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Reach your financial goals with a Small Business Advisor

Tens of thousands of CFIB members enjoy exclusive discounts on small business, commercial, and personal banking—and you can join them today.

As a CFIB member, you will receive a dedicated Small Business Advisor who will help you reach your financial goals. Your advisor will help you map out strategies to improve your cash flow, reduce your expenses, and grow your business.

Choose Scotiabank®, and you can take advantage of the following offers that are exclusive to CFIB members:

Maximize your savings with Scotiabank and Chase

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CFIB members can get even more savings for their business when they combine the benefits from two of our trusted partners, Scotiabank and Chase® Payment Solutions:

  • Save $498/year on waived deposit fees
  • Save $72/year when the minimum monthly fee is waived on the Right Size Account for business

This partnership is a perfect way to maximize the value of your CFIB membership!

Business Banking: Discounts and savings to reduce your monthly fees Show more Show less

Scotiabank - Business banking discounts and savings for small business

CFIB members can receive discounts and savings on select banking products and services based on their unique banking needs. 

Business Operating Accounts

  • Minimum monthly fee waived on the Right Size Account for business1
  • Monthly maintenance fee waived on the Basic Business Account (CDN & USD)
  • 20% off the monthly fee on the Select Account for business4  (Both Small Business and Commercial)
  • 20% off a Scotia One Account Plan for agriculture3
  • A free ChequeEssentials Kit when opening a new business operating account (a $125 value)

Credit Lines & Term Loans

  • Reduced setup fees for all business term loans and credit lines5
  • 0.25% interest rate discount up to Prime on select variable rate term loans5, including Term Loan for business, Term Loan for business under the CSBFA program, or a Term Loan for agriculture5

Commercial Credit Card

  • Annual fee waived for the first year for up to two cards on the Scotiabank Visa Business Card10 (for commercial clients)

Cash Management

  • 20% discount off the monthly fee7 for standard ScotiaConnect plans (Basic, Standard, Premium, Ultimate) 8, available to both Small Business & Commercial, including:
    1. Unlimited report generation
    2. Access to 24 months of online transaction history

Agricultural Switch Incentive Program

  • Take advantage of the Agricultural Switch Incentive Program to reimburse legal/appraisal costs of up to 0.5% of new funds or global limit to a maximum of $5,000 on the following products:
    • Scotia Farm Mortgage Loan
    • Scotia Farm Legacy Mortgage
    • Scotia Flex® for Agriculture

Personal banking: Save on bank accounts, mortgages and more

Owners of CFIB member businesses, as well as their employees, can take advantage of the following offers:

  • New customers get the first 12 months free on the following accounts: Ultimate Package, Basic Plus Bank Account, Preferred Package1

Footnotes Show more Show less

1 The monthly account fee is waived for active CFIB members in good standing on one (1) Right Size Account for Business (“Account”). The monthly account fee will be waived and will not appear as a charge on your Account provided the Account is open and in good standing at the time of the waiver. All other applicable service charges on the Account will continue to be applied. The monthly account fee will begin to apply if you are no longer a CFIB member in good standing. Maximum one (1) offer per customer regardless of the number of Accounts opened. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice. Please refer to Scotiabank’s “Your Guide to Schedule of Fees” for full descriptions of Account fees and what is included in Account plan..
2 The monthly account maintenance fee is waived for active CFIB members in good standing on one (1) Basic Business Account CAD and/or (1) Basic Business Account (USD) (“Account”). The monthly account maintenance fee will be waived and will not appear as a charge on your Account provided the Account is open and in good standing at the time of the waiver. All other applicable service charges on the Account will continue to be applied. The monthly account maintenance fee will begin to apply if you are no longer a CFIB member in good standing. Maximum one (1) offer per customer regardless of the number of Accounts opened. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice. Please refer to Scotiabank’s “Your Guide to Schedule of Fees” for full descriptions of Account fees and what is included in Account plan.
3 Active CFIB members in good standing will receive a 20% discount on the standard monthly account fee on one (1) Scotia One Account for Agriculture (“Account”) provided the Account is open and in good standing at the time the fee is applied. All other applicable service charges on the Account will continue to be applied at the regular rates. The regular monthly account fee will begin to apply if you are no longer a CFIB member in good standing. Maximum one (1) offer per customer regardless of the number of Accounts opened. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice. Please refer to Scotiabank’s “Your Guide to Schedule of Fees” for full descriptions on Account fees and what is included in the Account plan.
4 Active CFIB members in good standing will receive a 20% discount on the standard monthly account fee on one (1) Select Account for business (“Account”), regardless of plan option chosen, provided the Account is open and in good standing at the time the fee is applied. All other applicable service charges on the Account will continue to be applied at the regular rates. The regular monthly account fee will begin to apply if you are no longer a CFIB member in good standing. Maximum one (1) offer per customer regardless of the number of Accounts opened. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice. Please refer to Scotiabank’s “Your Guide to Schedule of Fees” for full descriptions on Account Fees and what is included in the Account plan.
5 Subject to credit approval and security provided (if applicable). Excludes specialty term loans including Investment Property Lending, Scotia Professional Plan, other government backed term loans or future programs.
6 Prime Rate is the prime lending rate of The Bank of Nova Scotia as published from time to time and is subject to change without notice. The interest rate is variable and will vary automatically when Scotiabank's Prime Rate changes. Scotiabank Prime Rate as of July 13th, 2023 is 7.20%. You can find the current Scotiabank Prime lending rate here.
7 Active CFIB members in good standing will receive a 20% discount on the standard monthly fee for a ScotiaConnect plan (“Plan”), regardless of plan option (Basic, Standard, Premium, Ultimate). All other applicable service charges on the Plan will continue to be applied at the regular rates. The regular Plan monthly fee will begin to apply if you are no longer a CFIB member in good standing. Maximum one (1) offer per customer regardless of the number of Plans. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice. Please refer to Scotiabank’s “Your Guide to Schedule of Fees” for full descriptions on Account Fees and what is included in the Account plan.
8 Services include Balance Management, Balance Consolidation, Cash Concentration, Electronic Cheque Services, Night Deposit, Bill Payments and Government Tax Payment and Filing. Scotiabank Cash Management services are subject to individual agreements and applicable service fees.
9 Subject to credit approval. There is a maximum eligible reimbursement amount of $5,000 per eligible business customer under the Agricultural Switch Incentive program. The eligible reimbursement amount is calculated based on 0.5% of the global credit limit for a Scotiabank Flex for Ag loan or 0.5% of the sum of all applicable credits for a Scotia Mortgage for Ag, Term Loan for Ag, or Scotia Legacy Farm Mortgage. Reimbursement will only cover eligible switch costs, including legal and appraisal costs, represented as direct costs incurred relating to switching to Scotiabank. A copy of all applicable invoices is required for processing the incentive. The funds are to be reimbursed after the credits have been funded. The minimum amount for fixed interest rate farm mortgages is $50,000; there is no minimum mortgage amount for variable interest rate farm mortgages.
10 Subject to credit approval. Active CFIB members in good standing will receive a first-year annual fee waiver on up to two (2) Scotiabank Visa Business credit card accounts (each an “Account”) provided the Account remains open and in good standing at the time of the waiver. The Account is considered in good standing if it is not delinquent (past due) or over limit and there is no breach of the Revolving Credit Agreement or any other agreement(s) that applies to the Account. The Account will only receive one Annual Fee Waiver regardless of the number of accountholders on the Account. All other fees and charges applicable to the Account continue to apply. Individuals who are currently or were previously cardholders of a Scotiabank Visa Business credit card in the past 2 years are not eligible for the Offer. This offer is non-transferable and cannot be combined with any other Account annual fee waiver offer. Current annual fees, rates and other features for the Account are subject to change.
11 The monthly account fee is waived for eligible active CFIB members in good standing for the first 12 months on one (1) of the following accounts (each an “Account”): Preferred Package, Ultimate Package, Basic Plus Bank Account or Basic Bank Account. The monthly account fee will be waived and will not appear as a charge on your Account provided the Account is open and in good standing at the time of the waiver. All other applicable service charges on the Account will continue to be applied. The monthly account fee will begin to apply if you are no longer a CFIB member in good standing. Individuals who are currently or who were previously holders of any of the above listed Accounts within the last two (2) years are not eligible for the Offer. Maximum one (1) offer per customer regardless of the number of Accounts opened. This offer is non-transferable and may be changed, cancelled, or extended at any time without notice.
 

Overlap with other Programs or Incentives

CFIB members can take advantage of other Scotiabank programs currently offered, including Scotiabank StartRight™, Scotiabank Women Initiative, and any future programs that may be offered. And, for members who are also classified as professionals, the savings program can also be a complement to the Scotia Professional Plan as relevant to the customer’s banking needs.

At any time when there is a similar offering on a product or service to the offering available to CFIB members, the member will be able to receive only one offer; the better of the two that they are eligible for; offers cannot be combined unless otherwise specified.

CFIB members receiving savings and discounts already in place from prior agreements will continue until the time of the product renewal, incentive period has ended, or until a product or service is no longer offered, or Scotiabank determines that a pricing adjustment is required.

Additional Services for Commercial Banking Clients

Note: Commercial Banking clients are most often defined as those with annual revenues of $15 million or more, or with overall borrowing requirements of more than $500,000.

CFIB members classified as Commercial clients will be designated a Scotiabank Relationship Manager to determine their individual banking needs. Commercial clients will be entitled to preferred pricing for Cash Management & Payment Services.

Find out what you can save!

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  • Monthly fee waived on a Right Size Account for business1, or on a Basic Business Account2
  • 20% discount off the standard monthly fee on the Select Account for business4 (available to both Small Business & Commercial)
  • Reduced set-up fees for all term loans and lines of credit3
  • 20% discount off the monthly fee7 for standard ScotiaConnect plans (Basic, Standard, Premium, Ultimate) 8
Access Scotiabank

or call:
1-877-878-1473

What does a membership cost?

Monthly membership fees are $34 plus $3 per employee.

Find out what this means for your business.

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Want to offer more to your members? If you are responsible for an association or a group of franchisees, we offer you an incomparable alliance that will allow you to offer even more advantages to your members. We have already signed agreements with more than 120 groups across the country and their members now benefit from all CFIB services.
Learn more about group agreements.