Bahamas Rates & Fees

The following transactions are allowed free of charge on all Scotiabank accounts:

  • Unlimited Internet & Telephone Banking transactions
  • Unlimited electronic transfers between Scotiabank accounts

Credit Cards

Our cards offer a variety of benefits, rewards, and interest rates.

Credit Card Rates & Fees

Borrowing

Whether you're looking to renovate you home or make a large purchase, our borrowing options have you covered.

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Mortgages

Our mortgages help you find the home that's the right fit for you.

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Consolidated Rates and Fees Schedule

Effective December 1, 2020

Find out more about our rates and charges for Scotiabank accounts.

Retail

Services  New  Rates  New Rates Including VAT
Monthly Maintenance (Junior Account Free) $4.75 - $$7.50 $5.32 - $8.40
Branch Deposit/Withdrawal $3.00 - $3.50  $3.36 - $3.92
ATM Deposit $1.00 - $1.25 $1.12 - $1.40
ATM Withdrawal $1.00 $1.12
Stamp Tax $0.40 $0.40
Transaction in Branch Without Debit Card  $3.00 $3.36
Services  New  Rates  New Rates Including VAT
Monthly Fee $2.50 -$15.00 $2.80 - $16.80
Drawing/Cashing Fee (per cheque) $2.50 - $3.50 $2.80 - $3.92
Branch Deposit/Withdrawal $2.50 - $3.50 $2.80 - $3.92
ATM Deposit  FREE FREE
ATM Withdrawal  (Proprietary) FREE FREE
Drawing/Cashing Fee (per cheque) $2.50 - $3.50 $2.80 - $3.92
Dishonored Cheque Charge $35.00 $39.20
Internal Transfers to cover cheques $17.50 $19.60
Stop Payment Order $20.00 $22.40
Over Limit or Overdraft Protection Fee $25.00 $28.00
Minimum Overdraft Interest Charge - Calculated on maximum daily balance $15.00 $16.80
Overdraft Handling Fee $7.50 $8.40
Cheque Certification $12.50 $14.00
Stamp Tax $0.40 $0.40
Audit Confirmation $30.00 $33.60
Services  New  Rates  New Rates Including VAT
Accounts closed within 90 days $17.50 $19.50
Replace Debit Card $5.00 $5.60
Audit Certificates/Reference Letter (Retail) $30.00 $33.60
Interim Statements Requested $7.50 $8.40
Transfer Fee (special request) $17.50 $19.60
Standing Order Payments
(a) Internal Payments $7.50 $8.40
(b) External Payments or Transfers $20.00 $20.00 + 12% VAT + cost of Draft + 12% VAT + GST
Wire Transfers (Outgoing)
From BSD to Foreign Currency $35 Fee + $10.00 Handling Charges + Conversion + GST $39.20 + $11.20 + Conversion + GST
From Foreign Currency to Foreign Currency $50.00 Fee + Handling Charges $56.00 + Handling Charges
Foreign Currency cash (per $1,000.00) $75.00 Fee + Handling Charges $84.00 + Handling Charges
Stamp Duty of Foreign Exchange 1.5% 1.5%
Wire Transfers (Incoming)
Family Islands $15.00 $16.80
Local  $10.00 $11.20
Manager's Cheque/Drafts
Local Currency $7.50 $8.40
Foreign currency $12.50 $14.00
Traveler's Cheques
Stamp Tax $0.40  
Inactive Account Fees
Notice of inactivity at 2 and 5 years $35.00 $39.20
Notice regarding unclaimed balances $35.00 $39.20
Safety Deposit Box
Annual Rate - Resident
A- 1 1/2 x 5 x 24   $60.00 $67.20
B- 2 1/2 x 5 x 24 $85.00 $95.20
C- 5 1/2 x 5 x 24 $175.00 $196.00
D- 2 1/2 x 10d x 24 $175.00 $196.00
E - 5 x 10d x 24 $250.00 $280.00
F - 10 x 10d x 24 $325.00 $364.00
G-10 x 15 1/2 $400.00 $448.00
Annual Rate - Non-Resident
A- 1 1/2 x 5 x 24   $125.00 $140.00
B- 2 1/2 x 5 x 24 $160.00 $179.20
C- 5 1/2 x 5 x 24 $325.00 $364.00
D- 2 1/2 x 10d x 24 $325.00 $364.00
E - 5 x 10d x 24 $475.00 $532.00
F - 10 x 10d x 24 $625.00 $700.00
Drilling of Safety Deposit Box $175.00 $196.00
Replacing Lock $125.00 $140.00
Lost Key $17.50 $19.60
Safe Keeping
Safekeeping - Mtg./Other Documents (per annum) $55.00 $61.60
Services  New  Rates  New Rates Including VAT
Withdrawals outside The Bahamas Currency Exchange fees and other bank or  facility fees may apply. $3.00 $3.36
Local Withdrawals    
Customer $1.00 $1.12
Non-Customer $3.00 $3.36
Mini Statements $0.50 $0.56
Monthly Access FREE -
Personal Banking FREE -

Personal Loans

Services  New  Rates  New Rates Including VAT
 Application Fee > of $125.00 or 1% of loan > of $125.00 or 1% of loan + 12%
Government Stamp Fees 1.0% 1.0%
Registration Fees (Fee does not attract VAT) $13.50 $13.50
Legal Fees $10.00 $11.20
Late Payment Fee $35.00 $39.20
Authority to hold funds $3.00 $3.36
Other Consumer Loans
Application Fee > of $125.00 or 1% of loan > of $125.00 or 1% of loan + 12%
Government Stamp Fees 1.0% 1.0%
Late Payment Fee $35.00 $39.20
Loan Refinancing Fee > of $150.00 or 1% of loan > of $150.00 or 1% of loan + 12%
Application Fee $85.00 $95.20
Commitment Fees 2.0% 2% + 12% VAT on the amount charged
Government Stamp Fees 1.0% 1.0%
Early Repayment Charges 3 months int. 3% months Int. 
Late Payment Fee 1% of Payment; Minimum $35 1% of Payment; Minimum $35 + 12% VAT
Mortgage Satisfaction $100.00 $112.00
Payment of Insurance premium $25.00 $28.00
Real Estate
Application Fee $85.00 $95.20
Commitment Fees 2.0% 2% + 12% VAT on the amount charged
Government Stamp Fees 1.0% 1.0%
Late Payment Fee 1% of Payment; Minimum $35 1% of Payment; Minimum $35 + 12% VAT
Mortgage Satisfaction $100.00 $112.00

Corporate & Commercial and Small Business Banking

Monthly Fee $16.50 - $18.00 $18.48 - $20.16
Credit Line for Business Monthly Fee $30.00 $33.60
Branch/Cheque Per Entry Fee $0.60 - $0.75 $0.67 - $0.84
Dishonored Cheque Charge $35.00 $39.20
Stop Payment Order $20.00 $22.40
Cheque Certification $12.50 $14.00
Over Limit Fee/Overdraft Protection $25.00 $28.00
Stamp Tax $0.40 $0.40
Audit Confirmation $40.00 $44.80
Monthly Fee $3.50 -$17.50 $3.92 -$19.60
Branch/Cheque Per Entry Fee $0.50 - $0.60 $0.56 - $0.67
*If applicable refer to ATM section above for fees
Deposit Fees (Business Accounts)    
Night Bag Deposits (per $1,000.00 or part thereof) $1.00 $1.12
In Branch Deposits (per $1,000.00 or part thereof) $1.00 $1.12
Day & Night Deposits    
Annual Fee $30.00 $33.60
Opened disposable bags $50.00 $56.00
Lost/Broken Key $35.00 $39.20
Accounts closed within 90 days $17.50 $19.60
Overdraft fee (monthly) $7.50 $8.40
Penalty interest rate (%) 18% 18%
Commitment fees 2% 2% + 12%
Over Limit fees (per item) $7.50 $8.40
Renewal Fee (minimum) 1% 1% +12%
Transfer Fee (special request) $17.50 $19.60
Letters of Credit 0.35% for 30 days, and 0.35% for each additional  30 days  0.35% + 12% VAT on the amount charged
Bank/Credit References $40.00 $44.80
Auditor's Confirmation Letter $40.00 $44.80
Business Accounts    
Bronze - Up to 3 accounts / Min Monthly fee $20.00 $22.40
Silver - Up to 5 accounts / Min Monthly fee $40.00 $44.80
Gold -  6 - 10 accounts / Min Monthly fee $135.00 $151.20
Platinum -  Over 10 accounts $235.00 $263.20
Up to 15 items ( Extra items $1.00 ) $25.00 $28.00
Up to 50 items ( Extra items $0.75 ) $45.00 $50.40
Up to 150 items ( Extra items $0.50 ) $80.00 $89.60
Up to 400 items (Extra items $0.25 ) $165.00 $184.80
Up to 10 deposits ( Additional deposit $2.00 ) $12.50 $14.00
Up to 25 deposits (Additional deposit $2.00 ) $30.00 $33.60
Up to 50 deposits ( Additional deposit $2.00 ) $55.00 $61.60
Up to 100 deposits (Additional deposit $2.00) $110.00 $123.20
Vouchers (per hour) $35.00 $39.20
Records (per hour) $35.00 $39.20
Accounts (each) $35.00 $39.20
Bank to Bank Transfers $10.00 $11.20 
Wire Transfers (Outgoing)    
From BSD to Foreign Currency $35 Fee + $10.00 Handling Charges + Conversion + GST $39.20 + $11.20 + Conversion + GST
From Foreign Currency to Foreign Currency $50.00 Fee + Handling Charges $56.00 + Handling Charges
Foreign Currency cash (per $1,000.00) $75.00 Fee + Handling Charges $84.00 + Handling Charges
Stamp Duty of Foreign Exchange 1.5% 1.5%
Wire Transfers (Incoming)
Family Islands $15.00 $16.80
Local  $10.00 $11.20
Outgoing Wire Transfer (Swift/Telex)
Branch  USD$65.00 USD$72.80
Online   USD$45.00 USD$50.40
Drafts
Local Currency $7.50 $8.40
Foreign currency $12.50 $14.00
Traveler's Cheques
Stamp Tax $0.40 $0.40
Payments in Cash/At Counter:    
Each Name (internal) $2.50 $2.80
Minimum Charge per Payroll $45.00 $50.40
Payroll, Disbursements and Collection    
Up to 15 employees ( Extra Items $1.25) $25.00 $28.00
Up to 50 employees ( Extra Items $1.00) $45.00 $50.40
Up to 150 employees ( Extra Items $0.75) $80.00 $89.60
Up to 400 employees ( Extra Items $0.35) $165.00 $184.80
Services  New  Rates  New Rates Including VAT
Commitment Fees 0.5% - 2.0% 0.5% - 2.0% + 12% VAT on the amount charged
Government Stamp Fees 1.0% 1.0%
Legal Fees Vary based on loan amount Cost  + 12% VAT on the amount charged
Registration Fees (Fee does not attract VAT) $13.50 $13.50
Early Repayment Charges Negotiable Negotiable + 12% VAT on the amount charged
Late Payment Fees 3% Min $250.00 3% + 12% VAT on the amount charged/min. $280.00
Loan Refinancing Fees Negotiable Negotiable + 12% VAT on the amount charged
Annual Review Fees Negotiable Negotiable + 12% VAT on the amount charged
Term Extension Fees Negotiable Negotiable + 12% VAT on the amount charged
Amendment Fees Negotiable Negotiable + 12% VAT on the amount charged
Drawdown Fees Negotiable Negotiable + 12% VAT on the amount charged
Other Fees Negotiable Negotiable + 12% VAT on the amount charged
Stamp Duty for Other Loan Agreements   $10.00