TORONTO, May 23, 2013 /CNW/ - Found money is often thought of as those
discoveries between the couch cushions, the car seats or a lucky find
on the street. According to a Scotiabank poll, most Canadians said if
they received $150, they would either save it for something specific
(50%) or use it to pay down debt (31%). If they received a smaller
windfall like $20, they are more likely to spend it (41%).
Scotiabank Cash Back programs provide the ultimate in found money with
an average cash back amount of $150 (Scotia® Moneyback™ Debit card) or $300 (Scotia Momentum VISA Infinite* card) per year - with the potential to earn more by making routine
purchases using a debit card or credit card.
The poll also revealed that 4-in-10 Canadians (41%) receiving $20 would
spend it right away; however, if the amount increased to $150, half
said (50%) they would save it for something specific, and 31% said they
would use it to pay down debt.
Specific to cash back rewards, if the amount increased to $500, 46% of
Canadians surveyed say they would save it, and 43% would use it to pay
down debt, while only 8% of Canadians would spend it right away.
The Scotia Moneyback bank account helps account holders earn on average $150 per year.
Cash back rewards are paid annually and deposited into the Scotia Moneyback account.
For more information about the Scotia Moneyback Debit card click here.
The Scotia Momentum VISA Infinite card helps card holders earn on average $300 per year.
Cash back rewards on all Scotia Momentum VISA products are paid annually as a credit towards their next
statement. Scotiabank bank account holders can opt to have their cash
back rewards redirected to their bank account to use as they wish.
For more information about the Scotia Momentum VISA Infinite card click here.
"For more than half of Canadians, finding $20 or less is exciting enough
to tell someone about - and we are seeing Scotia Moneyback account holders finding on average $150 annually through our one of a
kind cash back debit program - Canada's only way to earn cash back
using a debit card and you can 'find' even more by using a Scotia Momentum VISA card too. Anyone can take the luck out of finding money by
choosing banking products that reward you with cash back for everyday
Mike Henry, Senior Vice President, Retail Deposits and Payments at
About the polling data
Using Harris/Decima's proprietary panel of Canadians, a total of 1,005
completed surveys were collected from a random sample of panel members
across Canada. The study was conducted from March 5-12, 2013. To
qualify, respondents must have, ever, found money such as loose change
Scotiabank is a leading multinational financial services provider and
Canada's most international bank. With more than 82,000 employees,
Scotiabank and its affiliates serve some 19 million customers in more
than 55 countries around the world. Scotiabank offers a broad range of
products and services including personal, commercial, corporate and
investment banking. In December 2012, Scotiabank became the first
Canadian bank to be named Global Bank of the Year and Bank of the Year
in the Americas by The Banker magazine, a Financial Times publication. With assets of $736 billion (as at January 31, 2013),
Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS).
For more information please visit www.scotiabank.com.
Image with caption: "What would you do if you found $150? Scotiabank conducted a poll asking Canadians where they find money unexpectedly and what they would do with the extra cash. (CNW Group/Scotiabank)". Image available at: http://photos.newswire.ca/images/download/20130523_C9551_PHOTO_EN_27003.jpg
For further information:
For media inquiries please contact:
Shelley Thomas, Narrative PR