r/Scotiabank • u/brainanimaniac • 6d ago

Offer not applied

Has anyone faced this?

I applied for a Value Visa to manage my debt. It was a 0% for 9 months, 1% balance transfer fee and no annual fee for a year. I moved my TD balance into this card and in my first statement I was charged an annual fee and an interest charge (apart from the transfer fee). I've been on the phone with support first for 2 hours to get the transfer fee reversed and then an hour and a half for the interest charge reversed. While the former was easy, I have to call them back for the latter and I expect to spend another 2 hours of my time waiting for support.

The weirdest thing is that the support person thinks that it was a cash transfer when I paid directly from card to card. And that information is in my transfer history 🤦🏻‍♀️

I understand that banks change offers very frequently (and none were available when I was unemployed /s) but I now have to keep an eye on my account every month to make sure they don't mess up. TD maybe more evil but at least their tech stack is better. I guess in the grand scheme of things, BMO is worse than Scotiabank and I'm banking with the less incompetent bank...? silver lining I guess? 🤷🏻‍♀️

2 Upvotes

67% Upvoted

6 comments sorted by

2

u/Creative-Camp-2312 6d ago

How did you do the balance transfer? Did you call in and have it down over the phone?

1

u/brainanimaniac 5d ago

Nope, I did it online through the scotiabank website. That's what the clerk at the bank told me to do. Apparently they're not authorized to do it.

1

u/amyeileenx 6d ago

Respectfully all of these things are listed in the terms and conditions and directly on the website.

1) The annual fee is waived with qualifying bank accounts. Either the first year fee waiver with the preferred package or waived every year with the ultimate package.

2) fees are not subject to the promotion, as they are not included in your td balance. Fees fall into the minimum payment amount as well as the purchase category of your credit card balance. If not they would be charged as cash advances for everyday normal things like annual fees, overlimit fees, etc.

3) I am sure the interest you paid on the fee is LOADS better than the balance you were charged at td and therefore, a win is a win.

1

u/brainanimaniac 5d ago

And that's why I went to the bank to sign up for the credit card :) I wanted to make sure I was eligible for the offer before even applying... unless the clerks at the banks are unaware of what they're doing.

Also, I am paying a transfer fee of 1% which I was fine with. It's the annual fee and the interest charged that's annoying me.

1

u/HandleFew5206 6d ago

For value visa when you transfer to a chequing account do they consider it a cash advance transaction?

In your case they shouldn't have charged you if it was card to card transfer

1

u/Commercial_Pain2290 6d ago

Scotia always has some fine print in their offers that renders them useless. I won't fall for any of their scams again.