Scotiabank has rolled out a new debit card, which allows Canadian cardholders to use debit to earn travel rewards.
Dubbed Scotiabank Passport Debit Card, the new card provides 1 Scotia Rewards point for every $5 spent. It is currently available with a bonus introductory offer of up to 10,000 points.
The card enables Canadians to earn maximum rewards on everyday purchases and redeem the rewards on a wide variety of products and services.
Additionally, Scotiabank has relaunched a new no annual fee travel credit card Scotiabank American Express Card that allows users to earn Scotia Rewards on every dollar spent on everyday purchases.
Moreover, the bank will roll out a set of new cards, including Scotiabank GM Visa Business Card and Scotia Momentum Mastercard Card.
Scotiabank GM Visa Business Card, which is available from October 2017, will allow merchants to split their business and personal expenses. The merchants can earn 5% in GM earnings on the first $10,000 spent yearly on their card, and 2% on everyday purchases thereafter.
Scotia Momentum Mastercard Card will allow the bank to offer customers the choice of rewards cards from all three credit card providers including American Express, Visa and Mastercard.
The cardholders can earn 1% cash back on gas, grocery, drug store purchases and recurring payments plus 0.5 per cent on everyday purchases thereafter, without any yearly fee or limit on cash back.
Scotiabank executive vice president of retail payments, deposits and unsecured lending Mike Henry said: “We know that Canadians are increasingly looking to be rewarded for their business in a meaningful way.
“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.”