General Banking

Lowest monthly balance

For the purposes of this calculator, "Lowest monthly balance" refers to the lowest amount shown in your passbook or account statement for the relevant month.

Payroll credit

Payroll credits occur when the customer arranges to have pay cheques automatically deposited into his or her account on a regular basis. Such credits sometimes give rise to free transactions. For the purposes of this calculator, government cheques, such as monthly or quarterly tax credits may be considered as "payroll credits". (See your institution's notes section for details).

Cheques

For the purposes of this calculator, if the user indicates that they write cheques on accounts that do not allow chequing, the calculator will indicate that those transactions are "Not Applicable", or "N/A"

INTERAC ^TM direct payments

Often referred to as point of sale, direct-payment, or debit card transactions, these transactions take place at a terminal located at a merchant's place of business.

Pre-authorized debit

Pre-authorized debits occur in two ways. The first type occurs when the customer allows his or her institution to withdraw an amount on a periodic basis, such as those debits related to mortgage payments, loans, or mutual fund contributions. Note that fees applicable to some of these payments are waived where periodic payments are made for a product offered by your institution or one of its affiliates.

The second type of pre-authorized debit occurs when a customer gives a third party, such as an insurance, phone, or gas company, the authorization to debit his or her account for regularly occuring payments. Typically for utility payments, a monthly statement from the third party will be sent at least 10 days prior to the debit being processed through the account. This allows the customer to check the amount and ensure sufficient funds are in the account to pay the pre-authorized debit.

Branch Banking

Withdrawals in branch

Withdrawals in branch occur when the customer takes money out of his or her account with the assistance of a teller. For the purposes of this calculator, these transactions are to be distinguished from withdrawals at automated banking machines.

Bill payments in branch

Bill payments in branch occur when the customer pays a bill (such as a phone bill or a credit card bill) with the assistance of a teller. Generally speaking, the fees applicable to withdrawals in branch apply, with an additional fee of $1.25 - 1.50 which may be paid in cash or debited from the account at the time that the bill payment is made. For the purposes of this calculator, such fees are added to the total of service charges and thus may provide a discrepancy as between the Calculator and your bank statement or passbook.

Transfers in branch

Transfers in branch occur when the customer instructs a teller to move funds from one account to another account within the same financial institution.

Account history or activity inquiries

Account history or activity inquiries at an institution's branch occur when the customer asks a teller for a printout detailing a fixed amount of transactions (usually 10 or 20) or all the transactions since the last statement. The calculator assumes that, where there is a difference in price, that you have chosen the cheaper of the two types of account history inquiries. Any price differences will be indicated in the financial institution's "notes" section in the calculator.

Automatic Bank Machine(ABM) Banking

Withdrawals at your institution's ABM

These transactions occur when the customer takes money out of his or her account from his or her institution's ABM. These withdrawals are to be distinguished from both withdrawals in branch, and withdrawals from another institution's ABM.

For the purposes of this calculator, withdrawals from a Scotiabank ABM made by National Trust account holders will be considered to be at "your institution".

Withdrawals at another institution's ABM

These transactions occur when the customer takes money out of his or her account from another institution's ABM. These transactions are to be distinguished from both withdrawals in branch, and ABM withdrawals from the customer's institution's machines, as an Interac fee of $1.00 - $1.25 will apply in addition to regular withdrawal fees.

For the purposes of this calculator, these withdrawals are to be distinguished from both withdrawals in branch, and withdrawals from your institution's ABM.

Bill payments at an institution's ABM

Bill payments at an institution's automated banking machine occur when the customer pays a bill, (such as a phone bill or a credit card bill) at his or her institution's ABM.

Transfers at an ABM

Transfers at an ABM occur when the customer moves funds from one account to another account with the same financial institution, by using the institution's ABM.

Account Balance Inquiries at an institution's ABM

Account balance inquiries at an institution's automated banking machine occur when the customer uses the balance inquiry function at his or her institution's ABM.

Account history or activity inquiries at an institution's ABM

Account history or activity inquiries at an institution's automated banking machine occur when the customer obtains a printout detailing a fixed amount of transactions (usually 10 or 20) or all the transactions since the last statement from the financial institution's bank machine. The calculator assumes that, where there is a difference in price, that you have chosen the cheaper of the two types of account history inquiries. Any price differences will be indicated in the financial institution's "notes" section in the calculator.

Telephone Banking

Bill payments made through telephone banking

Bill payments made through telephone banking refers to payments the customer makes over the telephone. Some institutions charge a bill payment handling fee and some may charge a monthly access fee in addition to regular account withdrawal fees. Some may allow the customer to pay many bills at once, charging only one account withdrawal fee.

Transfers made through telephone banking

Transfers via telephone banking occur when the customer moves funds from one account to another account with the same financial institution, by using the institution's telephone banking feature.

Account balance inquiries made through telephone banking

Account balance inquiries made through telephone banking refers to balance inquiries the customer makes over the telephone. Some institutions may charge a monthly access fee in addition to regular account inquiry fees.

Account history or activity inquiries made through telephone bankingAccount balance inquiries made through telephone banking

Account history or activity inquiries made through telephone banking refers to inquiries as to the last few (usually 10 or 20) or those made since the last statement (whichever is the cheapest) the customer makes over the telephone. Some institutions may charge a monthly access fee in addition to regular account inquiry fees.

Computer Banking

Bill payments made through PC banking features

Bill payments made through PC banking refer to payments made using either special software and/or the Internet on the customer's PC. Some institutions charge a bill payment handling fee and some may charge a monthly access fee in addition to regular account withdrawal fees. Some may allow the customer to pay many bills at once, charging only one account withdrawal fee.

Not all financial institutions offer this service. For the purposes of this calculator, if the user enters in a value in this category other than zero (0), for an institution that does not offer this feature, the result will appear as not applicable, ("N/A").

Transfers made through PC banking features

Transfers via PC banking occur when the customer moves funds from one account to another account within the same financial institution, by using a personal computer, the institution's software, and in most cases, the Internet.

Account balance inquiries through PC banking features

Account balance inquiries made through PC banking refer to balance inquiries made using either special software and/or the Internet on the customer's PC. Some institutions may charge a monthly access fee in addition to a balance inquiry fee. Not all financial institutions offer this service. For the purposes of this calculator, if the user enters in a value in this category other than zero (0), for an institution that does not offer this feature, the result will appear as not applicable, ("N/A").

Account history inquiries made through PC banking features

Account history inquiries made through PC banking refer to inquiries about the last few (usually 10 or 20) transactions or those made since the last statement, (whichever is the cheapest) made using either special software and/or the Internet on the customer's PC. Some institutions may charge a monthly access fee in addition to a balance inquiry fee. Not all financial institutions offer this service. For the purposes of this calculator, if the user enters in a value in this category other than zero (0), for an institution that does not offer this feature, the result will appear as not applicable, ("N/A").