Bahamas 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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Credit Cards

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

Credit Card Rates & Fees

Foreign Exchange Rates

Need to buy, sell, or transfer foreign currency? We're here to assist you.

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

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

Consolidated Rates and Fees Schedule

Effective December 1, 2020

Upcoming Fee Changes - effective November 1, 2021

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

Retail

Services	Rates	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	Rates	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	$22.40
Wire Transfers (Outgoing)
From BSD to Foreign Currency	$35.00 Fee + $10.00 Handling Charges	$39.20 Fee + $11.20 + Handling Charges
From Foreign Currency to Foreign Currency	$50.00 Fee + $20.00 Handling Charges	$56.00 Fee + 22.40 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
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

Personal Loans

Services	Rates	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%
One time Pre-Approved/Pre-Qualified Processing Fee - in lieu of Application Fee	-	2.5% of the loan amount (Includes VAT and Government Stamp Fees)
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

Wire Transfers (Outgoing)
From BSD to Foreign Currency	$35.00 Fee + $10.00 Handling Charges	$39.20 Fee + $11.20 Handling Charges
From Foreign Currency to Foreign Currency	$50.00 Fee + $20.00 Handling Charges	$56.00 Fee + 22.40 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

Payments in Cash/At Counter:
Each Name (internal)	$2.50	$2.80
Minimum Charge per Payroll	$45.00	$50.40
Payroll, Disbursements and Collection
Bronze - Up to 15 employees ( Extra Items $1.25)	$25.00	$28.00
Silver - Up to 50 employees ( Extra Items $1.00)	$45.00	$50.40
Gold - Up to 150 employees ( Extra Items $0.75)	$80.00	$89.60
Platinum - Up to 400 employees ( Extra Items $0.35)	$165.00	$184.80

Services	Rates	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

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*

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
Minimum Monthly Fee
Bronze - Up to 3 accounts	$20.00	$22.40
Silver - Up to 5 accounts	$40.00	$44.80
Gold - 6 - 10 accounts	$135.00	$151.20
Platinum - Over 10 accounts	$235.00	$263.20

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

Bronze - Up to 10 deposits ( Additional deposit $2.00 )	$12.50	$14.00
Silver - Up to 25 deposits (Additional deposit $2.00 )	$30.00	$33.60
Gold - Up to 50 deposits ( Additional deposit $2.00 )	$55.00	$61.60
Platinum - Up to 100 deposits (Additional deposit $2.00)	$110.00	$123.20

Bahamas Rates & Fees

Borrowing

Mortgages

Credit Cards

Foreign Exchange Rates

Consolidated Rates and Fees Schedule

Retail

Saving Accounts

Transactional Accounts (some including Cheque Writing Privileges)

Services Related to Deposit Accounts

Automated Teller Machine (ATM)

Online / Internet Banking

Personal Loans

Private Vehicles

Residential Mortgages

Corporate & Commercial and Small Business Banking

Cheque Services: Business Accounts

Savings Account for Business

Other Fees Chequing and Savings Accounts:

Commercial Overdrafts

Other Commercial Banking Facilities and Services

Online / Internet Banking

Cheque Reconciliation

Consolidated Cash Plan

Document Search / Retrieval

Real Time Gross Settlement

Wire Transfers

Payroll Payments

Commercial Loans