A credit card balance transfer is when a cardholder transfers all or part of the balance from one credit account (like a credit card or a line of credit) to another credit card account. A balance transfer fee is charged when you ask Scotiabank to transfer those funds.

Balance transfers are treated as cash advances on your Scotiabank credit card account. All cash advances (including balance transfers) are charged interest from the date of the transaction at the cash advance interest rate that applies to your credit card. There is no interest-free grace period on cash advances.

Please review the Credit card fees at a glance page on our website for current information, and head to ScotiaAdvice+ to learn more.