fixed amount on a fixed date.
Related Articles
What happens if I entered the wrong information when setting up automatic payments with AutoPay?
What is AutoPay?
What if there aren’t sufficient funds in my bank account to cover AutoPay?
What happens if I close the bank account that I use to make payments through AutoPay?
What happens if I make an additional payment to my Scotiabank credit card or line of credit account when I have AutoPay set up?