Scotiabank Leading Industry by Expanding Rewards Offerings

Scotiabank is launching a new Travel Rewards Debit Card, offering customers more reward options than any other bank

TORONTO, Sept. 21, 2017 /CNW/ - This week, Scotiabank unveiled the brand-new Scotiabank Passport Debit Card, allowing Canadians to now use debit to earn travel rewards. As the only Canadian financial institution to offer entertainment, cash back and now travel rewards on debit, the new Scotiabank Passport Debit Card is another way Scotiabank provides value to its customers.

Scotiabank Passport ScotiaCard (CNW Group/Scotiabank)

Eighty per cent of consumers want to be rewarded for their business (Financial Consumer Survey 2015) and debit rewards are unique in the Canadian market. With the new Scotiabank Passport Debit Card, Canadians can maximize the rewards they earn on everyday purchases, providing customers with more choice in how they earn and redeem their rewards. In fact, in a recent study of loyalty programs by Bond Brand Loyalty, Scotiabank was ranked first by customers on all rewards metrics, including 'Program Satisfaction' and 'Likelihood to Recommend' (The Loyalty Report 2017, Bond Brand Loyalty).

"We know that Canadians are increasingly looking to be rewarded for their business in a meaningful way," said Mike Henry, Executive Vice President, Retail Payments, Deposits and Unsecured Lending, Scotiabank. "Our new Passport Debit Card strengthens our travel rewards offering to one of the best in the industry. By offering a variety of reward options on both debit and credit cards, and with new cards added to our portfolio, we are providing customers more flexibility in the way they earn and more choice in how they can redeem their rewards."

For Scotiabank the keyword is 'choice': choice in rewards and choice in how customers want to be rewarded. The products launching or re-launching this fall include:

• Scotiabank Passport Debit Card – Use debit to earn travel rewards on your everyday debit purchases. Every purchase leads to greater travel experiences with 1 Scotia Rewards point for every $5 spent. Now available with a bonus introductory offer of up to 10,000 points.
  
  
• Scotiabank® GM®* Visa* Business Card – Business owners can now separate their business and personal expenses while earning GM Earnings towards the purchase price or lease of a new Chevrolet, Buick, GMC or Cadillac. Business owners will earn 5 per cent in GM Earnings on the first $10,000 spent annually on their card, and 2 per cent on everyday purchases thereafter, with no earning or redemption caps. Available October 2017.
  
  
• Scotia Momentum® Mastercard®* Card – This Mastercard credit card cements Scotiabank's position as the first financial institution in Canada to offer customers the choice of rewards cards from all three credit card providers: American Express, Visa and Mastercard. The Scotia Momentum® Mastercard®* Card earns 1 per cent cash back on gas, grocery, drug store purchases and recurring payments plus 0.5 per cent on everyday purchases thereafter, with no annual fee and no limit on cash back. Coming soon.
  
  
• Scotiabank has updated its credit travel offering with another no annual fee card option: Scotiabank®* American Express® Card – This card was recently relaunched as a no annual fee travel credit card that enables customers to earn Scotia Rewards on every dollar spent on everyday purchases. Paired with the comprehensive travel insurances available on the card, the Scotiabank American Express Card is a valuable credit card offering for consumers in the no-annual fee travel market space.

The Scotiabank Passport Debit Card and the Scotiabank®* American Express® Card are available now. The Scotiabank GM®* Visa* Business Card and the Scotia Momentum® Mastercard®* Card will be available online and at Scotiabank branch locations.  

About Scotiabank
Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of over $906 billion (as at July 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank

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