Only major bank in Canada to offer credit cards with no foreign transaction fees*

TORONTO, Sept. 10, 2019 /CNW/ - Scotiabank is further strengthening its market-leading suite of credit cards with a refresh of the Scotiabank Gold American Express® Card. The newly refreshed card offers the highest earn rate available in the market for Groceries, Dining and Entertainment**, introduces new accelerated earn categories, and showcases the flexibility of the Scotia Rewards® program. The card also has no foreign transaction fees, saving customers 2.5% on purchases made online or while travelling abroad in another currency.^†

"We're extremely proud of the incredible value we're delivering to our customers through our newly refreshed Scotiabank Gold American Express Card," said Brett Mooney, Senior Vice President, Credit Cards & Unsecured Lending for Scotiabank. "Our customers' needs are changing, and the Scotiabank Gold American Express Card has evolved to meet those needs. Customers can now earn accelerated rewards in new categories such as food delivery, ride sharing and streaming services. We also introduced a new feature to save our customers 2.5% on all foreign currency transactions – and we're the only major bank in Canada to offer this feature."

With the Scotiabank Gold American Express Card, customers will enjoy:

• 5x Scotia Rewards points on eligible Dining, Groceries and Entertainment – New Increased Earn!
• 3x Scotia Rewards points on eligible Daily Transit, including Gas – New and Expanded Earn!
• 3x Scotia Rewards points on Select Streaming Services – New!
• 1x Scotia Rewards points on everything else
• No foreign transaction fees^† – New!
• Until December 30, 2019, a welcome offer of up to $300 in bonus rewards points***

"This is a bold step forward for Scotiabank and our customers are noticing," said Anya Schnoor, Executive Vice President, Retail Products for Scotiabank. "With the changes we've made to our Scotiabank Gold American Express Card, we're making a strong statement that we want to be the #1 card in our customers' wallets. Scotiabank is committed to offering our customers leading solutions that deliver exceptional value and rewards for banking with us."

"We are excited to once again partner with Scotiabank, one of Canada's most respected and largest issuers, to give their customers more rewards and value for their everyday spend," said Ann Sattin, Vice President, American Express. "We are proud to back Scotiabank customers with the trust and security of the American Express network."

In addition to the benefits offered as part of the Scotia Rewards program, Scotiabank Gold American Express cardholders will have access to exclusive new offers from American Express. Cardholders will also continue to have access to existing programs including Front Of The Line® and American Express Invites®. For more information and full details about the Scotiabank Gold American Express Card and related offers, please visit www.scotiabank.com/amexgold.

About Scotiabank
Scotiabank is Canada's international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 100,000 employees and assets of over $1 trillion (as at July 31, 2019), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

* Compared to other consumer credit cards publicly offered by Canadian Schedule 1 banks as of March 26, 2019.

** Earn 5X the points on purchases in 3 merchant categories (Groceries, Dining and Entertainment), more merchant categories than any other reward points credit card publicly offered by a Canadian Schedule I bank as at June 19, 2019. Comparison is based on the number of American Express merchant category codes in which a cardholder could earn 5x the points per CAD $1 on eligible purchases. Excludes any limited time and promotional bonus reward point offers.

† The term "Foreign Transaction Fees" is a substitute for "Foreign Currency Conversion". This fee relates to the 2.5% mark-up that is typically charged by credit card issuers in addition to the exchange rate. Scotiabank will not charge you this fee on foreign currency transactions including purchases, only the exchange rate applies. See the Foreign Currency Conversion section of the Disclosure Statement for this Card for full details. Rates and fees are subject to change.

*** Earn a one-time bonus of 5,000 Scotia Reward points when you spend at least $10,000 in everyday purchases in your first year. And until December 30, 2019 earn an additional one-time bonus of 25,000 Scotia Reward points with your first $1,000 in everyday purchases in the first 3 months. Total potential bonus offer of 30,000 Scotia Reward ® points is equal to $300 towards travel. Certain conditions must be met to qualify. Visit www.scotiabank.com/amexgold for full offer details. Offer subject to change.

SOURCE Scotiabank