The Scotia Professional Student Plan (SPSP) Line of Credit $300 Incentive Program is offered by MD Financial Management (MD) to eligible participants between October 14, 2020 and December 16, 2020, and is a separate offer from the Scotiabank $300 Banking Package Offer, which is offered by The Bank of Nova Scotia (Scotiabank) to eligible clients who open a new Preferred Package by December 16, 2020 and meet all offer conditions. These offers can be combined by an eligible participant, up to a maximum bonus of $600. Either offer may be changed, cancelled or extended at any time without notice.
The SPSP Line of Credit Incentive Program provides eligible participants (“Participants”) with a $300 monetary incentive (the “SPSP Incentive Payment”) to open a SPSP Line of Credit. To be eligible to receive the SPSP Incentive Payment, a resident physician, medical fellow or physician in their first or second year of practice (i.e., completed residency or fellowship in 2019 or 2020) must:
The $300 will be deposited into the eligible Participant’s Scotiabank chequing account on or before March 31, 2021.
Each Participant can qualify for only one SPSP Incentive Payment. This offer may not be combined with any other offers.
MD may at its sole discretion extend the SPSP Incentive Program end date of December 16, 2020, or, alternatively, terminate the SPSP Incentive Program at any time without notice.
To qualify for the $300 offers (each an “Offer”, collectively the “Offers"), you must:
†Click here for a list of direct deposits, pre-authorized transactions and online bill payments eligible for the Offers.
Notwithstanding a transaction may be included in these lists, certain exclusions may still apply and Scotiabank reserves the right to modify these lists and to determine whether a specific direct deposit, pre-authorized transaction or bill payment is eligible for the Offers.
Fund transfers initiated to other Scotiabank accounts (one time or recurring, e.g. credit card or savings account), to chequing or savings accounts held at other financial institutions, or to payment processing firms, are not eligible for the Offers.
Individuals who are currently holders of a Scotiabank Chequing Account are not eligible for the Offers. Individuals who were previously holders of a Scotiabank Chequing Account within the last two (2) years are not eligible for the Offers. “Scotiabank Chequing Account” means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. Employees of Scotiabank are also not eligible for the Offers.
The $300 cash bonus will be deposited to the primary account holder’s Eligible Account, within two (2) months following the satisfaction of the Offer conditions outlined above. The Eligible Account must be open and in good standing until the time of payout of the cash bonus. The Eligible Account is not in "good standing" if:
These Offers are non-transferable and may not be duplicated. Limit of one (1) Offer per customer, regardless of the number of Eligible Accounts opened. If more than one (1) Eligible Account is opened, the Offer awarded will be based on the first Eligible Account opened. For joint accounts, only one (1) cash bonus Offer will be applied to the primary account holder’s Eligible Account. All rates, fees, features and benefits are subject to change. Offers may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Scotiabank and MD collect personal information in order to enable Scotiabank and MD to understand and meet your financial needs and to determine your eligibility for the various products and services of Scotiabank and MD, to provide you with routine financial services related to credit and insurance products (as permitted by law) and to protect your interests and those of Scotiabank and MD. By opening an SPSP, you agree to provide Scotiabank and MD with the necessary information about you for the purposes mentioned in this paragraph, including to allow MD to deposit the SPSP Incentive Payment to your bank account, to obtain personal information about you from any person likely to have such information or to confirm its accuracy (credit reporting and assessment agencies, financial institutions, public registries, regulatory authorities and organizations, employers, professionals and individuals given as references). In addition, you authorize Scotiabank and MD to exchange between themselves (where legislation permits) and Scotiabank for the purposes of carrying out the terms of this SPSP Incentive Program. For more information about how MD collects and uses your personal information, please consult the MD Financial Management Privacy Policy.