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Scotiabank Launches New No Fee Visa Credit Card for Canadian Business Owners with 1% Cash Back on Every Purchase

News Provided by PR Newswire2026-08-24

Scotiabank Launches New No Fee Visa Credit Card for Canadian Business Owners with 1% Cash Back on Every Purchase

[24-August-2026]

TORONTO, Aug. 24, 2026 /CNW/ -- Scotiabank today announced the launch of the new Scotia Momentum^®for business No Fee Visa* Card, underscoring its commitment to Canadian businesses. Built to simplify everyday spending, the no fee credit card offers greater flexibility with cash back on every eligible purchase, and additional fuel savings at Shell¹, helping small and mid-sized businesses get more value from their spending.

As the latest addition to Scotiabank's Business Banking offering, this new Visa credit card reflects the Bank's efforts to deliver a more seamless banking experience for business owners by providing practical solutions that help them access credit, manage expenses, maximize rewards, and grow their businesses.

"Small businesses are integral to Canada's economy, and they need banking solutions that work as hard as they do," said Pouya Zangeneh, Senior Vice President, Business Banking, Scotiabank. "We're dedicated to helping businesses operate with confidence, optimize cash flow, and invest in their growth for a stronger future. This launch reflects our continued focus on listening to our clients and delivering the support they need to succeed at every stage of their journey."

How can the Scotia Momentum^® for business No Fee Visa* Card benefit Canadian businesses?

Get up to 6¢/L in value on fuel purchases at Shell
No annual fee for primary and supplementary cards²
Earn 1% cash back³ on all eligible purchases with no limit
Cash back redemption anytime, with a minimum $25 value, giving business owners flexibility to help manage expenses and cash flow
Download transactions to preferred accounting software with ScotiaOnline and track expenses and gain greater spending insights with Visa Spend Clarity⁴
Access offers and discounts through Visa SavingsEdge⁵
Includes mobile device insurance alongside purchase protection and extended warranty insurance coverage on eligible purchases⁶

Scotiabank supports Canadian businesses to start, build, and grow through a connected suite of banking solutions and beyond-banking support, including specialized advice, financing, digital tools, tailored programs, and trusted partnerships.

The Scotia Momentum^® for business No Fee Visa* Card expands Scotiabank's Business Banking credit card lineup and delivers features tailored to the needs of small businesses. To learn more or apply, visit https://www.scotiabank.com/ca/en/business-banking/banking-solutions/credit-cards/scotia-momentum-for-business-no-fee-visa-card.html.*

About Scotiabank

Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success 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 assets of approximately $1.5 trillion (as at April 30, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on X @Scotiabank.

Legal Terms

¹ Cardholders with a Scene+ membership who link their Scotia Momentum® for business No Fee Visa* Card and their Scene+ account to a Shell Go+ Account can get up to 6 cents per litre in instant fuel discounts, Cash Back, and Scene+ Points Value when they purchase eligible fuel with their linked credit card. For more details, visit https://www.scotiabank.com/ca/en/personal/programs-services/shell.html

² All rates, fees and interest rates are subject to change. For more information, please visit scotiabank.com/momentumbusinessnofee

³ Earn 1% cash back on all eligible purchases (the "Regular Cash Back Program Rate") as described in the Scotia Momentum No fee Visa* Cash Back Program Terms and Conditions

⁴ The Visa Spend Clarity for Business service is provided by Visa Canada. The Bank of Nova Scotia and its affiliates are not responsible for the Visa Spend Clarity for Business service.

⁵ Visa SavingsEdge is an automated discount program offered by Visa Canada Corporation ('Visa Canada') to eligible businesses and their authorized cardholders that hold an eligible Visa Business card and whose enrolment in the program is accepted by Visa. Under the program, cardholders can receive discounts from participating merchants each time the cardholder uses an enrolled Visa Business card to make qualifying purchases of goods or services pursuant to an active discount offered by the merchant and that transaction is processed or submitted through the Visa payment system. Discounts provided will appear as credits on future credit card statements 8-10 weeks after purchase date. Visa Canada, not Scotiabank, is responsible for the Program. For details, visit www.visasavingsedge.ca.

⁶ Under all insurance coverages or services, certain limitations, restrictions and exclusions apply. Please see the Certificates of Insurance for full coverage details. Coverages are underwritten by First North American Insurance Company (FNAIC), a wholly owned subsidiary of The Manufacturers Life Insurance Company (Manulife). The Bank of Nova Scotia is not an insurer. If there is a conflict between the above descriptions and the Certificates of Insurance, the certificate shall prevail. Insurance inquiries or claims must be forwarded to the insurance provider.

^® Registered trademark of The Bank of Nova Scotia

* Visa Int./ Licensed user.

^TM^* Scene+ and the Icon Design are trademarks of Scene Plus IP Corporation, used under license.

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