"It's a powerful way to save"

    HALIFAX, April 29 /CNW/ - Canadians can now turn everyday debit purchases
into savings over the course of their day through Scotiabank's new Bank the
Rest savings program, a free debit card program that helps people save when
they make everyday purchases with their debit card. This service is a first
for Canadian customers.
    With the Bank the Rest savings program, Canadians using their ScotiaCard
to make debit card purchases can choose to round up the total purchase amount
to the nearest dollar or five dollars, and have the difference deposited
automatically into their Scotiabank Money Master High Interest Savings account
where their money will continue to grow.
    "Canadians enjoy the flexibility of using their debit cards to make
purchases and we are building on that service to provide greater value to our
customers by adding a savings option," said Gillian Riley, Scotiabank Managing
Director & Head, Retail Deposits and Services. "Whether you're saving for the
future or just for a rainy day it's important to save on a regular basis. The
Bank the Rest program starts from that premise and enables people to build
savings into their routine as they use their debit card for daily purchases on
everything from gas to groceries. It's a simple but powerful way to save."
    "With Canadians confronted by the rising cost of day-to-day expenses,
saving for the future can become less of a priority, especially with the
economy underperforming," said Aron Gampel, Vice-President and Deputy Chief
Economist, Scotiabank. "Canadians can be expected to build their savings
during these challenging times. Every little bit helps towards gaining
financial security."
    Customers who sign up for the Bank the Rest savings program have the
option of rounding their purchases up to the nearest dollar or five dollars.
For example, if a customer signed up to round up to the nearest dollar, and
made a debit purchase for $7.50, 50 cents would automatically be transferred
from his/her chequing account into his/her Money Master High Interest Savings
account. If that person had decided to round up to the nearest five dollars,
$2.50 would be transferred. To look at how savings could add up, someone who
does 19 transactions per month, and has chosen to round up to the nearest
dollar could save approximately $9.50 per month. If that same person has
chosen to round up to the nearest five dollars, their savings could climb to
around $47.50 at the end of the month. Not only does this add up month after
month, but putting that money into a high interest account maximizes the
savings opportunities. More information and an online tool that lets people
see how the nickels, dimes and quarters add up is available by visiting
www.banktherest.com.
    "Getting ahead financially can be built on small wins," said Keir Clark,
Senior Wealth Advisor, ScotiaMcLeod. "All it takes is a few changes to the way
people manage their money and the flexibility to save a little more. The Bank
the Rest savings program is one way for people to automatically put their
money into a high interest savings account as they go about their daily lives
and without making big sacrifices. It's surprising how small change can add up
to make a big difference."
    The Bank the Rest savings program is available to new and existing
customers by visiting their nearest Scotiabank branch or by calling
1-800-4-SCOTIA (1-800-472-6482). New customers will need a Scotiabank chequing
or savings account, a Scotiabank debit card (ScotiaCard), and a Scotiabank
Money Master High Interest Savings Account.

    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 60,000 employees, Scotiabank
Group and its affiliates serve approximately 12.5 million customers in some
50 countries around the world. Scotiabank offers a diverse range of products
and services including personal, commercial, corporate and investment banking.
With $449 billion in assets (as at January 31, 2008), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit
www.scotiabank.com.