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Online Banking: Everything you need to know

If you are new to Canada, or in the process of immigrating, it is important to know about online and mobile banking. This article will help answer some of the questions you may have about using digital financial services, as well as helpful tips on how to protect yourself online. It’s good to know where your local bank branch is, but to save time you can do a lot of simple daily transactions online.

Save time with these digital banking services:

Check your balance, account history and credit score

When you sign into your Scotia OnLine account or mobile banking app you can quickly access your account details or search and browse your transaction history from the comfort of your new home in Canada. You will also be notified instantly about new products and offers such as credit limit increases.

Another great feature is the ability to instantly check your credit score for free using the online service called CreditView. Simply sign on to your account through Scotia OnLine or the mobile banking app to get started. Checking your credit score is really useful for things like signing a lease on a new apartment, buying a home, getting approved for a business loan and more. Click here to read our previous article on everything you need to know about credit.

Send money to friends and family anywhere in the world

Western Union Money Transfers let you send money to loved ones anywhere in the world. Send money through Scotia OnLine, Mobile Banking or at any Scotiabank branch.

Pay bills online and go paperless

When you have settled and have had time to set up utilities, a credit card and a phone account, these companies will send you a monthly paper invoice in the mail. A great way to limit paperwork and save time is to pay these bills online. You can pay your bills using your computer, tablet, smartphone or by phone. You can easily take care of bills such as credit cards, internet, hydro, cell phone and property taxes online. This video offers a step-by-step guide to paying bills online.

Pre-authorized payments

Forgetting to pay your bills can be stressful and will cost you money in late fees. Once set up, pre-authorized payments will automatically pay your bills on time without you even thinking about it. You can take care of bills including cable, internet, property tax, gym memberships and more.

Transfer money between accounts

In Canada, people often have more than one account, for example, a chequing account for monthly expenses and a savings account for long-term goals. Sometimes you might need to transfer money between your accounts – and this can also be done through Scotia OnLine, Scotiabank’s online banking website. Limiting the number of trips to the bank can help save time for other important tasks such as language classes or job training.

Automate your savings

Thinking of buying a house or going back to school in Canada? Putting aside money every month is one of the most effective ways to save for these long-term goals. To make it easier, Scotiabank has an Automatic Savings Plan that allows you to have a pre-determined amount transferred automatically to your savings account at set intervals (every week, every two weeks or every month).

Online banking can make your life easier in so many ways, but it is very important to ensure you keep your finances secure. At Scotiabank, online privacy and security are our top priority. Here are five ways to help keep your finances safe and secure online:

  • Choose secure passwords and don’t reuse passwords on multiple sites.
  • Never send any confidential information, including credit card or banking information, via email.
  • If you see unusual activity on your account, contact your bank right away.
  • Do not respond to unsolicited emails that request personal information such as your banking card number, online passwords, credit card number, etc.
  • Do not use public computers, such as in libraries or job centres, to access Scotia OnLine.

Want to get the convenience of banking on your phone or online? Learn how to register for an online account here!