Scotiabank mortgage
Pay your Scotiabank mortgage with Chexy.
Pay your Scotiabank mortgage through Chexy from the chequing account you already use, and earn 1 Aeroplan point per $1 on eligible payments.* Switching takes one call.
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How to
How to pay your Scotiabank mortgage with Chexy
1
Sign up for Chexy
Create your account, verify your identity and add the chequing account you pay your mortgage from today, plus your Aeroplan number.
2
Set up your mortgage
Pick Scotiabank as your lender and confirm your mortgage details. Chexy gives you its account details and a void cheque for Scotiabank.
3
Call Scotiabank
Give your Chexy institution, transit and account numbers. You’ll hear a short pre-authorized debit recording, then give your verbal consent.
4
Chexy pays Scotiabank
On your usual payment date, Chexy debits your chequing account and pays Scotiabank as usual. Points arrive after every payment.*
What you can pay
How it works with your mortgage
Your Scotiabank mortgage
Your Scotiabank mortgage stays exactly as it is. Chexy only changes which account your payment comes from.
- Your regular mortgage payment. The same amount, on your usual payment date.
- Paid by pre-authorized debit. Scotiabank keeps withdrawing your payment automatically. It just comes from your Chexy account.
- No changes to your mortgage. Same lender, same rate, same term. Nothing to refinance, nothing to re-apply for.
1.75% per payment, added to your withdrawal. On a $2,500 mortgage payment, that’s $43.75.
Timing
When Scotiabank gets paid
- At least two weeks before your next payment
- Give your lender your Chexy account details, so the change is in place in time.
- During your call
- The whole change usually takes about 8 minutes, with no branch visit or paperwork after.
- Your usual payment date
- Chexy withdraws your payment plus the fee from your chequing account, never in advance, and pays Scotiabank on schedule.
Paying your Scotiabank mortgage with Chexy: questions
Can I pay my Scotiabank mortgage through Chexy?
Yes. Chexy pays Scotiabank from the chequing account you already use, on your usual payment date, and you earn 1 Aeroplan point per $1 on eligible payments.*
Do I need to visit a Scotiabank branch?
Usually not. Scotiabank changes your mortgage payment account over the phone in about 8 minutes.
Why does Scotiabank play a recording?
It’s the pre-authorized debit authorization. After it plays, you give verbal consent and the change is submitted.
Do I pay with my credit card?
No. Mortgage payments through Chexy come from your chequing account, the same account you pay from today. You earn Aeroplan points directly through Chexy, no credit card required.
What does it cost?
There’s a 1.75% fee per payment, added to your withdrawal. On a $2,500 mortgage payment, that’s $43.75. You also earn 2,500 Aeroplan points on that payment.*
Does this change anything about my mortgage?
No. Your rate, term, amortization and payment schedule all stay exactly the same.
The fine print
- *Conditions apply. 1 Aeroplan point per $1 on eligible mortgage payments made through Chexy.
- Scotiabank plays a short pre-authorized debit (PAD) authorization recording before it makes the change, then asks for your verbal consent.
- Ask the representative to read your new account details back before you hang up. If something’s wrong later, call Scotiabank before your next payment.
- Keep your old account funded until you see a mortgage payment come out through Chexy. Until the change takes effect, your lender still draws from the old account.
- Chexy is not a mortgage lender, mortgage broker or party to your mortgage.
Sources: Chexy Insider: How to pay your Scotiabank mortgage with Chexy · How to switch your mortgage payments to Chexy · Chexy mortgage payments · How much does Chexy cost?. Scotiabank is not affiliated with Chexy.
Also: Pay your TD mortgage with Chexy · Pay your RBC mortgage with Chexy · Pay your CIBC mortgage with Chexy · Pay your BMO mortgage with Chexy · Pay your First National mortgage with Chexy · Pay your National Bank mortgage with Chexy · Pay your Equitable Bank mortgage with Chexy · Pay your MCAP mortgage with Chexy · All payees
Earn Aeroplan points on your Scotiabank mortgage.
1.75% per payment, added to your withdrawal