Terms and Conditions

The Scotiabank (the "Bank") International Student GIC Refer a Friend Program (the "Program") is available from April 1st, 2024, to October 31st, 2024.

For the purposes of this Program, the following definitions apply:

  1. "Eligible Chequing Account" means an Ultimate Package, Preferred Package or Student Banking Advantage® Plan.
  2. "Friend or family member" means people the Referrer has a close personal or family relationship with and who the Referrer is in regular contact with.
  3. "Referrer" means an existing Scotiabank eligible client who refers a friend or family member under the Program.
  4. "Referee" means a friend or family member of the Referrer who meets Scotiabank Student GIC eligibility requirements and who has been referred by the Referrer under the Program.


The Program is available to Scotiabank clients who have an active Eligible Chequing Account (Referrers). Referees must not have any active Scotiabank personal banking products, services or accounts. Referees must be eligible to open a Scotiabank Student GIC Account (see Reward Conditions below for details) and must successfully obtain their Canadian student permit and move to Canada.

Referral Process:

Eligible Scotiabank clients (Referrers) must register to participate in the Program. The email address used to register must match the email on their Scotiabank client account profile. At time of registration the Referrer must also provide the last 4 digits of their Scotiabank product where indicated on the registration page. Upon "Registration Submission", Referrer will be sent an email with instructions on how to participate in the Program, including their unique personal registration link to share with their friend or family member. Referrers may refer only up to three (3) eligible friends or family members.

Identified friends and family members must then register for the Program by visiting the registration page at the unique personal link shared by the Referrer. Once registered, they must then apply for and fund a Scotiabank Student GIC with a minimum of $20,835 CAD to be eligible to qualify for the $50 referral reward.

Reward Conditions:

A $150 referral bonus (the "Referrer Reward") will be given to the Referrer for each eligible referral (up to a maximum of $450) and a $50 bonus (the "Referee Reward") will be given to up to 3 Referees, provided all conditions set out in these Terms and Conditions are met. Referrer Reward and Referee Reward are collectively referred to as the "Rewards".

For both the Referrer and Referee to earn their Reward, the Referee must, on or before October 31st 2024, complete the following actions ("All Actions"):

  • Referrer:
    1. Have an active Eligible Chequing Account (Preferred Package, Ultimate Package, or Student Banking Advantage Plan).
    2. Register for the Program.
    3. Share their unique personal link with up to three (3) friends or family members who are planning to study in Canada and apply for a student visa.
  • Referee:
    1. Receive the unique personal registration link directly from the Referrer.
    2. Register for the Program by visiting the unique link shared by their Referrer.
    3. Apply for a Scotiabank Student GIC Account and fund the GIC with a minimum of $20,835 CAD. To be eligible to apply for the Scotiabank Student GIC Program, the referred person must:
      • be an individual who is planning on studying in Canada
      • not be coming to Canada on a tourist/visitor visa
      • be applying from one of the following eligible countries: Brazil, China, Colombia, India, Morocco, Pakistan, Peru, Philippines, Senegal, Vietnam
      • Note: When applying for their Student GIC, the Referee must use the same email used when registering for the $50 bonus offer.

Upon successfully completing All Actions and verification of eligibility by the Bank, within approximately six (6) months of Program registration, Referrer will be credited the applicable Referrer Reward (up to $450) into their Eligible Chequing Account provided the account remains open and in good standing until the time of payout and each eligible Referee (maximum 3) will be credited the Referee Reward ($50) in their new GIC investment account. NOTE: For a Referee Reward payment to be made, the Scotiabank Student GIC must remain funded and in good standing up until the time the student lands in Canada.

By participating in this Program and accepting a Reward, the Referee understands and agrees that while the Referrer will not receive any of the Referee's confidential banking details, the Referrer will know that the Referee has successfully completed the Reward conditions (i.e. has opened and funded a Scotiabank Student GIC).


A Referrer's assigned registration link is unique to them and is not transferable and may not be mass distributed.

Referees may only receive one (1) Referee Reward regardless of the number of Referrers that may have referred them. If a Referee has already received an email invite from another Referrer, any subsequent Referrer will not be eligible for a Referrer Reward.

This Program may only be used for personal, non-commercial purposes.

The Bank reserves the right at its absolute discretion to vary, delete or add to any of these Terms and Conditions from time to time without prior notice. In the event of conflict, these Terms and Conditions will prevail over any of the contents of any brochure, promotional materials or statements, or any other communication regarding this Program, whether written or oral from the Bank, except where otherwise stated.

The Bank reserves the right at its sole discretion to, without advance notice, terminate or suspend the Program, in whole or in part, or modify it in any way.

The Bank reserves the right, at its sole discretion, to suspend, disqualify, limit or revoke this Program for any person it finds or believes to be manipulating or otherwise abusing the process, fairness, or integrity of the Program or otherwise becomes ineligible. Rewards earned through fraudulent activities or activities in violation of these Terms and Conditions will be null and void and repayment may be requested by the Bank.

By participating in this Program, you agree that you have read and understood these Terms and Conditions and agree to be bound by them. Any notice offered by us with respect to this Program is deemed to be provided on the day it is posted on our website.

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