![]() ![]() Two-cycle average daily balance, including new purchases and cash advances. The exchange rate at the date of conversion may be different from the exchange rate in effect on the date the transaction was made.Ĭalculating Balance for Purchase and Cash Advances For the purposes of calculating your interest cost, the interest cost will be compounded monthly at the rate assigned to your account.įoreign currency transactions (including both purchases and cash advances) and credits (returns) to your credit card account will be converted to the currency of the credit card at the foreign exchange rate equivalent to the rate determined on our behalf by Mastercard International Incorporated, plus a percentage mark-up (Referred to as Cross Currnecy Transaction Fee) may be determined by the Bank from time to time, on the date the transaction is debited or credited to the credit card account. You will continue to pay the higher rate of interest, until such time as you have paid the minimum monthly payment by the payment due date for six consecutive months. If you do not pay at least your minimum payment by the payment due date, we may, at our discretion, increase the interest rate applicable to all new and existing balances up to 54.99% (EAIR 71.20%) for JMD denominated credit cards and up to 24.99% (EAIR 28.38%) for USD denominate credit cards. You can find your interest rate printed on the materials accompanying your credit card.Īnnual fees are charged on the first day of the month following your account opening (whether or not the card is activated) and annually thereafter on the first day of the same month. The applicable interest rate is established upon approval of your account. Interest is charged from the day the cash advance is made until we receive your payment for the total amount you owe.Ĭash advance fees will be charged for any credit card transactions involving the purchase of items directly converted to cash (also referred to as quasi-cash/ cash-like transactions) Examples: casino gaming chips, travellers, cheques money orders, wire transfers, foreign exchange trading and gaming including off track, race track and casino gaming. There is no interest free period for cash advances. If you do not pay your statement balance in full by the payment due date, you must then pay the interest on all your purchases and fees shown on that month’s statement from the transaction date until we receive your payment for the total amount you owe. You will benefit from an interest free period of at least 21 days for new purchases and fees, if you pay your statement balance in full by the payment due date shown on your statement. ![]() No premium is charged if your previous month’s statement balance was zero. Cost for joint coverage is 52¢ for every $100 of outstanding balance. Single coverage costs 29¢ for every $100 of outstanding balance on the previous month’s Scotiabank Visa® / Mastercard® statement. Optional Scotiabank Mastercard® /Visa® Credit Life Protection‡ provides up to JMD$3,000,000/USD$25,000 in coverage. Over Limit Charge (Flat Charge Per Each Overrun)Ĭrross Currency Transaction Conversion fee
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